Globaldata - MarketResearch8.2.3 Dongfang Electric Corporation, SWOT Analysis.....168 8.3 Global, Steam Turbine Market, Leading Player: Harbin Power Equipment Company Limited....171

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GDPE1041MAR / Published APR 2012 Page 1 Steam Turbines for Thermal Power - Global Market Size, Average Pricing,

Equipment Market Share and Competitive Landscape Analysis to 2020 © GlobalData. This report is a licensed product and is not to be copied, reproduced, shared or resold in any form

Steam Turbines for Thermal Power - Global Market Size, Average Pricing, Equipment Market Share and Competitive

Landscape Analysis to 2020 Reference Code: GDPE1041MAR Publication Date: April 2012

Growing Global Thermal Power Industry

Thermal energy is the most commonly used source of energy for electricity generation globally and has a greater installed capacity than any other source of energy. In 2000, the installed capacity for thermal energy in the world was XX TW. In 2011, the installed capacity was estimated at XX TW, representing a CAGR of XX% from 2000-2011. The installed capacity is expected to follow the same trend in the forecast period 2012-2020, with the total installed capacity expected to be around XX TW in 2020. The rising population and high rate of industrialization, especially in developing countries, is increasing the demand for electricity and has prompted governments and companies to augment their generation capacities. Though the focus on renewables is increasing, so far it has been difficult to make a major shift towards alternative sources because they are either uneconomical or incapable of generating sufficient power to meet the demand.

The figure below shows the cumulative installed capacity of thermal power for 2000, 2011 and 2020

Thermal Power Industry, Global, Cumulative Installed Capacity (MW), 2000, 2011 and 2020

2000 2011 2020

Inst

alle

d ca

paci

ty (M

W)

Source: GlobalData, Power eTrack, Capacity and Generation Database (Please note: 2011 numbers are estimates)

Growing Steam Turbine Market

In 2000, revenue from the global steam turbine market was around $XX billion, which increased to $XX billion in 2008 before the financial crises stopped growth in this market by lowering investor confidence in new projects and increasing the cost of capital. As a result, most markets saw a fall in steam turbine revenues in 2009.

However, as the markets have almost completely recovered from the financial setback, steam turbine business is expected to grow again due to the increasing demand for electricity and the dominance of thermal sources of energy in electricity generation. In 2020, GlobalData forecasts the revenue for the steam turbine market to be around $XX billion.

The figure below shows the revenues from the global steam turbine market for 2000, 2011 and 2020.

Steam Turbine Market, Global, Revenues ($m), 2000, 2011 and 2020

2000 2011 2020

Rev

enue

($m

)

Source: GlobalData (Please note: 2011 numbers are estimates)



1 Table of Contents 1 Table of Contents ............................................................................................................................ 3

1.1 List of Tables............................................................................................................................. 6 1.2 List of Figures............................................................................................................................ 7

2 Introduction ..................................................................................................................................... 9 2.1 Steam Turbines, Overview......................................................................................................... 9 2.2 GlobalData Report Guidance ..................................................................................................... 9

3 Power Generation Market, Overview .............................................................................................. 10 3.1 Power Generation, Thermal Energy ......................................................................................... 10 3.2 Power Generation, Thermal Energy Equipment, Turbines......................................................... 11

3.2.1 Thermal Energy, Steam Turbines.................................................................................... 11 3.2.2 Thermal Energy, Gas Turbines........................................................................................ 12

3.3 Power Generation, Steam Turbine Market, New Technologies.................................................. 13 4 Global, Power Industry Analysis, 2000–2020 .................................................................................. 14

4.1 Global, Power Industry, Installed Capacity, 2000–2020............................................................. 14 4.2 Global, Power Industry, Power Generation, 2000–2020 ............................................................ 16

5 Global, Thermal Power Industry Analysis, 2000–2020..................................................................... 18 5.1 Global, Thermal Power Industry, Installed Capacity, 2000–2020 ............................................... 18 5.2 Global, Thermal Power Industry, Power Generation, 2000–2020............................................... 20

6 Global, Steam Turbine Market Analysis, 2000–2020 ....................................................................... 22 6.1 Global, Steam Turbine Market, Overview ................................................................................. 22

6.1.1 Global, Steam Turbine Market, Market Size and Growth Analysis, 2000–2020.................. 22 6.1.2 Global, Steam Turbine Market, Revenue Analysis and Forecast, 2000–2020.................... 24 6.1.3 Global, Steam Turbine Market, Market Share Analysis by Capacity, 2011......................... 26

6.2 Global, Steam Turbine Market, Drivers and Impact Analysis, 2012-2020 ................................... 28 6.2.1 Availability of Coal .......................................................................................................... 28 6.2.2 Growing Demand for Electricity ....................................................................................... 30 6.2.3 Increase in Demand for CCGT ........................................................................................ 31 6.2.4 Development of Clean Coal Technology.......................................................................... 32

6.3 Global, Steam Turbine Market, Restraints and Impact Analysis, 2012–2020.............................. 33 6.3.1 Environmental/Emission Control Standards ..................................................................... 33 6.3.2 Impact of Alternative Sources of Energy .......................................................................... 33 6.3.3 Global Economic Downturn............................................................................................. 34

7 Global, Steam Turbine Market, Key Markets................................................................................... 35 7.1 Australia, Steam Turbine Market, Market Analysis, 2000–2020 ................................................. 35

