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DATE
APR 2021
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60
PAGES
188
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HIGHLIGHTS & REPORT INDEX
Amid the COVID-19 crisis, the global market for Turbines estimated at 252.8 Thousand Megawatts in the year 2020, is projected to reach a revised size of 315.7 Thousand Megawatts by 2027, growing at a CAGR of 3.2% over the analysis period 2020-2027. Steam Turbines, one of the segments analyzed in the report, is projected to record a -3.6% CAGR and reach 68.5 Thousand Megawatts by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Wind Turbines segment is readjusted to a revised 8.1% CAGR for the next 7-year period.
The Turbines market in the U.S. is estimated at 74 Thousand Megawatts in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of 57.6 Thousand Megawatts by the year 2027 trailing a CAGR of 3.3% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.2% and 3.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.8% CAGR.
In the global Gas Turbines segment, USA, Canada, Japan, China and Europe will drive the 3% CAGR estimated for this segment. These regional markets accounting for a combined market size of 37 Thousand Megawatts in the year 2020 will reach a projected size of 45.5 Thousand Megawatts by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach 36.3 Thousand Megawatts by the year 2027.
SELECT PLAYERS
ABB Limited; Acciona Energia SA; Andritz AG; Ansaldo Energia SpA; Caterpillar, Inc.; Dongfang Electric Corporation Limited; Doosan Power Systems Holdings Limited; ENERCON GmbH; GE Grid Solutions, LLC; GE Power & Water; General Electric Company; GuoDian United Power Technology Company Ltd.; Harbin Turbine Company Limited; Mitsubishi Hitachi Power Systems, Ltd.; Nordex SE; Senvion SA; Shanghai Electric Group Company Limited; Siemens AG; Siemens Gamesa Renewable Energy, S.A.; Vestas Wind Systems A/S; Voith GmbH & Co. KGaA; Xinjiang GoldWind Science & Technology Co., Ltd.
SEGMENTS
» Product Segment (Steam Turbines, Wind Turbines, Gas Turbines, Other Segments)
GEOGRAPHIES
» World » United States » Canada » Japan » China » Europe » France » Germany » Italy » United Kingdom » and Rest of Europe » Asia-Pacific » Rest of World
TABLE OF CONTENTS
| I. METHODOLOGY |
| II. EXECUTIVE SUMMARY |
| 1. MARKET OVERVIEW |
| Influencer Market Insights |
| World Market Trajectories |
| Turbines: Enhancing the Performance of Power Generation |
| Disruptive Effect of Renewable Energy on the Traditional Electricity System: The Fundamental Growth Driver |
| Recent Market Activity |
| Factors Disrupting the Global Energy Market |
| Smart Solutions to Mitigate Issues |
| Rising Share of Renewable Sources in Energy Generation Portfolio |
| Growing Number of Renewable Energy Projects Undertaken Worldwide |
| Declining Cost of Wind and Solar Power Make Renewables an Integral Part of Energy Portfolio |
| Escalating Climate Change Adds Urgency to the Renewable Energy Revolution |
| Despite Decline in Renewable Investments, Outlook for Turbines Remains Bright |
| Global Market Outlook |
| Improving Economy Signals Market Growth Opportunities |
| Impact of Covid-19 and a Looming Global Recession |
| 2. FOCUS ON SELECT PLAYERS |
| ABB Limited (Switzerland) |
| ACCIONA Windpower S.A. (Spain) |
| Andritz AG (Austria) |
| Ansaldo Energia SpA (Italy) |
| Bharat Heavy Electricals Limited (India) |
| Caterpillar, Inc. (USA) |
| Clipper Windpower, LLC (USA) |
| DeWind Inc. (USA) |
| Dongfang Electric Corporation Limited (China) |
| Doosan Power Systems Holdings Limited (UK) |
| ENERCON GmbH (Germany) |
| Envision Energy Limited (China) |
| General Electric Company (USA) |
| GE Grid Solutions, LLC (USA) |
| GE Wind Energy, LLC (USA) |
| GE Power & Water (USA) |
| GuoDian United Power Technology Company Ltd. (China) |
| Harbin Turbine Company Limited (China) |
| JFE Holdings, Inc., (Japan) |
| Mitsubishi Hitachi Power Systems, Ltd. (MHPS) (Japan) |
| Nordex SE (Germany) |
| Senvion SA (Germany) |
| Shanghai Electric Group Company Limited (China) |
| Shin Nippon Machinery Co., Ltd. (Japan) |
| Siemens AG (Germany) |
| Siemens Gamesa Renewable Energy, S.A.(Spain) |
| Suzlon Energy Limited (India) |
| Toshiba Corporation (Japan) |
| Vestas Wind Systems A/S (Denmark) |
| Voith GmbH & Co. KGaA (Germany) |
| Xinjiang GoldWind Science & Technology Co., Ltd. (China) |
| VENSYS Energy AG (Germany) |
| 3. MARKET TRENDS & DRIVERS |
| Surging Energy Consumption and the Resulting Rise in Power Generation Drive Healthy Market Growth |
