Global Turbine Motor Market Size study & Forecast, by Phase (Single Phase, Three Phase), by Application (Wind Turbine, Gas Turbine, Steam Turbine, Water Turbine) and Regional Analysis, 2023-2030
Global Turbine Motor Market is valued at approximately USD 2.35 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 6.80% over the forecast period 2023-2030. A turbine motor is a mechanical device that transfers mechanical energy from a moving fluid into electrical energy. Turbine motors come in four different varieties: gas turbine, steam turbine, water turbine, and wind turbine. Turbine motors are utilized in a variety of end-use verticals, including the petrochemical, oil & gas, and power generation industries. Turbine motors are also referred to as turbine generators. Usually, these motors are utilized to generate power. They frequently alter for various power generation purposes. They are often used in gas turbines, wind turbines, and power plants. The Turbine Motor market is expanding because of factors such as an increase in demand for renewable and sustainable energy sources, government initiatives to explore alternative sources of energy and the rising development of energy power plants.
Turbine motors are deployed in oil drilling and oil and gas plants operation. According to The International European Agency report 2020, predicts that the capacity of renewable energy worldwide would increase by more than 60% from 2020 levels to over 4 800 GW by the year 2026. These increasing capacities revealed a growing need to produce electricity from renewable sources, which led to market expansion. Additionally, increasing government investment in the construction of power plants is promoting market expansion. The Energy Information Administration, for instance Around 32.3 GW of brand-new natural gas-fired power plants were under construction in the US as of 2021, with an anticipated 2025 start-up date. 14.2 GW of them are now under construction, 3.4 GW are in the pre-construction phase, and 14.7 GW are in the advanced permitting phase. In addition, rising technological advancements and rising initiatives for promoting the use of steam turbine are creating new opportunities for market growth. However, the high cost of Turbine Motor stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Turbine Motor Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to growing government investments in the sector, as well as the rising use of renewable energy sources and the construction of power plants. Asia Pacific is anticipated to grow significantly during the projection period. due to factors such as increasing renewable energy usage, expanding development of new power plants, and active government involvement in the marketplace.
Major market player included in this report are:
Andritz AG
Canyon Industries Inc.
General Electric Company
Gilbert Gilkes & Gordon Ltd.
Kirloskar Brothers Ltd.
Litostroj Power Group
Norcan Hydraulic Turbine Inc.
Siemens AG
Toshiba Corporation
Voith Gmbh & Co.
Recent Developments in the Market:
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Phase:
Single Phase
Three Phase
By Application:
Wind Turbine
Gas Turbine
Steam Turbine
Water Turbine
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa
Turbine motors are deployed in oil drilling and oil and gas plants operation. According to The International European Agency report 2020, predicts that the capacity of renewable energy worldwide would increase by more than 60% from 2020 levels to over 4 800 GW by the year 2026. These increasing capacities revealed a growing need to produce electricity from renewable sources, which led to market expansion. Additionally, increasing government investment in the construction of power plants is promoting market expansion. The Energy Information Administration, for instance Around 32.3 GW of brand-new natural gas-fired power plants were under construction in the US as of 2021, with an anticipated 2025 start-up date. 14.2 GW of them are now under construction, 3.4 GW are in the pre-construction phase, and 14.7 GW are in the advanced permitting phase. In addition, rising technological advancements and rising initiatives for promoting the use of steam turbine are creating new opportunities for market growth. However, the high cost of Turbine Motor stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Turbine Motor Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to growing government investments in the sector, as well as the rising use of renewable energy sources and the construction of power plants. Asia Pacific is anticipated to grow significantly during the projection period. due to factors such as increasing renewable energy usage, expanding development of new power plants, and active government involvement in the marketplace.
Major market player included in this report are:
Andritz AG
Canyon Industries Inc.
General Electric Company
Gilbert Gilkes & Gordon Ltd.
Kirloskar Brothers Ltd.
Litostroj Power Group
Norcan Hydraulic Turbine Inc.
Siemens AG
Toshiba Corporation
Voith Gmbh & Co.
Recent Developments in the Market:
- In January 2021, Mainstream Energy Solution granted Andritz AG an order for the modernization of one generation unit at the Jebba hydroelectric power project on the Niger River. It is anticipated to be operational by 2023.
