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Global Steam Turbine Market Analysis to 2020
Growing Global Thermal Power Industry.Thermal energy is the most commonly used source of energy for electricity generation around the world.
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Hyderabad,
AP,
India
(PRBD.net)
9/7/2010 12:00:00 AM
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Thermal energy is the most commonly used source of energy for electricity generation around the world. Hence, it also has a greater installed capacity when compared with any other source of energy. The global cumulative installed capacity for thermal energy as of 2000 was 2.6 TW which increased to 3.6 TW in 2009, representing a CAGR of 3.7% over this period. The installed capacity is also expected to follow the same trend in the forecast period, with the total installed capacity expected to be around 4.9 TW in 2020. These figures show the world’s dependence on thermal energy for power generation. A rising population and increases in the demand for electricity every year have prompted governments and companies to look for other ways to generate power, but it has been difficult to shift towards alternative sources of energy for power generation, because either they have been uneconomical or simply have not generated sufficient power to meet the demand.
The revenue from the steam turbines market started picking up pace in 2001, with a constant increase until 2007. In the year 2000, the revenue from this market was around $6.5 billion which increased to $12.1 billion in the year 2007. The financial crisis of 2008 made sure there was no further growth in the market. Investors’ lack of confidence limited investments, which led revenue to fall in the year 2008 and to $8.8 billion in 2009. The reason for this was the lack of financing options due to the liquidity crunch during the economic crisis period. Investors both lacked confidence in the projects being set up in the period and lacked the funds to invest in the projects they did have confidence in. The cost of capital went up significantly and it became either impossible or too expensive to finance the projects.
For further details, please click or add the below link to your browser:
http://www.globaldata.com/reportstore/Report.aspx?ID=Global-Steam-Turbine-Market-Analysis-to-2020--Market-Size-Competitive-Landscape-Trends-and-Analysis&ReportType=Industry_Report&coreindustry=Industry_Report&Title=Power_Generation
However, with the markets almost recovered from the financial setback, it is expected that, due to the increasing demand for electricity and the dominance of thermal sources of energy in the electricity generation market, the steam turbine business will begin to grow again. In 2020, GlobalData forecasts the revenue for the steam turbine market to be around $12.5 billion. This figure represents a CAGR of 3.2% when calculated on the base of 2009 data.
Shanghai Electric Group Company Limited has been leading the global steam turbine market in the last few years. The company can provide system equipment and general contract projects. Its products include power generation equipment, power transmission and distribution equipment, electromechanical integration equipment, transport equipment, machine tools, elevators, package and print machinery, environmental protection equipment, and others. Since 2005 it has consistently had a share of around 20% of the global steam turbine market. In 2009 it had a share of around 24% of the market, leading all the other manufacturers in this business.
This report gives detailed information on the Global Steam Turbine market and provides historical and forecast numbers for revenue, volume, market share and average price up to 2020. The research analyzes trends in the global steam turbine market and also detailed analysis for the leading countries in steam turbine business. This coupled with competitive benchmarking of the top market participant provides a comprehensive understanding of the market’s competitive scenario.
For further details, please click or add the below link to your browser:
http://www.globaldata.com/reportstore/Report.aspx?ID=Global-Steam-Turbine-Market-Analysis-to-2020--Market-Size-Competitive-Landscape-Trends-and-Analysis&ReportType=Industry_Report&coreindustry=Industry_Report&Title=Power_Generation
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Contact Information
Rajesh Gunnam
GlobalData
e-park, hyderabad
Hyderabad,
AP,
500050
India
91-40661-66782
rgunnam@globaldata.com
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