| Surge in Number of Wind Farms Worldwide Benefit Demand for Wind Turbines |
| Bright Outlook for Offshore Wind Generation Spurs Market Demand |
| Offshore Wind Energy Touted to Change the Future of Energy Generation |
| Demand for Hybrid Power Wind Turbines on the Rise |
| Rising Popularity of Small Wind Turbines Bodes Well for Market Growth |
| Key Challenges Hampering Wind Energy Generation |
| Growing Prominence of Distributed Power |
| Generation Benefits Market Prospects for Combustion Turbines |
| Distributed Power Technologies: Brief Details on Power Technology, Size Range, Power Efficiency Range, Fuel Options and Applications |
| Micro and Mini Turbines Traverse Troughs and Crests |
| Micro Turbines Witness Increasing Deployment in Distributed Energy Generation |
| Advantages of Microturbines |
| Applications of Microturbines |
| Despite Coal-Fired Thermal Power Dominance, Several Issues Hamper Market Prospects for Steam Turbines |
| Steam Turbine Manufacturers Focus on Improving Turbine Designs for Increased Efficiencies |
| Growing Production & Supply of Natural Gas Drive Growth in Demand for Gas Turbines |
| Emergence of Shale Gas as a Viable Energy Source Generates Opportunities for Gas Turbines |
| Electric Motors: A Rising Threat to Gas Turbines |
| Syngas Holds Potential to Emerge as Superior Alternative to Natural Gas in Turbines |
| Untapped Kinetic Energy Potential of Oceans Offer Huge Untapped Potential |
| Developing Countries Offer Significant Market Growth Opportunities |
| China: Growth Engine for the Global Turbines Market |
| Liberalization and Privatization in Developing Countries Augurs Well for Market Expansion |
| Exponential Increase in Global Population & Urbanization Rate: A Mega Trend Strengthening Market Prospects |
| Innovative Wind Turbine Blade Tips Set to Lower Energy Cost |
| High Flying Turbines: A Major Breakthrough for Harnessing More Wind Power |
| Liquid CO2 Turbines to Improve Power Generation Efficiency |
| Advanced Algorithm Enhances Small Wind Turbines' Efficiency |
| Advanced Robot Systems for Examining Wind Turbine Rotor Blades |
| Recent Innovations in Offshore Wind Farms |
| Geared-Wind Turbines |
| SATH©-Floating Solution for Offshore-Wind Farms |
| Remote Monitoring of Wind Turbines |
| Other Advancements and Improvements in Wind Energy |
| Gas Turbines: Innovations and Advancements |
| Siemens Develop Advanced Gas Turbine Technology |
| Developments Related to Enhanced Gas Turbine Productivity |
| Hydrogen Turbines |
| Advanced Combustion Turbines |
| The University Turbine Systems Research Program (UTSR) |
| Selective Laser Melting |
| 3D Printing Set to Revolutionize Gas Turbine Manufacturing |
| Tomo-Lithographic Molding |
| 4. GLOBAL MARKET PERSPECTIVE |
| World Current & Future Analysis for Turbines by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in Megawatts for Years 2020 through 2027 and % CAGR |
| World Historic Review for Turbines by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in Megawatts for Years 2012 through 2019 and % CAGR |
| World 15-Year Perspective for Turbines by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2012, 2020 & 2027 |
| World Current & Future Analysis for Steam Turbines by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in Megawatts for Years 2020 through 2027 and % CAGR |
| World Historic Review for Steam Turbines by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in Megawatts for Years 2012 through 2019 and % CAGR |
| World 15-Year Perspective for Steam Turbines by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2012, 2020 & 2027 |
| World Current & Future Analysis for Wind Turbines by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in Megawatts for Years 2020 through 2027 and % CAGR |
| World Historic Review for Wind Turbines by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in Megawatts for Years 2012 through 2019 and % CAGR |
| World 15-Year Perspective for Wind Turbines by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2012, 2020 & 2027 |
| World Current & Future Analysis for Gas Turbines by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in Megawatts for Years 2020 through 2027 and % CAGR |
| World Historic Review for Gas Turbines by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in Megawatts for Years 2012 through 2019 and % CAGR |
| World 15-Year Perspective for Gas Turbines by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2012, 2020 & 2027 |
