Global
turbines market revenue was valued at USD 135.68 Billion in 2013 and
is expected to reach USD 191.87 Billion by 2020, at a CAGR of 4.89%
from 2013 through 2020.
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Turbines Market Report with Full TOC at
http://www.transparencymarketresearch.com/turbines-market.html
Generating
power is the prime reason behind an increased demand for turbines. A
turbine is a piece of equipment designed and built for efficient
power generation using a viable source, such as coal and natural gas
in fossil sources, and wind and water in renewable ones. The source
feed is ignited and the resulting pressure is directed through
nozzles to drive the turbine blades, in case of impulse turbines. For
reaction turbines, the feed material e.g. air in case of wind
turbines and rivers or dams in case of hydropower ones, goes
‘through’ the blades to drive the turbine.
Currently,
governments of nations facing persistent power shortages are taking
measures to constantly upgrade their power generation capacity in
order to meet the demand from industries and households. Many new
power plants that are primarily powered by steam and gas turbines are
under the process of being commissioned, while construction of few is
currently ongoing. There is also the renewable energy sector, which
has gained rapid momentum over the last few years. The world has
expressed significant interest in diversifying its energy portfolio
and adopting renewable energy technologies in the near future.
Presently, the market for turbines includes reputed companies such as
Alstom S.A., General Electric Energy, Siemens Energy, Ballard Power
Systems Inc., Doosan Fuel Cell America, Inc., Vestas Wind Systems
A/S, Sinovel Wind Group Co., Ltd., Goldwind Science & Technology
Co., Ltd., and Kirloskar Brothers Limited. Most of these players
operate through dealers and distributors (many of which are exclusive
to a single company). Product range generally comprises steam, gas,
hydro or wind turbines.
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For
a considerable duration of time, steam turbines were the major source
of power generation. Over the years as government bodies and the
consumers discovered the imperative effects of carbon emissions and
global warming, efforts were made to reduce current levels as well as
monitor future emission intensity. This led to a global shift in the
power generation industry. Power producers alternated coal for
natural gas or renewable energy sources, such as solar, wind or
hydropower. Even though coal constitutes a major part of the emerging
economies’ energy mix, it is expected that coal will slowly fade
out over the years.
Growing
population base across the globe is augmenting the demand for power
and heat. Further, regions located close to the Arctic belt have been
experiencing harsh winter temperatures due to the significant change
in average earth temperature since 1980s. Such cities have increased
seasonal power demand. In order to cope with the additional seasonal
demands, power producers generally buy power from other sources,
which could cost much more than the average market price as it is
being bought under distress. Thus, power producers decided to shift
from coal to natural gas or renewables as a source for power
generation. This trend is likely to continue for the next few
decades.
This
research study is designed to estimate, analyze, and forecast the
global turbines market. The overall market has been estimated on the
basis of installed volume and revenue. The research provides in-depth
analysis of manufacturers and suppliers in the turbines industry,
which are involved in the business at various levels of the value
chain. The research includes detailed analysis, historical data, and
statistically refined forecast for the segments covered. On the other
hand, end-user industries that use turbines as a long-term backup
source generally prefer to purchase new ones. As a result, market
size for turbines varies depending on need and preference of end-user
industries.
The
product type analysis for turbines was estimated, keeping in mind the
major construction and expansion projects planned by the governments
and corporations across the globe. It was estimated that during harsh
winter weather, project developers generally prefer renting turbines.
However, post construction, operators prefer buying new units. While
conducting the study, we took into consideration the key construction
projects planned till 2020 such as power plants, hydropower storage
projects, marine installations, and aircraft jet installations. We
have considered 2013 as the base year for this study, while all
forecasts have been done for 2014 to 2020. Qualitative analyses such
as major planned projects and investment by power plant operators
were considered while computing the volume and revenue market size
for turbines.
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Press Release Of Turbines Market
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This
research analyzes and estimates the performance and market of turbine
systems in the global scenario, providing detailed trend analysis of
the market by geography and comprehensive analysis of companies that
are dealing in turbine systems. The report presents a thorough
assessment of the strategies followed by different stakeholders by
segmenting the turbines systems market as below:
Global
Turbines Market: Product Type Analysis
- Hydropower
- Steam
- Gas-based
- Wind
- Nuclear
Global
Turbines Market: End User Industry Analysis
- Power Generation
- Power Storage
- Marine
- Aeronautics
Global
Turbines Market: Regional Analysis
- North America
- Europe
- Asia Pacific
- Rest of the World (RoW)
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