Steam Turbine Market In 2022 : Increasing Demand In Industrial, Marine, Power Generation Driving the growth of Industry

Steam Turbine Market Insights 2022 : Steam Turbine is a device that extracts thermal energy from pressurized steam and uses it to do mechanical work on a rotating output shaft.

This report focuses on the Steam Turbine in global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application.As for the North America steam turbine industry, the industry structure is relatively concentrated. The top three manufacturers have 75.07% revenue market share in 2015. The USA giant GE, which has 36.17% market share in 2015, is the leader in the North America steam turbine industry. The manufacturers following GE are Siemens and Elliott, which respectively has 34.57% and 8.24% market share in North America region.The downstream industries of steam turbine products are industrial, power generation and marine. In the recent years, with the recovery of United States economic, the development of emerging country, such as Mexico, and the construction of factory, the consumption increase of steam turbine will be obvious. In the foreseeable future, the steam turbine products will show an optimistic upward trend.Although sales of steam turbine products bring a lot of opportunities, the study group recommends the new entrants who just have money but without technical advantage, raw materials advantage and downstream support, do not enter into the steam turbine field hastily.The worldwide market for Steam Turbine is expected to grow at a CAGR of roughly xx% over the next five years, will reach xx million US$ in 2023, from xx million US$ in 2017, according to a new GIR (Global Info Research) study.

Leading Key Players In the global Steam Turbine market 2022:

  • GE
  • Siemens
  • Elliott
  • Toshiba
  • Mitsubishi Hitachi Power Systems
  • MAN

    Based on product, the Steam Turbine market is segmented into Rated Power (200MW) and other. The Steam Turbine products segment dominated the Steam Turbine market in 2022. Rising incidences and new product launches expected to drive the segment growth.

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