7.1.1 Australia, Overview......................................................................................................... 35 7.1.2 Australia, Steam Turbine Market, Market Size and Growth Analysis, 2000–2020 .............. 37 7.1.3 Australia, Steam Turbine Market, Revenue Analysis and Forecast, 2000–2020 ................ 40 7.1.4 Australia, Steam Turbine Market, Market Share Analysis by Capacity, 2010 ..................... 42 7.1.5 Australia, Steam Turbine Market, Pricing Analysis, 2000–2020 ........................................ 42 7.1.6 Australia, Steam Turbine Market, Regulations ................................................................. 44

7.2 China, Steam Turbine Market, Market Analysis, 2000-2020 ...................................................... 46 7.2.1 China, Overview ............................................................................................................. 46 7.2.2 China, Steam Turbine Market, Market Size and Growth Analysis, 2000–2020................... 48 7.2.3 China, Steam Turbine Market, Revenue Analysis and Forecast, 2000–2020..................... 51 7.2.4 China, Steam Turbine Market, Market Share Analysis by Capacity, 2010 ......................... 55 7.2.5 China, Steam Turbine Market, Pricing Analysis, 2000–2020............................................. 57 7.2.6 China, Steam Turbine Market, Regulations...................................................................... 59

7.3 Germany, Steam Turbine Market, Market Analysis, 2000–2020 ................................................ 62 7.3.1 Germany, Overview ........................................................................................................ 62 7.3.2 Germany, Steam Turbine Market, Market Size and Growth Analysis, 2000–2020.............. 63 7.3.3 Germany, Steam Turbine Market, Revenue Analysis and Forecast, 2000–2020................ 67 7.3.4 Germany, Steam Turbine Market, Market Share Analysis by Capacity, 2011 .................... 69 7.3.5 Germany, Steam Turbine Market, Pricing Analysis, 2000–2020........................................ 70 7.3.6 Germany, Steam Turbine Market, Regulations................................................................. 72

7.4 India, Steam Turbine Market, Market Analysis, 2000–2020....................................................... 75 7.4.1 India, Overview............................................................................................................... 75 7.4.2 India, Steam Turbine Market, Market Size and Growth Analysis, 2000–2020 .................... 77 7.4.3 India, Steam Turbine Market, Revenue Analysis and Forecast, 2000–2020 ...................... 79 7.4.4 India, Steam Turbine Market, Market Share Analysis by Capacity, 2010........................... 82



7.4.5 India, Steam Turbine Market, Pricing Analysis, 2000–2020 .............................................. 83 7.4.6 India, Steam Turbine Market, Regulations ....................................................................... 84

7.5 Indonesia, Steam Turbine Market, Market Analysis, 2000–2020................................................ 87 7.5.1 Indonesia, Overview ....................................................................................................... 87 7.5.2 Indonesia, Steam Turbine Market, Market Size and Growth Analysis, 2000–2020............. 88 7.5.3 Indonesia, Steam Turbine Market, Revenue Analysis and Forecast, 2000–2020............... 92 7.5.4 Indonesia, Steam Turbine Market, Market Share Analysis by Capacity, 2011.................... 94 7.5.5 Indonesia, Steam Turbine Market, Pricing Analysis, 2000–2020....................................... 95 7.5.6 Indonesia, Steam Turbine Market, Regulations................................................................ 96

7.6 Italy, Steam Turbine Market, Market Analysis, 2000–2020 ........................................................ 98 7.6.1 Italy, Overview................................................................................................................ 98 7.6.2 Italy, Steam Turbine Market, Market Size and Growth Analysis, 2000–2020 ..................... 99 7.6.3 Italy, Steam Turbine Market, Revenue Analysis and Forecast, 2000–2020 ..................... 103 7.6.4 Italy, Steam Turbine Market, Market Share Analysis by Capacity, 2011 .......................... 106 7.6.5 Italy, Steam Turbine Market, Pricing Analysis, 2000–2020 ............................................. 107 7.6.6 Italy, Steam Turbine Market, Regulations ...................................................................... 109

7.7 Russia, Steam Turbine Market, Market Analysis, 2000–2020.................................................. 111 7.7.1 Russia, Overview.......................................................................................................... 111 7.7.2 Russia, Steam Turbine Market, Market Size and Growth Analysis, 2000–2020 ............... 113 7.7.3 Russia, Steam Turbine Market, Revenue Analysis and Forecast, 2000–2020 ................. 117 7.7.4 Russia, Steam Turbine Market, Market Share Analysis by Capacity, 2011...................... 120 7.7.5 Russia, Steam Turbine Market, Pricing Analysis, 2000–2020 ......................................... 121 7.7.6 Russia, Steam Turbine Market, Regulations .................................................................. 123

7.8 Saudi Arabia, Steam Turbine Market, Market Analysis, 2000–2020......................................... 124 7.8.1 Saudi Arabia, Overview................................................................................................. 124 7.8.2 Saudi Arabia, Steam Turbine Market, Market Size and Growth Analysis, 2000–2020...... 126 7.8.3 Saudi Arabia, Steam Turbine Market, Revenue Analysis and Forecast, 2000–2020 ........ 129 7.8.4 Saudi Arabia, Steam Turbine Market, Market Share Analysis by Capacity, 2011............. 131 7.8.5 Saudi Arabia, Steam Turbine Market, Pricing Analysis, 2000–2020 ................................ 133 7.8.6 Saudi Arabia, Steam Turbine Market, Regulations ......................................................... 135

