Join our smart investors - Get the best stock directories in  blockchain, cannabis, crypto, AI, IoT, cleantech. Daily podcasts in cannabis and crpto. Just $99  a year

APAC will continue to lead global steam turbine market through 2022, says GlobalData


August 28, 2018 ( Newswire) The Asia-Pacific (APAC) region will continue to hold its top position in the global steam turbine market, which is expected to reach a market value of $8.95bn in 2022, according to leading data and analytics company GlobalData.

APAC was the largest market for steam turbines in 2017 registering 73.2% of the global market share. Europe, Middle East, and Africa (EMEA) was the second-largest market, with 17.5% share, followed by the Americas with 9.3%.

The company's latest report 'Steam Turbines for Thermal Power, Update 2018 - Global Market Size, Competitive Landscape, Key Country Analysis, and Forecast to 2022' reveals that the global steam turbine market will decline from $13.06bn in 2017 to $8.95bn in 2022 due to transition to renewable and clean energy technologies from coal based power technologies in countries across the globe.

Subha Krishnan, Power Analyst at GlobalData, says: "Increasing demand for uninterrupted power from developing countries such as China and India is expected to contribute to the market value of steam turbines during the forecast period. Developments with respect to coal capacity additions from countries like Turkey, Egypt, South Africa, Saudi Arabia, Indonesia, and Vietnam contribute to the projected market trends for the forecast period."

"Key drivers in the global steam turbine market include governments' mandated use of clean coal technologies for new coal-fired power plants, increased demand for combined-cycle gas turbine plants, cheap coal prices, and supportive policies in some countries for coal-fired power plants."

In 2017, China was identified as the top country for steam turbines in terms of shipment capacity followed by India, the US, Saudi Arabia and Vietnam. The Chinese government is now stringently holding back the construction of new coal-fired power plants to become a global leader in clean energy, deal with the capacity glut in the coal sector, and reduce the country's CO2 emissions.

However, the new projects are based on the usage of advanced technologies such as supercritical and ultra-supercritical technology. The country plans to add around 210 gigawatts (GW) of new coal power capacity by 2020, which makes it one of the dominant markets for steam turbines globally through the study period.

On the other hand, Indian market is expected to decline in the forecast period due to a gradual shift towards cleaner technologies. The Indian government is promoting supercritical technology for coal-fired power plants to ensure lower CO2 emissions.

Krishnan concludes: "Government plans to add coal-fired capacity, mandatory use of advanced technologies like ultra-supercritical, supercritical, and other clean coal technologies for existing and upcoming coal power plants are the key factors that will determine the future of installations across the world."

For more information

To gain access to our latest press releases: GlobalData Media Centre Analysts available for comment. Please contact the GlobalData Press Office:

EMEA & Americas: +44 (0)207 832 4399
Asia-Pacific: +91 40 6616 6809

For expert analysis on developments in your industry, please connect with us on: GlobalData Energy | LinkedIn | Twitter

Notes to Editors

  • Comments provided by Harminder Singh, Power Analyst at GlobalData
  • Information based on GlobalData's Steam Turbines for Thermal Power, Update 2018 - Global Market Size, Competitive Landscape, Key Country Analysis, and Forecast to 2022
  • This report was built using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis conducted by GlobalData's team of industry experts.

About GlobalData

4,000 of the world's largest companies, including over 70% of FTSE 100 and 60% of Fortune 100 companies, make more timely and better business decisions thanks to GlobalData's unique data, expert analysis and innovative solutions, all in one platform. GlobalData's mission is to help our clients decode the future to be more successful and innovative across a range of industries, including the healthcare, consumer, retail, technology, energy, financial and professional services sectors. investing ideas in oil and gas stocks

Like Oil and Gas Stocks? View our Oil and Gas Stocks Directory

Get News Alerts on Energy Stocks

More Info: Newswire

This news is published on the Newswire - a global digital news source for investors and business leaders

Disclaimer/Disclosure: is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: Learn more about publishing your news release on the newswire

Additional info regarding BC Residents and global Investors: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: Global investors must adhere to regulations of each country.

Please read privacy policy: