증기 터빈 시장 : 설계별, 최종 이용 산업별, 단조 능력별 - 세계 기회 분석 및 산업 예측(2023-2032년)

According to a new report published by Allied Market Research, titled, "Steam Turbine Market," The steam turbine market was valued at $17.5 billion in 2022, and is estimated to reach $22.4 billion by 2032, growing at a CAGR of 2.6% from 2023 to 2032.

A steam turbine is a generator that utilizes heating water to create mechanical or rotational energy. For the purpose of analysis, the global steam turbine market scope covers segmentation based on design, end-use industry, forging capacity, and region. The report outlines the details of various designs of steam turbines such as reaction turbines and impulse turbines. In addition, the applications covered in the study include power generation, petrochemical, oil & gas, and others. By forging capacity, it is divided into large forging and ultra large forging.

Moreover, it analyzes the current market trends of steam turbines across different regions such as North America, Europe, Asia-Pacific, and LAMEA and suggests future growth opportunities. Several regulations have been implemented to promote the generation of energy through renewable sources. These regulations impact the steam turbine market positively. For instance, the India National Renewable Energy Act 2015 promotes the distribution of energy from renewable energy sources to reduce the dependency on fossil fuels. After the historic UN Paris Climate Agreement-a legally binding international treaty on climate change-half of Europe's 324 coal power plants have either closed or pledged to shut down before 2030.

Furthermore, Germany will phase out coal-fired power generation by 2038; the first lignite-fired power plants were shut down in 2020, and the first tender process for closing down hard coal power plants was held. These regulations are established to ensure energy security and reduce local and global pollutants. Such regulations are anticipated to drive the demand for thermal renewables-based steam turbines. As a result, it is expected that with the growing demand for thermal renewables-based steam turbines, the global steam turbine market will witness notable growth in the coming years. Steam turbines are expensive; for instance, for a steam turbine combined heat and power (CHP) plant that burns solid biomass, the installed cost of only CHP is around $5,000/kW or higher. The installed cost for the steam turbine and electrical generator costs roughly 15-25% of the total installed cost. In addition, steam turbines are less effective than reciprocating motors at part load activity. Furthermore, steam turbines have longer startup times when compared to gas turbines and reciprocating engines. In addition, they are less responsive to changes in power demand compared with gas turbines and reciprocating engines.

Furthermore, they exhibit major energy losses such as radiative heat loss due to improper insulation, steam pressure loss at regulating valves and pipes, mechanical friction loss at bearing & other surfaces, leakage of steam, and friction losses in nozzles & blades. Thus, all these factors are expected to hamper the growth of the market, as they are limiting the use of steam turbines. The COVID-19 pandemic is predicted to possess hurdles for turbine equipment manufacturers due to disruption in supply chain and shutting down of manufacturing and energy generating facilities. Steam turbine OEMs involved in international wind turbine delivery chain hubs include China, India, and Spain. These three markets have shown poor growth in 2020. Coal is the primary source of power generation in India (~71% in March 2020). Throughout the lockdown, the coal stock has seen a visible increase. As a result, the contribution of coal in total energy generation decreased from 72.5% to 65.6%. In India, 41% of the total electricity consumption was for industrial purposes, followed by 25% for domestic and 18% for agricultural purposes.

As the lockdown has severely reduced the industrial and commercial activities in the country, these segments witnessed a considerable decline in demand for electricity. However, all activities have resumed normally and COVID cases have declined due to the vaccination drive, which led to increased operations in various industries across the globe. Moreover, the global supply chain has significantly recovered. Furthermore, the economic recovery of major countries such as India, China, the U.S., Japan, and South Korea has resulted in increased spending on steam turbines. Thus, the market has shown significant signs of recovery. Furthermore, India has taken the initiative to invest in the development of nuclear power plants by 2030 to meet the growing demand for power.

