North America Steam Turbine Market Size, Growth Analysis | Trends, Drivers and Forecasts for 2020-2025
Category: #energy-and-environment  By Ronak Bora  Date: 2021-05-28
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North America Steam Turbine Market Size, Growth Analysis | Trends, Drivers and Forecasts for 2020-2025

The North America steam turbine market size is forecast to witness a considerable gain by 2026. Concerted efforts from stakeholders, including governments to reduce carbon footprint are likely to boost North America steam turbine market value. An influx of funds across the renewable sector and generous governments’ initiatives to boost low emission fuels have stimulated growth in sustainability energy.

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Robust initiatives to balance the electricity demand-supply mismatch and expanding footfall of industrial infrastructure will remain instrumental in fostering the adoption of steam turbines. More importantly, the innate ability to function on atmospheric pressure, higher efficiency and easy assembly will boost the dynamics of the turbines.

Some of the most pressing trends which will potentially help stakeholders up their strategies are highlighted below:

Condensing steam turbines to gain impetus

Trend for condensing steam turbines will continue to pick momentum as demand for generating electricity in large volumes and the flexibility to regulate the power output have surged drastically. In the wake of burgeoning industrial activities, an uptick in electricity demand has solidified the position of condensing steam turbines.

Non-condensing steam turbines will grow steadily on account of ability to function in hostile climatic conditions and ease of installation. Not to mention, product demand is poised to spike up from processing industries.

Footfall of reaction turbines to become notable

Soaring investments in utility sector and the higher power generation capacity have prompted several stakeholders to up their investments in reaction turbines. Besides, provision of high steam velocity, minimal material requirement and high efficiency have fueled the dynamics of the turbines.

With the demand for the turbines that can operate on atmospheric pressure rising, impulse steam turbines are likely to be highly sought-after. In addition, factors such as high efficiency and easy assembly have gained traction on the back of reduced operating cost and low maintenance.

Growth opportunities to prevail in >100 MW steam turbines

Considering the bullish outlook towards the adoption of super and ultra-super critical steam generation technologies, application of >100 MW capacity steam turbines will grow noticeably in the next five years. In essence, portfolio expansion of power generation capacity and demand for captive power systems are likely to accentuate growth in the industry. Increased investments from watchdogs, including World Bank are highly likely to paint a robust picture of >100 MW steam turbines.

3-100 MW steam turbines to witness increased adoption

As the market penetration of cogeneration technologies becomes more palpable than ever before, medium-scale industries have exhibit keen interest in 3-100 MW steam turbines. Favorable governments’ initiatives and bullish economic outlook have fared well for the deployment of 3-100 MW capacity steam turbines.

U.S. and Canada come up as lucrative hubs

Notable deployment of combined cycle technologies in a slew of captive power generating stations has made the U.S. a revenue-boosting market for steam turbine companies. It is pertinent to note that the mega-trend for cogeneration technologies has further added value to the technology demand in the region.

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Leading companies are slated to inject funds in Canada steam turbine market as the region witnesses environmental policies meant to bolster sustainable energy and clean energy systems. That said, impact of the COVID-19 fallout may be observed in the industry given the halt in daily operations.

Rigorous norms and regulations to curb emissions will be a go-to-factor fueling the North America steam turbines market outlook. Traction for condensing steam turbines and reaction turbines are likely to be the major drivers fostering growth in the landscape.

Table of Contents (ToC) of the report:

Chapter 1.       Methodology and Scope

1.1.           Methodology

1.2.           Steam Turbine Market definitions

1.3.           Market estimates and forecast parameters

1.4.           Data sources

1.4.1.        Primary

1.4.2.        Secondary

1.4.2.1.           Paid sources

1.4.2.2.           Public sources

Chapter 2.       Executive Summary

2.1.           North America Steam turbine market 360o synopsis, 2015 – 2026

Chapter 3.       North America Steam Turbine Market Insights

3.1.           Industry segmentation

3.2.           Industry landscape, 2015 – 2026

3.3.           Industry ecosystem analysis

3.3.1.        Vendor matrix

3.4.           Innovation & sustainability

3.5.           Regulatory landscape

3.6.           Price trend

3.7.           Industry impact forces

3.7.1.        Steam Turbine Market Growth drivers

3.7.2.        Industry pitfalls & challenges

3.8.           Growth potential analysis

3.9.           Porter's analysis

3.10.         Competitive landscape, 2019

3.10.1.      Strategy dashboard

3.11.         PESTEL analysis

Browse complete Table of Contents (ToC) of this research report @ https://www.graphicalresearch.com/table-of-content/1337/north-america-steam-turbine-market

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About Author

Ronak Bora

Ronak Bora    

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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