Press Release

India Steam Turbines Market Estimated to Grow at Formidable Rate Through 2024

Rising environmental concerns and growing demand for power are expected to drive the growth of the steam turbines market in India during forecast period

According to TechSci Research report, India Steam Turbines Market By Type, By Rated Capacity, By Exhaust Type, By Fuel Type, Competition, Forecast & Opportunities, 2024”, India steam turbines market is forecasted to grow at a robust CAGR during the forecast period on account of growing demand for power, increasing investments in electricity generation infrastructure coupled with increasing demand for nuclear energy-based electricity generation. In addition to this, establishment of nuclear sectors in the country is propelling the demand for steam turbines, which is expected to give a healthy push to the growth of India steam turbines market over the coming years. Furthermore, wide acceptance of combined heat & power technology systems (CHP) owing to reduced environmental impacts and increased efficiency is further anticipated to spur the India steam turbines market growth through 2024. However, the factors that might act as major impediments to the market growth over the coming years are regulatory and policy restrictions on fossil-fuel fired power plants.

Browse XX market data Tables and XX Figures spread through XX Pages and an in-depth TOC on " India Steam Turbines Market"

In terms of exhaust type, the India steam turbines market is segmented into condensing and non-condensing. Among them, the condensing steam segment dominated the market until 2018 and is expected to maintain its dominance over the next five years as well which can be attributed to its high efficiency and ability to produce more electricity at comparatively lower operational cost. Based on fuel type, the market is categorized into coal, biomass, nuclear and others. Steam turbines in coal power application are expected to register highest CAGR during the forecast period owing to enough supply of coal to be used as fuel.

Mitsubishi Hitachi Power Systems India Pvt. Ltd, Siemens India, Bharat Heavy Electricals Limited, Man Diesel & Turbo India Pvt Ltd, Alstom Transport India Ltd, Doosan Skoda power Pvt. Ltd., Toshiba India Pvt. Ltd., GE Power India Limited etc. among others are the leading players operating in India steam turbines market.

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“Growing need for the generation of electricity in the country has boosted the demand for steam turbines. The major market players across steam turbine industry are focusing more on various key strategies like product customizations, inorganic growth ventures and development of innovative product ranges to expand their market share, decrease costs, and gain access to new markets, which is estimated to bolster the growth of India steam turbines market through 2024.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

India Steam Turbines Market By Type, By Rated Capacity, By Exhaust Type, By Fuel Type, Competition, Forecast & Opportunities, 2024 has evaluated the future growth potential of India steam turbines market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers to take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in India steam turbines market.


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India Steam Turbines Market Segmented By Type (Steam Cycle and Combined Cycle), By Rated Capacity (1-120 Mw, 121-350 Mw, 351-750 Mw and Above 750 Mw), By Exhaust Type (Condensing and Non-Condensing), By Fuel Type (Coal, Biomass, Nuclear and Others), By Region, and By Competition

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