7.9 South Korea, Steam Turbine Market, Market Analysis, 2000–2020 ......................................... 136 7.9.1 South Korea, Overview ................................................................................................. 136 7.9.2 South Korea, Steam Turbine Market, Market Size and Growth Analysis, 2000–2020....... 138 7.9.3 South Korea, Steam Turbine Market, Revenue Analysis and Forecast, 2000–2020......... 141 7.9.4 South Korea, Steam Turbine Market, Market Share Analysis by Capacity, 2011 ............. 143 7.9.5 South Korea, Steam Turbine Market, Pricing Analysis, 2000–2020................................. 144 7.9.6 South Korea, Steam Turbine Market, Regulations.......................................................... 146

7.10 The US, Steam Turbine Market, Market Analysis, 2000–2020................................................. 148 7.10.1 The US, Overview......................................................................................................... 148 7.10.2 The US, Steam Turbine Market, Market Size and Growth Analysis, 2000–2020.............. 149 7.10.3 The US, Steam Turbine Market, Revenue Analysis and Forecast, 2000–2020................ 153 7.10.4 The US, Steam Turbine Market, Market Share Analysis by Capacity, 2011..................... 155 7.10.5 The US, Steam Turbine Market, Pricing Analysis, 2000–2020 ........................................ 157 7.10.6 The US, Steam Turbine Market, Regulations ................................................................. 159

8 Global, Steam Turbine Market, Key Players, SWOT Analysis........................................................ 162 8.1 Global, Steam Turbine Market, Leading Player: Shanghai Electric Group Company ................ 162

8.1.1 Shanghai Electric Group, Company Overview................................................................ 162 8.1.2 Shanghai Electric Group, Business Description.............................................................. 162 8.1.3 Shanghai Electric Group, SWOT Analysis ..................................................................... 163

8.2 Global, Steam Turbine Market, Leading Player: Dongfang Electric Corporation Ltd.................. 167 8.2.1 Dongfang Electric Corporation, Company Overview....................................................... 167 8.2.2 Dongfang Electric Corporation, Business Description..................................................... 167 8.2.3 Dongfang Electric Corporation, SWOT Analysis............................................................. 168

8.3 Global, Steam Turbine Market, Leading Player: Harbin Power Equipment Company Limited.... 171 8.3.1 Harbin Power Equipment Company Limited, Company Overview ................................... 171 8.3.2 Harbin Power Equipment Company Limited, Business Description ................................. 171 8.3.3 Harbin Power Equipment Company Limited, SWOT Analysis ......................................... 172

8.4 Global, Steam Turbine Market, Leading Player: Bharat Heavy Electricals Ltd. ......................... 175 8.4.1 Bharat Heavy Electricals Ltd., Company Overview......................................................... 175 8.4.2 Bharat Heavy Electricals Ltd., Business Description....................................................... 175 8.4.3 Bharat Heavy Electricals Ltd., SWOT Analysis............................................................... 176

9 Appendix..................................................................................................................................... 180 9.1 Definitions............................................................................................................................. 180

9.1.1 Power........................................................................................................................... 180



9.1.2 Installed Capacity ......................................................................................................... 180 9.1.3 Electricity Generation.................................................................................................... 180 9.1.4 Electricity Consumption................................................................................................. 180 9.1.5 Thermal Power ............................................................................................................. 180 9.1.6 Hydro Power ................................................................................................................ 180 9.1.7 Nuclear Power.............................................................................................................. 180 9.1.8 Renewable Energy Resources ...................................................................................... 180 9.1.9 Repowering.................................................................................................................. 180 9.1.10 Market Size .................................................................................................................. 180

9.2 Abbreviations ........................................................................................................................ 181 9.3 Bibliography .......................................................................................................................... 182 9.4 Methodology ......................................................................................................................... 183 9.5 Coverage .............................................................................................................................. 183 9.6 Secondary Research ............................................................................................................. 183 9.7 Primary Research.................................................................................................................. 184 9.8 Modeling and Forecasting...................................................................................................... 184 9.9 Contact Us ............................................................................................................................ 184 9.10 Disclaimer ............................................................................................................................. 184



