Rise in need of continuous & stable power supply, rapid industrialization & urbanization, and increase in growth in gas power plants drive the growth of the global turbo generator market. The market across Asia-Pacific held the largest share in 2019, contributing to around three-fourths of the market. The outbreak of Covid-19 resulted in temporary ban on import-export and disrupted the supply chain.
Portland, OR, Nov. 25, 2020 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global turbo generator market was pegged at $10.4 billion in 2019, and is projected to reach $12.6 billion by 2027, growing at a CAGR of 3.1% from 2020 to 2027.
Rise in need of continuous & stable power supply, rapid industrialization & urbanization, and increase in number of gas power plants drive the growth of the global turbo generator market. However, development in the renewable energy sector and implementation of stringent government regulations toward environmental pollution hamper the market growth. On the contrary, surge in investment on electrification of remote & rural area open new opportunities for the market players in the future.
Download Sample PDF (250 Pages with More Insight): https://www.alliedmarketresearch.com/request-sample/7934
The outbreak of Covid-19 resulted in a temporary ban on import-export and disrupted the supply chain.
Since the pandemic, the demand for electricity decreased as several industries temporarily closed their manufacturing factories.
However, the demand for electricity is increasing due to government’s declaration to resume power generation, which is expected to get the market back on track.
The global turbo generator market is segmented on the basis of type, cooling system, end user, and geography. Based on type, the market is divided into gas turbine generator, steam turbine generator, and water turbine generator. The gas turbine generator segment dominated the market in 2019, accounting for around three-fifths of the market. However, the steam turbine generator segment is expected to reach 3.3% during the forecast period.
Get detailed COVID-19 impact analysis on the Turbo Generator Market: https://www.alliedmarketresearch.com/request-for-customization/7934?reqfor=covid
On the basis of cooling system, the market is categorized into air-cooled, water-cooled, and hydrogen-cooled. The air-cooled system segment held the largest share in 2019, accounting for nearly three-fifths of the market. Moreover, the segment is estimated to manifest the highest CAGR of 3.3% during the forecast period.
The global turbo generator market is analyzed across various regions such as North America, Europe, Asia-Pacific, and region. The market across Asia-Pacific held the largest share in 2019, contributing to around three-fourths of the market. In addition, the region is expected to register the highest CAGR of 3.2% during the forecast period.
The global turbo generator market report includes an in-depth analysis of the major market players such as Andritz AG, Bharat Heavy Electrical Limited, Ansaldo Energia S.p.A., Ebara Corporation, Beijing BEIZHONG Steam Turbine Generator Co., Ltd., Mitsubishi Heavy Industries, Ltd., General Electric, Suzlon Energy Ltd., Siemens AG, and Toshiba Corporation.
Make Purchase Report Enquiry Here: https://www.alliedmarketresearch.com/purchase-enquiry/7934
Avenue Basic Plan | Library Access | 1 Year Subscription |
Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.
Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter
Get more information: https://www.alliedmarketresearch.com/library-access
(Pre-Book Now with 12% Discount)
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
Toll Free (USA/Canada): +1-800-792-5285, +1-503-446-1141
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Follow Us on LinkedIn: https://www.linkedin.com/company/allied-market-research/