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Published Date: 2015-04-01Number of Pages: 140

Turbines Market by Product (Hydro, Steam, Gas-based, Wind and Nuclear) for Applications (Power Generation, Power Storage, Marine and Aeronautics) - Global Industry Analysis, Market Size, Share, Growth, Trends and Forecast 2014 - 2020

This report is an attempt by Transparency Market Research to identify the potentials and growth of turbines market globally. The market segmentation for turbines, as provided in the report include: application, product type and geography. The current and forecast analysis for all these segments has been provided in terms of installed volume (gigawatts: GW) and revenue (USD Billion), considering 2013 as the base year. The forecast period for turbine market covered in this report lies from 2014 to 2020. The report envisages potential turbine market, attractiveness and trend based on forecast model and in-depth primary interviews with the key power producing and supplying professionals and scientists along with the portfolio analysis of the turbine companies. All factors such as end user industry demographics need and preference of turbines are analyzed. The report primarily focuses on the need of the client and therefore, has covered all feasible parameters and has provided quantifiable data.

 

This report is intended to provide turbine market overview and is categorized accordingly. The various segments of turbine market included in this report are accumulated and analyzed by the tracking of recent trends and growth in the turbine industry. The in-depth analysis provided in the report is based on both commercial and project aspects by Transparency Market Research. The major economies covered in this report are North America, Europe, Asia Pacific, and Rest of the World (RoW).

 

The report also includes Porter’s five forces model, and the market attractiveness and DROs (Drivers, Restraints and Opportunities) for turbine market. Some of the key players of the turbine market included in this report are: Alstom S.A., General Electric Energy, Siemens Energy, Ballard Power Systems Inc., Vestas Wind Systems A/S, Sinovel Wind Group Co., Ltd., Goldwind Science & Technology Co., Ltd. The report provides an overview of the above mentioned companies followed by their financial overview, product portfolio, business strategies and recent developments. The report also provides an overview of current policies; standards and certification programs associated with the turbine industry along with the recommendations for stakeholders to ensure sustainable and profitable turbine market growth.

 

The uniqueness of report lies in the overall industrial description of turbine market which is presently at a developed stage. This market is mainly segmented into three essential segments and includes the application of turbines across varied industries; the specific turbine product type and the geographies using turbines. The in-depth analysis provided in this report covers all the aspects of the turbine value chain. The report analyzes the importance of every stage and gives the logical and quantifiable data for the stages included in the value chain.

 

The global turbines market has been segmented as below:

  • Global Turbines Market: Product Type Analysis

    • Hydropower
    • Steam
    • Gas-based
    • Wind
    • Nuclear
  • Global Turbines Market: End User Industry Analysis

    • Power Generation
    • Power Storage
    • Marine
    • Aeronautics
  • Global Turbines Market: Regional Analysis

    • North America
    • Europe
    • Asia Pacific
    • Rest of the World (RoW)

 

CHAPTER 1 PREFACE

1.1 REPORT DESCRIPTION

1.2 RESEARCH SCOPE

1.3 MARKET SEGMENTATION

1.4 RESEARCH METHODOLOGY

 

CHAPTER 2 EXECUTIVE SUMMARY

 

