市场调查报告书
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全球涡轮机市场评估:按类型、功率范围、最终用途产业、地区、机会、预测(2017-2031)Turbines Market Assessment, By Type, By Power Range, By End-user Industry, By Region, Opportunities and Forecast, 2017-2031F |
全球涡轮机市场规模预计到2023年将达到997亿美元,到2031年将达到1,389.9亿美元,2024-2031年预测期间复合年增长率为4.24%。
能源需求的增加、涡轮机技术的进步以及世界向永续能源的转变推动了涡轮机的普及。市场成长的驱动因素包括增加对电力基础设施的投资、更加关注清洁能源解决方案以及航空航太业的持续扩张。
由于多种因素,对涡轮机的投资正在增加。不断增长的能源需求和向永续实践的转变正在推动涡轮机技术的资金增加。世界各国政府都在激励清洁能源并鼓励对风力和水力涡轮机的投资。此外,涡轮机效率和可靠性的提高也有助于增强投资者的信心。此外,航空航太和海运业的扩张刺激了对燃气涡轮机的需求。这些综合因素正在推动投资激增,并将涡轮机定位为各行业的关键零件。
风力涡轮机的出现彻底改变了发电产业,并显着推动了市场成长。这种转变的推动因素包括风电成本下降、风力涡轮机製造商之间的竞争加剧、环境问题的增加推动向再生能源的转变,以及提高涡轮机效率和输出的技术进步。由于这些驱动因素,风力涡轮机比传统的基于化石燃料的发电方法变得更具成本效益,使其成为对能源生产商和消费者都有吸引力的选择。
燃气涡轮机的广泛使用刺激了全球涡轮机市场的显着成长。这种扩张是由于对高效、可靠的发电解决方案的需求不断增长、对天然气优于传统化石燃料的严格环境法规以及提高涡轮机性能和减少排放的技术进步而推动的,这是由多种因素造成的。因此,燃气涡轮机在各种发电应用中变得越来越受欢迎,包括联合循环发电厂、工业发电系统以及石油和天然气处理设施。
涡轮机在石油和天然气行业中发挥着至关重要的作用,为各种流程和任务提供动力。不断增长的能源需求正在推动石油和天然气的勘探和生产,导致对涡轮机为这些过程提供动力的需求增加。此外,严格的环境法规的执行刺激了更有效率、更清洁的涡轮机技术的发展,使涡轮机成为石油和天然气公司的首选。
由于工业化和基础设施发展等多种因素,亚太地区正在引领全球涡轮机市场。这些因素导致电力需求激增以及对新发电厂的需求增加。此外,中国和印度等许多亚太国家的政府政策鼓励使用再生能源,例如基于涡轮机的风能和太阳能。由于这些因素,亚太地区已成为全球最大的涡轮机市场,占全球涡轮机销售量的50%以上。
政府举措正在对全球涡轮机市场产生重大影响。这些措施透过提供财务诱因、投资研发以及简化监管流程,有助于加速涡轮机的使用。因此,全球涡轮机市场近年来呈现快速成长,预计未来将持续成长。
在 COVID-19 大流行之前,全球涡轮机市场相对稳定。对可靠、高效发电的需求以及再生能源的日益普及推动了对涡轮机的需求。市场得到了政府促进再生能源使用和能源效率政策的支持。然而,COVID-19 大流行的出现对全球涡轮机市场产生了重大影响。由于供应链中断以及旅行限制限制了工人和设备的流动,疫情的最初衝击波导致 2020 年涡轮机安装量下降。然而,随着各国政府实施经济刺激计画以及再生能源需求强劲成长,疫情后市场开始復苏。儘管面临这些挑战,但由于向再生能源的过渡以及对高效可靠电源的需求不断增加,市场的长期前景仍然乐观。
本报告研究和分析了全球涡轮机市场,提供市场规模和预测、市场动态以及主要参与者的现状和前景。
Global turbines market size was valued at USD 99.7 billion in 2023, which is expected to reach USD 138.99 billion in 2031, with a CAGR of 4.24% for the forecasted period between 2024 and 2031.
Turbines offer efficient energy conversion, crucial in power generation, aerospace, and renewables like wind and hydropower. Turbines are pivotal in addressing energy needs and reducing the overall environmental impact, connecting them to diverse sectors and the evolving energy landscape. The widespread use of turbines is propelled by the increasing energy demand, advancements in turbine technology, and a global shift towards sustainable energy sources. The factors driving the market growth include the rise in investments in power infrastructure, a prominent focus on cleaner energy solutions, and the continuously expanding aerospace industry.
Investments in turbines are on the rise due to several factors. Growing energy demand and a shift towards sustainable practices prompt increased funding in turbine technologies. Governments worldwide are incentivizing clean energy and fostering investment in wind and hydropower turbines. Moreover, advancements in turbine efficiency and reliability contribute to an improvement in the confidence of the investor. Additionally, the expanding aerospace and marine industries are fueling the demand for gas turbines. These combined factors drive a surge in investments, positioning turbines as key components in diverse sectors.
The emergence of wind turbines is revolutionizing the power generation industry, thereby driving market growth significantly. The transformation stems from several factors, including the declining cost of wind power, intensifying competition among wind turbine manufacturers, growing environmental concerns prompting a shift towards renewable energy sources, and technological advancements that enhance turbine efficiency and output. As a result of these driving forces, wind turbines are becoming increasingly cost-efficient with traditional fossil fuel-based power generation methods, making them a more attractive option for both energy producers and consumers.
