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PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1231555

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PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1231555

Turbines

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Table of Contents

What`s New for 2023?

»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 our digital archives and MarketGlass Research Platform

»Complimentary updates for one year

Looking Ahead to 2023

The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel. The uncertainty around how Russia`s war on Ukraine will play out this year and the war`s role in creating global instability means that the trouble on the inflation front is not over yet. Food and fuel inflation will remain a persistent economic problem. Higher retail inflation will impact consumer confidence and spending. As governments combat inflation by raising interest rates, new job creation will slowdown and impact economic activity and growth. Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession. Fears of new COVID outbreaks and China's already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year. Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced. Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.

Global Turbines Market to Reach 416.1 Thousand Megawatts by 2030

In the changed post COVID-19 business landscape, 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 aCAGR of 6.1% over the 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.
Show more
Product Code: MCP-2579

TABLE OF CONTENTS

I. METHODOLOGY

II. 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

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