- Historical Data – 2020 - 2021
- Base Year for Estimation – 2022
- Forecast period - 2023-2030
- Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered – Phase, Application, Region
- Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope - Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Phase:
Single Phase
Three Phase
By Application:
Wind Turbine
Gas Turbine
Steam Turbine
Water Turbine
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa
CHAPTER 1. EXECUTIVE SUMMARY
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Turbine Motor Market, by Region, 2020-2030 (USD Billion)
1.2.2. Turbine Motor Market, by Phase, 2020-2030 (USD Billion)
1.2.3. Turbine Motor Market, by Application, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
CHAPTER 2. GLOBAL TURBINE MOTOR MARKET DEFINITION AND SCOPE
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
CHAPTER 3. GLOBAL TURBINE MOTOR MARKET DYNAMICS
3.1. Turbine Motor Market Impact Analysis (2020-2030)
3.1.1. Market Drivers
3.1.1.1. Increase in demand for renewable and sustainable energy sources
3.1.1.2. Government initiative to explore alternative sources of energy
3.1.1.3. Rising development of energy power plants
3.1.2. Market Challenges
3.1.2.1. High Cost of Turbine Motor
3.1.3. Market Opportunities
3.1.3.1. Rising technological advancements
3.1.3.2. Rising initiatives for promoting the use of steam turbine
CHAPTER 4. GLOBAL TURBINE MOTOR MARKET INDUSTRY ANALYSIS
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
CHAPTER 5. GLOBAL TURBINE MOTOR MARKET, BY PHASE
5.1. Market Snapshot
5.2. Global Turbine Motor Market by Phase, Performance - Potential Analysis
5.3. Global Turbine Motor Market Estimates & Forecasts by Phase 2020-2030 (USD Billion)
5.4. Turbine Motor Market, Sub Segment Analysis
5.4.1. Single Phase
5.4.2. Three Phase
CHAPTER 6. GLOBAL TURBINE MOTOR MARKET, BY APPLICATION
6.1. Market Snapshot
6.2. Global Turbine Motor Market by Application, Performance - Potential Analysis
6.3. Global Turbine Motor Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
6.4. Turbine Motor Market, Sub Segment Analysis
6.4.1. Wind Turbine
6.4.2. Gas Turbine
6.4.3. Steam Turbine
6.4.4. Water Turbine
CHAPTER 7. GLOBAL TURBINE MOTOR MARKET, REGIONAL ANALYSIS
7.1. Top Leading Countries
7.2. Top Emerging Countries
7.3. Turbine Motor Market, Regional Market Snapshot
7.4. North America Turbine Motor Market
7.4.1. U.S. Turbine Motor Market
7.4.1.1. Phase breakdown estimates & forecasts, 2020-2030
7.4.1.2. Application breakdown estimates & forecasts, 2020-2030
7.4.2. Canada Turbine Motor Market
7.5. Europe Turbine Motor Market Snapshot
7.5.1. U.K. Turbine Motor Market
7.5.2. Germany Turbine Motor Market
7.5.3. France Turbine Motor Market
7.5.4. Spain Turbine Motor Market
7.5.5. Italy Turbine Motor Market
7.5.6. Rest of Europe Turbine Motor Market
7.6. Asia-Pacific Turbine Motor Market Snapshot
7.6.1. China Turbine Motor Market
7.6.2. India Turbine Motor Market
7.6.3. Japan Turbine Motor Market
7.6.4. Australia Turbine Motor Market
7.6.5. South Korea Turbine Motor Market
7.6.6. Rest of Asia Pacific Turbine Motor Market
7.7. Latin America Turbine Motor Market Snapshot
7.7.1. Brazil Turbine Motor Market
7.7.2. Mexico Turbine Motor Market
7.8. Middle East & Africa Turbine Motor Market
7.8.1. Saudi Arabia Turbine Motor Market
7.8.2. South Africa Turbine Motor Market
7.8.3. Rest of Middle East & Africa Turbine Motor Market
CHAPTER 8. COMPETITIVE INTELLIGENCE
8.1. Key Company SWOT Analysis
8.1.1. Company
8.1.2. Company
8.1.3. Company
8.2. Top Market Strategies
8.3. Company Profiles
8.3.1. Andritz AG
8.3.1.1. Key Information
8.3.1.2. Overview
8.3.1.3. Financial (Subject to Data Availability)
8.3.1.4. Product Summary
8.3.1.5. Recent Developments
8.3.2. Canyon Industries Inc.
8.3.3. General Electric Company
8.3.4. Gilbert Gilkes & Gordon Ltd.
8.3.5. Kirloskar Brothers Ltd.
8.3.6. Litostroj Power Group
8.3.7. Norcan Hydraulic Turbine Inc.
8.3.8. Siemens AG
