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
NEW YORK, Nov. 1, 2018 /PRNewswire/ -- Trends, opportunities and forecast in steam turbine MRO market to 2023 by resin type (fluoropolymer, cyanate ester, cyclic olefin copolymer, m-PPE, polyimide, PET, and others), application (PCB, wire & cable, antenna, microelectronics, radome, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)
Read the full report: https://www.reportlinker.com/p05606236
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 $31.7 billion by 2023 with a CAGR of 5.6% from 2018 to 2023. The major growth drivers for this market are increasing thermal power generation capacity in developing countries and aging fleet of steam turbines.
In this market, maintenance, repair, and overhaul services are offered by OEMs, Independent Service Providers (ISPs) as well as done by in-house maintenance department. MRO services provided by OEMs are expected to remain the largest segment and witness the highest growth during the forecast period due to long-term service agreements between OEMs and power producers.
The study includes the steam turbine MRO market size and forecast of the global steam turbine MRO market through 2023, segmented by type of service, service provider, plant fuel, turbine capacity, and region as follows:
Steam Turbine MRO Market by Type of Service [Value ($ Billion) from 2012 to 2023]:
Maintenance Repair Overhaul
Steam Turbine MRO Market by Type of Service Provider [Value ($ Billion) from 2012 to 2023]:
Original Equipment Manufacturers Independent Service Providers In-House
Steam Turbine MRO Market by Plant Fuel [Value ($ Billion) from 2012 to 2023]:
Coal Natural Gas Nuclear
Steam Turbine MRO Market by Capacity [Value ($ Billion) from 2012 to 2023]:
Less than 300 MW 300 MW to 599 MW 600 MW and Above
Steam Turbine MRO Market by Region [Value ($ Billion) from 2012 to 2023]:
North America Europe Asia Pacific The Rest of the World
Some of the steam turbine MRO OEMs profiled in this report include GE, Siemens, Shanghai Electric, MHI, Harbin Electric, Dongfang Electric, and some of the ISPs such as Sulzer, Stork Turbo Services and Wood Group and others.
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.
Some of the features of "Steam Turbine MRO Market Report: Trends, Forecast and Competitive Analysis" include:
Market size estimates: Global steam turbine MRO market size estimation in terms of value ($B) shipment.
Trend and forecast analysis: Market trend (2012-2017) and forecast (2018-2023) by application, and end use industry.
Segmentation analysis: Global steam turbine MRO market size by various applications such as type of service, service provider, plant fuel, and turbine capacity in terms of value and volume shipment.
Regional analysis: Global steam turbine MRO market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
Growth opportunities: Analysis on growth opportunities in different applications and regions of steam turbine MRO in the global steam turbine MRO market.
Strategic analysis: This includes M&A, new product development, and competitive landscape of steam turbine MRO in the global steam turbine MRO market. Analysis of competitive intensity of the industry based on Porter's Five Forces model.
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.2. Which region will grow at a faster pace and why?
Q.3. What are the key factors affecting market dynamics? What are the drivers, challenges, and business risks in this steam turbine MRO market?
Q.4. What are the business risks and competitive threats in this steam turbine MRO market?
Q.5. What are the emerging trends in this market and the reasons behind them?
Q.6. What are some of the changing demands of customers in the steam turbine MRO market?
Q.7. What are the new developments in the steam turbine MRO market and which companies are leading these developments?
Q.8. Who are the major players in this steam turbine MRO market? What strategic initiatives are being taken by key companies for business growth?
Q.9. What are some of the competing products in this steam turbine MRO market and how big of a threat do they pose for loss of market share by product substitution?
Q.10. What M&A activity has occurred in the last have years and what has its impact been on the steam turbine MRO industry?
Read the full report: https://www.reportlinker.com/p05606236
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