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Turbines Market to Expand at 4.89% CAGR due to Surging Demand for Power

Transparency Market Research has published a new report, titled “Turbines Market - Global Industry Analysis, Market Size, Share, Growth, Trends and Forecast 2014 - 2020"
Published 14 September 2015

A recently released report from Transparency Market Research (TMR) forecasts that the global turbines market will grow at a CAGR of 4.89% between 2014 and 2020. TMR, a market intelligence firm, states that by 2020, the global turbines market will reach US$191.87 billion from US$135.68 billion in 2013. The report, titled ‘Turbines Market - Global Industry Analysis, Market Size, Share, Growth, Trends and Forecast 2014 - 2020’, is available for sale on the company website. 

According to this research report, the global turbines market is driven by the growing need for power all across the globe. The widespread adoption of renewable energy for capacity expansion in the area of wind energy is also a major factor that stimulates the global demand for turbines. A turbine is a device that is built for efficient generation of power via a viable source, which includes conventional as well as non-conventional sources. The turbine blades can be driven by feed materials such as wind and water. Commonly used sources are fossil sources, such as natural gas and coal, whereas renewable sources such as water and wind are gaining popularity, as there is a shift of focus of the industrial sector towards environmental sustainability.

This TMR report segments the global turbines market on the basis of product type, end users, and geography. On the basis of product type, this market is segmented into hydropower turbines, steam turbines, gas-based turbines, wind turbines, and nuclear turbines. With numerous oilfield and infrastructure development projects in the pipeline, the global market for steam turbines is anticipated to expand robustly throughout the forecast period. The end users in the global turbines market are power generation, power storage, the marine industry, and the aeronautics industry.

Geographically, the report segments the global turbines market into Asia Pacific, North America, Europe, and Rest of the World. In 2013, in terms of installed turbine capacity, Asia Pacific held a market share exceeding 40%. With rapid growth of the hydrocarbons sector, coupled with upcoming mega power projects, the demand for turbines will increase robustly during the forecast period. There is also substantial increase in the overall demand for heat and power all over the world because of the growing global population. This, too, acts a key demand driver for the global turbines market. However, the glaring restraints on the global turbines market are the project site issues that emerge because of the low tolerance for noise along with the emission impact of turbines. 

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The prominent companies in the global turbines market are Energy Development Corporation, Mitsubishi Heavy Industries Ltd., Mannvit, Sumitomo Corporation, Contact Energy, U.S. Geothermal Inc., Ram Power Corporation, Alterra Power Corporation, Calpine Corporation, and Enel Green Power, amongst others.  

Browse the full Turbines Market by Product (Hydro, Steam, Gas-based, Wind and Nuclear) for Applications (Power Generation, Power Storage, Marine and Aeronautics) - Global Industry Analysis, Market Size, Share, Growth, Trends and Forecast, 2014 – 2020 report at turbines-market.html

The global turbines market has been segmented as below:

  • Global Turbines Market: Product Type Analysis

    • Hydropower
    • Steam
    • Gas-based
    • Wind
    • Nuclear
  • Global Turbines Market: End User Industry Analysis

    • Power Generation
    • Power Storage
    • Marine
    • Aeronautics
  • Global Turbines Market: Regional Analysis

    • North America
    • Europe
    • Asia Pacific
    • Rest of the World (RoW)

About Us

Transparency Market Research (TMR) is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather and analyze information. 

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.


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