1.1 List of Tables Table 1: Thermal Energy, Global, Installed Capacity by Country (%), 2011 ........................................ 11 Table 2: Power Industry, Global, Cumulative Installed Capacity (MW), 2000–2020............................. 15 Table 3: Power Industry, Global, Power Generation (GWh), 2000–2020 ............................................ 17 Table 4: Thermal Power Industry, Global, Installed Capacity (MW), 2000–2020 ................................. 19 Table 5: Global, Thermal Power Industry, Power Generation (GWh), 2000–2020............................... 21 Table 6: Steam Turbine Market, Global, Units Sold, 2000–2020 ........................................................ 23 Table 7: Steam Turbine Market, Global, Revenues ($m), 2000–2020................................................. 25 Table 8: Steam Turbine Market, Global, Market Shares (%), 2011..................................................... 27 Table 9: Proven Coal Reserves, Global, Country Shares (%), 2010 ................................................... 29 Table 10: Power Industry, Global, Power Consumption (GWh), 2000–2020 ......................................... 31 Table 11: Global, Clean Energy Investments, 2004–2010.................................................................... 34 Table 12: Cumulative Installed Capacity, Australia, Installed Capacity by Fuel Type (%), 2011............. 35 Table 13: Steam Turbine Market, Australia, Leading Planned Power Plants, 2012-2020....................... 37 Table 14: Steam Turbine Market, Australia, Units Sold, 2000–2020..................................................... 39 Table 15: Steam Turbine Market, Australia, Revenues ($m), 2000–2020 ............................................. 41 Table 16: Steam Turbine Market, Australia, Average Price ($/kW), 2000–2020 .................................... 43 Table 17: Cumulative Installed Capacity, China, Installed Capacity by Fuel Type (%), 2011 ................. 46 Table 18: Steam Turbine Market, China, Leading Planned Power Plants, 2012-2020 ........................... 48 Table 19: Steam Turbine Market, China, Units Sold, 2000–2020 ......................................................... 51 Table 20: Steam Turbine Market, China, Revenues ($m), 2000–2020.................................................. 54 Table 21: Steam Turbine Market, China, Market Share by Capacity (%), 2004-2009 ............................ 55 Table 22: Steam Turbine Market, China, Units and Capacity Contracted, 2010 .................................... 55 Table 23: Steam Turbine Market, China, Market Share by Capacity (%), 2010..................................... 56 Table 24: Steam Turbine Market, China, Average Price ($/kW), 2000–2020 ........................................ 58 Table 25: Cumulative Installed Capacity, Germany, Installed Capacity by Fuel Type (%), 2011 ............ 62 Table 26: Steam Turbine Market, Germany, Leading Planned Power Plants ........................................ 63 Table 27: Steam Turbine Market, Germany, Units Sold, 2000–2020 .................................................... 66 Table 28: Steam Turbine Market, Germany, Revenues ($m), 2000–2020 ............................................ 68 Table 29: Steam Turbine Market, Germany, Market Share by Capacity (%), 2004-2011 ....................... 69 Table 30: Steam Turbine Market, Germany, Average Price ($/kW), 2000–2020 ................................... 71 Table 31: Cumulative Installed Capacity, India, Installed Capacity by Fuel Type (%), 2011................... 76 Table 32: Steam Turbine Market, India, Units Sold, 2000–2020........................................................... 78 Table 33: Steam Turbine Market, India, Revenues ($m), 2000–2020 ................................................... 81 Table 34: Steam Turbine Market, India, Market Share by Capacity (%), 2011 ...................................... 83 Table 35: Steam Turbine Market, India, Average Price ($/kW), 2000–2020 .......................................... 84 Table 36: Cumulative Installed Capacity, Indonesia, Installed Capacity by Fuel Type (%), 2011 ........... 87 Table 37: Steam Turbine Market, Indonesia, Leading Planned Power Plants ....................................... 89 Table 38: Steam Turbine Market, Indonesia, Units Sold, 2000–2020 ................................................... 91 Table 39: Steam Turbine Market, Indonesia, Revenues ($m), 2000–2020............................................ 93 Table 40: Steam Turbine Market, Indonesia, Market Share by Capacity (%), 2004-2011 ...................... 94 Table 41: Steam Turbine Market, Indonesia, Average Price ($/kW), 2000–2020................................... 96 Table 42: Cumulative Installed Capacity, Italy, Installed Capacity by Fuel Type (%), 2011 .................... 98 Table 43: Steam Turbine Market, Italy, Leading Planned Power Plants.............................................. 100 Table 44: Steam Turbine Market, Italy, Units Sold, 2000–2020.......................................................... 102 Table 45: Steam Turbine Market, Italy, Revenues ($m), 2000–2020 .................................................. 105 Table 46: Steam Turbine Market, Italy, Average Price ($/kW), 2000–2020 ......................................... 108 Table 47: Cumulative Installed Capacity, Russia, Installed Capacity by Fuel Type (%), 2011.............. 111 Table 48: Steam Turbine Market, Russia, Planned Power Plants....................................................... 113 Table 49: Steam Turbine Market, Russia, Units Sold, 2000–2020...................................................... 116 Table 50: Steam Turbine Market, Russia, Revenues ($m), 2000–2020 .............................................. 119 Table 51: Steam Turbine Market, Russia, Market Share by Capacity (%), 2011 ................................. 121 Table 52: Steam Turbine Market, Russia, Average Price ($/kW), 2000–2020..................................... 122 Table 53: Cumulative Installed Capacity, Saudi Arabia, Installed Capacity by Fuel Type (%), 2011..... 125 Table 54: Steam Turbine Market, Saudi Arabia, Leading Planned Power Plants................................. 126 Table 55: Steam Turbine Market, Saudi Arabia, Units Sold, 2000–2020............................................. 128 Table 56: Steam Turbine Market, Saudi Arabia, Revenues ($m), 2000–2020..................................... 130 Table 57: Steam Turbine Market, Saudi Arabia, Market Share by Capacity (%), 2004-2010................ 131 Table 58: Steam Turbine Market, Saudi Arabia, Market Share by Capacity (%), 2011 ........................ 132 Table 59: Steam Turbine Market, Saudi Arabia, Average Price ($/kW), 2000–2020............................ 134 Table 60: Cumulative Installed Capacity, South Korea, Installed Capacity by Fuel Type (%), 2011 ..... 137 Table 61: Steam Turbine Market, South Korea, Units Sold, 2000–2020 ............................................. 140