| World Current & Future Analysis for Other Segments by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in Megawatts for Years 2020 through 2027 and % CAGR |
| World Historic Review for Other Segments by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in Megawatts for Years 2012 through 2019 and % CAGR |
| World 15-Year Perspective for Other Segments by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2012, 2020 & 2027 |
| Global Market Outlook |
| III. MARKET ANALYSIS |
| UNITED STATES |
| USA Current & Future Analysis for Turbines by Product Segment - Steam Turbines, Wind Turbines, Gas Turbines and Other Segments - Independent Analysis of Annual Sales in Megawatts for the Years 2020 through 2027 and % CAGR |
| USA Historic Review for Turbines by Product Segment - Steam Turbines, Wind Turbines, Gas Turbines and Other Segments Markets - Independent Analysis of Annual Sales in Megawatts for Years 2012 through 2019 and % CAGR |
| USA 15-Year Perspective for Turbines by Product Segment - Percentage Breakdown of Value Sales for Steam Turbines, Wind Turbines, Gas Turbines and Other Segments for the Years 2012, 2020 & 2027 |
| CANADA |
| Canada Current & Future Analysis for Turbines by Product Segment - Steam Turbines, Wind Turbines, Gas Turbines and Other Segments - Independent Analysis of Annual Sales in Megawatts for the Years 2020 through 2027 and % CAGR |
| Canada Historic Review for Turbines by Product Segment - Steam Turbines, Wind Turbines, Gas Turbines and Other Segments Markets - Independent Analysis of Annual Sales in Megawatts for Years 2012 through 2019 and % CAGR |
| Canada 15-Year Perspective for Turbines by Product Segment - Percentage Breakdown of Value Sales for Steam Turbines, Wind Turbines, Gas Turbines and Other Segments for the Years 2012, 2020 & 2027 |
| JAPAN |
| Japan Current & Future Analysis for Turbines by Product Segment - Steam Turbines, Wind Turbines, Gas Turbines and Other Segments - Independent Analysis of Annual Sales in Megawatts for the Years 2020 through 2027 and % CAGR |
| Japan Historic Review for Turbines by Product Segment - Steam Turbines, Wind Turbines, Gas Turbines and Other Segments Markets - Independent Analysis of Annual Sales in Megawatts for Years 2012 through 2019 and % CAGR |
| Japan 15-Year Perspective for Turbines by Product Segment - Percentage Breakdown of Value Sales for Steam Turbines, Wind Turbines, Gas Turbines and Other Segments for the Years 2012, 2020 & 2027 |
| CHINA |
| China Current & Future Analysis for Turbines by Product Segment - Steam Turbines, Wind Turbines, Gas Turbines and Other Segments - Independent Analysis of Annual Sales in Megawatts for the Years 2020 through 2027 and % CAGR |
| China Historic Review for Turbines by Product Segment - Steam Turbines, Wind Turbines, Gas Turbines and Other Segments Markets - Independent Analysis of Annual Sales in Megawatts for Years 2012 through 2019 and % CAGR |
| China 15-Year Perspective for Turbines by Product Segment - Percentage Breakdown of Value Sales for Steam Turbines, Wind Turbines, Gas Turbines and Other Segments for the Years 2012, 2020 & 2027 |
| EUROPE |
| Europe Current & Future Analysis for Turbines by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Sales in Megawatts for Years 2020 through 2027 and % CAGR |
| Europe Historic Review for Turbines by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Sales in Megawatts for Years 2012 through 2019 and % CAGR |
| Europe 15-Year Perspective for Turbines by Geographic Region - Percentage Breakdown of Value Sales for France, Germany, Italy, UK and Rest of Europe Markets for Years 2012, 2020 & 2027 |
| Europe Current & Future Analysis for Turbines by Product Segment - Steam Turbines, Wind Turbines, Gas Turbines and Other Segments - Independent Analysis of Annual Sales in Megawatts for the Years 2020 through 2027 and % CAGR |
| Europe Historic Review for Turbines by Product Segment - Steam Turbines, Wind Turbines, Gas Turbines and Other Segments Markets - Independent Analysis of Annual Sales in Megawatts for Years 2012 through 2019 and % CAGR |
| Europe 15-Year Perspective for Turbines by Product Segment - Percentage Breakdown of Value Sales for Steam Turbines, Wind Turbines, Gas Turbines and Other Segments for the Years 2012, 2020 & 2027 |
| FRANCE |
| France Current & Future Analysis for Turbines by Product Segment - Steam Turbines, Wind Turbines, Gas Turbines and Other Segments - Independent Analysis of Annual Sales in Megawatts for the Years 2020 through 2027 and % CAGR |
