Irving, Texas (PRWEB) February 06, 2013
The global steam turbine market stands on the threshold of strong growth. In 2011, the market topped $12.1 billion, growing at a Compounded Annual Growth Rate (CAGR) of 2.4%. The Asia Pacific (APAC) region captured the largest market share with approximately $9.3 billion, representing 77% of the market. According to market forecasts, the global steam turbine market is poised for growth at 3% CAGR over the next five years (2012-2017) to reach approximately $15.3 billion in 2017.
Lucintel, a leading global management consulting and market research firm, has conducted a competitive analysis on this market and presents its findings in “Growth Opportunities in Global Steam Turbine Market in Power Generation 2012-2017: Trend, Forecast, and Opportunity Analysis.” This study provides a concise overview of the global steam turbine market in terms of value and annual installations. The steam turbine market is segmented by region, generation plant fuel, and turbine size.
Lucintel discusses the challenges and opportunities faced by the global steam turbine market. The steam turbine market is affected by renewable sources of energy such as wind and solar power. The prices of other sources of energy such as natural gas are another factor affecting this market. The demand for steam turbines, however, will remain solid with emerging, large economies, such as India and China, generating high demand.
Lucintel's study encompasses the market’s major drivers. APAC accounts for the largest market share of steam turbines. North America and Europe represent larger markets than the Rest of the World market.
This energy market research report highlights the aspects of the global steam turbine market. Due diligence has been given to the current market scenario, as well as the technological and financial benefits of installing steam turbines in power generation plants globally. China has emerged as the leading player in the manufacturing and installation of steam turbines.
For a detailed table of contents and pricing information on this timely, insightful report, contact Lucintel at +1-972-636-5056 or via email at helpdesk (at) lucintel (dot) com. Lucintel provides cutting-edge decision support services that facilitate critical decisions with greater speed, insight, market entry strategy and cost efficiency. To learn more, visit http://www.lucintel.com.
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