The growth drivers, restraints, and opportunities are explained in the report to better understand the market dynamics. This report further highlights the key areas of investment. In addition, it includes Porter's five forces analysis to understand the competitive scenario of the industry and the role of each stakeholder. Value chain analysis for this industry, which includes R&D, components manufacturers, assembly, programming & testing, marketing & sales, customers, and post-sales services, is explained. The report features the strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of the key players to increase their market share and sustain intense competition in the industry.

The key players in the market include General Electric (GE) Co., Turbine Generator Maintenance Inc., Toshiba Corporation, Siemens AG, Arani power systems, Elliott Group, TURBOCAM, Doosan Skoda Power, Chola Turbo Machinery International Pvt. Ltd., and Mitsubishi Power. The revenue of these companies is analyzed to obtain the total market value. The key players in the global steam turbine market are adopting different strategies, such as design launch, expansion, collaboration, agreement, and acquisition to compete against each other in the global competitive market. The data pertaining to market players and their strategic moves are gathered through their annual reports and press releases of respective companies, various blogs available on their websites, and primary calls made to experts in the industry

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the steam turbine market analysis from 2022 to 2032 to identify the prevailing steam turbine market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the steam turbine market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global steam turbine market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Design

• Reaction
• Impulse

By End-Use Industry

• Power Generation
  • Forging
  • Rolled Rings
  • Contoured Rings
  • Pot Die Forging
  • Hollows
  • Bars
  • Billets
  • Others
• Petrochemical
• Oil and Gas
• Others

By Forging Capacity

• Large Forging
• Ultra Large Forging

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia-Pacific
• LAMEA
  • Brazil
  • Saudi Arabia
  • South Africa
  • Rest of LAMEA

Key Market Players:

• Mitsubishi Power Americas, Inc.
• Toshiba Corporation
• Arani Power Systems Ltd.
• Doosan Skoda Power s.r.o.
• General Electric
• Siemens Energy AG
• Chola Turbo Machinery International Pvt. Ltd.
• Turbine Generator Maintenance Inc.
• Elliott Group
• TURBOCAM, Inc.

TABLE OF CONTENTS

CHAPTER 1: INTRODUCTION

• 1.1. Report description
• 1.2. Key market segments
• 1.3. Key benefits to the stakeholders
• 1.4. Research Methodology
  • 1.4.1. Primary research
  • 1.4.2. Secondary research
  • 1.4.3. Analyst tools and models

CHAPTER 2: EXECUTIVE SUMMARY

• 2.1. CXO Perspective

CHAPTER 3: MARKET OVERVIEW

• 3.1. Market definition and scope
• 3.2. Key findings
  • 3.2.1. Top impacting factors
  • 3.2.2. Top investment pockets
• 3.3. Porter's five forces analysis
  • 3.3.1. Bargaining power of suppliers
  • 3.3.2. Bargaining power of buyers
  • 3.3.3. Threat of substitutes
  • 3.3.4. Threat of new entrants
  • 3.3.5. Intensity of rivalry
• 3.4. Market dynamics
  • 3.4.1. Drivers
    • 3.4.1.1. Rise in demand for energy
    • 3.4.1.2. Reduction in fossil-based energy generation

• 3.4.2. Restraints
  • 3.4.2.1. Higher efficiency of other turbines

• 3.4.3. Opportunities
  • 3.4.3.1. Advancements promoting the use of steam turbine

• 3.5. COVID-19 Impact Analysis on the market
• 3.6. Patent Landscape
• 3.7. Pricing Analysis
• 3.8. Value Chain Analysis

CHAPTER 4: STEAM TURBINE MARKET, BY DESIGN

• 4.1. Overview
  • 4.1.1. Market size and forecast
• 4.2. Reaction
  • 4.2.1. Key market trends, growth factors and opportunities
  • 4.2.2. Market size and forecast, by region
  • 4.2.3. Market share analysis by country
• 4.3. Impulse
  • 4.3.1. Key market trends, growth factors and opportunities
  • 4.3.2. Market size and forecast, by region
  • 4.3.3. Market share analysis by country

