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Selbyville, Delaware, Sept. 07, 2020 (GLOBE NEWSWIRE) — According to MarketStudyReport LLC, Global steam turbine market was valued at USD 24.1 billion in 2019 and is estimated to record a y-o-y growth rate of 2.8% over 2020-2027. Growing demand for electricity, rising technological developments, and increasing investments for thermal power capacity addition are few factors impelling the growth of global steam turbine market, claims the report.Global steam turbine market, as per the given report, is divided into segments based on design scope, end-user terrain, regional scenario, and competitive landscape. Thorough assessment of the business profile of key competitors as well as their product portfolio and expansion strategies undertaken is also entailed in the report.For the record, steam turbines make use of thermal energy, which is a common power source for electricity generation globally and has a better-installed capability as compared to other energy sources. Steam turbine finds applications in several industries like power plants and in operation of larger ships, whereas smaller steam turbines have uses in petrochemical plants to operate fans and pumps.According to International Energy Agency (IEA), in 2018, global energy consumption rose by 2.3%, which is twice the usual rate for the last 10 years. Increasing power utilization due to booming population and strong economic growth is stimulating steam turbine market size.Request Sample copy of this Report @ https://www.marketstudyreport.com/request-a-sample/2895876/Similarly, as per Central Electricity Authority (CEA) of India, the power generation demand from hydel, nuclear, and thermal plants is estimated to witness a growth rate of 6.5% in 2020, which is twice than the growth rate of 3.5% in 2019. Hence, increase in electricity usage is likely to proliferate the demand for steam turbines.Although, sluggish construction of new nuclear power plants and strict norms regarding fossil-fuel-fired power plants are the major factors hampering global steam turbine market growth over 2020-2027.Elaborating market segments:Based on design scope, global steam turbine market is segmented into reaction and impulse. With respect to end-use spectrum, the market is divided into power generation, oil & gas, petrochemical, and others.Considering the regional overview:Global steam turbine market landscape is segmented into Asia Pacific, Europe, North America, Latin America, and rest of the world. Asia Pacific held majority market share in the recent past and is reckoned to grow with robust CAGR over 2020-2027. Increasing demand for electricity along with the rising inclination towards cleaner resources are boosting the demand for steam turbines. Rise in number of fossil-fuel based power plants and dense presence of key vendors in the region are further stimulating the market outlook in Asia Pacific.To access a sample copy or view this report in detail along with the table of contents, please click the link below:https://www.marketstudyreport.com/reports/global-steam-turbine-market-size-researchGlobal Steam Turbine Market End-Use Industry Analysis (Revenue, USD Billion, 2018-2027)PetrochemicalPower generationOil & GasOthersGlobal Steam Turbine Market Design Analysis (Revenue, USD Billion, 2018-2027)ReactionImpulseGlobal Steam Turbine Market Regional Analysis (Revenue, USD Billion, 2018-2027)North AmericaCanadaU.S.EuropeItalyFranceGermanyUKSpainRest of EuropeAsia PacificJapanSouth KoreaChinaIndiaAustraliaRest of Asia PacificLatin AmericaBrazilMexicoRest of the WorldGlobal Steam Turbine Market Competitive Landscape Analysis (Revenue, USD Billion, 2018-2027)Turbine Generator Maintenance Inc.General Electric (GE) Co.Toshiba CorporationElliott CompanySiemens AGTURBOCAMArani Power SystemsDoosan Skoda PowerMitsubishi Hitachi Power Systems Americas Inc.Chola Turbo Machinery International Pvt. Ltd.Table of Content:Chapter 1. Executive Summary1.1.         Market Snapshot1.2.         Global & Segmental Market Estimates & Forecasts, 2018-2027 (USD Billion)1.2.1.     Steam Turbine Market, by Region, 2018-2027 (USD Billion)1.2.2.     Steam Turbine Market, by Design, 2018-2027 (USD Billion)1.2.3.     Steam Turbine Market, by End-Use Industry, 2018-2027 (USD Billion)1.3.         Key Trends1.4.         Estimation Methodology1.5.         Research AssumptionChapter 2. Global Steam Turbine Market Definition and Scope2.1.         Objective of the Study2.2.         Market Definition & Scope2.2.1.     Scope of the Study2.2.2.     Industry Evolution2.3.         Years Considered for the Study2.4.         Currency Conversion RatesChapter 3. Global Steam Turbine Market Dynamics        3.1.         Steam Turbine Market Impact Analysis (2018-2027)3.1.1.     Market Drivers3.1.2.     Market Challenges3.1.3.     Market OpportunitiesChapter 4. Global Steam Turbine Market Industry Analysis4.1.         Porter’s 5 Force Model4.2.         PEST Analysis4.3.         Investment Adoption Model4.4.         Analyst Recommendation & ConclusionChapter 5. Global Steam Turbine Market, by Design5.1.         Market Snapshot5.2.         Global Steam Turbine Market by Design, Performance – Potential Analysis5.3.         Global Steam Turbine Market Estimates & Forecasts by Design 2017-2027 (USD Billion)5.4.         Steam Turbine Market, Sub Segment Analysis5.4.1.     Reaction5.4.2.     ImpulseChapter 6. Global Steam Turbine Market, by End-Use Industry         6.1.         Market Snapshot6.2.         Global Steam Turbine Market by End-Use Industry, Performance – Potential Analysis6.3.         Global Steam Turbine Market Estimates & Forecasts by End-Use Industry 2017-2027 (USD Billion)6.4.         Steam Turbine Market, Sub Segment Analysis6.4.1.     Power generation6.4.2.     Petrochemical6.4.3.     Oil & Gas6.4.4.     OthersChapter 7. Global Steam Turbine Market, Regional AnalysisRelated Report:Offshore Wind Turbine Market Size, Regional Outlook, Competitive Market Share & Forecast, 2020 – 2026Global Offshore Wind Turbine Market size is anticipated to grow at over 18% CAGR between 2020 and 2026, as per new Research report. Ongoing emphasis toward the adoption of clean energy sources including wind, geothermal, solar, and waste-to-energy has created prominent growth opportunities for the market. Deployment of offshore wind technologies are gaining considerable acknowledgment owing to their significant power generation abilities. Lower noise, no land acquisition expenses, and extensive availability of wind resource when compared to conventional onshore projects are few indispensable features fueling the offshore wind turbine market growth.About US:Market Study Report, LLC. is a hub for market intelligence products and services.We streamline the purchase of your market research reports and services through a single integrated platform by bringing all the major publishers and their services at one place.Our customers partner with Market Study Report, LLC. to ease their search and evaluation of market intelligence products and services and in turn focus on their company’s core activities.If you are looking for research reports on global or regional markets, competitive information, emerging markets and trends or just looking to stay on top of the curve then Market Study Report, LLC. is the platform that can help you in achieving any of these objectives.Contact Us:
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