According to a new market report published by
Lucintel, the future of the steam turbine MRO market looks promising with
opportunities in the coal, gas fired, and nuclear energy based power generation
market. The global steam turbine MRO market is expected to reach an estimated
$31.7 billion by 2023 with a CAGR of 5.6% from 2018 to 2023. The major growth drivers
for this market are increasing thermal power generation capacity in developing
countries and aging fleet of steam turbines.
In this market, maintenance, repair, and
overhaul services are offered by OEMs, Independent Service Providers (ISPs) as
well as done by in-house maintenance department. MRO services provided by OEMs are
expected to remain the largest segment and witness the highest growth during
the forecast period due to long-term service agreements between OEMs and power
producers.
Within the
steam turbine MRO market, coal fired power plant is expected to remain the
largest segment. Lucintel predicts that MRO services for nuclear energy based power
plant is expected to witness the highest growth over the forecast period
supported by its growing installation base.
Asia Pacific is expected to remain the largest
region and witness the highest growth over the forecast period due to increasing fleet of aging turbines and growth
in the commissioning of thermal power plants in the region.
In this market some of the OEMs such as GE, Siemens,
Shanghai Electric, MHI, Harbin Electric, Dongfang Electric, and some of the
ISPs such as Sulzer, Stork Turbo Services and Wood Group are
provider of MRO services.
Lucintel, a leading global strategic
consulting and market research firm, has analyzed the global steam turbine MRO
market by type of service, type of service provider, plant fuel, turbine capacity,
and region, and has compiled a comprehensive research report entitled “Growth
Opportunities in the Global Steam Turbine MRO Market 2018-2023: 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 of the global steam turbine MRO market by type of
service, service provider, plant fuel, turbine capacity, and region as follows:
By Type of Service [Value ($ Billion) from
2012 to 2023]:
- Maintenance
- Repair
- Overhaul
By
Type of Service Provider [Value ($ Billion) from 2012 to 2023]:
- Original Equipment Manufacturers
- Independent Service Providers
- In-House
By
Plant Fuel [Value ($ Billion) from 2012 to 2023]:
- Coal
- Natural Gas
- Nuclear
By
Capacity [Value ($ Billion) from 2012 to 2023]:
- Less than 300 MW
- 300 MW to 599 MW
- 600 MW and Above
By Region [Value ($ Billion) from 2012 to
2023]:
- North America
- Europe
- Asia Pacific
- The Rest of the World
This
144-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 helpdesk@lucintel.com. Lucintel
offerings include energy
market report, energy
industry, commercial due diligence
report, business
strategy consulting and market
research reports online.
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 10 key questions:
Q. 1. How big are the opportunities for the
global steam turbine MRO market in by type of service (maintenance, repair, and
overhaul), service provider (original equipment manufacturers, independent
service providers, in-house), by plant fuel (coal, natural gas, nuclear), by
capacity (less than 300 MW, 300 MW to 599 MW, 600 MW and above) and region
(North America, Europe, Asia Pacific, and the Rest of the World)?
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, challenges, and business risks in this market?
Q.5. What are the business risks and competitive threats in
this market?
Q.6. What are the emerging trends in this market and the reasons
behind them?
Q.7. What are some of the changing demands of customers
in the market?
Q.8. What are the new developments in the market and which
companies are leading these developments?
Q.9. Who are the major players in this market? What
strategic initiatives are being taken by key companies for business growth?
Q.10. What are some of the competing products in this
market and how big of a threat do they pose for loss of market share by product
substitution?
Q. 11. What M&A activity has occurred in the last have
years and what has its impact been on the industry?
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