North America Steam Turbine Market Share will witness a significant growth on account of rising investments toward developing large scale coal fired thermal power projects. Governmental regulations pertaining to reduction of region’s carbon footprint will further augment the product deployment rate. Moreover, growing initiatives to balance the electricity demand-supply mismatch coupled with expanding industrial infrastructure will drive the technology demand across the region positively.
Impulse steam turbine market will grow across the region on account of low maintenance and operating cost coupled with compact size. Furthermore, higher efficiency, ability to operate on atmospheric pressure and easy assembly are some of the paramount features favoring the product penetration across North America.
Increasing investments across utility sector in order to balance the electricity demand-supply mismatch will propel the demand for Market from reaction turbines. In addition, high efficiency, minimal material requirement and higher power output in comparison with impulse turbine are some of the key factors that will boost business growth in the forecast timeline.
Non-condensing steam turbines market will grow moderately owing to the ease of installation and ability to operate in harsh climatic conditions. Moreover, product demand is anticipated to increase from processing industries on account of steam delivery at desired pressure.
Escalating adoption of super and ultra-super critical steam generation technologies will boost the industry growth from >100 MW steam turbines substantially. Expansion of power generation capacity and soaring requirement for captive power systems are few of the prominent factors which will further escalate the product penetration in the region over the forecast period.
Supportive government reforms along with positive economic outlook will result in expansion of medium-scale industries, which will further favor the deployment of 3-100 MW steam turbines. Moreover, rising focus toward cogeneration technologies along with growing emphasis on energy optimization will further complement the industry growth.
U.S. steam turbine market is set to witness a moderate growth owing to growing deployment of combined cycle technologies across various captive power generating stations. The enhancing utilization of cogeneration technologies will further propel the technology demand over the forecast period.
The major players operating in market include Siemens AG, Triveni Turbines, Toshiba Corporation, PBS ENERGO, General Electric Company, Chola Turbo Machinery International Pvt. Ltd, Mitsubishi Hitachi Power Systems Ltd., Power Systems Mfg. LLC, Shin Nippon Machinery, BHEL, Fuji Electric Co., Ltd., Kawasaki Heavy Industries Ltd., Eliott Group, MAN Energy Solutions amongst others.