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A report on Turbomachinery Market was added by Kenneth Research which covers the market size and growth over a span of 9 years, i.e., over the forecast period 2022-2031. The market study involves analysis of the product demand and market on the basis of various factors and through a number of analytical tools.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Turbomachinery Market Products.
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As per the statistics recorded by the U.S. Energy Information Administration, the investments in solar PV and wind energy increased by about 15% from 2010 to 2018 in the United States. This increased expenditure in the industry is predicted to be observed as a result of rising corporate procurement in the region and in this sector.
The global turbo-machinery market was valued at US$ XX Mn in 2017 and is expected to reach US$ XX Mn by 2022 growing at a CAGR of XX% during the forecast period. A turbo-machine in general can be defined as devices which extract from or imparts energy to a continuously moving stream of fluid. It basically transfers energy between a rotor and a fluid. Compressors, turbines and fans all come under the same family of the turbo-machines.
The oil and gas industry, power plants, automobiles and aero-space sector etc are the end-users of this market.
MARKET DYNAMICS:
The following factors are important in deciding the fate of the market.
Market Drivers:
The gas turbines are durable and have low maintenance costs.
The high growth rate of the oil and gas industry has directly boosted the global turbo-machinery industry the former being its primary end-user.
With the surge in the demand of power especially in the developing countries the power plants are vastly employing turbo-machinery.
Automobile and aerospace industries also use turbo-machines. It is the primary component in the jet engines.
Pumps (a type of turbo-machine) have innumerable uses. With its never-ending demand it provides forward momentum to the industry.
Technological advancements have also brought down the installation and maintenance costs thus leading to the growth of the industry.
Market Restraints:
Turbo-machines have very high installation costs.
The functioning of the turbo-machines are often associated with the emission of green house gases which pose environmental threats.
Turbo-machinery industry owing to its direct link to the oil and gas industry has suffered setbacks whenever the latter faced challenges.
Raw material constraints also affect the growth of the industry negatively.
Market opportunities:
Modernisation of the technologies could reduce the start-up time, increase the productivity at idle speeds and enhance the sensitivity to modification in power demands thus increasing the overall efficiency of the turbo-machines. Development in material science would bring down the high initial installation costs thus making these machines more economical.
MARKET SEGMENTATION:
The Turbomachinery Market can be segmented into the following parts:
Based on the types:
Single diaphragm
Double & Multiple diaphragm
Based on the rated capacity:
1-40 MW
40-120 MW
40-120 MW
120-300 MW
Above 300 MW
Based on application:
Oil and Gas
Power generation
Transportation and automotive
Others
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Based on geographic market distribution:
North America
Europe
Asia-Pacific
Latin America
The Middle East
Africa
GEOGRAPHIC ANALYSIS:
North-America holds the highest share in the turbo-machinery market and is expected to lead in the next decade. It is followed by the Asia-Pacific and Europe respectively. Asia-Pacific has the fastest growth rate in terms of market demand owing to the developing countries in the region. Demand is particularly high in countries like China, India, the UK, Netherlands, the US etc.
KEY PLAYERS:
Some the major players in this market are:
Siemens AG
Alstom SA
Bharat Heavy Electricals Ltd.
Mitsuishi Hitachi Power Systems
General Electric Company
AnsaldoEnergia SPA
Report ContentsRegional AnalysisReport Highlights
Market segments
Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market – Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
North America
US and Canada
Latin America
Mexico, Brazil, Argentina and Rest of Latin America
Western Europe
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
Eastern Europe
Russia
Poland
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia and New Zealand
Rest of Asia Pacific
Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
South Africa
North Africa
Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
Market Segmentation
Estimated Market Sizing in terms of volume and value
Recent trends in Market and impact
Research Status and Technology Overview
Extensive Industry Structure Coverage
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About Kenneth Research:
Kenneth Research is a multi-client market research database that aims at providing reports that help industry professionals including various individuals and organizations to identify the market trends and scope, thereby making it easier for them to take decisions and form strategies after complete assessment of the market. The various industries catered by the company include healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defence and several others. Being a global market research reselling firm, Kenneth Research provides strategic business consultancy services at a global level and offers a single platform for the best market research reports.
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