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Turbines - Global Market Trajectory & Analytics

  • ID: 338717
  • Report
  • July 2020
  • Region: Global
  • 188 Pages
  • Global Industry Analysts, Inc
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FEATURED COMPANIES

  • ABB Ltd. (Switzerland)
  • Caterpillar, Inc. (US)
  • Enercon GmbH (Germany)
  • GE Energy (US)
  • Jeumont Electric (France)
  • Senvion SE (Germany)
  • MORE
Global Turbines Market to Reach 315.7 Thousand Megawatts by 2027

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 U.S. Market is Estimated at 74 Thousand Megawatts, While China is Forecast to Grow at 3.3% CAGR

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.

Gas Turbines Segment to Record 2.9% 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.We bring years of research experience to this 20th edition of our report. The 188-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.

Competitors identified in this market include, among others:
  • 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.

The global analysis and forecast periods covered within the report are 2020-2027 (Current & Future Analysis) and 2012-2019 (Historic Review). Research estimates are provided for 2020, while research projections cover the period 2021-2027.
Note: Product cover images may vary from those shown
2 of 3

FEATURED COMPANIES

  • ABB Ltd. (Switzerland)
  • Caterpillar, Inc. (US)
  • Enercon GmbH (Germany)
  • GE Energy (US)
  • Jeumont Electric (France)
  • Senvion SE (Germany)
  • MORE

I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

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

Global Competitor Market Shares

Turbines Competitor Market Share Scenario Worldwide (in %): 2018 & 2029

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: Turbines Global Market Estimates and Forecasts in Megawatts by Region/Country: 2020-2027
TABLE 2: Turbines Global Retrospective Market Scenario in Megawatts by Region/Country: 2012-2019
TABLE 3: Turbines Market Share Shift across Key Geographies Worldwide: 2012 VS 2020 VS 2027
TABLE 4: Steam Turbines (Product Segment) World Market by Region/Country in Megawatts: 2020 to 2027
TABLE 5: Steam Turbines (Product Segment) Historic Market Analysis by Region/Country in Megawatts: 2012 to 2019
TABLE 6: Steam Turbines (Product Segment) Market Share Breakdown of Worldwide Sales by Region/Country: 2012 VS 2020 VS 2027
TABLE 7: Wind Turbines (Product Segment) Potential Growth Markets Worldwide in Megawatts: 2020 to 2027
TABLE 8: Wind Turbines (Product Segment) Historic Market Perspective by Region/Country in Megawatts: 2012 to 2019
TABLE 9: Wind Turbines (Product Segment) Market Sales Breakdown by Region/Country in Percentage: 2012 VS 2020 VS 2027
TABLE 10: Gas Turbines (Product Segment) Geographic Market Spread Worldwide in Megawatts: 2020 to 2027
TABLE 11: Gas Turbines (Product Segment) Region Wise Breakdown of Global Historic Demand in Megawatts: 2012 to 2019
TABLE 12: Gas Turbines (Product Segment) Market Share Distribution in Percentage by Region/Country: 2012 VS 2020 VS 2027
TABLE 13: Other Segments (Product Segment) World Market Estimates and Forecasts by Region/Country in Megawatts: 2020 to 2027
TABLE 14: Other Segments (Product Segment) Market Historic Review by Region/Country in Megawatts: 2012 to 2019
TABLE 15: Other Segments (Product Segment) Market Share Breakdown by Region/Country: 2012 VS 2020 VS 2027

Global Market Outlook

III. MARKET ANALYSIS

GEOGRAPHIC MARKET ANALYSIS

UNITED STATES

Market Facts & Figures

US Turbines Market Share (in %) by Company: 2018 & 2025

Market Analytics
TABLE 16: United States Turbines Market Estimates and Projections in Megawatts by Product Segment: 2020 to 2027
TABLE 17: Turbines Market in the United States by Product Segment: A Historic Review in Megawatts for 2012-2019
TABLE 18: United States Turbines Market Share Breakdown by Product Segment: 2012 VS 2020 VS 2027

CANADA

TABLE 19: Canadian Turbines Market Estimates and Forecasts in Megawatts by Product Segment: 2020 to 2027
TABLE 20: Canadian Turbines Historic Market Review by Product Segment in Megawatts: 2012-2019
TABLE 21: Turbines Market in Canada: Percentage Share Breakdown of Sales by Product Segment for 2012, 2020, and 2027

JAPAN

TABLE 22: Japanese Market for Turbines: Annual Sales Estimates and Projections in Megawatts by Product Segment for the Period 2020-2027
TABLE 23: Turbines Market in Japan: Historic Sales Analysis in Megawatts by Product Segment for the Period 2012-2019
TABLE 24: Japanese Turbines Market Share Analysis by Product Segment: 2012 VS 2020 VS 2027

CHINA

TABLE 25: Chinese Turbines Market Growth Prospects in Megawatts by Product Segment for the Period 2020-2027
TABLE 26: Turbines Historic Market Analysis in China in Megawatts by Product Segment: 2012-2019
TABLE 27: Chinese Turbines Market by Product Segment: Percentage Breakdown of Sales for 2012, 2020, and 2027

