Growing Need for Power Generation Worldwide to Bolster Global Turbine Market

Market Research Hub

Albany, New York, August 26, 2016: A new market research report has been added by Market Research Hub (MRH) to its comprehensive collection of research studies. The 270-page research report, titled “Global Turbine Market to 2020 – Market Size, Growth, and Forecasts in Over 50 Countries,” provides a detailed analysis, emphasizing on the market dynamics that are estimated to determine the growth of the market in the coming few years. The growth drivers, opportunities, and challenges of the global turbine market have been discussed in the research report to give a clear understanding to the readers.

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The increasing need for power generation, especially in emerging countries, and the reduced risk of technological failure are some of the prime factors estimated to augment the growth of the global turbine market in the next few years. In addition, the rising production of essential components of turbines from alternative materials in order to save costs has created several opportunities for the leading players in the market. However, the climate-dependence of the turbine systems and high initial costs are projected to impede the growth of the global turbine market in the near future.

The research study has classified the global turbine market on the basis of type into vapour and steam turbines, gas turbine engines, and water wheels and hydraulic turbines. The expected growth rate of each segment has been provided in the study, along with the demand, consumption, and supply figures of turbines to give a clear image of the overall market. This is estimated to help the leading players in comparing the different product segments in order to determine the new opportunities and make more effective business policies in the next few years.

Furthermore, the research study presents the market size and forecast of the turbine market at a global level. Some of the countries included in the research study are the United Kingdom, India, Finland, Thailand, Japan, Norway, Mexico, Greece, Singapore, Egypt, Peru, Spain, Georgia, Poland, Portugal, France, China, the U.S., Pakistan, Italy, Ecuador, Sweden, Turkey, and Canada. The rules and regulations concerning the turbine market in each country have also been mentioned in the study.

The research study further analyzes the competitive landscape of the global turbine market and highlights the key growth opportunities. As per the research study, several companies are expected to show substantial interest in adopting renewable energy technologies and diversifying their energy portfolio in the next few years. This trend is expected to contribute extensively towards the development of the global turbine market in the next few years. Moreover, governments of several countries are estimated to take measures to upgrade their power generation capacities so as to cater to the rising demand from households and diverse industries.

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The leading players in the global turbine market include Alterra Power Corporation, CYRQ Energy, Inc., Enel Green Power, Siemens Wind Power, Sumitomo Corporation, Voith GMBH, Mannvit, Ormat Technologies, Inc., Nordex SE, Vestas, Enercon GMBH, Ram Power Corporation, Sinovel Wind Group Co. Ltd., Mitsubishi Heavy Industries Ltd., and U.S. Geothermal, Inc.

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