CHAPTER 5: STEAM TURBINE MARKET, BY END-USE INDUSTRY

• 5.1. Overview
  • 5.1.1. Market size and forecast
• 5.2. Power Generation
  • 5.2.1. Key market trends, growth factors and opportunities
  • 5.2.2. Market size and forecast, by region
  • 5.2.3. Market share analysis by country
  • 5.2.4. Power Generation Steam Turbine Market by Forging
    • 5.2.4.1. Rolled Rings Market size and forecast, by region
    • 5.2.4.2. Rolled Rings Market size and forecast, by country
    • 5.2.4.3. Contoured Rings Market size and forecast, by region
    • 5.2.4.4. Contoured Rings Market size and forecast, by country
    • 5.2.4.5. Pot Die Forging Market size and forecast, by region
    • 5.2.4.6. Pot Die Forging Market size and forecast, by country
    • 5.2.4.7. Hollows Market size and forecast, by region
    • 5.2.4.8. Hollows Market size and forecast, by country
    • 5.2.4.9. Bars Market size and forecast, by region
    • 5.2.4.10. Bars Market size and forecast, by country
    • 5.2.4.11. Billets Market size and forecast, by region
    • 5.2.4.12. Billets Market size and forecast, by country
    • 5.2.4.13. Others Market size and forecast, by region
    • 5.2.4.14. Others Market size and forecast, by country
• 5.3. Petrochemical
  • 5.3.1. Key market trends, growth factors and opportunities
  • 5.3.2. Market size and forecast, by region
  • 5.3.3. Market share analysis by country
• 5.4. Oil and Gas
  • 5.4.1. Key market trends, growth factors and opportunities
  • 5.4.2. Market size and forecast, by region
  • 5.4.3. Market share analysis by country
• 5.5. Others
  • 5.5.1. Key market trends, growth factors and opportunities
  • 5.5.2. Market size and forecast, by region
  • 5.5.3. Market share analysis by country

CHAPTER 6: STEAM TURBINE MARKET, BY FORGING CAPACITY

• 6.1. Overview
  • 6.1.1. Market size and forecast
• 6.2. Large Forging
  • 6.2.1. Key market trends, growth factors and opportunities
  • 6.2.2. Market size and forecast, by region
  • 6.2.3. Market share analysis by country
• 6.3. Ultra Large Forging
  • 6.3.1. Key market trends, growth factors and opportunities
  • 6.3.2. Market size and forecast, by region
  • 6.3.3. Market share analysis by country

