Steam Turbine Market Growth by End-user, Type, and Geography - Forecast and Analysis 2023-2027

Published: Mar 2023 Pages: 167 SKU: IRTNTR75079

The steam turbine market is estimated to grow at a CAGR of 3.82% between 2022 and 2027. The size of the market is forecast to increase by USD 3,416.12 million. The growth of the market depends on several factors, including growing demand for power generation, several advantages of using steam turbines, and the growing use of steam turbines in CHP systems.

This report extensively covers market segmentation by end-user (utility and industrial), type (reaction and impulse), and geography (APAC, North America, Europe, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

What will be the Size of the Steam Turbine Market During the Forecast Period?

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Steam Turbine Market: Key Drivers, Trends, Challenges, and Customer Landscape

The growing demand for power generation is notably driving the market growth, although different technical and safety issues related to steam turbines may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Steam Turbine Market Driver

The increasing demand for power generation is notably driving the steam turbine market growth. A mechanical device known as a steam turbine uses pressurized steam to extract heat energy and convert it into rotational motion. Due to their high thermal efficiency and high power-to-weight ratio, they have almost completely replaced reciprocating steam engines. About 80% of the world's electricity is generated by steam turbines. Steam turbines are suitable for driving electrical generators through rotational motion. As the world transitions to a more digital economy, the demand for efficient and reliable power generation is increasing. Demand for steam turbines is expected to increase during the forecast period as they are a reliable and affordable method of power generation. Most of the electricity produced worldwide comes from steam power plants. Electricity demand is expected to soar as the world's population grows. This is expected to increase the demand for steam turbines.

By using gas turbines to generate electricity, steam turbines allow power plants to use the gas and heat produced by the process to produce steam, thus producing more electricity. In large-scale industrial applications, combined cycle power plants backed by steam turbines can produce or achieve power generation efficiencies above the 50% mark. Steam turbine engines are used to generate most of the electricity in the United States. Steam turbines are a critical component of many American industries today because of their high efficiency, low cost, and positive environmental impact. Therefore, increasing demand for power generation will be the major factor driving the growth of the global steam turbine market during the forecast period. 

Significant Steam Turbine Market Trend

The increasing focus on renewable technologies is a key trend influencing the steam turbine market growth. Steam turbines are often used in the field of renewable energy, from solar heat, biomass, district heating, desalination, and waste to energy or power plants. The steam turbine market is expected to grow due to growing interest in renewable energy. Steam turbines are integral to heat-based renewable energy generation, such as concentrating solar, geothermal, biomass, and waste power plants. Steam turbines, combined with heat storage systems, provide affordable, plannable, and CO2-neutral power, ensuring grid supply stability and security.

Renewable energy, also known as clean energy, provides reliable energy sources and fuel types, increases energy security, and reduces the potential for fuel pollution. The main goals of renewable energy are to boost economic growth, increase energy security, expand access to electricity, and slow global warming. Steam turbines are a clean energy source with little or no environmental impact. With increasing emphasis on renewable energy sources, the global steam turbine market is expected to grow over the forecast period. 

Major Steam Turbine Market Challenge

The mechanical problems associated with steam turbines are challenging the steam turbine market growth. In industrial settings, steam turbines are one of the most important mechanical components. These complex machines have many moving parts and require special maintenance. Lack of maintenance can lead to several problems, such as blade damage, excessive vibration, overheating, and steam outlet. These issues make the turbines prone to failure, get damaged or destabilized, can create different safety issues for operators, and many more. Therefore, several issues related to steam turbines are likely to pose major challenges to the growth of the global steam turbine market during the forecast period. 

Additionally, installing a steam turbine requires a large capital investment. Before building a turbine, market participants must complete a number of administrative processes and tasks, which are costly. In addition to turbine installation, major costs also include foundations, control technology, grid connections, assets, electrical installations, road construction, and other costs. Installation costs vary by region and technology. The resulting high installation costs are likely to reduce the demand for steam turbines during the forecast period. 

Key Steam Turbine Market Customer Landscape

The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Steam Turbine Market Customer Landscape

Who are the Major Steam Turbine Market Vendors?

Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

ALSTOM SA: The company offers a large number of steam turbine cylinder retrofits with DEC600 MW steam turbine units. It also offers different products, light rail vehicles, metros, and other locomotives.