Table 62: Steam Turbine Market, South Korea, Revenues ($m), 2000–2020...................................... 142 Table 63: Steam Turbine Market, South Korea, Market Share by Capacity (%), 2011......................... 143 Table 64: Steam Turbine Market, South Korea, Average Price ($/kW), 2000–2020 ............................ 145 Table 65: Power Market, South Korea, Expenditure on Green Growth ($bn), 2009–2013 ................... 147 Table 66: Cumulative Installed Capacity, The US, Installed Capacity by Fuel Type (%), 2011............. 148 Table 67: Steam Turbine Market, The US, Leading Planned Power Plants......................................... 150 Table 68: Steam Turbine Market, The US, Units Sold, 2000–2020..................................................... 152 Table 69: Steam Turbine Market, The US, Revenues ($m), 2000–2020............................................. 154 Table 70: Steam Turbine Market, The US, Market Share by Capacity (%), 2004-2010........................ 155 Table 71: Steam Turbine Market, The US, Market Share by Capacity (%), 2011 ................................ 156 Table 72: Steam Turbine Market, The US, Average Price ($/kW), 2000–2020.................................... 158 Table 73: Shanghai Electric Group Company Ltd., SWOT Analysis ................................................... 163 Table 74: Dongfang Electric Corporation Ltd., SWOT Analysis .......................................................... 168 Table 75: Bharat Heavy Electricals Ltd., SWOT Analysis................................................................... 176 Table 76: Abbreviations.................................................................................................................... 181

1.2 List of Figures Figure 1: Thermal Energy, Global, Installed Capacity by Country (%), 2011 ........................................ 10 Figure 2: Steam Turbine Function...................................................................................................... 12 Figure 3: Gas Turbine Function ......................................................................................................... 12 Figure 4: Power Industry, Global, Cumulative Installed Capacity (MW), 2000–2020............................. 14 Figure 5: Power Industry, Global, Power Generation (GWh), 2000–2020 ............................................ 16 Figure 6: Thermal Power Industry, Global, Installed Capacity (MW), 2000–2020 ................................. 18 Figure 7: Thermal Power Industry, Global, Power Generation (GWh), 2000–2020............................... 20 Figure 8: Steam Turbine Market, Global, Units Sold, 2000–2020 ........................................................ 22 Figure 9: Steam Turbine Market, Global, Revenues ($m), 2000–2020................................................. 24 Figure 10: Steam Turbine Market, Global, Market Shares by Capacity (%), 2011 .................................. 27 Figure 11: Proven Coal Reserves, Global, Country Shares (%), 2010 ................................................... 28 Figure 12: Power Industry, Global, Power Consumption (GWh), 2000–2020 ......................................... 30 Figure 13: Steam Turbine Market, Global, Drivers, 2012–2020 ............................................................. 32 Figure 14: Global, Clean Energy Investments, 2004–2010.................................................................... 33 Figure 15: Steam Turbine Market, Global, Restraints, 2012–2020......................................................... 34 Figure 16: Cumulative Installed Capacity, Australia, Installed Capacity by Fuel Type (%), 2011............. 35 Figure 17: Steam Turbine Market, Australia, Units Sold, 2000–2020..................................................... 38 Figure 18: Steam Turbine Market, Australia, Revenues ($m), 2000–2020 ............................................. 40 Figure 19: Steam Turbine Market, Australia, Average Price ($/kW), 2000–2020 .................................... 42 Figure 20: Cumulative Installed Capacity, China, Installed Capacity by Fuel Type (%), 2011 ................. 46 Figure 21: Steam Turbine Market, China, Units Sold, 2000–2020 ......................................................... 50 Figure 22: Steam Turbine Market, China, Revenues ($m), 2000–2020.................................................. 53 Figure 23: Steam Turbine Market, China, Market Share by Capacity (%), 2010..................................... 56 Figure 24: Steam Turbine Market, China, Average Price ($/kW), 2000–2020 ........................................ 57 Figure 25: Cumulative Installed Capacity, Germany, Installed Capacity by Fuel Type (%), 2011 ............ 62 Figure 26: Steam Turbine Market, Germany, Units Sold, 2000–2020 .................................................... 65 Figure 27: Steam Turbine Market, Germany, Revenues ($m), 2000–2020 ............................................ 67 Figure 28: Steam Turbine Market, Germany, Average Price ($/kW), 2000–2020 ................................... 70 Figure 29: Cumulative Installed Capacity, India, Installed Capacity by Fuel Type (%), 2011................... 75 Figure 30: Steam Turbine Market, India, Units Sold, 2000–2020........................................................... 77 Figure 31: Steam Turbine Market, India, Revenues ($m), 2000–2020 ................................................... 80 Figure 32: Steam Turbine Market, India, Market Share by Capacity (%), 2011 ...................................... 82 Figure 33: Steam Turbine Market, India, Average Price ($/kW), 2000–2020 .......................................... 83 Figure 34: Cumulative Installed Capacity, Indonesia, Installed Capacity by Fuel Type (%), 2011 ........... 87 Figure 35: Steam Turbine Market, Indonesia, Units Sold, 2000–2020 ................................................... 90 Figure 36: Steam Turbine Market, Indonesia, Revenues ($m), 2000–2020............................................ 92 Figure 37: Steam Turbine Market, Indonesia, Average Price ($/kW), 2000–2020................................... 95 Figure 38: Cumulative Installed Capacity, Italy, Installed Capacity by Fuel Type (%), 2011 .................... 98 Figure 39: Steam Turbine Market, Italy, Units Sold, 2000–2020.......................................................... 101 Figure 40: Steam Turbine Market, Italy, Revenues ($m), 2000–2020 .................................................. 104 Figure 41: Steam Turbine Market, Italy, Average Price ($/kW), 2000–2020 ......................................... 107 Figure 42: Cumulative Installed Capacity, Russia, Installed Capacity by Fuel Type (%), 2011.............. 111 Figure 43: Steam Turbine Market, Russia, Units Sold, 2000–2020...................................................... 115 Figure 44: Steam Turbine Market, Russia, Revenues ($m), 2000–2020 .............................................. 118 Figure 45: Steam Turbine Market, Russia, Market Share by Capacity (%), 2011 ................................. 120



