Below are some of the key findings from the industrial turbines market research report
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Global Industrial Turbines Industry Overview
The global automotive industry is evolving with the emergence of new technologies and development of new vehicles. In the last decade, electronic systems have replaced mechanical components in modern automobiles to a considerable extent. This can be attributed to the ever-growing need for increased information to the driver, lower emissions, and increased safety.
The development of autonomous vehicles is identified as one of the key emerging trends defining the global industrial turbines market. Autonomous cars are unmanned and navigate without human intervention by sensing their environment using devices such as radar, global positioning system (GPS), and ADAS. These cars are also known as self-driving cars, automated cars, and driverless cars. Overly complex working nature of autonomous cars has driven companies and OEMs to pool their R&D resources to design and develop successful prototypes that evolve over time to enhance the performance. The automotive industry is witnessing a structural shift in terms of the demand behavior of consumers. Industry experts have identified that the perception of car users toward car ownership is changing. People are shifting to cab services, carpooling, and car rentals because of the rising traffic congestions in urban cities. To adapt to the consumers’ behavioral shift, OEMs are focusing on advanced technologies. Owing to such factors the market is expected to grow at a CAGR of nearly 5% during the forecast period.
Top industrial turbines companies covered in this market research report
The industrial turbines market is moderately fragmented. By offering a complete analysis of the market’s competitive landscape and with information on the products offered by the companies, this industrial turbine industry analysis report will aid clients to identify new growth opportunities and plan better business strategies.
The report offers a complete analysis of various companies including:
- Ansaldo Energia
- BHEL
- GENERAL ELECTRIC
- Siemens
- Kawasaki Heavy Industries
- MITSUBISHI HEAVY INDUSTRIES
Industrial turbines market segmentation based on geographic regions
- Americas
- APAC
- EMEA
With a complete study of the growth opportunities for the companies, the APAC region will account for the highest growth of this market throughout the forecast period. However, EMEA held the largest share of the global industrial turbines market in 2017, accounting for a market share of approximately 46%.
Industrial turbines market segmentation based on products
- Gas turbines
- Steam turbines
The gas turbines product segment will account for the highest growth in the market. Additionally, the report also provides an accurate prediction of the contribution of the various products segments to the growth of the industrial turbines market size.
Key highlights of the global industrial turbines market for the forecast years 2018-2022:
- CAGR of the market during the forecast period 2018-2022
- Detailed information on factors that will accelerate the growth of the industrial turbines market during the next five years
- Precise estimation of the global industrial turbines market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- Growth of the industrial turbines industry across the Americas, APAC, and EMEA
- A thorough analysis of the market’s competitive landscape and detailed information on several vendors
- Comprehensive details on the factors that will challenge the growth of industrial turbines companies
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