Global Engines, Turbines, and Power Transmission Equipment Market Trends, Strategies, and Opportunities in 2021
The Business Research Company’s Global Engines, Turbines, and Power Transmission Equipment Market Report 2021: Impact and Recovery of COVID-19
LONDON, GREATER LONDON, United Kingdom, September 28, 2021 /EINPresswire.com/ – According to the new “Engine, Turbine, And Power Transmission Equipment Global Market Report 2021: COVID-19 Impact And Recovery” market research report published by The Business Research Company, the Engine, Turbine and Power Transmission Equipment Market is expected to grow from $ 494.46 billion in 2020 to $ 516.7 billion in 2021 at a compound annual growth rate (CAGR) of 4.5%. The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities that resulted in operational challenges. The engines, turbines and power transmission equipment market is expected to reach $ 712.24 billion in 2025 at a CAGR of 8%. Stable economic growth is expected to increase investment in end user markets, thereby driving the market over the forecast period.
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The Engines, Turbines and Power Transmission Equipment market comprises the sales of engines, turbines and power transmission equipment by entities (organizations, sole proprietorships or partnerships) that produce turbines, power transmission equipment and engines. internal combustion (except motor gasoline and airplanes).
Global Market Trends for Engines, Turbines and Power Transmission Equipment
Manufacturers of gas turbines and power generation equipment are adopting modular turbine designs to reduce site labor and provide short installation times. Modular turbine design is pre-fabricated power generation equipment in a factory, packaged to reduce the construction time of a power plant. It is reliable and inexpensive equipment that helps reduce construction, design, installation and delivery times. These modular designs can be prefabricated and delivered not only in gas turbines but also in other power plant components such as engine modules, fuel systems, emission control equipment, modules heat recovery steam generator (HRSG), generators, pipe supports and more. auxiliary systems. The main companies providing modular turbine designs are VESTAS, ENERCON and GE. In 2019 Vestas introduced EnVentus, a modular wind turbine platform based on an advanced modular design.
Global Engines, Turbines and Power Transmission Equipment Market Segments:
The global engines, turbines and power transmission equipment market is further segmented on the basis of type, capacity, and geography.
By type: commercial internal combustion engines, turbine and turbine generator sets, mechanical power transmission equipment, speed changer, industrial high speed drive and gear
By capacity: small, medium, large
Sub-segments covered: internal combustion diesel engines, gasoline internal combustion engines, internal combustion engines powered by natural gas, other internal combustion engines, steam and gas turbines, wind turbines, hydraulic turbines, sliding bearings, seals, clutches, couplings, pulleys, Chains and sprockets, Other mechanical power transmission equipment
By Geography: The global market for engines, turbines and power transmission equipment is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia-Pacific accounts for the largest share of the global market for engines, turbines and power transmission equipment.
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Global Engines, Turbines, and Power Transmission Equipment Market report 2021 is part of a series of new reports by The Business Research Company that provides Engines, Turbines, and Power Transmission Equipment market overviews, analysis and forecast on the size and growth of the global engine market, Power transmission turbines and equipment market, Engines, turbines and power transmission equipment market share, Engines, turbines and transmission equipment market players of power, market segments and geographies of engines, turbines and power transmission equipment, engine, turbine and power transmission revenues, profiles and market shares of the main competitors in the equipment market. The Engines, Turbines and Power Transmission Equipment Market report identifies key countries and segments for opportunities and strategies based on market trends and approaches of key competitors.
Read the 2021 Global Engines, Turbines, and Power Transmission Equipment Market report by The Business Research Company for insight into the following:
Data segments: market size, global, by region and by country; Historical and forecast size, and growth rate for the world, 7 regions and 12 countries
Covered Engines, Turbines and Power Transmission Equipment Market Organizations: General Electric Co; Siemens Company; Caterpillar Inc; Cummins Inc; Vestas Wind Systems A / S.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, United States, South America, Middle East and Africa.
Country: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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