According to
a new market report published by Lucintel, the future of the steam turbine MRO
market looks good with opportunities in maintenance, repair and overhaul
segment. The global steam turbine MRO market
is forecast to grow at a CAGR of
8.7% from 2016 to 2021. The
major drivers for the growth of this market are increasing
age of operating steam turbines and installation of new steam turbines,
especially in the APAC region.
In this
market, there are mainly three services practiced, i.e. maintenance, repair, and
overhaul. On the basis of
comprehensive research, Lucintel forecasts that the maintenance and overhaul segments
of the steam turbine MRO market are expected to show above average growth rate during
the forecast period.
Within the steam turbine MRO market, the maintenance
service is expected to remain the largest segment. Increasing
concern by steam turbine owners for maintaining the turbine efficiency and to
reduce the risk of turbine breakdown as much as possible are the major driving forces, which would spur growth for this segment
over the forecast period.
APAC is
expected to remain the largest market and is likely to witness the highest
growth rate during the forecast period due to increasing fleet of ageing
turbines
and installation of new steam turbines.
For market
expansion, this report suggests establishment of collaboration and ventures to
increase customer proximity.
Emerging
trends in the global steam turbine MRO market, which have a direct impact on
the dynamics of the industry, include growing interest of steam turbine OEMs to
service the equipment of other OEMs and collaboration activities by competitors
to gain access to APAC market. Shanghai Electric, Harbin Electric, Dongfang
Electric, Siemens, Mitsubishi Heavy Industries, and BHEL are
among the major competitors of steam turbine MRO market.
Lucintel, a
leading global strategic consulting and market research firm, has analyzed growth opportunities for the global
steam turbine MRO market by type of service and region and has come up with a
comprehensive research report, “Growth
Opportunities in the Global Steam Turbine MRO Market 2016-2021: Trends,
Forecast, and Opportunity Analysis.” The
Lucintel report serves as a spring board for growth strategy as it provides a
comprehensive data and analysis on trends, key drivers, and directions. The
study includes a forecast for the global steam turbine MRO market by type of
service and region as follows:
By type of service (Value ($B) analysis from
2010 to 2021):
·
Maintenance
·
Repair
·
Overhaul
By region (Value
($B) from 2010 to 2021):
· North America
· Europe
· APAC
· ROW
This 105-page research report will enable you
to make confident business decisions in this globally competitive marketplace.
For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click
on this link http://www.lucintel.com/steam_turbine_mro_market_2016-_2021.aspx or
helpdesk@lucintel.com. Lucintel offerings include Energy
Market Report, Energy
Industry, Strategic
Growth Consulting, Commercial Due Diligence
Report and Business
Strategy Consulting.
About
Lucintel
Lucintel, the premier global management
consulting and market research firm, creates winning strategies for growth. It
offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due
diligence services to executives and key decision-makers in a variety of
industries. For further information, visit www.lucintel.com.
This report answers following 11 key
questions:
Q. 1.
What are some of the most promising, high-growth opportunities for global steam
turbine MRO market by type of service and regions?
Q.
2. Which product / segments will grow at
a faster pace and why?
Q.
3. Which region will grow at a faster
pace and why?
Q. 4.
What are the key factors affecting market dynamics? What are the drivers and
challenges of the market?
Q.
5. What are the business risks and threats to this market?
Q. 6.
What are the emerging trends in the Steam Turbine MRO market and reasons behind
them?
Q. 7.
What are some changing demands of customers in the market?
Q. 8.
What are the new developments in the market? Which companies are leading these
developments?
Q. 9.
Who are the major players in this market? What strategic initiatives are being
implemented by key players for business growth?
Q. 10.
How are the competitive rivalry and threat of substitution in this market?
Q. 11.
What are M&A activities in the last 5 years in this market? What reasons to
these activities and how have they impacted the industry?
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