- The key vendors in the Global Turbo Generator Market 2015-2019 are Alstom S.A., Dongfang Electric Corporation Ltd., Harbin Electric Company Ltd., Mitsubishi Heavy Industries Ltd., Siemens AG and Toshiba Corp.
London, 02 December 2014: TechNavio, an independent tech-focused global research firm, has announced the publication of its market research report on the Global Turbo Generator Market 2015-2019. One of the key trends emerging in this market are heavy investment plans in the Middle East and Africa region. Lack of renewable energy sources and the presence of substantial gas and oil reserves in the region are expected to help in the growth of thermal and nuclear power plants. Consequently, this will increase the demand for turbo generators in the future. The overall market is expected to grow at a CAGR of 1.8 percent during the forecast period of 2014-2019.
Demand for turbo generators is expected to be determined by the number of upcoming coal, gas, and nuclear-based power plants. Developing countries in the APAC region such as China and India are expected to contribute to the growth of the market. Advances in technology in terms of operational conditions, cooling methods, maintenance, and materials that are used to manufacture turbo generators some of the major drivers of the market growth.
“China and India are expected to have more installations during the forecast period because of increasing demand for electricity due to the rapidly increasing population and industrial expansion,” says Faisal Ghaus, Vice President of TechNavio Research.
To define the market conditions 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.
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