In May 2023, GE Vernova announced its plan to invest USD 50 million in its Schenectady, New York facility to capitalize on the flourishing wind energy market in North America. This investment would enable the production of critical components for GE Vernova's 6.1 MW wind turbine, specifically the machine head, hub, and drive train.
The widespread adoption of gas turbines is fueling significant growth in the global turbine market. This expansion is driven by a plethora of factors, including the increasing demand for efficient and reliable power generation solutions, stringent environmental regulations favoring natural gas over conventional fossil fuels, and technological advancements that enhance turbine performance and reduce emissions. As a result, gas turbines are becoming increasingly prevalent in various power generation applications, including combined cycle power plants, industrial power generation systems, and oil and gas processing facilities.
In October 2023, Mitsubishi Power Americas collaborated with the Grand River Dam Authority to install the first M501JAC gas turbine in the United States for peak applications. The advanced-class turbine is expected to replace the last remaining coal-fired unit at the Grand River Energy Center, enhancing operational flexibility and grid stability.
Turbines play a pivotal role in the oil and gas industries, driving various processes and operations. Growing demand for energy is driving the exploration and production of oil and gas, consequently increasing the need for turbines to power these processes. Also, the implementation of strict environmental regulations has stimulated the development of more efficient and cleaner turbine technologies, making them a top choice for oil and gas companies.
In October 2023, Oil and Natural Gas Corporation (ONGC) hosted a roadshow at Hotel Le Royal Meridien in Abu Dhabi to seek partnerships with global oil and gas companies for offshore oil and gas projects in India. The roadshow would provide valuable insights into business opportunities within India's offshore oil and gas infrastructure sector. ONGC, aligning with the changing energy landscape, has outlined its ambitious Energy Strategy 2040. This plan emphasizes ONGC's commitment to double oil and gas production.
Asia-Pacific led the global turbines market due to several factors, including industrialization and infrastructure development. These factors led to a surge in electricity demand, which in turn drove the demand for new power plants. Furthermore, government policies in many Asia-Pacific countries, like China and India, promoted the use of renewable energy sources, such as wind and solar power that utilize turbines. As a result of these factors, Asia-Pacific became the world's largest turbine market, accounting for more than 50% of global turbine sales.
In November 2023, Goldwind achieved a remarkable feat by installing its massive 16 MW offshore wind turbine in a record-breaking 24 hours.
Government initiatives have had a significant impact on the global turbines market. These initiatives have helped promote turbines' use by providing financial incentives, investing in research and development, and streamlining regulatory processes. As a result, the global turbines market has grown rapidly in recent years and is expected to continue its growth over the years to come.
In May 2022, GE Steam Power secured a USD 165 million contract with BHEL to provide three nuclear steam turbines for NPCIL's Phase 1 domestic nuclear program, which is being built in Gorakhpur, Haryana (units 1 to 4 (GHAVP)) and Kaiga, Karnataka (Kaiga-5&6). The program involves the construction of 12 units of 700 MWe using NPCIL's own Pressurized Heavy Water Reactors (PHWR) nuclear reactor technology. It would provide India with 8.4GW of carbon-free electricity, to power over 14 million homes.
The global turbines market was relatively stable before the COVID-19 pandemic. Demand for turbines was driven by the need for reliable and efficient power generation, as well as the growing popularity of renewable energy sources. The market was supported by government policies that promoted the use of renewable energy and energy efficiency. However, the advent of the COVID-19 pandemic had a significant impact on the global turbines market. The pandemic's initial shockwave led to a decline in turbine installations in 2020, as supply chains were disrupted, and travel restrictions limited the movement of workers and equipment. However, the market is beginning to recover after the pandemic as governments are implementing stimulus measures and demand for renewable energy is rising at an extensive rate. Despite these challenges, the long-term outlook for the market remains positive, driven by the transition to renewable energy and increasing demand for efficient and reliable power sources.
The ongoing Russia-Ukraine war had a significant impact on the global turbines market, disrupting supply chains, increasing energy prices, and prompting a shift towards renewable energy sources. The war led to sanctions on Russia, which is one of the world's largest exporters of natural gas, causing energy prices to soar and forcing the European countries to seek alternative energy sources.
It in turn, has created ample opportunities for the turbine market, as countries are increasingly turning to renewable energy sources such as wind and solar power to reduce their reliance on fossil fuels. Moreover, the war has disrupted supply chains for turbines and other energy equipment, which has led to delays in project development and increased costs. Despite these challenges, the long-term outlook for the global turbines market remain positive, as the transition to renewable energy is expected to continue in the years to come.
The turbine industry is experiencing a surge in innovation as major players pour resources into wind, steam, and gas turbine development. These companies are actively pursuing acquisitions, partnerships, and collaborations to expand their market presence and drive profitability. Moreover, this dynamic environment is fostering rapid advancements and accelerating the overall growth of the turbine industry.
In September 2023, through a minority stake investment in WindESCo, ABB gained access to the company's cutting-edge asset performance monitoring software and wake optimization solution. This partnership will enable ABB to offer a complete wind energy solution to its customers, encompassing both hardware and software components.
In July 2023, BHEL and GE Vernova extended their long-standing partnership to manufacture heavy-duty gas turbines. The collaboration would enhance BHEL's ability to provide advanced gas turbine technology and meet the power plant demands of its customers.
All segments will be provided for all regions and countries covered
Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.