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:

  • Baker Hughes Co.
  • Dongfang Electric Corp. Ltd.
  • Doosan Corp.
  • Downer EDI Ltd.
  • Ebara Corp.
  • General Electric Co.
  • Hangzhou Steam Turbine Power Group Co. Ltd.
  • Harbin Turbine Co. Ltd.
  • Heinzmann GmbH and Co. KG
  • Howden Group Ltd.
  • Mitsubishi Heavy Industries Ltd.
  • Moog Inc.
  • Nanjing Turbine and Electric Machinery Group Co. Ltd.
  • Porsche Automobil Holding SE
  • Shandong Qingneng Power Co. Ltd.

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

What is the Fastest-Growing Segments in the Steam Turbine Market?

The market share growth by the utility segment will be significant during the forecast period. Almost all power plant operators that use steam to generate electricity use steam turbines as their primary propulsion system. A generator is driven by a turbine to produce electricity. The amount of steam required to generate electricity determines the size of the power plant, the type and configuration of equipment used in the steam power plant, etc. The growth of the industrial sector is associated with the expansion of global industrial activity. CHP turbines are used as steam turbines in industrial applications. These units produce multiple outputs and are more efficient than a single unit. Therefore, increasing use of steam turbines in power utilities is expected to drive the growth of the segment in the global steam turbine market during the forecast period.  

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The utility segment was valued at USD 13,229.40 million in 2017 and continued to grow until 2021. A reaction turbine consists of an alternating set of fixed and movable nozzles (blades). Steam expands in both the fixed and movable nozzles of the reaction turbine. In other words, the steam continues to expand as it flows over the blades. Blades have pressure and velocity losses. Convergent steam nozzles are located on the rotating blades. As a result, when steam flows over stationary vanes, both its kinetic energy and steam pressure increase as it expands. In a reaction turbine, where pressure potential energy is converted to kinetic energy, the steam expands through a fixed nozzle. Thus, the increasing use of these different steam turbines is expected to drive the growth of the segment in the global steam turbine market during the forecast period.

Which are the Key Regions for the Steam Turbine Market?

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APAC is estimated to contribute 71% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

The APAC global steam turbine market is expected to rise at a considerable rate during the forecast period. Countries such as China, Japan, and India are contributing significantly to the growth of the regional gas turbine market in terms of revenue. This is due to the tremendous growth of the electricity consumption sector in the Asia-Pacific region. Rising urban populations and rising living standards have made electricity a valuable commodity in major APAC countries. As a result,  governments in various APAC countries have opened their power generation sector to private operators. This helps achieve the necessary efficiencies in power generation and distribution.

In 2020, the APAC steam turbine market was adversely affected by the COVID-19 pandemic. Strict lockdowns imposed by governments in countries such as China, India, and Japan have reduced energy use in commercial facilities due to the outbreak. Most steam turbine manufacturing plants closed in the first half of 2020 to curb the spread of the disease. However, the lockdown will be lifted in 2021 with the start of a mass vaccination campaign. This has brought steam turbine plants back into operation, further increasing the demand for steam turbines in APAC. Additionally, major vendors operating in the region are receiving orders that are expected to help record growth during the forecast period.

Segment Overview

The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

  • End-user Outlook (USD Million, 2017 - 2027)
    • Utility
    • Industrial
  • Type Outlook (USD Million, 2017 - 2027)
    • Reaction
    • Impulse
  • Region Outlook (USD Million, 2017 - 2027)
    • North America
      • The U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
      • France
      • Rest of Europe
    • APAC
      • China
      • India
    • South America
      • Chile
      • Brazil
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa

Parent Market Analysis

Technavio classifies the global steam turbine market as part of the global renewable energy market within the global independent energy and renewable power market. The overall global renewable energy market includes companies engaged in the generation and distribution of electricity from renewable energy sources. The global renewable power market size includes revenue generated by independent power producers' generation and distribution, gas and power marketing and trading professionals, and integrated energy traders and companies involved in renewable power. 

Steam Turbine Market Scope

Report Coverage

Details

Page number

167

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 3.82%

Market growth 2023-2027

USD 3416.12 million

Market structure

Fragmented

YoY growth 2022-2023(%)