| France Historic Review for Turbines by Product Segment - Steam Turbines, Wind Turbines, Gas Turbines and Other Segments Markets - Independent Analysis of Annual Sales in Megawatts for Years 2012 through 2019 and % CAGR |
| France 15-Year Perspective for Turbines by Product Segment - Percentage Breakdown of Value Sales for Steam Turbines, Wind Turbines, Gas Turbines and Other Segments for the Years 2012, 2020 & 2027 |
| GERMANY |
| Germany Current & Future Analysis for Turbines by Product Segment - Steam Turbines, Wind Turbines, Gas Turbines and Other Segments - Independent Analysis of Annual Sales in Megawatts for the Years 2020 through 2027 and % CAGR |
| Germany Historic Review for Turbines by Product Segment - Steam Turbines, Wind Turbines, Gas Turbines and Other Segments Markets - Independent Analysis of Annual Sales in Megawatts for Years 2012 through 2019 and % CAGR |
| Germany 15-Year Perspective for Turbines by Product Segment - Percentage Breakdown of Value Sales for Steam Turbines, Wind Turbines, Gas Turbines and Other Segments for the Years 2012, 2020 & 2027 |
| ITALY |
| Italy Current & Future Analysis for Turbines by Product Segment - Steam Turbines, Wind Turbines, Gas Turbines and Other Segments - Independent Analysis of Annual Sales in Megawatts for the Years 2020 through 2027 and % CAGR |
| Italy Historic Review for Turbines by Product Segment - Steam Turbines, Wind Turbines, Gas Turbines and Other Segments Markets - Independent Analysis of Annual Sales in Megawatts for Years 2012 through 2019 and % CAGR |
| Italy 15-Year Perspective for Turbines by Product Segment - Percentage Breakdown of Value Sales for Steam Turbines, Wind Turbines, Gas Turbines and Other Segments for the Years 2012, 2020 & 2027 |
| UNITED KINGDOM |
| UK Current & Future Analysis for Turbines by Product Segment - Steam Turbines, Wind Turbines, Gas Turbines and Other Segments - Independent Analysis of Annual Sales in Megawatts for the Years 2020 through 2027 and % CAGR |
| UK Historic Review for Turbines by Product Segment - Steam Turbines, Wind Turbines, Gas Turbines and Other Segments Markets - Independent Analysis of Annual Sales in Megawatts for Years 2012 through 2019 and % CAGR |
| UK 15-Year Perspective for Turbines by Product Segment - Percentage Breakdown of Value Sales for Steam Turbines, Wind Turbines, Gas Turbines and Other Segments for the Years 2012, 2020 & 2027 |
| REST OF EUROPE |
| Rest of Europe Current & Future Analysis for Turbines by Product Segment - Steam Turbines, Wind Turbines, Gas Turbines and Other Segments - Independent Analysis of Annual Sales in Megawatts for the Years 2020 through 2027 and % CAGR |
| Rest of Europe Historic Review for Turbines by Product Segment - Steam Turbines, Wind Turbines, Gas Turbines and Other Segments Markets - Independent Analysis of Annual Sales in Megawatts for Years 2012 through 2019 and % CAGR |
| Rest of Europe 15-Year Perspective for Turbines by Product Segment - Percentage Breakdown of Value Sales for Steam Turbines, Wind Turbines, Gas Turbines and Other Segments for the Years 2012, 2020 & 2027 |
| ASIA-PACIFIC |
| Asia-Pacific Current & Future Analysis for Turbines by Product Segment - Steam Turbines, Wind Turbines, Gas Turbines and Other Segments - Independent Analysis of Annual Sales in Megawatts for the Years 2020 through 2027 and % CAGR |
| Asia-Pacific Historic Review for Turbines by Product Segment - Steam Turbines, Wind Turbines, Gas Turbines and Other Segments Markets - Independent Analysis of Annual Sales in Megawatts for Years 2012 through 2019 and % CAGR |
| Asia-Pacific 15-Year Perspective for Turbines by Product Segment - Percentage Breakdown of Value Sales for Steam Turbines, Wind Turbines, Gas Turbines and Other Segments for the Years 2012, 2020 & 2027 |
| REST OF WORLD |
| Rest of World Current & Future Analysis for Turbines by Product Segment - Steam Turbines, Wind Turbines, Gas Turbines and Other Segments - Independent Analysis of Annual Sales in Megawatts for the Years 2020 through 2027 and % CAGR |
| Rest of World Historic Review for Turbines by Product Segment - Steam Turbines, Wind Turbines, Gas Turbines and Other Segments Markets - Independent Analysis of Annual Sales in Megawatts for Years 2012 through 2019 and % CAGR |
| Rest of World 15-Year Perspective for Turbines by Product Segment - Percentage Breakdown of Value Sales for Steam Turbines, Wind Turbines, Gas Turbines and Other Segments for the Years 2012, 2020 & 2027 |
| IV. COMPETITION |
| Total Companies Profiled: 98 |
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