Figure 46: Steam Turbine Market, Russia, Average Price ($/kW), 2000–2020..................................... 121 Figure 47: Cumulative Installed Capacity, Saudi Arabia, by Type of Power Plant (%), 2011 ................. 124 Figure 48: Steam Turbine Market, Saudi Arabia, Units Sold, 2000–2020............................................. 127 Figure 49: Steam Turbine Market, Saudi Arabia, Revenues ($m), 2000–2020..................................... 129 Figure 50: Steam Turbine Market, Saudi Arabia, Market Share by Capacity (%), 2011 ........................ 132 Figure 51: Steam Turbine Market, Saudi Arabia, Average Price ($/kW), 2000–2020............................ 133 Figure 52: Cumulative Installed Capacity, South Korea, Installed Capacity by Fuel Type (%), 2011 ..... 136 Figure 53: Steam Turbine Market, South Korea, Units Sold, 2000–2020 ............................................. 139 Figure 54: Steam Turbine Market, South Korea, Revenues ($m), 2000–2020...................................... 141 Figure 55: Steam Turbine Market, South Korea, Market Share by Capacity (%), 2011......................... 143 Figure 56: Steam Turbine Market, South Korea, Average Price ($/kW), 2000–2020 ............................ 144 Figure 57: Cumulative Installed Capacity, The US, Installed Capacity by Fuel Type (%), 2011............. 148 Figure 58: Steam Turbine Market, The US, Units Sold, 2000–2020..................................................... 151 Figure 59: Steam Turbine Market, The US, Revenues ($m), 2000–2020............................................. 153 Figure 60: Steam Turbine Market, The US, Market Share by Capacity (%), 2011 ................................ 156 Figure 61: Steam Turbine Market, The US, Average Price ($/kW), 2000–2020.................................... 157



2 Introduction The global thermal power sector is expected to grow in the near future due to the increasing demand for electricity worldwide. This increase in electricity demand can be attributed to the constantly increasing global population and rapid industrialization. As thermal power grows, the demand for the equipment used in the thermal industry will also increase.

2.1 Steam Turbines, Overview A turbine is a rotating engine that converts kinetic energy into mechanical energy. It is powered by a moving fluid, which causes its blades to rotate. As the blades rotate, some of the kinetic energy is extracted from the source (air flow or moving fluid) and is converted to mechanical energy, which is eventually converted to electricity using a generator.

There are three types of turbine: wind turbines, steam turbines, and gas turbines. Wind turbines are used in windmills that use air flow to rotate the blades. Gas and steam turbines use thermal energy from the burning of fossil fuels or natural gas to move the blades.

A steam turbine is a device for generating mechanical power in a rotary motion by extracting thermal energy from pressurized steam, which is produced from water (or other liquids) to rotate the turbine. Steam turbines have a boiler attached and a heat source to heat the boiler. Liquid is stored in the boiler, which is then heated by burning fuels such as coal, oil or natural gas. Turbines have an impeller that rotates due to the steam pressure. The impeller is attached to the generator, which converts the rotating motion of the impeller to electrical energy.

2008 and 2009 witnessed a fall in the steam turbine market. The global economic crisis of late 2008 and the liquidity situation that followed were the main reasons behind this dip in the thermal energy market. However, with the revival of economic activity in 2010, the global steam turbine market is expected to recover.

This report on the steam turbine market provides analysis and forecasts for the key global steam turbine markets. It also provides a company SWOT analysis for the major global steam turbine manufacturers.

2.2 GlobalData Report Guidance The report starts with an executive summary covering the key points of the market. Chapter two provides an introduction to the steam turbine market and an overview of steam turbines.

The report provides analysis for steam turbines used in thermal power plants only with capacity greater than 70 MW.

Chapter three discusses power generation using steam turbines and lists available new technologies for cleaner and efficient power generation from coal.

Chapter four examines the global power industry, in terms of both installed capacity and power generation.

Chapter five examines the global thermal power industry, focusing on both installed capacity and power generation.

Chapter six analyzes the global steam turbine market in terms of steam turbine units sold and steam turbine revenues. It also discusses the key drivers and restraints impacting the market.

Chapter seven provides an in-depth analysis of the key global steam turbine markets. Ten countries are discussed: the US, China, India, Russia, South Korea, Germany, Australia, Indonesia, Italy and Saudi Arabia. It provides data and analysis related to the market size, revenue, market shares, average price and regulations in each of these countries.

Chapter eight provides company SWOT analysis of four key global turbine manufacturers: Shanghai Electric Group, Dongfang Electric, Harbin Electric Company Limited and Bharat Heavy Electricals Limited.

Note: All capacity, generation and consumption figures for 2011 are estimates. For China and global, the steam turbine market numbers for 2011 are estimates.



4 Global, Power Industry Analysis, 2000-2020

4.1 Global, Power Industry, Installed Capacity, 2000-2020 According to GlobalData estimates, the global cumulative installed power capacity increased from XX TW in 2000 to an estimated XX TW in 2011, representing a CAGR of XX% over this period. This trend is expected to continue, mainly because of the anticipated increase in power demand due to the increasing global population and rate of industrialization. The global cumulative installed power generation capacity is expected to be around XX TW in 2020, representing a CAGR of XX% for the 2012-2020 period.

