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Turbines: Global Strategic Business Report

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    Report

  • 221 Pages
  • April 2024
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 338717
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Global Turbines Market to Reach 416.1 Thousand Megawatts by 2030

The global market for Turbines estimated at 258.5 Thousand Megawatts in the year 2022, is projected to reach a revised size of 416.1 Thousand Megawatts by 2030, growing at a CAGR of 6.1% over the analysis period 2022-2030. Steam Turbines, one of the segments analyzed in the report, is projected to record -4% CAGR and reach 68.9 Thousand Megawatts by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Wind Turbines segment is readjusted to a revised 13% CAGR for the next 8-year period.

The U.S. Market is Estimated at 75.6 Thousand Megawatts, While China is Forecast to Grow at 6.3% CAGR

The Turbines market in the U.S. is estimated at 75.6 Thousand Megawatts in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of 75.9 Thousand Megawatts by the year 2030 trailing a CAGR of 6.3% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.6% and 5.9% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 6.6% CAGR.

Select Competitors (Total 98 Featured) -

  • 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.

What's New?

  • Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to digital archives and Research Platform
  • Complimentary updates for one year

Table of Contents

I. METHODOLOGYII. 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
  • Turbines - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • 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
  • Table 1: World Recent Past, 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 2022 through 2030 and % CAGR
  • Table 2: 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 2014 through 2021 and % CAGR
  • Table 3: World 16-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 2014, 2023 & 2030
  • Table 4: World Recent Past, 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 2022 through 2030 and % CAGR
  • Table 5: 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 2014 through 2021 and % CAGR
  • Table 6: World 16-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 2014, 2023 & 2030
  • Table 7: World Recent Past, 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 2022 through 2030 and % CAGR
  • Table 8: 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 2014 through 2021 and % CAGR
  • Table 9: World 16-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 2014, 2023 & 2030
  • Table 10: World Recent Past, 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 2022 through 2030 and % CAGR
  • Table 11: 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 2014 through 2021 and % CAGR
  • Table 12: World 16-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 2014, 2023 & 2030
  • Table 13: World Recent Past, 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 2022 through 2030 and % CAGR
  • Table 14: 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 2014 through 2021 and % CAGR
  • Table 15: World 16-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 2014, 2023 & 2030
  • Table 16: World Turbines Market Analysis of Annual Sales in Megawatts for Years 2014 through 2030
  • Global Market Outlook
III. MARKET ANALYSIS
UNITED STATES
  • Turbines Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2023 (E)
  • Table 17: USA Recent Past, 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 2022 through 2030 and % CAGR
  • Table 18: 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 2014 through 2021 and % CAGR
  • Table 19: USA 16-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 2014, 2023 & 2030
CANADA
  • Table 20: Canada Recent Past, 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 2022 through 2030 and % CAGR
  • Table 21: 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 2014 through 2021 and % CAGR
  • Table 22: Canada 16-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 2014, 2023 & 2030
JAPAN
  • Turbines Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2023 (E)
  • Table 23: Japan Recent Past, 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 2022 through 2030 and % CAGR
  • Table 24: 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 2014 through 2021 and % CAGR
  • Table 25: Japan 16-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 2014, 2023 & 2030
CHINA
  • Turbines Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2023 (E)
  • Table 26: China Recent Past, 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 2022 through 2030 and % CAGR
  • Table 27: 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 2014 through 2021 and % CAGR
  • Table 28: China 16-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 2014, 2023 & 2030
EUROPE
  • Turbines Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2023 (E)
  • Table 29: Europe Recent Past, 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 2022 through 2030 and % CAGR
  • Table 30: 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 2014 through 2021 and % CAGR
  • Table 31: Europe 16-Year Perspective for Turbines by Geographic Region - Percentage Breakdown of Value Sales for France, Germany, Italy, UK and Rest of Europe Markets for Years 2014, 2023 & 2030
  • Table 32: Europe Recent Past, 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 2022 through 2030 and % CAGR
  • Table 33: 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 2014 through 2021 and % CAGR
  • Table 34: Europe 16-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 2014, 2023 & 2030
FRANCE
  • Turbines Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2023 (E)
  • Table 35: France Recent Past, 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 2022 through 2030 and % CAGR
  • Table 36: 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 2014 through 2021 and % CAGR
  • Table 37: France 16-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 2014, 2023 & 2030
GERMANY
  • Turbines Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2023 (E)
  • Table 38: Germany Recent Past, 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 2022 through 2030 and % CAGR
  • Table 39: 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 2014 through 2021 and % CAGR
  • Table 40: Germany 16-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 2014, 2023 & 2030
ITALY
  • Table 41: Italy Recent Past, 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 2022 through 2030 and % CAGR
  • Table 42: 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 2014 through 2021 and % CAGR
  • Table 43: Italy 16-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 2014, 2023 & 2030
UNITED KINGDOM
  • Turbines Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2023 (E)
  • Table 44: UK Recent Past, 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 2022 through 2030 and % CAGR
  • Table 45: 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 2014 through 2021 and % CAGR
  • Table 46: UK 16-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 2014, 2023 & 2030
REST OF EUROPE
  • Table 47: Rest of Europe Recent Past, 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 2022 through 2030 and % CAGR
  • Table 48: 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 2014 through 2021 and % CAGR
  • Table 49: Rest of Europe 16-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 2014, 2023 & 2030
ASIA-PACIFIC
  • Turbines Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2023 (E)
  • Table 50: Asia-Pacific Recent Past, 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 2022 through 2030 and % CAGR
  • Table 51: 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 2014 through 2021 and % CAGR
  • Table 52: Asia-Pacific 16-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 2014, 2023 & 2030
REST OF WORLD
  • Table 53: Rest of World Recent Past, 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 2022 through 2030 and % CAGR
  • Table 54: 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 2014 through 2021 and % CAGR
  • Table 55: Rest of World 16-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 2014, 2023 & 2030
IV. COMPETITION

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • 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.

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