CHAPTER 3 TURBINES MARKET – INDUSTRY ANALYSIS

3.1 INTRODUCTION

3.2 VALUE CHAIN ANALYSIS

3.3 MARKET DRIVERS

      3.3.1 GROWING NEED FOR POWER GENERATION, PRIMARILY IN DEVELOPING ECONOMIES

      3.3.2 AGGRESSIVE RENEWABLE ENERGY CAPACITY ADDITION TARGETS FOR WIND ENERGY ESTABLISHED THROUGH LEGISLATIONS

      3.3.3 LOW RISK OF TECHNOLOGY FAILURE REINSTATING INVESTOR CONFIDENCE

3.4 MARKET RESTRAINTS

      3.4.1 LOW TOLERANCE FOR NOISE COUPLED WITH EMISSION IMPACT OF TURBINES, RESULTING IN PROJECT SITE ISSUES

      3.4.2 HIGH INITIAL COST AND CLIMATE-DEPENDENT SYSTEMS

3.5 MARKET OPPORTUNITIES

      3.5.1 MANUFACTURING OF VITAL COMPONENTS FOR TURBINE TECHNOLOGY USING ALTERNATIVE MATERIALS TO DERIVE COST SAVING

      3.5.2 PROSPECTS OF STRATEGIC ALLIANCE, MERGERS, AND ACQUISITIONS IN MARKET

3.6 PORTER’S FIVE FORCES ANALYSIS

      3.6.1 BARGAINING POWER OF SUPPLIERS

      3.6.2 BARGAINING POWER OF BUYERS

      3.6.3 THREAT FROM SUBSTITUTES

      3.6.4 THREAT OF NEW ENTRANTS

      3.6.5 DEGREE OF COMPETITION

3.7 POWER GENERATION: PLANT COST ANALYSIS

      3.7.1 GLOBAL POWER PLANT COST BREAKDOWN AND FORECAST, BY COST TYPE, 2013 – 2020 (MILLION USD/MW)

              3.7.1.1 Civil Works

              3.7.1.2 Grid Connections

              3.7.1.3 Generator Cost Analysis

              3.7.1.4 Power Converter Cost Analysis

              3.7.1.5 Transformers Cost Analysis

3.8 MARKET ATTRACTIVENESS ANALYSIS FOR GLOBAL TURBINES MARKET, BY REVENUE, 2013

 

CHAPTER 4 GLOBAL TURBINES MARKET: END-USER INDUSTRY ANALYSIS

4.1 GLOBAL TURBINES MARKET: END-USER INDUSTRY OVERVIEW

      4.1.1 GLOBAL TURBINES MARKET VOLUME SHARE, BY END-USER INDUSTRY, 2013 AND 2020

      4.1.2 GLOBAL TURBINES MARKET REVENUE SHARE, BY END-USER INDUSTRY, 2013 AND 2020

4.2 POWER GENERATION INDUSTRY TURBINES MARKET, BY VOLUME AND REVENUE, 2013 – 2020 (GW) (USD BILLION)

4.3 POWER STORAGE INDUSTRY TURBINES MARKET, BY VOLUME AND REVENUE, 2013 – 2020 (GW) (USD BILLION)

4.4 MARINE INDUSTRY TURBINES MARKET, BY VOLUME AND REVENUE, 2013 – 2020 (GW) (USD BILLION)

4.5 AERONAUTICS INDUSTRY TURBINES MARKET, BY VOLUME AND REVENUE, 2013 – 2020 (GW) (USD BILLION)

 

CHAPTER 5 GLOBAL TURBINES MARKET: PRODUCT SEGMENT ANALYSIS

5.1 GLOBAL TURBINES MARKET: PRODUCT OVERVIEW

      5.1.1 GLOBAL TURBINES MARKET VOLUME SHARE BY PRODUCT SEGMENT, 2013 AND 2020

5.2 HYDROPOWER TURBINES MARKET, BY VOLUME AND REVENUE, 2013 – 2020 (GW) (USD BILLION)

5.3 STEAM TURBINES MARKET, BY VOLUME AND REVENUE, 2013 – 2020 (GW) (USD BILLION)

5.4 GAS-BASED TURBINES MARKET, BY VOLUME AND REVENUE, 2013 – 2020 (GW) (USD BILLION)

5.5 WIND TURBINES MARKET, BY VOLUME AND REVENUE, 2013 – 2020 (GW) (USD BILLION)

5.6 NUCLEAR TURBINES MARKET, BY VOLUME AND REVENUE, 2013 – 2020 (GW) (USD BILLION)

 

CHAPTER 6 GLOBAL TURBINES MARKET: REGIONAL ANALYSIS

6.1 GLOBAL TURBINES MARKET: REGIONAL OVERVIEW

6.2 NORTH AMERICA

      6.2.1 NORTH AMERICA TURBINES MARKET VOLUME AND REVENUE, BY APPLICATION, 2013 – 2020 (GW) (USD BILLION)

      6.2.2 NORTH AMERICA TURBINES MARKET VOLUME AND REVENUE, BY PRODUCT SEGMENT, 2013 – 2020 (GW) (USD BILLION)

6.3 EUROPE

      6.3.1 EUROPE TURBINES MARKET VOLUME AND REVENUE, BY APPLICATION, 2013 – 2020 (GW) (USD BILLION)

      6.3.2 EUROPE TURBINES MARKET VOLUME AND REVENUE, BY PRODUCT SEGMENT, 2013 – 2020 (GW) (USD BILLION)

6.4 ASIA PACIFIC

      6.4.1 ASIA PACIFIC TURBINES MARKET VOLUME AND REVENUE, BY APPLICATION, 2013 – 2020 (GW) (USD BILLION)

      6.4.2 ASIA PACIFIC TURBINES MARKET VOLUME AND REVENUE, BY PRODUCT SEGMENT, 2013 – 2020 (GW) (USD BILLION)

6.5 REST OF THE WORLD (ROW)

      6.5.1 REST OF THE WORLD (ROW) TURBINES MARKET VOLUME AND REVENUE, BY APPLICATION, 2013 – 2020 (GW) (USD BILLION)

      6.5.2 REST OF THE WORLD (ROW) TURBINES MARKET VOLUME AND REVENUE, BY PRODUCT SEGMENT, 2013 – 2020 (GW) (USD BILLION)

 