2.7

Regional analysis

APAC, North America, Europe, Middle East and Africa, and South America

Performing market contribution

APAC at 71%

Key countries

US, China, India, Japan, and South Korea

Competitive landscape

 Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

ALSTOM SA, Baker Hughes Co., Dongfang Electric Corp. Ltd., Doosan Corp., Downer EDI Ltd., Ebara Corp., General Electric Co., Hangzhou Steam Turbine Power Group Co. Ltd., Harbin Turbine Co. Ltd., Heinzmann GmbH and Co. KG, Howden Group Ltd., Mitsubishi Heavy Industries Ltd., Moog Inc., Nanjing Turbine and Electric Machinery Group Co. Ltd., Porsche Automobil Holding SE, Shandong Qingneng Power Co. Ltd., Shanghai Electric Group Co. Ltd., Siemens AG, Sumitomo Heavy Industries Ltd., and Triveni Engineering and Industries Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Steam Turbine Market Report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the steam turbine market between 2023 and 2027
  • Precise estimation of the size of the steam turbine market size and its contribution of the market in focus to the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the market industry across APAC, North America, Europe, Middle East and Africa, and South America
  • Thorough analysis of the market’s competitive landscape and detailed information about vendors
  • Comprehensive analysis of factors that will challenge the growth of steam turbine market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch

1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
    • 3.4 Market outlook: Forecast for 2022-2027
      • Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

    4 Historic Market Size

    • 4.1 Global steam turbine market 2017 - 2021
      • Exhibit 18: Historic Market Size – Data Table on Global steam turbine market 2017 - 2021 ($ million)
    • 4.2 End-user Segment Analysis 2017 - 2021
      • Exhibit 19: Historic Market Size – End-user Segment 2017 - 2021 ($ million)
    • 4.3 Type Segment Analysis 2017 - 2021
      • Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 ($ million)
    • 4.4 Geography Segment Analysis 2017 - 2021
      • Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)
    • 4.5 Country Segment Analysis 2017 - 2021
      • Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

    6 Market Segmentation by End-user

    • 6.1 Market segments
      • Exhibit 30: Chart on End-user - Market share 2022-2027 (%)
      • Exhibit 31: Data Table on End-user - Market share 2022-2027 (%)
    • 6.2 Comparison by End-user
      • Exhibit 32: Chart on Comparison by End-user
      • Exhibit 33: Data Table on Comparison by End-user
    • 6.3 Utility - Market size and forecast 2022-2027
      • Exhibit 34: Chart on Utility - Market size and forecast 2022-2027 ($ million)
      • Exhibit 35: Data Table on Utility - Market size and forecast 2022-2027 ($ million)
      • Exhibit 36: Chart on Utility - Year-over-year growth 2022-2027 (%)
      • Exhibit 37: Data Table on Utility - Year-over-year growth 2022-2027 (%)
    • 6.4 Industrial - Market size and forecast 2022-2027
      • Exhibit 38: Chart on Industrial - Market size and forecast 2022-2027 ($ million)
      • Exhibit 39: Data Table on Industrial - Market size and forecast 2022-2027 ($ million)
      • Exhibit 40: Chart on Industrial - Year-over-year growth 2022-2027 (%)
      • Exhibit 41: Data Table on Industrial - Year-over-year growth 2022-2027 (%)
    • 6.5 Market opportunity by End-user
      • Exhibit 42: Market opportunity by End-user ($ million)
      • Exhibit 43: Data Table on Market opportunity by End-user ($ million)

