TechNavio recognizes the following companies as the key players in Turbine Market in China: Chongqing Hydropower Equipment Co. Ltd., Fujian Nandian Co. Ltd., Nanjing Turbine and Electric Machinery Co. Ltd., and Qingdao Machinery Industry Corp.
Commenting on the report, an analyst from TechNavio’s team said: “One of the major reasons for the increasing focus on R&D investment in the Turbine market in China is the increasing requirements from the end-users for efficient and reliable turbines. To meet these customer demands, vendors are now focusing on developing new technology that enables turbines to work with less wear and tear and high efficiency. Therefore, the vendors are investing large amounts of money in R&D activities in order to create advanced products, which in turn help them to sustain in the market. ”
According to the report, the increasing growth of the Power Industry is driving the Turbine market in China, as the country depends mainly on hydroelectric power and thermal power which are major end-users of turbines for power generation. The Power industry in China generates a large part of power from coal-fired thermal power plants. The increase in the number of thermal and hydroelectric power plants has increased the demand for turbines in China.
Further, the report states that the major challenge to the Turbine market in China is the increasing price of raw materials. As turbine blades need to withstand enormous pressure and should be wear and tear resistant, superalloys are used in their manufacturing. Over the past few years, the cost of superalloys has been increasing, and other raw materials such as carbon steel, heat treatment steel, high strength micro alloy, and stainless steel are also witnessing an increase in price. This increasing cost of raw materials is making it difficult for the vendors to manufacture turbines at low cost.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/turbine-market-in-china-2014-2018
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/engineering-and-automation
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TechNavio Announces the Publication of its Research Report – Turbine Market in China 2014-2018