CHAPTER 7: STEAM TURBINE MARKET, BY REGION

• 7.1. Overview
  • 7.1.1. Market size and forecast By Region
• 7.2. North America
  • 7.2.1. Key trends and opportunities
  • 7.2.2. Market size and forecast, by Design
  • 7.2.3. Market size and forecast, by End-Use Industry
    • 7.2.3.1. North America Power Generation Steam Turbine Market by Forging
  • 7.2.4. Market size and forecast, by Forging Capacity
  • 7.2.5. Market size and forecast, by country
    • 7.2.5.1. U.S.
    • 7.2.5.1.1. Key market trends, growth factors and opportunities
    • 7.2.5.1.2. Market size and forecast, by Design
    • 7.2.5.1.3. Market size and forecast, by End-Use Industry
    • 7.2.5.1.3.1. U.S. Power Generation Steam Turbine Market by Forging
    • 7.2.5.1.4. Market size and forecast, by Forging Capacity
    • 7.2.5.2. Canada
    • 7.2.5.2.1. Key market trends, growth factors and opportunities
    • 7.2.5.2.2. Market size and forecast, by Design
    • 7.2.5.2.3. Market size and forecast, by End-Use Industry
    • 7.2.5.2.3.1. Canada Power Generation Steam Turbine Market by Forging
    • 7.2.5.2.4. Market size and forecast, by Forging Capacity
    • 7.2.5.3. Mexico
    • 7.2.5.3.1. Key market trends, growth factors and opportunities
    • 7.2.5.3.2. Market size and forecast, by Design
    • 7.2.5.3.3. Market size and forecast, by End-Use Industry
    • 7.2.5.3.3.1. Mexico Power Generation Steam Turbine Market by Forging
    • 7.2.5.3.4. Market size and forecast, by Forging Capacity
• 7.3. Europe
  • 7.3.1. Key trends and opportunities
  • 7.3.2. Market size and forecast, by Design
  • 7.3.3. Market size and forecast, by End-Use Industry
    • 7.3.3.1. Europe Power Generation Steam Turbine Market by Forging
  • 7.3.4. Market size and forecast, by Forging Capacity
  • 7.3.5. Market size and forecast, by country
    • 7.3.5.1. Germany
    • 7.3.5.1.1. Key market trends, growth factors and opportunities
    • 7.3.5.1.2. Market size and forecast, by Design
    • 7.3.5.1.3. Market size and forecast, by End-Use Industry
    • 7.3.5.1.3.1. Germany Power Generation Steam Turbine Market by Forging
    • 7.3.5.1.4. Market size and forecast, by Forging Capacity
    • 7.3.5.2. France
    • 7.3.5.2.1. Key market trends, growth factors and opportunities
    • 7.3.5.2.2. Market size and forecast, by Design
    • 7.3.5.2.3. Market size and forecast, by End-Use Industry
    • 7.3.5.2.3.1. France Power Generation Steam Turbine Market by Forging
    • 7.3.5.2.4. Market size and forecast, by Forging Capacity
    • 7.3.5.3. UK
    • 7.3.5.3.1. Key market trends, growth factors and opportunities
    • 7.3.5.3.2. Market size and forecast, by Design
    • 7.3.5.3.3. Market size and forecast, by End-Use Industry
    • 7.3.5.3.3.1. UK Power Generation Steam Turbine Market by Forging
    • 7.3.5.3.4. Market size and forecast, by Forging Capacity
    • 7.3.5.4. Italy
    • 7.3.5.4.1. Key market trends, growth factors and opportunities
    • 7.3.5.4.2. Market size and forecast, by Design
    • 7.3.5.4.3. Market size and forecast, by End-Use Industry
    • 7.3.5.4.3.1. Italy Power Generation Steam Turbine Market by Forging
    • 7.3.5.4.4. Market size and forecast, by Forging Capacity
    • 7.3.5.5. Spain
    • 7.3.5.5.1. Key market trends, growth factors and opportunities
    • 7.3.5.5.2. Market size and forecast, by Design
    • 7.3.5.5.3. Market size and forecast, by End-Use Industry
    • 7.3.5.5.3.1. Spain Power Generation Steam Turbine Market by Forging
    • 7.3.5.5.4. Market size and forecast, by Forging Capacity
    • 7.3.5.6. Rest of Europe
    • 7.3.5.6.1. Key market trends, growth factors and opportunities
    • 7.3.5.6.2. Market size and forecast, by Design
    • 7.3.5.6.3. Market size and forecast, by End-Use Industry
    • 7.3.5.6.3.1. Rest of Europe Power Generation Steam Turbine Market by Forging
    • 7.3.5.6.4. Market size and forecast, by Forging Capacity
• 7.4. Asia-Pacific
  • 7.4.1. Key trends and opportunities
  • 7.4.2. Market size and forecast, by Design
  • 7.4.3. Market size and forecast, by End-Use Industry
