The global Steam Turbine market size was valued at $22.48 Billion in 2020 and is expected to reach $28.61 Billion by 2028 growing at the CAGR of 3.03% from 2021 to 2028. This growth is attributed to several macro and microeconomic factors such as
- A rise in demand for energy
- Reduction in fossil-based energy generation
- Driver 3
Further several factors restraining the market growth include
- Higher efficiency of other turbines
- Restrain 2
Collaborations and Alliances in the Steam Turbine market are expected to generate higher avenues during the forecast period.
The COVID-19 pandemic has led to supply chain disruptions leading to supply shortages or lower demand in the Steam Turbine market. The travel restrictions and social-distancing measures have resulted in a sharp drop in consumer and business spending and this pattern is to continue for some time. The end-user trend and preferences have changed due to the pandemic and have resulted in manufacturers, developers, and service providers adopting various strategies to stabilize the company.
In terms of COVID 19 impact, the Steam Turbine market report also includes the following data points:
- Impact on Steam Turbine market size
- End-User Trend, Preferences, and Budget Impact
- Regulatory Framework/Government Policies
- Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies
- Opportunity in Steam Turbine market
Key Insight in the report:
The global Steam Turbine market report covers executive summary, market dynamics, COVID impact & post COVID scenario, market size and forecast, competitive intelligence, market positioning, and product offerings.
Our report covers extensive competitive intelligence which includes the following data points:
- Business Overview
- Business Segment Data
- Financial Data
- Product Segment Analysis and Specification
- Recent Development and Company Strategy Analysis
- SWOT Analysis
The report covers market sizing and forecasting at the country level as well as at the segment level. The Steam Turbine market is analyzed across the below-mentioned different segments:
- Power generation
- Oil & Gas
The Steam Turbine market is also analyzed across the below-mentioned regions/countries:
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Rest of the World
- South America
- Middle East & Africa
Some of the key players in the Steam Turbine market include:
- Turbine Generator Maintenance Inc.
- Toshiba Corporation
- Arani power systems
- Elliott Group
- Chola Turbo Machinery International Pvt. Ltd.
- Mitsubishi Hitachi Power Systems Americas Inc
- General Electric
REPORT CONTENT BRIEF:
- High-level analysis of the current and future market trends and opportunities
- Detailed analysis on current market drivers, restraining factors, and opportunities in the future
- Steam Turbine market estimates for 2020 and forecast from 2021 to 2028
- Vendor market share analysis at each product level
- Competitor analysis with a detailed insight into its product segment, financial strength, and strategies adopted.
- Identifies key strategies adopted including product launches and developments, mergers and acquisitions, joint ventures, collaborations, and partnerships as well as funding took an investment done, among others.
- Suppliers and traders
- Government, associations, and industrial bodies
- Investors and trade experts
- Consulting Firms or Individual Consultant
- Anyone interested in understanding the industry dynamics of the Steam Turbine market