The global market for turbine and turbine generator set units manufacturing reached $110.7 billion in 2016. The market should reach $181.8 billion by 2020, growing at a compound annual growth rate (CAGR) of 13.2% from 2016 to 2020.

Report Scope:

This research report categorizes the turbine and turbine generator set units manufacturing market by type. Product type include steam and gas turbine, wind turbine, and hydro turbine.

Report Includes:

- An overview of the global market for turbine and turbine generator set units manufacturing.
- Analyses of global market trends, with data from 2016, estimates for 2017, and projections of compound annual growth rates (CAGRs) through 2020.
- Information on major trends and challenges affecting the market, including technological developments, economic growth, and decreasing oil and gas prices.
- Analysis of expenditure per capita and the turbine and turbine generator set units manufacturing indicators comparison.
- Coverage of market growth, with detailed regional and country analyses, including regions and major emerging markets.
- Profiles of major players in the industry.

Summary

Global turbine and turbine generator set units manufacturing market is currently in a very crucial phase of transformation. There is mounting pressure to reduce costs, improve quality and satisfy customers as it has been moving from a provider-driven model to a consumer-driven model. At the same time, emerging markets growth, low oil and gas prices, and technology development are driving the demand for turbine and turbine generator set units. In addition, rapid pace of electrification and power generation capacities in South Asian and African countries has stimulated the demand for electricity. These factors are, in turn, generating demand for turbine and turbine generator set units to meet high
expectations.

The market for turbine and turbine generator set units manufacturing reached a value of nearly $111 billion in 2016 and is expected to grow at a compound annual growth rate (CAGR) of 13.2% to nearly $182 billion by 2020.

The market for turbine and turbine generator set units manufacturing is somewhat concentrated with a few large players dominating the market. Major players in the market are General Electric Company, Siemens AG, Vestas Wind Systems A/S, among others. Steam and gas turbine accounted for the largest share of the market for turbine and turbine generator set units manufacturing in 2016 at REDACTED. Thehighest growth is projected to come from wind turbine, which is forecast to grow at a CAGR of REDACTED.

Asia-Pacific is the largest market for turbine and turbine generator set units manufacturing, accounting for REDACTED of the global market. It was followed by Western Europe and North America. Going forward, Eastern Europe is expected to witness the fastest growth in the turbine and turbine generator set unitsmanufacturing market, estimated at a CAGR of REDACTED, followed by Asia Pacific, expected to grow at a CAGR of REDACTED.

China is the largest market in terms of value and is driving the market for turbine and turbine generator set units manufacturing. Russia and China are expected to have the fastest growth, growing at a CAGR of REDACTED and REDACTED, respectively.

The market is challenged by increasing debts which is a major restraint for many utility companies.Utility investors are looking for stable returns at low risk while some investors are looking for more risk in exchange of higher returns. As a result, many utilities have moved through various asset sales.