CHAPTER 7 COMPANY PROFILES

7.1 VOITH GMBH

      7.1.1 COMPANY OVERVIEW

      7.1.2 FINANCIAL OVERVIEW

      7.1.3 VOITH GMBH REGISTERED TOTAL REVENUE OF USD 6.18 BILLION IN 2013 COMPARED TO USD 6.62 BILLION IN 2012. IN 2013, VOITH’S REVENUE DROPPED BY 6.64% AS COMPARED TO 2012.

      7.1.4 BUSINESS STRATEGY

      7.1.5 RECENT DEVELOPMENTS

7.2 GAMESA CORPORACIÓN TECNOLÓGICA SA

      7.2.1 COMPANY OVERVIEW

      7.2.2 PRODUCT PORTFOLIO

      7.2.3 FINANCIAL OVERVIEW

      7.2.4 BUSINESS STRATEGY

      7.2.5 RECENT DEVELOPMENTS

7.3 GOLDWIND SCIENCE AND TECHNOLOGY CO. LTD.

      7.3.1 COMPANY OVERVIEW

      7.3.2 PRODUCT PORTFOLIO

      7.3.3 FINANCIAL OVERVIEW

      7.3.4 BUSINESS STRATEGY

      7.3.5 RECENT DEVELOPMENTS

7.4 SIEMENS WIND POWER

      7.4.1 COMPANY OVERVIEW

      7.4.2 PRODUCT PORTFOLIO

      7.4.3 FINANCIAL OVERVIEW

      7.4.4 BUSINESS STRATEGY

      7.4.5 RECENT DEVELOPMENTS

7.5 SINOVEL WIND GROUP CO. LTD.

      7.5.1 COMPANY OVERVIEW

      7.5.2 PRODUCT PORTFOLIO

      7.5.3 BUSINESS STRATEGY

7.6 VESTAS WIND SYSTEMS A/S

      7.6.1 COMPANY OVERVIEW

      7.6.2 PRODUCT PORTFOLIO

      7.6.3 FINANCIAL OVERVIEW

      7.6.4 BUSINESS STRATEGY

      7.6.5 RECENT DEVELOPMENTS

7.7 DONGFANG ELECTRIC CORPORATION LIMITED

      7.7.1 COMPANY OVERVIEW

      7.7.2 PRODUCT PORTFOLIO

      7.7.3 FINANCIAL OVERVIEW

      7.7.4 BUSINESS STRATEGY

      7.7.5 RECENT DEVELOPMENTS

7.8 GE WIND ENERGY

      7.8.1 COMPANY OVERVIEW

      7.8.2 PRODUCT PORTFOLIO

      7.8.3 FINANCIAL OVERVIEW

      7.8.4 BUSINESS STRATEGY

      7.8.5 RECENT DEVELOPMENTS

7.9 ENERCON GMBH

      7.9.1 COMPANY OVERVIEW

      7.9.2 PRODUCT PORTFOLIO

      7.9.3 BUSINESS STRATEGY

      7.9.4 RECENT DEVELOPMENTS

7.10 NORDEX SE

      7.10.1 COMPANY OVERVIEW

      7.10.2 PRODUCT PORTFOLIO

      7.10.3 FINANCIAL OVERVIEW

      7.10.4 BUSINESS STRATEGY

      7.10.5 RECENT DEVELOPMENTS

7.11 CHINA MING YANG WIND POWER GROUP LIMITED

       7.11.1 COMPANY OVERVIEW

      7.11.2 PRODUCT PORTFOLIO

      7.11.3 FINANCIAL OVERVIEW

      7.11.4 BUSINESS STRATEGY

      7.11.5 RECENT DEVELOPMENTS

7.12 ORMAT TECHNOLOGIES, INC.

      7.12.1 COMPANY OVERVIEW

      7.12.2 PRODUCT PORTFOLIO

      7.12.3 FINANCIAL OVERVIEW

      7.12.4 BUSINESS STRATEGY

      7.12.5 RECENT DEVELOPMENTS

7.13 ENEL GREEN POWER

      7.13.1 COMPANY OVERVIEW

      7.13.2 PRODUCT PORTFOLIO

      7.13.3 FINANCIAL OVERVIEW

      7.13.4 BUSINESS STRATEGY

      7.13.5 RECENT DEVELOPMENTS

7.14 CYRQ ENERGY, INC.

      7.14.1 COMPANY OVERVIEW

      7.14.2 PRODUCT PORTFOLIO

      7.14.3 BUSINESS STRATEGY

      7.14.4 RECENT DEVELOPMENTS

