Global Turbine and Turbine Generator Set Units Market Segments 2024, Forecast To 2033
5 Mar, 2024
The turbine and turbine generator set units market size has experienced rapid growth, moving from $213.96 billion in 2023 to $235.54 billion in 2024, with a CAGR of 10.1%. This expansion is attributed to energy demand and power generation needs, industrialization and infrastructure development, government policies and energy regulations, global economic growth, and natural resource utilization. The market is expected to witness strong growth, reaching $336.42 billion in 2028, sustaining a CAGR of 9.3%. Major trends in the forecast period include renewable energy transition, decentralized power generation, government incentives for clean energy, grid modernization, and smart energy systems.
Global Turbine and Turbine Generator Set Units Market Key Driver
The turbine and turbine generator set units market is experiencing growth with the surge in power demand. According to the International Energy Agency, global energy demand increased by 6% in 2021, driving the growth of the turbine and turbine generator set units market.
Get A Free Sample Of The Global Turbine and Turbine Generator Set Units Market ReportGlobal Turbine and Turbine Generator Set Units Market Segments
The turbine and turbine generator set units market covered in this report is segmented –
1) By Product: Hydro, Steam, Gas-based, Wind, Nuclear
2) By Capacity: Below 75 kVA, 75-350 kVA, Above 350 kVA
3) By Application: Standby Backup Power, Prime Or Continuous Power, Peak Shaving Power
4) By End-User: Residential, Commercial, Industrial
By Geography: The regions covered in the anti inflammatory therapeutics market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
Asia-Pacificwas the largest region in the turbine and turbine generator set units market in 2023. Asia-Pacific is expected to be the turbine and turbine generator set units market report fastest-growing region in the forecast period. The regions covered in the turbine and turbine generator set units market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Turbine and Turbine Generator Set Units Industry Players
Mitsubishi Heavy Industries Ltd.; Aksa Power Generation Corp.; Briggs & Stratton Corporation; Caterpillar Inc.; Cummins Inc.; Doosan Corporation; Kohler Co.; Wärtsilä Corporation; Generac Power Systems Inc.; Harbin Electric Company Limited; Bharat Heavy Electricals Limited; Siemens AG; General Electric Company; Toshiba Corporation; Dongfang Electric Corporation Limited; Wacker Neuson SE; Gamesa Corporación Tecnológica SA; Senvion SA; Ansaldo Energia SpA; Kawasaki Heavy Industries Ltd.; Alstom SA; Hitachi Ltd.; Nanjing Turbine & Electric Machinery Co. Ltd.; OPRA Turbines BV; MAN Energy Solutions SE; Shanghai Electric Group Company Limited; Yanmar Co. Ltd.; Vestas Wind Systems A/S; Goldwind Science & Technology Co. Ltd.; Baker Hughes Co.; Nordex SE
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AIOps Turbine and Turbine Generator Set Units Market Overview
A turbine refers to a machine in which the rotation of a bladed rotor transforms the kinetic energy of a moving fluid into mechanical energy. Turbine generator set units refer to the combination of a turbine and generator, which turns the turbine's mechanical energy into electricity.
Turbine and Turbine Generator Set Units Global Market Report 2023 provides data on the global turbine and turbine generator set units market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The turbine and turbine generator set units market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.