EUROPE

Market Facts & Figures

European Turbines Market: Competitor Market Share Scenario (in %) for 2018 & 2025

Market Analytics
TABLE 28: European Turbines Market Demand Scenario in Megawatts by Region/Country: 2020-2027
TABLE 29: Turbines Market in Europe: A Historic Market Perspective in Megawatts by Region/Country for the Period 2012-2019
TABLE 30: European Turbines Market Share Shift by Region/Country: 2012 VS 2020 VS 2027
TABLE 31: European Turbines Market Estimates and Forecasts in Megawatts by Product Segment: 2020-2027
TABLE 32: Turbines Market in Europe in Megawatts by Product Segment: A Historic Review for the Period 2012-2019
TABLE 33: European Turbines Market Share Breakdown by Product Segment: 2012 VS 2020 VS 2027

FRANCE

TABLE 34: Turbines Market in France by Product Segment: Estimates and Projections in Megawatts for the Period 2020-2027
TABLE 35: French Turbines Historic Market Scenario in Megawatts by Product Segment: 2012-2019
TABLE 36: French Turbines Market Share Analysis by Product Segment: 2012 VS 2020 VS 2027

GERMANY

TABLE 37: Turbines Market in Germany: Recent Past, Current and Future Analysis in Megawatts by Product Segment for the Period 2020-2027
TABLE 38: German Turbines Historic Market Analysis in Megawatts by Product Segment: 2012-2019
TABLE 39: German Turbines Market Share Breakdown by Product Segment: 2012 VS 2020 VS 2027

ITALY

TABLE 40: Italian Turbines Market Growth Prospects in Megawatts by Product Segment for the Period 2020-2027
TABLE 41: Turbines Historic Market Analysis in Italy in Megawatts by Product Segment: 2012-2019
TABLE 42: Italian Turbines Market by Product Segment: Percentage Breakdown of Sales for 2012, 2020, and 2027

UNITED KINGDOM

TABLE 43: United Kingdom Market for Turbines: Annual Sales Estimates and Projections in Megawatts by Product Segment for the Period 2020-2027
TABLE 44: Turbines Market in the United Kingdom: Historic Sales Analysis in Megawatts by Product Segment for the Period 2012-2019
TABLE 45: United Kingdom Turbines Market Share Analysis by Product Segment: 2012 VS 2020 VS 2027

REST OF EUROPE

TABLE 46: Rest of Europe Turbines Market Estimates and Forecasts in Megawatts by Product Segment: 2020-2027
TABLE 47: Turbines Market in Rest of Europe in Megawatts by Product Segment: A Historic Review for the Period 2012-2019
TABLE 48: Rest of Europe Turbines Market Share Breakdown by Product Segment: 2012 VS 2020 VS 2027

ASIA-PACIFIC

TABLE 49: Turbines Market in Asia-Pacific by Product Segment: Estimates and Projections in Megawatts for the Period 2020-2027
TABLE 50: Asia-Pacific Turbines Historic Market Scenario in Megawatts by Product Segment: 2012-2019
TABLE 51: Asia-Pacific Turbines Market Share Analysis by Product Segment: 2012 VS 2020 VS 2027

REST OF WORLD

TABLE 52: Rest of World Turbines Market Estimates and Forecasts in Megawatts by Product Segment: 2020 to 2027
TABLE 53: Rest of World Turbines Historic Market Review by Product Segment in Megawatts: 2012-2019
TABLE 54: Turbines Market in Rest of World: Percentage Share Breakdown of Sales by Product Segment for 2012, 2020, and 2027

IV. COMPETITION

Total Companies Profiled: 98

Note: Product cover images may vary from those shown
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  • ABB Ltd. (Switzerland)
  • Alstom SA (France)
  • Ansaldo Energia Spa (Italy)
  • Bharat Heavy Electricals Limited (India)
  • Caterpillar, Inc. (US)
  • DeWind Inc. (USA)
  • Dongfang Electric Corporation (China)
  • Enercon GmbH (Germany)
  • Gamesa (Spain)
  • GE Energy (US)
  • Goldwind Science & Technology Co., Ltd. (China)
  • Harbin Turbine Co., Ltd. (China)
  • Hitachi, Ltd. (Japan)
  • Jeumont Electric (France)
  • JFE Holdings, Inc., (Japan)
  • Mitsubishi Heavy Industries Ltd. (Japan)
  • Nordex Aktiengesellschaft (Germany)
  • Pratt & Whitney (US)
  • Rolls Royce Group Plc (UK)
  • Shanghai Electric Group Co., Ltd. (China)
  • Shin Nippon Machinery Co., Ltd. (Japan)
  • Siemens AG (Germany)
  • Suzlon Energy Limited (India)
  • Senvion SE (Germany)
  • Toshiba Corporation (Japan)
  • Vestas Wind Systems A/S (Denmark)
Note: Product cover images may vary from those shown
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