Turbine Motor Market – Top Participant to Focus on Regional Expansion 2029
Turbine Motor Market: Introduction
The turbine motor is also called as turbine generator and the major function of turbine motor is to produce electricity. The turbine motors vary for different application in power generation. The turbine motors are used widely in wind turbines and other power plants. The key advantages of turbine motor is the requirement of air is 1/3rd less than that of pneumatic vane motor and the power to weight ratio is one half of the latter.
The turbine motors are manufactured by meeting motor controls of IEC and NEMA. The under construction of renewable energy power plants to generate electricity for the future demand is expected to drive the global turbine motor market. The leading players in the turbine and turbine motor market are focusing on investing in research and development to create massive wind turbines by turbine manufacturers for both onshore and offshore applications.
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Turbine Motor Market: Market Dynamics
The growing trend towards the green energy production and micro power plants have been driving factors for the market growth of turbine motors. The major challenge for the global turbine motor market is the high capital cost and maintenance that are involved and this will have a negative impact on the market growth.
The wind energy production and developing economies plans to enhance their wind energy capacity is driving the global turbine motor market. The global power giants such as Siemens, ABB and General Electric are acquiring new gas turbine power plant projects to install turbine motors and diagnostic services in Middle East countries such as Iran, Iraq etc. In addition to that, the steam turbine projects for the retrofitting business and modernization projects are driving the turbine motor market but it is expected to grow at a steady pace.
Turbine Motor Market: Market segmentation
The global turbine motor market can be segmented into type, and application.
On the basis of power rating, the global turbine motor market is segmented into:
- Less than 300 W
- 300 to 500 W
- 500 to 1,000 W
- 1,000 to 5,000 W
- Above 5,000 W
On the basis of electric output, the global turbine motor market is segmented into:
On the basis of phase type, the global turbine motor market is segmented into:
- Single Phase
- Three Phase
On the basis of installation base, the global turbine motor market is segmented into:
On the basis of application, the global turbine motor market is segmented into:
- Wind Turbine
- Gas Turbine
- Hydro Turbine
- Steam Turbine
Turbine Motor Market: Regional Outlook
The green energy production in developed economies such as US, Germany, the UK, France, Italy and Japan is keeping the global turbine motor market to have a linear growth trend. It is expected that the same trend will continue the same in the forecast period due to the government initiatives to reduce carbon footprints in developing economies such as India, China, Brazil, Mexico, Turkey, Thailand, and Indonesia. Further, the developed economies such as Germany are investing in combined wind and hydro power projects which will be a major trend in the forecast period and it will drive the global turbine motor market.
The turbine motor market is gaining a rapid growth potential in APAC region especially in countries such as China, Australia, India, and Indonesia. These countries are investing heavily in green energy production and to enhance their wind energy capacity especially in wind and hydro energy which is driving the sales of wind turbine motor. The turbine motor market is posing a strong growth due to new power plant projects for new hydropower stations in India and China as these countries will play a significant role in the global turbine motor market.
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Turbine Motor Market: Key Market Participants
Some of the key market participants in the global turbine motor market are:
- ATB Riva Calzoni S.p.A.
- A-Wing International Co., Ltd
- DEPRAG SCHULZ GMBH
- Hangzhou Lectstyle Trade Co., Ltd.
- Hoyer Motors
- MITSUBISHI HEAVY INDUSTRIES, LTD.
- Shanghai Dagan Industry Co., Ltd.
- Suzlon Energy Limited
- TD Power Systems Private Limited
- Yantai Petroleum Machinery Co., Ltd.
- YAWATA Electric Machinery Mfg. Co., Ltd.