Turbo Machine Market – A rotating machine with continuous transfer of energy
- A turbo machine can be defined as devices that exhibits energy to an uninterruptedly moving stream of fluid. The basic function of the machine is to transfers energy between a rotor and a fluid.
- Principal components of a turbo machine include a vane carrying rotating element called rotor, impeller or runner, input and output shaft, and housing and other stationary elements.
- Dynamic movement of the impeller creates a force between it and the fluid, giving rise to transfer of energy between blades and the fluid.
- In the coming years the up-surge in the demand for power, particularly in growing economies, the turbo machines are expected to gain noteworthy traction
- Turbo machines are the key components used in the jet engines used in automobile and aerospace industries.
Construction of New Power Plants Driving Sale of Turbo Machines to Drive the Global Turbo Machine Market
- There has been a rise in the construction of new power plants globally. A turbo machine in an integral component of a power plant; for instance, a gas turbo machine is used in a gas turbine power plant. A gas-turbine power plant consists of combustion chamber or combustor or burner. The gas contained in the combustion chamber gets heated or combusted with the help of a turbo machine. The heated gas expands and produces mechanical power for the generation of electricity. Thus, rise in the construction of gas-turbine power plants is likely to drive the sale of turbo machines.
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North America to Hold a Leading Share of Global Turbo Machine Market
- Geographically, the global Turbo Machine market can be divided into five regions: North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA).
- North America country-level analysis features the U.S., Canada, and Rest of North America. Analysis and forecast of the Turbo Machine market in Europe includes markets across the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the Turbo Machine market analysis and forecast of GCC countries, South Africa, and Rest of Middle East & Africa. The South America Turbo Machine market is segmented into Brazil, and Rest of South America.
- North America dominates the market share during the forecast period and expected to continue its dominance for the coming years.
- However, Asia Pacific is anticipated to grow at a fastest CAGR growth rate during the forecast period. The growth of Asia Pacific market is predominantly attributed to the rising demand for turbo machines in the developing countries such as India, and China.
Key Players Operating in the Turbo Machine Market:
The presence of key players in the turbo machine market is leading to competition among vendors. Limited branded and global players are dominating the overall market. To distinguish their products from competitors, players are focusing on product technology, and add-on features.
Players operating in the turbo machine market are introducing new technologies with varied product portfolios and also developing supply chain networks in order to sell their products in the market. As result of this, the market is anticipated to witness an upsurge in the trend of growing production of low-cost turbo machines and demand for bringing down production cost. This in turn is expected to drive the adoption rate of turbo machines. A few of the key players operating in the global turbo machine market are:
- ABB Group
- General Electric Company (GE)
- Honeywell International Inc.
- Siemens AG
- Alstom SA
- Mitsuishi Hitachi Power Systems
- Bharat Heavy Electricals Ltd.
- AnsaldoEnergia SPA
- Yokogawa Electric Corporation
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Global Turbo Machine Market: Research Scope
Global Turbo Machine Market, by Type
- Turbo Machine (Work Done by Fluid)
- Axial Flow Hydraulic Turbine
- Radial Flow Hydraulic Turbine
- Mixed Flow Hydraulic Turbine
- Axial Flow Gas Turbine
- Pelton Wheel Hydraulic Turbine
- Turbo Machine (Work Done on Fluid)
- Centrifugal Pump
- Axial Flow Pump
- Centrifugal Compressor
- Axial Flow Compressor
- Radial Flow Fan
Global Turbo Machine Market, by End Use
- Power Generation
- Others (General Industrial Machinery, etc.)
The report on the global turbo machine market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on market segments and regions.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.