Turbines are
machines that are used for extracting energy from several types of
flows such as gas, steam, water, and wind, and converting it into
usable forms of energy such as electricity. Some of the common types
of turbines are windmills and waterwheels used for generating energy.
Turbines are installed at several places to harness wind and tidal
energy to generate electricity. In recent times, offshore windmill
installation is observed to be a growing trend due to the consistent
wind supply at several locations.
The types of
turbines sold in the global turbines
market are hydropower turbines, steam turbines, gas-based
turbines, wind turbines, and nuclear turbines. The end users of these
turbines are power generation companies, power storage units, the
marine industry, and the aeronautics industry. Geographically, this
market is segmented into North America, Asia Pacific, Europe, and
Rest of the World. Some of the top players operating in the global
turbines market are Alstom S.A., Siemens Energy, General Electric
Energy, Vestas Wind Systems A/S, Ballard Power Systems Inc., Ltd..,
Goldwind Science & Technology Co., Ltd., and Sinovel Wind Group
Co.
Siemens Agrees
Deal with Mapna to Deliver 20 Gas Turbines
Reuters recently
reported that Siemens signed an agreement with Mapna, an Iranian
power and infrastructure group, to work on rail infrastructure in
Iran. Under this agreement, Mapna will bring the technology of
manufacturing Siemens F-class gas turbines to Iran. Furthermore, the
collaboration will work towards delivering over 20 gas turbines and
related generators in the coming decade. Such efforts by top players
in the global turbines market are expected to propel the market as
well as change the perspective on the energy solutions sought by
nations across the world.
Global Turbines
Market to Reach US$191.9 bn by 2020
According to a
research report published by Transparency Market Research, the global
turbine market was valued at US$135.7 bn in 2013. Analysts predict
that this market will rise at a CAGR of 4.89% from 2014 to 2020 to
reach US$191.9 bn by 2020. This growth will be attributable to the
consistent power shortages and the mounting pressure on governments
across the world to cater to the growing demand for energy from
households and industries.
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Growing Demand
for Energy in Asia Pacific to Fuel Turbines Market
The global turbines
market will also be fueled by new power plants being commissioned
with steam and gas turbines. Furthermore, the flourishing renewable
energy sector, as nations realize the urgency of diversifying energy
portfolios and adopt renewable energy technologies, is also giving a
push to the global turbines market. The global turbines market will
also be fueled by the growing Asia Pacific market, which is being led
by the emerging economies of China and India. In the coming years,
the shifting perspective towards energy mixes and renewable energy
solutions will define the pace of the global turbines market and its
future in the larger scheme of things.
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Us
Transparency
Market Research (TMR) is a global market intelligence company
providing business information reports and services. The company’s
exclusive blend of quantitative forecasting and trend 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.
TMR’s
data repository is continuously updated and revised by a team of
research experts so that it always reflects the latest trends and
information. With extensive research and analysis capabilities,
Transparency Market Research employs rigorous primary and secondary
research techniques to develop distinctive data sets and research
material for business reports.
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