    7 Market Segmentation by Type

    • 7.1 Market segments
      • Exhibit 44: Chart on Type - Market share 2022-2027 (%)
      • Exhibit 45: Data Table on Type - Market share 2022-2027 (%)
    • 7.2 Comparison by Type
      • Exhibit 46: Chart on Comparison by Type
      • Exhibit 47: Data Table on Comparison by Type
    • 7.3 Reaction - Market size and forecast 2022-2027
      • Exhibit 48: Chart on Reaction - Market size and forecast 2022-2027 ($ million)
      • Exhibit 49: Data Table on Reaction - Market size and forecast 2022-2027 ($ million)
      • Exhibit 50: Chart on Reaction - Year-over-year growth 2022-2027 (%)
      • Exhibit 51: Data Table on Reaction - Year-over-year growth 2022-2027 (%)
    • 7.4 Impulse - Market size and forecast 2022-2027
      • Exhibit 52: Chart on Impulse - Market size and forecast 2022-2027 ($ million)
      • Exhibit 53: Data Table on Impulse - Market size and forecast 2022-2027 ($ million)
      • Exhibit 54: Chart on Impulse - Year-over-year growth 2022-2027 (%)
      • Exhibit 55: Data Table on Impulse - Year-over-year growth 2022-2027 (%)
    • 7.5 Market opportunity by Type
      • Exhibit 56: Market opportunity by Type ($ million)
      • Exhibit 57: Data Table on Market opportunity by Type ($ million)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 58: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 59: Chart on Market share by geography 2022-2027 (%)
      • Exhibit 60: Data Table on Market share by geography 2022-2027 (%)
    • 9.2 Geographic comparison
      • Exhibit 61: Chart on Geographic comparison
      • Exhibit 62: Data Table on Geographic comparison
    • 9.3 APAC - Market size and forecast 2022-2027
      • Exhibit 63: Chart on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 64: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 65: Chart on APAC - Year-over-year growth 2022-2027 (%)
      • Exhibit 66: Data Table on APAC - Year-over-year growth 2022-2027 (%)
    • 9.4 North America - Market size and forecast 2022-2027
      • Exhibit 67: Chart on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 68: Data Table on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 69: Chart on North America - Year-over-year growth 2022-2027 (%)
      • Exhibit 70: Data Table on North America - Year-over-year growth 2022-2027 (%)
    • 9.5 Europe - Market size and forecast 2022-2027
      • Exhibit 71: Chart on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 72: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 73: Chart on Europe - Year-over-year growth 2022-2027 (%)
      • Exhibit 74: Data Table on Europe - Year-over-year growth 2022-2027 (%)
    • 9.6 Middle East and Africa - Market size and forecast 2022-2027
      • Exhibit 75: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 76: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 77: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
      • Exhibit 78: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
    • 9.7 South America - Market size and forecast 2022-2027
      • Exhibit 79: Chart on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 80: Data Table on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 81: Chart on South America - Year-over-year growth 2022-2027 (%)
      • Exhibit 82: Data Table on South America - Year-over-year growth 2022-2027 (%)
    • 9.8 China - Market size and forecast 2022-2027
      • Exhibit 83: Chart on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 84: Data Table on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 85: Chart on China - Year-over-year growth 2022-2027 (%)
      • Exhibit 86: Data Table on China - Year-over-year growth 2022-2027 (%)
    • 9.9 US - Market size and forecast 2022-2027
      • Exhibit 87: Chart on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 88: Data Table on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 89: Chart on US - Year-over-year growth 2022-2027 (%)
      • Exhibit 90: Data Table on US - Year-over-year growth 2022-2027 (%)
    • 9.10 India - Market size and forecast 2022-2027
      • Exhibit 91: Chart on India - Market size and forecast 2022-2027 ($ million)
      • Exhibit 92: Data Table on India - Market size and forecast 2022-2027 ($ million)
      • Exhibit 93: Chart on India - Year-over-year growth 2022-2027 (%)
      • Exhibit 94: Data Table on India - Year-over-year growth 2022-2027 (%)
    • 9.11 Japan - Market size and forecast 2022-2027
      • Exhibit 95: Chart on Japan - Market size and forecast 2022-2027 ($ million)
      • Exhibit 96: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
      • Exhibit 97: Chart on Japan - Year-over-year growth 2022-2027 (%)
      • Exhibit 98: Data Table on Japan - Year-over-year growth 2022-2027 (%)
    • 9.12 South Korea - Market size and forecast 2022-2027
      • Exhibit 99: Chart on South Korea - Market size and forecast 2022-2027 ($ million)
      • Exhibit 100: Data Table on South Korea - Market size and forecast 2022-2027 ($ million)
      • Exhibit 101: Chart on South Korea - Year-over-year growth 2022-2027 (%)
      • Exhibit 102: Data Table on South Korea - Year-over-year growth 2022-2027 (%)
    • 9.13 Market opportunity by geography
      • Exhibit 103: Market opportunity by geography ($ million)
      • Exhibit 104: Data Tables on Market opportunity by geography ($ million)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 105: Impact of drivers and challenges in 2022 and 2027
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 106: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 107: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 108: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 109: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 110: Matrix on vendor position and classification