7.15 CALPINE CORPORATION

      7.15.1 COMPANY OVERVIEW

      7.15.2 PRODUCT PORTFOLIO

      7.15.3 FINANCIAL OVERVIEW

      7.15.4 BUSINESS STRATEGY

      7.15.5 RECENT DEVELOPMENTS

7.16 ALTERRA POWER CORPORATION

      7.16.1 COMPANY OVERVIEW

      7.16.2 PRODUCT PORTFOLIO

      7.16.3 FINANCIAL OVERVIEW

      7.16.4 BUSINESS STRATEGY

      7.16.5 RECENT DEVELOPMENTS

7.17 NORTHERN CALIFORNIA POWER AGENCY

      7.17.1 COMPANY OVERVIEW

      7.17.2 PRODUCT PORTFOLIO

      7.17.3 FINANCIAL OVERVIEW

      7.17.4 BUSINESS STRATEGY

      7.17.5 RECENT DEVELOPMENTS

7.18 RAM POWER CORPORATION

      7.18.1 COMPANY OVERVIEW

      7.18.2 PRODUCT PORTFOLIO

      7.18.3 FINANCIAL OVERVIEW

      7.18.4 BUSINESS STRATEGY

      7.18.5 RECENT DEVELOPMENTS

7.19 U.S. GEOTHERMAL, INC.

      7.19.1 COMPANY OVERVIEW

      7.19.2 PRODUCT PORTFOLIO

      7.19.3 FINANCIAL OVERVIEW

      7.19.4 BUSINESS STRATEGY

      7.19.5 RECENT DEVELOPMENTS

7.20 CONTACT ENERGY

      7.20.1 COMPANY OVERVIEW

      7.20.2 PRODUCT PORTFOLIO

      7.20.3 FINANCIAL OVERVIEW

      7.20.4 BUSINESS STRATEGY

      7.20.5 RECENT DEVELOPMENTS

7.21 SUMITOMO CORPORATION

      7.21.1 COMPANY OVERVIEW

      7.21.2 PRODUCT PORTFOLIO

      7.21.3 FINANCIAL OVERVIEW

      7.21.4 BUSINESS STRATEGY

      7.21.5 RECENT DEVELOPMENTS

7.22 MANNVIT

      7.22.1 COMPANY OVERVIEW

      7.22.2 PRODUCT PORTFOLIO

      7.22.3 FINANCIAL OVERVIEW

      7.22.4 BUSINESS STRATEGY

      7.22.5 RECENT DEVELOPMENTS

7.23 MITSUBISHI HEAVY INDUSTRIES LTD.

      7.23.1 COMPANY OVERVIEW

      7.23.2 PRODUCT PORTFOLIO

      7.23.3 FINANCIAL OVERVIEW

      7.23.4 BUSINESS STRATEGY

      7.23.5 RECENT DEVELOPMENTS

7.24 ENERGY DEVELOPMENT CORPORATION

      7.24.1 COMPANY OVERVIEW

      7.24.2 PRODUCT PORTFOLIO

      7.24.3 FINANCIAL OVERVIEW

      7.24.4 BUSINESS STRATEGY

      7.24.5 RECENT DEVELOPMENTS

List of Figures

 

FIG. 1 Global Turbines: Market Segmentation

FIG. 2 Global Turbines Market Volume and Revenue, 2013 – 2020 (GW) (USD Billion) 

FIG. 3 Value Chain Analysis of Global Turbines Market

FIG. 4 Porter’s Five Forces Analysis

FIG. 5 Global Power Generation Market, Project Cost Breakdown, by Cost Type, 2013 and 2020

FIG. 6 Civil Works Cost Reduction Opportunity, by Cost Influencing Factors

FIG. 7 Grid Connection Cost Reduction Opportunity, by Cost Influencing Factors

FIG. 8 Power Converter Cost Reduction Opportunity, by Cost Influencing Factors

FIG. 9 Transformer Cost Reduction Opportunity, by Cost Influencing Factors

FIG. 10 Market Attractiveness Analysis of Global Turbines Market, by End-user Industry, 2013

