Global Steam Turbine Market Capacity Outlook (Volume, Mega Watt; Revenue, USD Million, 2014 - 2025)

Global Steam Turbine Market is predicted to grow significantly in the forecast period owing to the rise in demand for electricity and consistent increasing investments for capacity expansions. Steam turbines are the devices that extract thermal energy from steam and convert it into mechanical work with the help of rotating output shaft.

The rotational process of electrical generator produces electricity. Steam turbines are capable of utilizing high temperature, high pressure steam and need no internal lubrication. They have high rotational speed, capacity and weight ratio. They perform smoothly with almost vibration-free operation and come with oil free exhaust steam. Besides, they can be suitably built in small or larger units (till 1200 MW). Increasing investment for development of high capacity generation stores along with rising government investment for the development of combined cycle technology are driving the demand for steam turbines, thereby affecting the steam turbine industry.

Download Free Sample  - https://www.millioninsights.com/industry-reports/steam-turbine-market-size/request-sample

Furthermore, the extensive growth and increase in marine excavation will impressively influence the growth of steam turbines market. Growing measures to lessen electricity demand and supply gap with the current development of thermal power projects are expected to drive the steam turbine market growth in future. Nevertheless, strict government regulations concerning the replacement of conventional energy resources with renewable sources will hinder the progress of the market in the years to come.

Steam turbine industry is categorized on the basis of steam flow, blade design, application, and geography. On the basis of steam flow, the market is divided into axial, radial, mixed, tangential or helical, and reentry. Based on blade design, the industry is divided into impulse and reaction. In terms of application, steam turbine is split into petrochemical, power generation, pharmaceutical, food processing, waste to energy and many others. Power generation segment is expected to lead in the forecast period owing to increasing government initiatives, with respect to adoption of efficient technology along with increase in demand for electrification. 

Geographically, steam turbine market is segmented as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America is predicted to hold larger market share of steam turbine followed by Europe and Asia Pacific since these developing areas can bring immense potential opportunities.

Comments

Post a Comment

Popular posts from this blog

Medical Device Validation & Verification Market Outlook Till, 2020-2027

The global medical device validation and verification market size is expected to reach USD 1.1 billion by 2027, expanding at a CAGR of 11.1% over the forecast period, according to a new report by Grand View Research, Inc. Download Free Sample -  https://www.radiantinsights.com/research/medical-device-validation-&-verification-market/request-sample Increase in demand for advanced and quality medical products and rising complexity with respect to product designing and engineering are anticipated to boost market growth. Rapid innovations in healthcare have increased the need for companies to incorporate new technologies and software applications in their products to meet the demand for validation and verification. Increase in product complexity, availability of newer types of material, and high risk of product failures are some of the key factors increasing the need for validation and verification services. North America dominated the global medical device validation and verificat...
Read more

Athleisure Market Product Estimates & Strategy Framework To 2022 - 2030.

The global  athleisure market  size is expected to reach USD 662.56 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.9% from 2022 to 2030. Athleisure is a popular category because it taps into several broad trends, including a global shift toward consumers wearing more casual clothing, consumers seeking comfortable clothing, and health-conscious consumers engaging in more athletic activities and requiring performance clothing for these activities. True Fit's Fashion Genome (via Direct Commerce), which analyses data from 17,000 brands and 180 million True Fit users, confirms that athleisure orders have increased by 84 percent since the pandemic began; sales of women's athleisure bottoms in the United Kingdom alone were five times higher in December 2020 than in April 2020. In addition, order volumes for men's athleisure wear sales increased by 20% from the previous year. Target's activewear line, All ...
Read more

Light Curing Coating Global Market Size Comparison, Analysis, 2020

UV light-curing equipment is ideal for industrial bonding, coating, encapsulating, and potting, as well as sealing applications. In the context of China-US trade war and global economic volatility and uncertainty, it will have a big influence on this market. Light Curing Coating Report by Material, Application, and Geography - Global Forecast to 2023 is a professional and comprehensive research report on the world's major regional market conditions, focusing on the main regions (North America, Europe and Asia-Pacific) and the main countries (United States, Germany, United Kingdom, Japan, South Korea and China). Download Free Sample Copy  -  https://www.radiantinsights.com/research/global-light-curing-coating-market-research-report-2020-2024/request-sample In this report, the global Light Curing Coating market is valued at USD XX million in 2020 and is projected to reach USD XX million by the end of 2024, growing at a CAGR of XX% during the period 2020 to 2024. The report first...
Read more