London, 02 January 2015: TechNavio, the independent tech-focused global research firm, has published a report on the Global Steam Turbine Market 2015-2019, which is expected to grow at a CAGR of 3 percent during the forecast period of 2014-2019.
“There has been significant development in the design of turbine blades to increase the efficiency and reliability of the operation,” says Faisal Ghaus, Vice President of TechNavio.
“With the help of advanced flow mechanics and computation tools, the strength calculation becomes easier and the construction of compact turbines with high unit ratings ranging from 900 to 1,000 MW is possible.”
Key Market Drivers
- Increased Demand for Electricity
- Advances in Technology
- Growing Focus on Development and Commercialization of New Technologies
- Increased Focus on SC and USC Power Plants in Developing Countries
Key Market Trends
- Reaching Market Maturity
- Increased Installation of Clean Coal Technology in APAC Region
- Growing Usage of Steam Turbines in CCGT and Gas-fired Power Plants
Key Market Vendors
- Alstom SA
- Dongfang Electric Corporation (DEC) Ltd.
- Elliot Group
- GE Energy
- Hangzhou Steam Turbine Co. Ltd.
- Harbin Turbine Co. Ltd.
- Nanjing Turbine & Electric Machinery (Group) Co. Ltd.
- Shandong Qingneng Power (QNP) Co. Ltd.
- Shanghai Electric Group Co. Ltd.
- Siemens AG
To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