            • 12.3 ALSTOM SA
              • Exhibit 111: ALSTOM SA - Overview
              • Exhibit 112: ALSTOM SA - Business segments
              • Exhibit 113: ALSTOM SA - Key news
              • Exhibit 114: ALSTOM SA - Key offerings
              • Exhibit 115: ALSTOM SA - Segment focus
            • 12.4 Baker Hughes Co.
              • Exhibit 116: Baker Hughes Co. - Overview
              • Exhibit 117: Baker Hughes Co. - Business segments
              • Exhibit 118: Baker Hughes Co. - Key news
              • Exhibit 119: Baker Hughes Co. - Key offerings
              • Exhibit 120: Baker Hughes Co. - Segment focus
            • 12.5 Dongfang Electric Corp. Ltd.
              • Exhibit 121: Dongfang Electric Corp. Ltd. - Overview
              • Exhibit 122: Dongfang Electric Corp. Ltd. - Product / Service
              • Exhibit 123: Dongfang Electric Corp. Ltd. - Key offerings
            • 12.6 Doosan Corp.
              • Exhibit 124: Doosan Corp. - Overview
              • Exhibit 125: Doosan Corp. - Business segments
              • Exhibit 126: Doosan Corp. - Key offerings
              • Exhibit 127: Doosan Corp. - Segment focus
            • 12.7 Ebara Corp.
              • Exhibit 128: Ebara Corp. - Overview
              • Exhibit 129: Ebara Corp. - Business segments
              • Exhibit 130: Ebara Corp. - Key offerings
              • Exhibit 131: Ebara Corp. - Segment focus
            • 12.8 General Electric Co.
              • Exhibit 132: General Electric Co. - Overview
              • Exhibit 133: General Electric Co. - Business segments
              • Exhibit 134: General Electric Co. - Key news
              • Exhibit 135: General Electric Co. - Key offerings
              • Exhibit 136: General Electric Co. - Segment focus
            • 12.9 Hangzhou Steam Turbine Power Group Co. Ltd.
              • Exhibit 137: Hangzhou Steam Turbine Power Group Co. Ltd. - Overview
              • Exhibit 138: Hangzhou Steam Turbine Power Group Co. Ltd. - Product / Service
              • Exhibit 139: Hangzhou Steam Turbine Power Group Co. Ltd. - Key offerings
            • 12.10 Harbin Turbine Co. Ltd.
              • Exhibit 140: Harbin Turbine Co. Ltd. - Overview
              • Exhibit 141: Harbin Turbine Co. Ltd. - Product / Service
              • Exhibit 142: Harbin Turbine Co. Ltd. - Key offerings
            • 12.11 Mitsubishi Heavy Industries Ltd.
              • Exhibit 143: Mitsubishi Heavy Industries Ltd. - Overview
              • Exhibit 144: Mitsubishi Heavy Industries Ltd. - Business segments
              • Exhibit 145: Mitsubishi Heavy Industries Ltd. - Key news
              • Exhibit 146: Mitsubishi Heavy Industries Ltd. - Key offerings
              • Exhibit 147: Mitsubishi Heavy Industries Ltd. - Segment focus
            • 12.12 Nanjing Turbine and Electric Machinery Group Co. Ltd.
              • Exhibit 148: Nanjing Turbine and Electric Machinery Group Co. Ltd. - Overview
              • Exhibit 149: Nanjing Turbine and Electric Machinery Group Co. Ltd. - Product / Service
              • Exhibit 150: Nanjing Turbine and Electric Machinery Group Co. Ltd. - Key offerings
            • 12.13 Porsche Automobil Holding SE
              • Exhibit 151: Porsche Automobil Holding SE - Overview
              • Exhibit 152: Porsche Automobil Holding SE - Business segments
              • Exhibit 153: Porsche Automobil Holding SE - Key offerings
              • Exhibit 154: Porsche Automobil Holding SE - Segment focus
            • 12.14 Shandong Qingneng Power Co. Ltd.
              • Exhibit 155: Shandong Qingneng Power Co. Ltd. - Overview
              • Exhibit 156: Shandong Qingneng Power Co. Ltd. - Product / Service
              • Exhibit 157: Shandong Qingneng Power Co. Ltd. - Key offerings
            • 12.15 Shanghai Electric Group Co. Ltd.
              • Exhibit 158: Shanghai Electric Group Co. Ltd. - Overview
              • Exhibit 159: Shanghai Electric Group Co. Ltd. - Product / Service
              • Exhibit 160: Shanghai Electric Group Co. Ltd. - Key offerings
            • 12.16 Siemens AG
              • Exhibit 161: Siemens AG - Overview
              • Exhibit 162: Siemens AG - Business segments
              • Exhibit 163: Siemens AG - Key news
              • Exhibit 164: Siemens AG - Key offerings
              • Exhibit 165: Siemens AG - Segment focus
            • 12.17 Triveni Engineering and Industries Ltd.
              • Exhibit 166: Triveni Engineering and Industries Ltd. - Overview
              • Exhibit 167: Triveni Engineering and Industries Ltd. - Business segments
              • Exhibit 168: Triveni Engineering and Industries Ltd. - Key offerings
              • Exhibit 169: Triveni Engineering and Industries Ltd. - Segment focus

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 170: Inclusions checklist
                • Exhibit 171: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 172: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 173: Research methodology
                • Exhibit 174: Validation techniques employed for market sizing
                • Exhibit 175: Information sources
              • 13.5 List of abbreviations
                • Exhibit 176: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              INFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases

              DATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts

              REPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape

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              Key Questions Answered

              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?

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