Dublin, Feb. 04, 2025 (GLOBE NEWSWIRE) -- The "Turbines - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Turbines was valued at US$146.1 Billion in 2024 and is projected to reach US$204.2 Billion by 2030, growing at a CAGR of 5.7% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. 
Turbines play a critical role in converting kinetic and thermal energy into mechanical energy across various industrial sectors. These devices typically feature a rotor with blades or nozzles, where fluid interaction generates rotational motion and subsequent energy. The most notable types include wind turbines, steam turbines, and gas turbines, each tailored to specific applications and markets.
As the world moves towards sustainable energy solutions, wind turbines have gained prominence, supported by favorable governmental policies and subsidies promoting green energy. Technological advancements have made wind turbines more efficient and cost-effective, enabling broader deployment, including in offshore locations.
The growth in the turbine market is driven by several factors. Firstly, the surge in demand for renewable energy has significantly boosted the wind turbine market, driven by government incentives, advancements in turbine technology, and increased environmental awareness among consumers. The market for steam turbines remains strong due to the shift towards cleaner energy sources like natural gas and the continued use of nuclear power.
Advances in materials and design have enhanced their efficiency and reduced operational costs. Gas turbines benefit from increased natural gas production, particularly from shale reserves, leading to more natural gas-fired power plants. The aviation industry's expansion, fueled by rising air travel demand, has led to advancements in gas turbine technology, improving fuel efficiency and reducing emissions. Consumer trends towards eco-friendly and sustainable energy solutions further accelerate the adoption of these technologies. Overall, the turbine market's growth is driven by technological innovations, evolving energy policies, and changing consumer preferences, creating a dynamic and rapidly evolving industry landscape.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Acciona Energia, Andritz AG, Ansaldo Energia S.p.A., Bharat Heavy Electricals Limited (BHEL), DONGFANG TURBINE CO. LTD. and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Wind Turbines segment, which is expected to reach US$99.4 Billion by 2030 with a CAGR of a 8.7%. The Gas Turbines segment is also set to grow at 4.2% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, valued at $20.3 Billion in 2024, and China, forecasted to grow at an impressive 7.5% CAGR to reach $60.2 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 504 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value (USD) in 2024 | $146.1 Billion |
| Forecasted Market Value (USD) by 2030 | $204.2 Billion |
| Compound Annual Growth Rate | 5.7% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Turbines: Enhancing the Performance of Power Generation
- Global Turbines Market Capacity in Megawatts for the Years 2022 and 2024E
- A Prelude to Turbines: The Energy Generators
- Global Turbines Market Looks Forward to a Gust of Energetic Growth: Prospects & Outlook
- Dynamic Factors Turbocharging Growth of Global Turbine Market
- Turbines Market: Insights into US Regulatory Regime
- Competitive Scenario
- Select Innovations
- Turbines - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
- Disruptive Effect of Renewable Energy on the Traditional Electricity System: The Fundamental Growth Driver
- Factors Disrupting the Global Energy Market
- Smart Solutions to Mitigate Issues
- Rising Share of Renewable Sources in Energy Generation Portfolio
- Declining Cost of Wind and Solar Power Make Renewables an Integral Part of Energy Portfolio
- Recent Market Activity
- Influencer Market Insights
- Select Global Brands
MARKET TRENDS & DRIVERS
- Electricity Demand Patterns to Drive Growth for Energy Sector: Turbines Market to Gain Momentum
- Energy Sector: Pandemic Brings Numerous Challenges to the Turbines Market
- Opportunities for the Power & Energy Sector in the Post-Pandemic Era
- Harnessing the Ancient Power of the Wind, a Force that Shaped Our History and Now Guiding Our Quest for Sustainable Energy
- Without Ingenious Machinery like Turbines at its heart, the Clean Energy Transition Will Fail
- An Engineering Feat at the Heart of Wind Energy Are Turbines & Rotor Blades
- Surge in Number of Wind Farms Worldwide Benefit Demand for Wind Turbines
- Strong Investments in Wind Energy Provides the Launchpad for the Growth of Wind Turbines
- Massive Volumes of Installed Capacity Needed to Meet the Ambitious Wind Goals Ensures a Strong Decade Ahead for Wind Turbines
- Offshore Wind Energy Touted to Change the Future of Energy Generation
- Rising Popularity of Small Wind Turbines Bodes Well for Market Growth
- Rotor Blades Get Bigger, Bigger & Bigger. Here We Unravel the Engineering Rationale Behind the Trend
- Taller Turbine Towers & Longer Blades are Set to Capture More Energy
- New Developments in Carbon-Fiber-Reinforced Polymers as Evidenced by the Growing Market for Carbon Fibre Composites Bodes Well for Development of Innovative Carbon Fiber Based Turbine Blades
- Bladeless Turbines Raises Excitement Levels in the Wind Turbines Space
- Wind Arena Witnesses Winds of Change with Turbine Standardization & Modularization
- Wind Energy Industry Runs Like a Wind with Tapered Roller Bearings for Turbines
- Growing Prominence of Distributed Power Generation Benefits Market Prospects for Combustion Turbines
- Micro Turbines Witness Increasing Deployment in Distributed Energy Generation
- Despite Coal-Fired Thermal Power Dominance, Several Issues Hamper Market Prospects for Steam Turbines
- Steam Turbine Manufacturers Focus on Improving Turbine Designs for Increased Efficiencies
- Turbines Market Hits the Gas Pedal with Remarkable Growth of Gas Turbine Industry
- Dynamic Factors Shaping Future Trajectory of Global Gas Turbine Industry
- Growing Production & Supply of Natural Gas Drive Growth in Demand for Gas Turbines
- Emergence of Shale Gas as a Viable Energy Source Generates Opportunities for Gas Turbines
- Technically Recoverable Shale Gas by Geographic Region
- Electric Motors: A Rising Threat to Gas Turbines?
- Exponential Increase in Global Population & Urbanization Rate: A Mega Trend Strengthening Market Prospects
- Rapid Urbanization: A Mega Growth Driver for Energy Sector and Turbines
- Smart Cities & Smart Grids Elevate the Prospects for Energy Sector and Turbines
FOCUS ON SELECT PLAYERS:Some of the 169 major companies featured in this report
- Acciona Energia
- Andritz AG
- Ansaldo Energia S.p.A.
- Bharat Heavy Electricals Limited (BHEL)
- DONGFANG TURBINE CO. LTD.
- GE Vernova Inc.
- Goldwind Science & Technology Co. Ltd.
- Harbin Electric Corporation co.Ltd.
- Kirloskar Brothersd Ltd.
- Litostroj Power Group
- Mitsubishi Power
- Rolls-Royce plc
- Siemens Energy AG
- Sinovel Wind Group Co., Ltd.
- Vestas Wind Systems A/S
For more information about this report visit https://www.researchandmarkets.com/r/h4fhuf
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