Steam Turbine Market Overview:
The primary subjects of the in-depth corporate business research of the Steam Turbine Market are the most recent drivers, restraints, and opportunities in the Steam Turbine Market industry. The results were then confirmed by calling well-known companies. In the secondary investigation and analysis of the same, both free and paid data sources are utilised. Information on each player’s supply and consumption is gathered through reliable data sources, official government sources, and, in the case of publicly traded enterprises, financial reports of the company. Even if financial documents aren’t normally accessible to the general public, the tax division of the local government may be permitted to request them from businesses.
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Steam Turbine Market was valued at US$ 26.2 Bn in 2022. The Global Steam Turbine Market size is estimated to grow at a CAGR of 2.4% over the forecast period.
COVID-19 Impact:
By examining the existing and potential consequences of the COVID-19 pandemic on the Steam Turbine Market , the analysis delivers more accurate and true estimations in line with the realities of the market. Distress is being caused by the coronavirus’s widespread spread. Nearly all countries have enacted strict social segregation measures, such as lockdowns. This has led to major supply disruptions. The disease’s extensive effects have altered social systems everywhere. The COVID-19 has an effect on the market as a whole, and that effect will intensify in 2019 and 2020 in line with the market’s rate of growth. To provide reliable information and experiences to decision-makers, the COVID-19 event has compelled businesses to manage risk and digitise operations. This is consistent with the most recent MMR analyses, studies, and recommendations regarding management issues that are crucial for businesses and organisations and have a big impact on the market.
Segmentation
The Steam Turbine Market is divided into three categories based on type: Up to 150 MW, 151-300 MW, and More than 300 MW. Revenue-wise, the category with more than 300 MW made up 63.5% of the whole revenue in 2022.
Market for Steam TurbinesThe Global Steam Turbine Market is divided into power generation, petrochemical, oil & gas, and others based on application. In 2022, the Oil & Gas segment accounted for 56% of the market. The process is anticipated to continue as gas replaces oil and, to a lesser extent, coal and nuclear energy as its part of the world’s energy mix grows at a rate of 2% per year.
Key players:
• General Electric (GE) Co.
• Turbine Generator Maintenance Inc.
• Toshiba Corporation, Siemens AG
• Arani power systems
• Elliott Group
• TURBOCAM
• Doosan Škoda Power
• Chola Turbo Machinery International Pvt. Ltd.
• Mitsubishi Hitachi Power Systems Americas Inc.
• Ansaldo Energia
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Key company and market share insights:
Here, the leading competitors are emphasised for the benefit of the audience. The report examines key strategic decisions that big businesses make to maintain their market-leading positions, such as product portfolio strengthening, M&A, alliances, cutting-edge product development, and global expansion. The report includes the company’s goals as well as important financial information and unique insights. Additionally, users can get data on the companies’ global sales, revenue, and profit margins from 2017 through 2022.
Regional Analysis:
- North America
- Europe
- Asia-Pacific
- South America
- Middle East and Africa
Table Of Content:
1. Global Steam Turbine Market Size: Research Methodology
2. Global Steam Turbine Market Size: Executive Summary
2.1. Market Overview and Definitions
2.1.1. Introduction to Global Steam Turbine Market Size
2.2. Summary
2.2.1. Key Findings
2.2.2. Recommendations for Investors
2.2.3. Recommendations for Market Leaders
2.2.4. Recommendations for New Market Entry
3. Global Steam Turbine Market Size: Competitive Analysis
3.1. MMR Competition Matrix
3.1.1. Market Structure by region
3.1.2. Competitive Benchmarking of Key Players
3.2. Consolidation in the Market
3.2.1 M&A by region
3.3. Key Developments by Companies
3.4. Market Drivers
3.5. Market Restraints
3.6. Market Opportunities
3.7. Market Challenges
3.8. Market Dynamics
3.9. PORTERS Five Forces Analysis
3.10. PESTLE
3.11. Regulatory Landscape by region
• North America
• Europe
• Asia Pacific
• The Middle East and Africa
• South America
3.12. COVID-19 Impact
4. Global Steam Turbine Market Size Segmentation
4.1. Global Steam Turbine Market Size, by Capacity (2022-2029)
• Up to 150 MW
• 151-300 MW
• More than 300 MW
4.2. Global Steam Turbine Market Size, by Application (2022-2029)
• Power generation
• Petrochemicals
• Oil & gas
• Others
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