A new Transparency Market Research report states that the global turbines market stood at US$135.7 bn in 2013 and is predicted to reach US$191.8 bn by 2020. It is predicted to expand at a CAGR of 4.89% from 2014 to 2020. The title of the report is “Turbines Market – Global Industry Analysis, Market Size, Share, Growth, Trends and Forecast 2014 – 2020.”
Request PDF Brochure : https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=2873
As per the report, the increasing requirement for power generation, especially in emerging economies, and the reduced risk of technology failure, resulting in increased demand from investors, are amongst the chief factors propelling the growth of the turbines market. Furthermore, the rising global demand for heat owing to the increasing global population is also a prime factor augmenting the market for turbines. In addition, the introduction of new components in turbine technology resulting in cost saving has emerged as a key opportunity in the market. On the other hand, the soaring initial costs of investments and turbines being climate-dependent systems are amongst the major factors that may inhibit the growth of the turbines market in the coming years. In addition, a number of project site issues owing to the low noise tolerance as well as emission impact of turbines may also have a negative impact on the growth of the market for turbines. The report segments the market on the basis of product type, end use, and geography
REQUEST FOR COVID19 IMPACT ANALYSIS : https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=2873
The report, on the basis of product type, segments the market into steam, hydropower, wind, gas-based, and nuclear. Amongst these, the segment of steam turbines emerged as the prime source of power generation in 2014 and is predicted to rise exponentially in the coming years. On the basis of end use, the turbines market is segmented into power storage, power generation, aeronautics, and marine.
In terms of geography, the report segments the market into Europe, North America, Asia Pacific, and Rest of the World (RoW). Amongst these, in 2013, on the basis of installed turbine capacity, Asia Pacific constituted a share of over 40% in the market. The region of Asia Pacific was valued at US$42.9 bn in 2013 and is predicted to reach US$68.5 bn by 2020, expanding at a CAGR of 5.81% between 2014 and 2020. This is owing to the swift development of oilfield projects within the region of Asia Pacific.
Explore Transparency Market Research’s award-winning coverage of the global Industry:
As per this study, the major players operating in the turbines market are General Electric Energy, Alstom S.A., Siemens Energy, Doosan Fuel Cell America, Inc., Ballard Power Systems Inc., Vestas Wind Systems A/S, Goldwind Science & Technology Co., Ltd., Kirloskar Brothers Limited, and Sinovel Wind Group Co., Ltd., among others.
The global turbines market has been segmented as below:
- Global Turbines Market: Product Type Analysis
- Global Turbines Market: End User Industry Analysis
- Power Generation
- Power Storage
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.