    • 7.4.3.1. Asia-Pacific Power Generation Steam Turbine Market by Forging
  • 7.4.4. Market size and forecast, by Forging Capacity
  • 7.4.5. Market size and forecast, by country
    • 7.4.5.1. China
    • 7.4.5.1.1. Key market trends, growth factors and opportunities
    • 7.4.5.1.2. Market size and forecast, by Design
    • 7.4.5.1.3. Market size and forecast, by End-Use Industry
    • 7.4.5.1.3.1. China Power Generation Steam Turbine Market by Forging
    • 7.4.5.1.4. Market size and forecast, by Forging Capacity
    • 7.4.5.2. Japan
    • 7.4.5.2.1. Key market trends, growth factors and opportunities
    • 7.4.5.2.2. Market size and forecast, by Design
    • 7.4.5.2.3. Market size and forecast, by End-Use Industry
    • 7.4.5.2.3.1. Japan Power Generation Steam Turbine Market by Forging
    • 7.4.5.2.4. Market size and forecast, by Forging Capacity
    • 7.4.5.3. India
    • 7.4.5.3.1. Key market trends, growth factors and opportunities
    • 7.4.5.3.2. Market size and forecast, by Design
    • 7.4.5.3.3. Market size and forecast, by End-Use Industry
    • 7.4.5.3.3.1. India Power Generation Steam Turbine Market by Forging
    • 7.4.5.3.4. Market size and forecast, by Forging Capacity
    • 7.4.5.4. South Korea
    • 7.4.5.4.1. Key market trends, growth factors and opportunities
    • 7.4.5.4.2. Market size and forecast, by Design
    • 7.4.5.4.3. Market size and forecast, by End-Use Industry
    • 7.4.5.4.3.1. South Korea Power Generation Steam Turbine Market by Forging
    • 7.4.5.4.4. Market size and forecast, by Forging Capacity
    • 7.4.5.5. Australia
    • 7.4.5.5.1. Key market trends, growth factors and opportunities
    • 7.4.5.5.2. Market size and forecast, by Design
    • 7.4.5.5.3. Market size and forecast, by End-Use Industry
    • 7.4.5.5.3.1. Australia Power Generation Steam Turbine Market by Forging
    • 7.4.5.5.4. Market size and forecast, by Forging Capacity
    • 7.4.5.6. Rest of Asia-Pacific
    • 7.4.5.6.1. Key market trends, growth factors and opportunities
    • 7.4.5.6.2. Market size and forecast, by Design
    • 7.4.5.6.3. Market size and forecast, by End-Use Industry
    • 7.4.5.6.3.1. Rest of Asia-Pacific Power Generation Steam Turbine Market by Forging
    • 7.4.5.6.4. Market size and forecast, by Forging Capacity
• 7.5. LAMEA
  • 7.5.1. Key trends and opportunities
  • 7.5.2. Market size and forecast, by Design
  • 7.5.3. Market size and forecast, by End-Use Industry
    • 7.5.3.1. LAMEA Power Generation Steam Turbine Market by Forging
  • 7.5.4. Market size and forecast, by Forging Capacity
  • 7.5.5. Market size and forecast, by country
    • 7.5.5.1. Brazil
    • 7.5.5.1.1. Key market trends, growth factors and opportunities
    • 7.5.5.1.2. Market size and forecast, by Design
    • 7.5.5.1.3. Market size and forecast, by End-Use Industry
    • 7.5.5.1.3.1. Brazil Power Generation Steam Turbine Market by Forging
    • 7.5.5.1.4. Market size and forecast, by Forging Capacity
    • 7.5.5.2. Saudi Arabia
    • 7.5.5.2.1. Key market trends, growth factors and opportunities
    • 7.5.5.2.2. Market size and forecast, by Design
    • 7.5.5.2.3. Market size and forecast, by End-Use Industry
    • 7.5.5.2.3.1. Saudi Arabia Power Generation Steam Turbine Market by Forging
    • 7.5.5.2.4. Market size and forecast, by Forging Capacity
    • 7.5.5.3. South Africa
    • 7.5.5.3.1. Key market trends, growth factors and opportunities
    • 7.5.5.3.2. Market size and forecast, by Design
    • 7.5.5.3.3. Market size and forecast, by End-Use Industry
    • 7.5.5.3.3.1. South Africa Power Generation Steam Turbine Market by Forging
    • 7.5.5.3.4. Market size and forecast, by Forging Capacity
    • 7.5.5.4. Rest of LAMEA
    • 7.5.5.4.1. Key market trends, growth factors and opportunities
    • 7.5.5.4.2. Market size and forecast, by Design
    • 7.5.5.4.3. Market size and forecast, by End-Use Industry
    • 7.5.5.4.3.1. Rest of LAMEA Power Generation Steam Turbine Market by Forging
    • 7.5.5.4.4. Market size and forecast, by Forging Capacity

