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Steam Turbine Synchronous Generator Market Trends

Report ID: GMI10989
Published Date: Aug 2024
Report Format: PDF

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Steam Turbine Synchronous Generator Market Trends

The increasing demand for reliable electricity combined with the robust global expansion of power generation facilities will propel the synchronous generator market. A strong focus on energy efficiency and sustainability along with growing concerns about stable power generation is set to stimulate the business landscape. Additionally, the rising popularity of distributed energy resources, microgrids and decentralized power generation is gaining momentum. These systems are essential in various distributed energy systems serving as backup power sources or providing grid support in remote areas.

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market size of steam turbine synchronous generator was worth over USD 1.18 billion in 2023 and is estimated to witness 4.6% CAGR from 2024 to 2032, due to rising focus on energy efficiency coupled with the growing demand for dependable and efficient infrastructure development.

> 5 MVA - 15 MVA rated steam turbine synchronous generator market will exceed USD 200 million by 2032, due to rising demand for mid-sized power generation solutions coupled with surging emphasis on sustainable and energy-efficient technologies.

Asia Pacific steam turbine synchronous generator market size is set to surpass USD 1 billion by 2032, due to increasing demand for reliable and efficient power generation coupled with robust industrialization.

ABB, ANDRITZ, Ansaldo Energia, CG Power & Industrial Solutions Ltd., Elin Motoren, EvoTec Power Generation Co., Ltd., Ingeteam, MARELLI MOTORI, Mecc Alte SpA, and MEIDENSHA CORPORATION.