The latest market research report titled “Steam and Gas Turbines Market Size, Share and Trends Analysis by Regions, Countries, Technology, Installed Capacity, Generation, Key Players and Forecast, 2021-2026” by GlobalData Plc has been recently published. The comprehensive analysis provides valuable insights into the current state and future trends of this thriving industry.
Steam and gas turbines are key components in various sectors, including power generation, oil and gas, and industrial applications. The GlobalData report highlights the steady growth of the market, driven by increasing energy demands and the focus on cleaner and more efficient power generation. The report reveals that the steam and gas turbines market is expected to witness significant growth in the coming years. Factors such as the rise in renewable energy installations, the need for flexible power generation solutions, and advancements in turbine technology are driving the market’s expansion.
Steam and Gas Turbine Market Dynamics
According to the report, the power generation sector dominates the steam and gas turbine market, accounting for the largest share. The demand for electricity, especially in developing economies, is fueling the installation of new power plants and the refurbishment of existing ones.
Additionally, the oil and gas industry is a major consumer of steam and gas turbines. These turbines play a crucial role in various processes, such as natural gas liquefaction and petroleum refining. The increasing exploration and production activities in emerging regions further contribute to the market’s growth.
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Steam and Gas Turbine Market Scope
Steam and Gas Turbines Geographical Outlook (Value, US$ Million, 2017-2026)
- The Americas
- The US
- Republic of Korea
- The UK
- Saudi Arabia
Steam and Gas Turbines Capacity Outlook (Value, US$ Million, 2017-2026)
- Steam turbine
- Gas turbine
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