India Steam Turbines Market is expected to grow at a robust CAGR of 6.19%
India
Steam Turbines Market is expected to grow owing to integration of renewable
technologies like Concentrated Solar Power (CSP) and biomass energy throughout
the forecast period.
According
to TechSci Research report, “India
Steam Turbines Market – By
Region, Competition, Forecast and Opportunities, 2019-2029F”, the India
Steam Turbines Market is expected to register robust growth during the
forecast period.
Energy-intensive industries
such as petrochemicals, refineries, and paper mills heavily depend on steam
turbines for process heating and power generation. As these industries expand,
their demand for steam turbines continues to rise. Moreover, the drive to
improve energy efficiency and minimize operational expenses in these sectors
further fuels the adoption of cutting-edge steam turbine technology.
India
has established ambitious targets for renewable energy capacity, encompassing
solar and wind power. Steam turbines play a pivotal role in Concentrated Solar
Power (CSP) and biomass energy generation. As India continues its investment in
renewable energy infrastructure, there exists a substantial opportunity for
steam turbine manufacturers to deliver efficient and dependable solutions for
these sectors.
Based
on type, the
Steam Cycle segment is expected to dominate the market during the forecast
period. The steam cycle segment primarily encompasses power generation
technologies that rely on the Rankine cycle for converting thermal energy into
electricity. Historically, coal-fired power plants have been significant users
of steam turbines in India, operating based on the Rankine cycle. These plants
burn coal to produce steam that drives the turbine. Despite the growing
emphasis on cleaner energy sources, coal-fired power plants continue to play a
crucial role in meeting India's energy needs. However, there is a shift towards
more efficient supercritical and ultra-supercritical steam turbines in these
plants, aiming to improve efficiency and reduce emissions. This trend presents
an opportunity for manufacturers to provide advanced steam turbines for retrofitting
and new installations. The Indian government has introduced policies and
regulations to encourage the use of efficient and environmentally friendly
power generation technologies. For instance, steam turbines used in coal-fired
power plants must comply with emission standards, driving the demand for more
advanced and environmentally compliant steam turbines. Continued investment in
R&D is essential for enhancing the performance and efficiency of steam
turbines in the steam cycle segment. Collaborations with research institutions
and government initiatives can support the development of innovative steam
turbine designs that can address the evolving needs of the Indian power
generation industry.
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Based
on fuel type, the Coal segment is projected to dominate the market throughout
the forecast period. Numerous existing coal-fired power plants in India employ
older steam turbine technology that may not comply with current efficiency and
environmental standards. To enhance performance and prolong the lifespan of
these plants, retrofitting and modernization initiatives are increasingly
prevalent. Manufacturers of steam turbines offer solutions for upgrading
existing turbines, optimizing efficiency, and controlling emissions. Some
plants are adopting co-firing with biomass to reduce the carbon footprint of
coal-fired power generation. This involves blending biomass fuels like
agricultural residues or wood pellets with coal to mitigate greenhouse gas emissions.
Steam turbine manufacturers can develop solutions that accommodate co-firing
requirements, ensuring efficient power generation in such plants. Investment in
research and development is crucial to enhancing the performance and
environmental compatibility of steam turbines in coal-fired power plants.
Collaborations with research institutions and government initiatives can
facilitate the development of innovative designs that address emissions and
efficiency challenges associated with coal-based power generation. In summary,
the coal segment within the India Steam Turbines Market presents both
challenges and opportunities.
Key
market players in the India Steam Turbines Market are: -
- Bharat
Heavy Electricals Limited (BHEL)
- Siemens
India
- Triveni
Turbines Limited
- Thermax
Limited
- Kirloskar
Brothers Limited (KBL)
- Shin
Nippon Machinery India Pvt. Ltd.
- Doosan
Heavy Industries & Construction India Pvt. Ltd.
- TurboTech
Precision Engineering Pvt. Ltd.
- Ansaldo
Energia India Pvt. Ltd.
- Cheema
Boilers Limited
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“The
India Steam Turbines Market in South India is poised to be the dominant force
in the industry. South India is renowned for hosting numerous prominent ports,
establishing it as a pivotal center for shipping and logistics. The maritime
industry heavily relies on power generation to facilitate port operations, with
steam turbines commonly employed in power plants linked to these ports. As the
region's trade continues to flourish, the need for dependable power generation
equipment remains robust.” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based global management consulting firm.
“India
Steam Turbines Market Segmented By Type (Steam Cycle and Combined Cycle), By
Rated Capacity (1-120 Mw, 121-350 Mw, 351-750 Mw and Above 750 Mw), By Exhaust
Type (Condensing and Non-Condensing), By Fuel Type (Coal, Biomass, Nuclear and
Others), By Region, and By Competition, 2019-2029F,” has evaluated the future growth
potential of India Steam Turbines Market and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in India Steam Turbines Market.
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