The figure below shows the cumulative installed capacity of the global power industry for 2000-2020.

Figure 4: Power Industry, Global, Cumulative Installed Capacity (MW), 2000-2020

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

Inst

alle

d C

apac

ity (M

W)




The table below provides details of the cumulative installed capacity of the global power industry for 2000-2020.

Table 2: Power Industry, Global, Cumulative Installed Capacity (MW), 2000-2020 Year Cumulative Installed Capacity

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020




6.2 Global, Steam Turbine Market, Drivers and Impact Analysis, 2012-2020 There are a wide range of factors that drive the global steam turbine market. The most important of these are outlined below.

6.2.1 Availability of Coal At the end of 2010, global proven coal reserves were estimated to be XX billion tons. This means that there is still enough coal to fuel global requirements for the next XX years at current production levels. The global coal reserves are much larger than the gas or oil reserves and this will drive the global steam turbine market in the years to come.

The figure below shows the shares of key countries in the overall proven coal reserves at the end of 2010.

Figure 11: Proven Coal Reserves, Global, Country Shares (%), 2010

US

Russian Federation

China

Australia

India

Germany

Ukraine

Kazakhstan

South Africa

Rest of the world

Source: GlobalData, BP Statistical Review of World Energy, 2011



The table below provides information on the shares of key countries in the overall proven coal reserves at the end of 2010.

Table 9: Proven Coal Reserves, Global, Country Shares (%), 2010 Country Coal Reserves Share

US

Russian Federation

China

Australia

India

Germany

Ukraine

Kazakhstan

South Africa

Rest of the world

Source: GlobalData, BP Statistical Review of World Energy, 2011



9 Appendix

9.1 Definitions The report covers the global steam turbine market. The report covers the market size, revenue, average price and market share of the global market and major countries in the global market.

9.1.1 Power According to "Energy Information Administration" power is defined as the rate of producing, transferring, or using energy, most commonly associated with electricity. Power is measured in watts and often expressed in kilowatts (kW) or megawatts (MW).

9.1.2 Installed Capacity According to "Energy Information Administration" installed capacity is defined as the amount of electric power delivered or required for which a generator, turbine, transformer, transmission circuit, station, or system is rated by the manufacturer.

9.1.3 Electricity Generation According to "Energy Information Administration" electricity generation is defined as the process of producing electric energy by transforming other forms of energy; also, the amount of electric energy produced, expressed Gigawatt hours (GWh).

9.1.4 Electricity Consumption Electricity consumption is computed as electricity generated, plus imports, minus exports, minus transmission and distribution losses. It is measured in Gigawatt-hours (GWh).

9.1.5 Thermal Power Thermal power is defined as the electricity generated by turbine generators driven by burning fossil fuels-coal, gas and oil.

9.1.6 Hydro Power Hydro power is defined as the electricity generated by turbine generators driven by the gravitational force of running water.

9.1.7 Nuclear Power Nuclear power is defined as the electricity generated by the use of the thermal energy released from the fission of nuclear fuel in a reactor.

9.1.8 Renewable Energy Resources Renewable power is defined as the electricity generated from naturally replenishing energy resources. These energy sources are flow-limited. The energy resources include: biomass, biogas, geothermal, solar, tidal, wave and wind.

9.1.9 Repowering Increase the efficiency or capacity of aging steam power plants by installation of new equipments. Repowering can be done in many ways. In this report, repowering refers to adding gas turbine and HRSG to the existing steam power plant to improve its efficiency.

9.1.10 Market Size The revenue generated from the power market equipment (e.g. HVDC converter station) sold in that particular period.



9.2 Abbreviations

Table 76: Abbreviations Abbreviation Full Forms

BHEL Bharat Heavy Electricals Ltd.

CAGR Compound Annual Growth Rate

CCGT Combined Cycle Gas Turbine

CCT Clean Coal Technology

CEA Central Electricity Authority

CERC Central Electricity Regulatory Commission

ETS Emission Trading Scheme

GE General Electric

GWh Gigawatt Hour

IAEA International Atomic Energy Agency

IGCC integrated Gasification Combined Cycle

IPP Independent Power Producers

ITC Investment Tax Credits

KOREC Korea Electricity Commission

KPX Korea Power Exchange

MHI Mitsubishi Heavy Industries

MKE Ministry of Knowledge Economy

MNRE Ministry of New and Renewable Energy

MOCIE Ministry of Commerce, Industry and Energy

MW Megawatt

NDRC National Development and Reform Commission

NTPC National Thermal Power Corporation

REC Rural Electrification Corporation

RGGVY Rajiv Gandhi Grameen Vidyutikaran Yojana

SERC State Electricity Regulatory Commission

WGC Wholesale Generation Companies

Source: GlobalData



9.3 Bibliography World Bank, 2010: Gross domestic product 2010 Available from http://siteresources.worldbank.org/DATASTATISTICS/Resources/GDP.pdf Accessed on: Feb 1, 2012

BP Statistical Review of World Energy, June 2011 Available from http://www.bp.com/assets/bp_internet/globalbp/globalbp_uk_english/reports_and_publications/statistical_energy_review_2011/STAGING/local_assets/spreadsheets/statistical_review_of_world_energy_full_report_2011.xls Accessed on: Feb 1, 2012

IMF, 2011: World Economic Outlook Databases, September 2011 Available from - http://www.imf.org/external/pubs/ft/weo/2011/02/weodata/index.aspx Accessed on: Feb 1, 2012

