DUBLIN — Research and Markets has announced the addition of the "Boiler, Turbine, Generator (BTG) Equipment for Thermal Power - Market size, Competitive Landscape and Forecasts to 2020" report to their offering.
Chinese Industrial Expansion to Drive Global Boiler, Turbine and Generator Market Growth
China's continuing reliance on thermal energy will prove the key driver in the global Boiler, Turbine and Generator (BTG) market in the near future, expects research and consulting firm the authors.
According to the company's latest report*, BTG market revenue in China will increase steadily from a expected total of US$20.9 billion in 2013 to US$30.1 billion in 2020, boosting the nation's share of the global market from 32% to 48%.
China's surging industrialization makes reliance on alternative power generation impractical, creating a favourable environment for a BTG industry currently struggling with the global rise of energy diversification and a move away from fossil fuels upon which the sector relies. Developed economies such as the US, UK and Japan are all expected to demonstrate minimal revenue growth in the BTG market during the same period.
China's ongoing dependence on coal is expected to be a substantial boon for the country's BTG market. Despite the rising price of coal, the commercialization of renewable energy continues to be the...