Rapid Pace of Industrialization Makes China the World Leader in Global Boilers, Turbines, and Generators Market

Published Date : Mar 29, 2017

ALBANY, New York, March 29, 2017 - MarketResearchReports.biz has recently added a report, titled, “Boilers, Turbines, and Generators (BTG) for Thermal Power - Market Size, Competitive Landscape, Key Country Analysis, and Forecasts to 2020,” to its offering. The report studies the potential of the global market for boilers, turbines, and generators for thermal power by calculating the size of the market and the different growth drivers and restraints impacting it. 

At the forefront of driving growth in the global market for boilers, turbines, and generators for thermal power are the insatiable thirst for power and strong dependency upon the traditional thermal power. However, tough economic conditions in many countries, volatility in fossil fuel prices, fuel diversification, and increasing uptake of renewable sources of energy has made the environment highly challenging for the market. To accomplish climate targets, create electricity reliability, and lessen dependence on coal, nations across the globe are diversifying their energy generation markets, incorporating renewable, nuclear, and hydro sources. They are endeavoring to accomplish a low-carbon economy for a more sustainable economic growth. 

In order to examine the global market for boilers, turbines, and generators for thermal power, the report broadly segments it into three main geographical regions. They are the Americas, Asia Pacific, and Europe. The main market in the Americas is the U.S. Powering the Asia Pacific market are the countries of India, Indonesia, China, Vietnam, Republic of Korea, Thailand, Malaysia, and Philippines. 

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Among them, China is said to be leading the global market for BTG equipment on account of its heavy dependence thermal power generation. This in turn has resulted from the vigorous pace of economic growth in the past decade leading to high demand for electricity, particularly from the industrial sector. In the near future, however, China will likely pare some of its market share owing to the shift towards renewable sources of power. Nonetheless, it would retain its leading position, predict experts. Market conditions will also become tougher in Europe because of stringent rules framed by authorities to promote cleaner energy. 

After providing a qualitative reports of the drivers and restraints in each of the regions and their market shares, the report goes on to furnish information on the major partners and the scope for business development. It does so by examining the major competitors – both international and regional – in the global market for boilers, turbines, and generators for thermal power. This would enable savvy players in the market to frame strategies, factoring in their competitors’ strengths and weaknesses. 

The report has been compiled after extensive primary and secondary research. While primary research entailed gathering valuable inputs from industry experts, secondary research involved collecting data and relevant information from different paid and unpaid sources. 

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