Air Cooled Cooling Type Segment to Dominate the Turbo Generator Market through 2026
Growing energy requirements and surge in
number of power plants is expected to drive the demand for global turbo
generator market in forecast period.
According to TechSci Research report, “Global
Turbo
Generator Market By Type (Gas Turbine Generator, Steam Turbine Generator,
and Water Turbine Generator), By End User (Coal-fired Power Plant, Gas-fired
Power Plant, Nuclear Power Plant, and Others), By Cooling Type (Air Cooled,
Hydrogen Cooled, and Water-hydrogen Cooled), By Region, Competition Forecast
& Opportunities, 2026”, the global turbo generator market is expected
to witness steady growth in the forecast period. A turbo generator is a device
that combines the work of a turbine and electric motor and can convert kinetic,
chemical, and potential energy into electrical energy. Turbo generator offers
several advantages such as high efficiency and high control response,
reliability, and have a longer life. Turbine generators are used for the power
generation including the gas turbine generators in gas fired plants, water
turbine generators in hydro power plants and others. Growing energy
requirements around the globe and the rise in the installations of new power
plants which uses turbine generator for energy generation is expected to fuel
the demand of turbo generator market. Increase demand for the peak energy
source and the subsequent rise in demand of the natural gas is contributing
significantly to the market growth.
However, the growing installations of clean
energy fuels to curb down pollution levels may restrain the turbo generator
market growth.
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Global turbo generator market is segmented into type, end
user, cooling type, regional distribution, and company. Based on the end user,
the market can be divided into coal-fired power plant, gas-fired power plant,
nuclear power plant, and others. The gas-fired power plant segment is expected
to account for major market share in the forecast period, 2022-2026. Growing
demand for the generation of electricity around the globe owing to its huge
applications in different verticals is driving the demand of this segment. The
surge in the demand for the peak power source which uses natural gas as a
significant fuel and the decline in the price of natural gas is expected to
influence the demand of this segment. The gas-fired power plants can be
connected with the electric grid instantly without taking much time and
therefore finds high demand. Based on the cooling type, the market can be
divided into air cooled, hydrogen cooled, and water-hydrogen cooled. The
air-cooled segment is expected to dominate the market in the next five years.
High demand from the residential consumers for the consumption of electricity
is influencing the growth of this segment. The use of air-cooled turbo
generators for different applications including the military, agriculture, and
construction industry is expected to create lucrative opportunities for the
global turbo generator market growth. Based on the type, the market can be
divided into gas turbine generator, steam turbine generator, and water turbine
generator. The gas turbine generator is expected to witness growth in the
predicted period owing to the growing demand for energy consumption from
several industries including power, oil & gas, and large industries.
Alstom S.A., Andritz AG, Ansaldo Energia S.p.A., Ebara
Corporation, General Electric Company, Mitsubishi Heavy Industries, Ltd.,
Siemens AG, Suzlon Energy Ltd., Toshiba Corporation, Dongfang Electric
Corporation are the leading players operating in global turbo generator market.
Market players are increasingly focusing on research and development process to
fuel higher growth in the market. To meet evolving customer demand with respect
to better efficiency and durability, several turbo generator manufacturers are
coming up with their technologically advanced offerings.
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“The
growing electrification process across the developing countries and the rapid
infrastructural developments owing to urbanization and industrialization are
influencing the turbo generator market growth. The launch of the projects by
the leading authorities promoting access to electricity to reach every sector
of society is expected to fuel the market growth for the next five years.
Market players are investing huge amounts for the technological up-gradation of
the existing system to increase their efficiency and performance which in turn
is anticipated to propel the turbo generator market growth till 2026” said Mr. Karan Chechi, Research Director
with TechSci Research, a research based global management consulting firm.
“Global Turbo Generator
Market By Type (Gas Turbine Generator, Steam Turbine Generator, and Water
Turbine Generator), By End User (Coal-fired Power Plant, Gas-fired Power Plant,
Nuclear Power Plant, and Others), By
Cooling Type (Air Cooled, Hydrogen Cooled, and Water-hydrogen Cooled), By
Region, Competition Forecast & Opportunities, 2026” has evaluated the
future growth potential of global turbo generator market and provided
statistics & information on market size, shares, 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 the of global turbo generator market.
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