According to the new market research report “API Steam Turbine- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”, published by QYResearch, the global API Steam Turbine market size is projected to reach USD 3.59 billion by 2030, at a CAGR of 4.0% during the forecast period.
- Global API Steam Turbine MarketSize(US$ Million), 2019-2030
Source: QYResearch, "API Steam Turbine- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”
- Global API Steam Turbine TopPlayers Rankingand Market Share (Ranking is based on the revenue of 2023, continually updated)
Source: QYResearch, "API Steam Turbine- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”
According to QYResearch Top Players Research Center, the global key manufacturers of API Steam Turbine include Siemens, Dongfang Turbine, General Electric, Shanghai Electric, Hangzhou Steam Turbine(HTC), MAN Energy Solutions, Kawasaki Heavy Industries, Mitsubishi Hitachi Power Systems, Elliott , Triveni Turbine, etc. In 2023, the global top five players had a share approximately 56.0% in terms of revenue.
- API Steam Turbine,Global Market Size, Split by Product Segment
Source: QYResearch, "API Steam Turbine- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”
In terms of product type, currently API 612 Special Purpose Turbine is the largest segment, hold a share of 66.4%.
- API Steam Turbine,Global Market Size, Split by ApplicationSegment
Source: QYResearch, "API Steam Turbine- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”
In terms of product application, currently Oil and Gas is the largest segment, hold a share of 37.5%.
Market Drivers:
Growing Demand for Energy: The increasing global demand for energy, driven by industrialization and urbanization, is boosting the need for efficient power generation systems, including API steam turbines.
Restraint:
High Initial Investment: The high initial capital investment required for the installation of steam turbines and associated infrastructure can be a significant barrier, particularly for small and medium-sized enterprises.
Opportunity:
Renewable Energy Integration: The integration of steam turbines with renewable energy sources, such as biomass and concentrated solar power (CSP), presents significant growth opportunities in the quest for sustainable and efficient power generation.
About The Authors
Kang Qi - Lead Author
Email: kangqi@qyresearch.com
Kang Qi is a technology & market senior analyst specializing in industrial equipment. He is engaged in the development of technology and market reports and is also involved in custom projects.
About QYResearch
QYResearch founded in California, USA in 2007. It is a leading global market research and consulting company. With over 17 years’ experience and professional research team in various cities over the world QY Research focuses on management consulting, database and seminar services, IPO consulting, industry chain research and customized research to help our clients in providing non-linear revenue model and make them successful. We are globally recognized for our expansive portfolio of services, good corporate citizenship, and our strong commitment to sustainability. Up to now, we have cooperated with more than 60,000 clients across five continents. Let’s work closely with you and build a bold and better future.
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