Turbine Motors Market Is Expected to Reach $422.2 Billion by 2030: Says AMR

2021-08-05

Portland, OR, Aug. 05, 2021 (GLOBE NEWSWIRE) -- According to the report, the global turbine motors market generated $194.1 billion in 2020, and is expected to generate $422.2 billion by 2030, witnessing a CAGR of 8.1% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends. Rise in demand for renewable and sustainable energy sources, replacement of fossil fuel power plants, reduction in fossil-based energy generation, and technological advancements drive the growth of the global turbine motors market. However, high initial installation cost and location constraints hinder the market growth. On the other hand, supportive government initiatives and subsidies, promotion of the steam turbine usage, and less lead time for the planning and construction of wind power projects present new opportunities in the coming years. Download Report Sample (465 Pages PDF with Insights) @ Covid-19 Scenario The global turbine motors market is analyzed across type, capacity, application, and region. Based on type, the wind turbine segment generated the major share in 2020, holding nearly three-fifths of the global turbine motors market, and is projected to retain the lion’s share during the forecast period. Nevertheless, the water turbine segment is expected to cite the fastest CAGR of 9.1% from 2021 to 2030. Get detailed COVID-19 impact analysis on the Turbine Motors Market Request Here By application, the industrial segment accounted for the highest share in 2020, holding nearly two-fifths of the global turbine motors market, and is expected to lead the trail by 2030. At the same time, the residential segment is projected to register the fastest CAGR of 8.7% from 2021 to 2030. By region, the market across Europe held the major share in 2020, generating more than one-third of the global turbine motors market. Simultaneously, Asia-Pacific is expected to grow at the fastest CAGR of 9.1% during the forecast period. The other provinces studied in the report include North America and LAMEA. Schedule a FREE Consultation Call with Our Analysts/Industry Experts to Find Solution for Your Business @ The key market players analyzed in the global turbine motors market report include Canyon Industries Inc., General Electric, Kirloskar Brothers Ltd., Litostroj Power Group, Norcan Hydraulic Turbine Inc., Turbocam, Arani Power, Andritz AG, Toshiba Hydroelectric Power, Voith Gmbh & Co. Kgaa, Gilbert Gilkes & Gordon Ltd., Chola Turbo Machinery International Pvt. Ltd., Doosan Škoda Power, Vestas Wind Systems Elliott Group, Mitsubishi Hitachi Power Systems Inc., Siemens AG, Turbine Generator Maintenance Inc. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry. Get more information: Similar Reports: (Pre-Book Now with 10% Discount) Turbine Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 Hydro Turbine Market: Global Opportunity Analysis and Industry Forecast 2020–2027 Turbine Control System Market: Global Opportunity Analysis and Industry Forecast, 2021–2030 Micro Turbine Market: Global Opportunity Analysis and Industry Forecast, 2019–2027 Multi fuel Gas Turbines Market: Global Opportunity Analysis and Industry Forecast, 2020-2027 Marine Wind Turbine Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 Vertical Axis Wind Turbine Market: Global Market Trends and Opportunities, 2021-2030 About us: Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry. Contact us: David Correa 5933 NE Win Sivers Drive #205, Portland, OR 97220 United States Toll Free (USA/Canada): +1-800-792-5285, +1-503-446-1141 International: +1-503-894-6022 UK: +44-845-528-1300 Hong Kong: +852-301-84916 India (Pune): +91-20-66346060 Fax: +1-855-550-5975 help@alliedmarketresearch.com Web: Follow us on | Facebook | Twitter | LinkedIn

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