FIG. 11 Global Turbines Market Volume Share, by End-user Industry, 2013 and 2020

FIG. 12 Global Turbines Market Revenue Share, by End-user Industry, 2013 and 2020

FIG. 13 Power Generation Industry Global Volume and Revenue Estimates, 2013 – 2020 (GW) (USD Billion) 

FIG. 14 Power Storage Industry, Global Volume and Revenue Estimates, 2013 – 2020 (GW) (USD Billion) 

FIG. 15 Marine Industry, Global Volume and Revenue Estimates, 2013 – 2020 (GW) (USD Billion) 

FIG. 16 Aeronautics Industry, Global Volume and Revenue Estimates, 2013 – 2020 (GW) (USD Billion) 

FIG. 17 Global Turbines Market Volume Share, by Product Segment, 2013 and 2020

FIG. 18 Global Turbines Market Revenue Share, by Product Segment, 2013 and 2020

FIG. 19 Hydropower Turbines, Global Volume and Revenue Estimates, 2013 – 2020 (GW) (USD Billion) 

FIG. 20 Steam Turbines, Global Volume and Revenue Estimates, 2013 – 2020 (GW) (USD Billion) 

FIG. 21 Gas-based Turbines, Global Volume and Revenue Estimates, 2013 – 2020 (GW) (USD Billion) 

FIG. 22 Wind Turbines, Global Volume and Revenue Estimates, 2013 – 2020 (GW) (USD Billion) 

FIG. 23 Nuclear Turbines, Global Volume and Revenue Estimates, 2013 – 2020 (GW) (USD Billion) 

FIG. 24 Global Turbines Market, Revenue Share by Region, 2013 and 2020

FIG. 25 Global Turbines Market, Volume Share by Region, 2013 and 2020

List of Tables

 

TABLE 1 Global Turbine Market: Snapshot, 2013 & 2020

TABLE 2 Drivers of Turbine Market: Impact Analysis

TABLE 3 Restraints of Turbine Market: Impact Analysis

TABLE 4 Opportunities of Turbine Market: Impact Analysis

TABLE 5 Global power plant cost breakdown and forecast, by cost type, 2013 – 2020 (Million USD/MW) 

TABLE 6 North America Turbines Market Volume, by Application Segment, 2013 – 2020 (GW)

TABLE 7 North America Turbines Market Revenue, by Application Segment, 2013 – 2020 (USD Billion) 

TABLE 8 North America Turbines Market Volume, by Product Segment, 2013 – 2020 (GW) 

TABLE 9 North America Turbines Market Revenue, by Product Segment, 2013 – 2020 (USD Billion) 

TABLE 10 Europe Turbines Market Volume, by Application Segment, 2013 – 2020 (GW) 

TABLE 11 Europe Turbines Market Revenue, by Application Segment, 2013 – 2020 (USD Billion) 

TABLE 12 Europe Turbines Market Volume, by Product Segment, 2013 – 2020 (GW) 

TABLE 13 Europe Turbines Market Revenue, by Product Segment, 2013 – 2020 (USD Billion) 

TABLE 14 Asia Pacific Turbines Market Volume, by Application Segment, 2013 – 2020 (GW) 

TABLE 15 Asia Pacific Turbines Market Revenue, by Application Segment, 2013 – 2020 (USD Billion) 

TABLE 16 Asia Pacific Turbines Market Volume, by Product Segment, 2013 – 2020 (GW) 

TABLE 17 Asia Pacific Turbines Market Revenue, by Product Segment, 2013 – 2020 (USD Billion) 

TABLE 18 Rest of the World (RoW) Turbines Market Volume, by Application Segment, 2013 – 2020 (GW) 

TABLE 19 Rest of the World (RoW) Turbines Market Revenue, by Application Segment, 2013 – 2020 (USD Billion) 

TABLE 20 Rest of the World (RoW) Turbines Market Volume, by Product Segment, 2013 – 2020 (GW) 

TABLE 21 Rest of the World (RoW) Turbines Market Revenue, by Product Segment, 2013 – 2020 (USD Billion) 

TABLE 22 Product offering of Voith GmbH

TABLE 23 Product offering of Gamesa Corporación Tecnológica SA

TABLE 24 Product offering of Goldwind Science and Technology Co. Ltd. 

