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 more expensive option for utility companies. As a result, revenue for coal-based generation technologies is expected to climb over the forecast period.
Furthermore, the gas power market in China - although small when compared to the coal sector - is expected to expand considerably in the near future. Between 2013 and 2020, The authors predicts the country's gas turbine and Heat Recovery Steam Generators (HRSG) markets to grow at respective Compound Annual Growth Rates (CAGRs) of 9.4% and 8.8%.
*Boiler, Turbine, Generator (BTG) Equipment for Thermal Power - Market size, Competitive Landscape and Forecasts to 2020
This report provides data and analysis on drivers, restraints, revenue forecasts, market share analysis, sales volumes, pricing analysis and regulations for power boiler, steam turbine, gas turbine, Heat Recovery Steam Generator (HRSG) and turbogenerator for seven key countries.
This report was built using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis conducted by The authors's team of industry experts.
• Companies Mentioned
• Mitsubishi Heavy Industries Limited
• Dongfang Electric Corporation
• Siemens AG
• Harbin Electric Company Limited
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