WNA, World Nuclear Organization Available from - http://www.world-nuclear.org/ Accessed on: Feb 1, 2012

REEP: Commonwealth of Australia Available from http://www.reeep.org/file_upload/9823_tmpphpMsR0KA.pdf Accessed on: Feb 6, 2012

E3G: Chinese challenge or low carbon opportunity? Available from http://www.e3g.org/images/uploads/E3G_Chinese_Challenge_or_Low_Carbon_Opportunity_updated.pdf Accessed on: Feb 6, 2012

China Daily, China meets target of closing outdated coal-fueled power stations Available from http://www.chinadaily.com.cn/business/2010-07/26/content_11047808.htm Accessed on: Feb 6, 2012

WNA: Nuclear Power in Germany Available from http://www.world-nuclear.org/info/inf43.html Accessed on: 8th Feb, 2012

Press Information Bureau, Government of India Available from http://pib.nic.in/newsite/erelease.aspx?relid=76140 Accessed on: Feb 10, 2012

IEA: Overview of Indian Power Sector Available from http://www.iea.org/work/2010/india_bee/mathur.pdf Accessed on: Feb 10, 2012

MEMR: Indonesian Powers and Electricity Expo (IPEX) 2011 Available from http://www.esdm.go.id/press-release/53-pressrelease/5157-indonesian-powers-and-electricity-expo-ipex-2011.html Accessed on: Feb 12, 2012

REEEP: Policy DB Details: Indonesia (2010) Available from http://www.reeep.org/index.php?id=9353&text=policy&special=viewitem&cid=32 Accessed on: Feb 12, 2012

Global methane initiative, 2011: Country Profiles Available from



http://www.globalmethane.org/documents/toolsres_coal_overview_ch18.pdf Accessed on: Feb 14, 2012

The German Marshall Fund of the United States, 2010: Russian Coal: Europe’s New Energy Challenge

Available from http://www.gmfus.org/wp-content/files_mf//galleries/ct_publication_attachments/ClimateKevinRosnerRussianCoal.pdf Accessed on: Feb 14, 2012

Bloomberg, 2011: Saudi Arabia Looks to Solar, Nuclear Power to Reduce Its Oil Use by Half Available from http://www.bloomberg.com/news/2011-04-03/solar-nuclear-energy-to-reduce-saudi-oil-demand-official-says.html Accessed on: Feb 16, 2012

UNEP 2010: Overview of the Republic of Korea’s National Strategy for Green Growth Available from http://www.unep.org/PDF/PressReleases/201004_unep_national_strategy.pdf Accessed on: Feb 16, 2012

DSIRE, US Federal Incentives/Policies for Renewables & Efficiency Available from http://www.dsireusa.org/incentives/index.cfm?state=us&re=1&EE=1 Accessed on: Feb 17, 2012

9.4 Methodology GlobalData’s dedicated research and analysis teams consist of experienced professionals with marketing, market research and consulting backgrounds in the power industry, and advanced statistical expertise.

GlobalData adheres to the codes of practice of the Market Research Society (www.mrs.org.uk) and the Society of Competitive Intelligence Professionals (www.scip.org).

All GlobalData databases are continuously updated and revised. The following research methodology is followed for all databases and reports.

9.5 Coverage The objective of updating GlobalData coverage is to ensure that it represents the most up-to-date vision of the industry. We track hundreds of Power news sources on a daily basis. Using this news flow and regular interaction with the industry experts, we identify the key trends being witnessed by the industry. These could be market opportunities, industry consolidations, technological breakthroughs and policy updates. Our articles and reports investigate these trends in detail and evaluate the market implications of these trends.

9.6 Secondary Research The research process begins with exhaustive secondary research on internal and external sources being carried out to source qualitative and quantitative information relating to each market. The secondary research sources that are typically referred to include, but are not limited to:

Company websites, annual reports, financial reports, broker reports, investor presentations and US Securities and Exchanges (SEC) filings

Industry trade journals and other literature

Internal and external proprietary databases

National government documents, statistical databases and market reports

News articles, press releases and web-casts specific to the companies operating in the market



9.7 Primary Research A primary research effort further substantiates findings and information captured through desk research. This aspect of the research program serves both as a means of obtaining updates regarding issues such as changes in policy frameworks, power sector development, and as a quality control mechanism. GlobalData conducts hundreds of primary interviews a year with industry participants and commentators in order to validate its data and analysis. A typical research interview fulfills the following functions:

It provides first-hand information on the market size, market trends, growth trends, competitive landscape, and future outlook of the market, among other things.

It helps in validating and strengthening the secondary research findings

It further develops the analysis team’s expertise and market understanding

It provides primary research involving email interactions and telephone interviews as well as face-to-face interviews for each market, category, segment and sub-segment across all the relevant geographies.

The participants who typically take part in such a process include, but are not limited to:

Industry participants: CEOs, VPs, business development managers, market intelligence managers and national sales managers

Outside experts: investment bankers, valuation experts, research analysts and key opinion leaders specializing in power industry.

9.8 Modeling and Forecasting In the case of data gaps and especially while forecasting the market, we use in-house models to forecast the data. Historic data and the analysis of trends within it form the basis of all forecasting methodology. Various qualitative and quantitative factors are usually taken into account for estimating the future growth. The forecast data is validated through various industry experts and a back-of-envelope test is also carried out.

9.10 Disclaimer All Rights Reserved.

No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior permission of the publisher, GlobalData.

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