TABLE 25 Product offering of Siemens Wind Power

TABLE 26 Product offering of Sinovel Wind Group Co. Ltd. 

TABLE 27 Product offering of Vestas Wind systems A/S

TABLE 28 Product offering of Dongfang Electric Corporation Limited

TABLE 29 Product offering of GE Wind Energy

TABLE 30 Product offering of Enercon GmbH

TABLE 31 Product offering of Nordex SE

TABLE 32 Product offering of China Ming Yang Wind Power Group Limited

TABLE 33 Product offering of Ormat Technologies, Inc. 

TABLE 34 Product offering of Enel Green Power

TABLE 35 Product offering of CYRQ Energy, Inc. 

TABLE 36 Product offering of Calpine Corporation

TABLE 37 Product offering of Alterra Power Corporation

TABLE 38 Product offering of Northern California Power Agency

TABLE 39 Product offering of Ram Power Corporation

TABLE 40 Product offering of U.S. Geothermal, Inc. 

TABLE 41 Product offering of Contact Energy

TABLE 42 Product offering of Sumitomo Corporation

TABLE 43 Product offering of Mannvit

TABLE 44 Product offering of Mitsubishi Heavy Industries Ltd. 

TABLE 45 Product offering of Energy Development Corporation

 

The global turbine market was valued at USD 135.68 billion in 2013 and is expected to reach USD 191.87 billion by 2020 at a CAGR of 4.89% from 2014 to 2020. Volumetrically, this accounts to 5,792.97 Gigawatts (GW) in terms of installed turbine capacity in 2013, which may amount to approximately 7,468.84 GW by 2020. Asia Pacific alone accounted for 40.4% of the overall market share in 2013, valued at USD 42.89 billion (2,341.19 GW). The region is expected to reach market capitalization to the tune of USD 68.57 billion (3,499.14 GW), growing at a rate of 5.81% from 2014 to 2020. With a large number of infrastructure and oil field development projects planned across the globe, the demand for steam turbines in the market is anticipated to be dominant till 2020. The demand for turbines is likely to increase significantly owing to the rapidly developing hydrocarbons sector along with various upcoming mega power projects.

 

Generating power is the prime reason behind an increased demand for turbines. A turbine is a piece of equipment designed and built for efficient power generation using a viable source, such as coal and natural gas in fossil sources, and wind and water in renewable ones. The source feed is ignited and the resulting pressure is directed through nozzles to drive the turbine blades, in case of impulse turbines. For reaction turbines, the feed material e.g. air in case of wind turbines and rivers or dams in case of hydropower ones, goes ‘through’ the blades to drive the turbine.

 

Currently, governments of nations facing persistent power shortages are taking measures to constantly upgrade their power generation capacity in order to meet the demand from industries and households. Many new power plants that are primarily powered by steam and gas turbines are under the process of being commissioned, while construction of few is currently ongoing. There is also the renewable energy sector, which has gained rapid momentum over the last few years. The world has expressed significant interest in diversifying its energy portfolio and adopting renewable energy technologies in the near future. Presently, the market for turbines includes reputed companies such as Alstom S.A., General Electric Energy, Siemens Energy, Ballard Power Systems Inc., Doosan Fuel Cell America, Inc., Vestas Wind Systems A/S, Sinovel Wind Group Co., Ltd., Goldwind Science & Technology Co., Ltd., and Kirloskar Brothers Limited. Most of these players operate through dealers and distributors (many of which are exclusive to a single company). Product range generally comprises steam, gas, hydro or wind turbines. 

 

For a considerable duration of time, steam turbines were the major source of power generation. Over the years as government bodies and the consumers discovered the imperative effects of carbon emissions and global warming, efforts were made to reduce current levels as well as monitor future emission intensity. This led to a global shift in the power generation industry. Power producers alternated coal for natural gas or renewable energy sources, such as solar, wind or hydropower. Even though coal constitutes a major part of the emerging economies’ energy mix, it is expected that coal will slowly fade out over the years.

 

Growing population base across the globe is augmenting the demand for power and heat. Further, regions located close to the Arctic belt have been experiencing harsh winter temperatures due to the significant change in average earth temperature since 1980s. Such cities have increased seasonal power demand. In order to cope with the additional seasonal demands, power producers generally buy power from other sources, which could cost much more than the average market price as it is being bought under distress. Thus, power producers decided to shift from coal to natural gas or renewables as a source for power generation. This trend is likely to continue for the next few decades.

 

 


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