8.3.9. Toshiba Corporation
8.3.10. Voith Gmbh & Co.
CHAPTER 9. RESEARCH PROCESS
9.1. Research Process
9.1.1. Data Mining
9.1.2. Analysis
9.1.3. Market Estimation
9.1.4. Validation
9.1.5. Publishing
9.2. Research Attributes
9.3. Research Assumption
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Turbine Motor Market, by Region, 2020-2030 (USD Billion)
1.2.2. Turbine Motor Market, by Phase, 2020-2030 (USD Billion)
1.2.3. Turbine Motor Market, by Application, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
CHAPTER 2. GLOBAL TURBINE MOTOR MARKET DEFINITION AND SCOPE
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
CHAPTER 3. GLOBAL TURBINE MOTOR MARKET DYNAMICS
3.1. Turbine Motor Market Impact Analysis (2020-2030)
3.1.1. Market Drivers
3.1.1.1. Increase in demand for renewable and sustainable energy sources
3.1.1.2. Government initiative to explore alternative sources of energy
3.1.1.3. Rising development of energy power plants
3.1.2. Market Challenges
3.1.2.1. High Cost of Turbine Motor
3.1.3. Market Opportunities
3.1.3.1. Rising technological advancements
3.1.3.2. Rising initiatives for promoting the use of steam turbine
CHAPTER 4. GLOBAL TURBINE MOTOR MARKET INDUSTRY ANALYSIS
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
CHAPTER 5. GLOBAL TURBINE MOTOR MARKET, BY PHASE
5.1. Market Snapshot
5.2. Global Turbine Motor Market by Phase, Performance - Potential Analysis
5.3. Global Turbine Motor Market Estimates & Forecasts by Phase 2020-2030 (USD Billion)
5.4. Turbine Motor Market, Sub Segment Analysis
5.4.1. Single Phase
5.4.2. Three Phase
CHAPTER 6. GLOBAL TURBINE MOTOR MARKET, BY APPLICATION
6.1. Market Snapshot
6.2. Global Turbine Motor Market by Application, Performance - Potential Analysis
6.3. Global Turbine Motor Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
6.4. Turbine Motor Market, Sub Segment Analysis
6.4.1. Wind Turbine
6.4.2. Gas Turbine
6.4.3. Steam Turbine
6.4.4. Water Turbine
CHAPTER 7. GLOBAL TURBINE MOTOR MARKET, REGIONAL ANALYSIS
7.1. Top Leading Countries
7.2. Top Emerging Countries
7.3. Turbine Motor Market, Regional Market Snapshot
7.4. North America Turbine Motor Market
7.4.1. U.S. Turbine Motor Market
7.4.1.1. Phase breakdown estimates & forecasts, 2020-2030
7.4.1.2. Application breakdown estimates & forecasts, 2020-2030
7.4.2. Canada Turbine Motor Market
7.5. Europe Turbine Motor Market Snapshot
7.5.1. U.K. Turbine Motor Market
7.5.2. Germany Turbine Motor Market
7.5.3. France Turbine Motor Market
7.5.4. Spain Turbine Motor Market
7.5.5. Italy Turbine Motor Market
7.5.6. Rest of Europe Turbine Motor Market
7.6. Asia-Pacific Turbine Motor Market Snapshot
7.6.1. China Turbine Motor Market
7.6.2. India Turbine Motor Market
7.6.3. Japan Turbine Motor Market
7.6.4. Australia Turbine Motor Market
7.6.5. South Korea Turbine Motor Market
7.6.6. Rest of Asia Pacific Turbine Motor Market
7.7. Latin America Turbine Motor Market Snapshot
7.7.1. Brazil Turbine Motor Market
7.7.2. Mexico Turbine Motor Market
7.8. Middle East & Africa Turbine Motor Market
7.8.1. Saudi Arabia Turbine Motor Market
7.8.2. South Africa Turbine Motor Market
7.8.3. Rest of Middle East & Africa Turbine Motor Market
CHAPTER 8. COMPETITIVE INTELLIGENCE
8.1. Key Company SWOT Analysis
8.1.1. Company
8.1.2. Company
8.1.3. Company
8.2. Top Market Strategies
8.3. Company Profiles
8.3.1. Andritz AG
8.3.1.1. Key Information
8.3.1.2. Overview
8.3.1.3. Financial (Subject to Data Availability)
8.3.1.4. Product Summary
8.3.1.5. Recent Developments
8.3.2. Canyon Industries Inc.
8.3.3. General Electric Company
8.3.4. Gilbert Gilkes & Gordon Ltd.
8.3.5. Kirloskar Brothers Ltd.
8.3.6. Litostroj Power Group
8.3.7. Norcan Hydraulic Turbine Inc.
8.3.8. Siemens AG
8.3.9. Toshiba Corporation
8.3.10. Voith Gmbh & Co.
CHAPTER 9. RESEARCH PROCESS
9.1. Research Process
9.1.1. Data Mining
9.1.2. Analysis
9.1.3. Market Estimation
9.1.4. Validation
9.1.5. Publishing
9.2. Research Attributes
9.3. Research Assumption