CHAPTER 8: COMPETITIVE LANDSCAPE

• 8.1. Introduction
• 8.2. Top winning strategies
• 8.3. Product Mapping of Top 10 Player
• 8.4. Competitive Dashboard
• 8.5. Competitive Heatmap
• 8.6. Top player positioning, 2022

CHAPTER 9: COMPANY PROFILES

• 9.1. General Electric
  • 9.1.1. Company overview
  • 9.1.2. Key Executives
  • 9.1.3. Company snapshot
  • 9.1.4. Operating business segments
  • 9.1.5. Product portfolio
  • 9.1.6. Business performance
• 9.2. Turbine Generator Maintenance Inc.
  • 9.2.1. Company overview
  • 9.2.2. Key Executives
  • 9.2.3. Company snapshot
  • 9.2.4. Operating business segments
  • 9.2.5. Product portfolio
• 9.3. Toshiba Corporation
  • 9.3.1. Company overview
  • 9.3.2. Key Executives
  • 9.3.3. Company snapshot
  • 9.3.4. Operating business segments
  • 9.3.5. Product portfolio
  • 9.3.6. Business performance
  • 9.3.7. Key strategic moves and developments
• 9.4. Arani Power Systems Ltd.
  • 9.4.1. Company overview
  • 9.4.2. Key Executives
  • 9.4.3. Company snapshot
  • 9.4.4. Operating business segments
  • 9.4.5. Product portfolio
• 9.5. Elliott Group
  • 9.5.1. Company overview
  • 9.5.2. Key Executives
  • 9.5.3. Company snapshot
  • 9.5.4. Operating business segments
  • 9.5.5. Product portfolio
  • 9.5.6. Key strategic moves and developments
• 9.6. TURBOCAM, Inc.
  • 9.6.1. Company overview
  • 9.6.2. Key Executives
  • 9.6.3. Company snapshot
  • 9.6.4. Operating business segments
  • 9.6.5. Product portfolio
• 9.7. Doosan Skoda Power s.r.o.
  • 9.7.1. Company overview
  • 9.7.2. Key Executives
  • 9.7.3. Company snapshot
  • 9.7.4. Operating business segments
  • 9.7.5. Product portfolio
  • 9.7.6. Key strategic moves and developments
• 9.8. Chola Turbo Machinery International Pvt. Ltd.
  • 9.8.1. Company overview
  • 9.8.2. Key Executives
  • 9.8.3. Company snapshot
  • 9.8.4. Operating business segments
  • 9.8.5. Product portfolio
• 9.9. Mitsubishi Power Americas, Inc.
  • 9.9.1. Company overview
  • 9.9.2. Key Executives
  • 9.9.3. Company snapshot
  • 9.9.4. Operating business segments
  • 9.9.5. Product portfolio
• 9.10. Siemens Energy AG
  • 9.10.1. Company overview
  • 9.10.2. Key Executives
  • 9.10.3. Company snapshot
  • 9.10.4. Operating business segments
  • 9.10.5. Product portfolio
  • 9.10.6. Business performance