Changes in the Global Energy Mix Are Impacting the Turbines Market: Here’s How

If the growth in the market size of turbines is any sign, the global power generation market is undergoing a sweeping change. This change in status quo is evident with the changing demand patterns for turbines of different kinds. As evidenced by a recent study by Transparency Market Research, the global turbines market is expected to chart an encouragingly steady growth graph over the next few years.

Here’s what the figures foretell: The valuation of the global turbines market, based on revenue, was US$ 135.68 billion as of 2013 and it will soar to US$ 191.87 billion by the end of 2020. This translates to a CAGR of 4.89% between 2013 and 2020. Asia Pacific was seen as the single-largest wind turbine market in the world, holding about 40.4% of the global as of 2013 – this translated to a valuation of US$42.89 billion ( volumetrically, 2,341.19 GW).

The change in the energy mix that is being stress on by several governments has manifested itself in the type of power generation components gaining sales volumes and revenue. Power turbines are a case in point. 

Browse Market Research Report of Global Turbines Market: 

http://www.transparencymarketresearch.com/turbines-market.html

Here are the few most crucial trends that are steering the growth of the global power turbines market:

• The power crunch impacts turbine sales: Power shortages stir demand for turbines in the wind and solar power generation industries. This change is especially evident in countries where power shortages are agonizingly regular. Several of the new power plants mushrooming in these countries are powered by gas and steam turbines. The anticipated commissioning of many more steam- and gas turbine-powered plants is expected to have a positive impact on the global turbines market.

• Turbine sales change course as renewable sector rises: The renewable energy sector has gained enough critical mass in the past few years to become a full-fledged market in itself. Renewable energy generation relies on the use of specialized turbines that are engineered differently than traditional turbines.

• Steam turbines being alternated for other variants: For several decades, steam turbines dominated the power generation plan. But with problems associated with carbon emissions and global warming coming to the fore, the coal eventually began to make way for natural gas. As things stand today, interest is also shifting toward wind power, hydropower, and solar energy. 

• Demand for turbines in regions close to Arctic belt rising: Changes arising from an alteration in the average temperatures of the earth have caused winters to become harsher with every passing year in regions in close proximity of the arctic belt. These changes cause power demand to spiral during winters, leading power producers to purchase additional power from other sources. The cost of such distress-power-purchases is often prohibitively high. It is in such regions that turbine manufacturers can explore new avenues. 

Browse Market Research Press Release of Global Turbines Market: 

http://www.transparencymarketresearch.com/pressrelease/turbines-market.htm

That having been said, the global turbines market will likely be suppressed by a number of factors. The high-initial cost of installing a turbine is often the greatest deterrent for many consumers. Moreover, certain turbine systems (especially solar and wind) are climate-dependent – this is an important challenge that manufactures of turbines are expected to overcome.

Turbines Market is Expected to Reach USD 191.87 Billion by 2020 in terms of Revenue: Transparency Market Research

Transparency Market Research has released a new market report titled “Turbines Market - Global Industry Analysis, Market Size, Share, Growth, Trends and Forecast 2014 - 2020.” According to the report, global turbines market revenue 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 2013 through 2020.

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.

Browse the full Turbines Market Report: http://www.transparencymarketresearch.com/ turbines-market.html

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.

Browse the full PRess Release of Turbines Market Report: 

http://www.transparencymarketresearch.com/pressrelease/turbines-market.htm

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.

This research study is designed to estimate, analyze, and forecast the global turbines market. The overall market has been estimated on the basis of installed volume and revenue. The research provides in-depth analysis of manufacturers and suppliers in the turbines industry, which are involved in the business at various levels of the value chain. The research includes detailed analysis, historical data, and statistically refined forecast for the segments covered. On the other hand, end-user industries that use turbines as a long-term backup source generally prefer to purchase new ones. As a result, market size for turbines varies depending on need and preference of end-user industries.

The product type analysis for turbines was estimated, keeping in mind the major construction and expansion projects planned by the governments and corporations across the globe. It was estimated that during harsh winter weather, project developers generally prefer renting turbines. However, post construction, operators prefer buying new units. While conducting the study, we took into consideration the key construction projects planned till 2020 such as power plants, hydropower storage projects, marine installations, and aircraft jet installations. We have considered 2013 as the base year for this study, while all forecasts have been done for 2014 to 2020. Qualitative analyses such as major planned projects and investment by power plant operators were considered while computing the volume and revenue market size for turbines.

This research analyzes and estimates the performance and market of turbine systems in the global scenario, providing detailed trend analysis of the market by geography and comprehensive analysis of companies that are dealing in turbine systems. The report presents a thorough assessment of the strategies followed by different stakeholders by segmenting the turbines systems market 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)

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