Power generation technologies market grows, report
September 14, 2017 | By MRO Magazine
The power generation technologies market is expected to grow from an estimated USD 64.15 Billion in 2016 to USD 85.40 Billion by 2021, according to a report produced by B2B research firm, MarketsandMarkets.
The report, “Top 10 Power Generation Technologies Market by Generation (Steam Turbine, Micro Turbine, Gas Turbine, Gas Engine, Micro CHP, Nuclear Power Reactor, Small Wind, Diesel Generator and Gas Generator, and Concentrating Solar Power) – Global Forecast to 2021,” provides insights into which market segments and investments to focus on over the next two to five years.
The diesel and gas generator sales market is the largest segment in the power generation technologies category, according to the report. Factors such as rapid urbanization in developing countries, growing demand for data centers and IT facilities, growth of healthcare infrastructure, and growing demand for uninterrupted and reliable power supply are positively influencing the diesel and gas generator sales market.
In terms of the market, by technology, the gas turbine market held the second largest market size in 2015. Factors such as lower carbon dioxide emissions, efficient generation technology, boom in gas production, and increasing electricity consumption and consequent investments in generation capacity, would necessitate the growth of the market for gas turbines.
To provide an in-depth understanding of the competitive landscape, the report includes the profiles of such companies as:
- Siemens AG (Germany),
- Mitsubishi Heavy Industries, Ltd. (Japan),
- Alstom S.A. (France),
- Ansaldo Energia S.p.A (Italy),
- Caterpillar, Inc. (U.S.),
- Cummins, Inc. (U.S) ,
- Yanmar Co., Ltd. (Japan),
- General Electric Company (U.S.),
- Mitsubishi Hitachi Power Systems (Japan),
- Shanghai Electric Group Co., Ltd. (China).
For more information, visit www.marketsandmarkets.com.l