Turbine Manufacturing Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 3/11/2024
SIC Codes: 3511
NAICS Codes: 333611
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
View Full Sample Add To Cart

Excerpt from Turbine Manufacturing Industry Profile

Companies in this industry manufacture turbines (steam, hydraulic, gas, and wind) and complete turbine generator set units. Major manufacturers include divisions of Caterpillar and GE (both of the US), as well as Hitachi (Japan), Siemens (Germany), Vestas Wind Systems (Denmark), and Goldwind (China).

The global market for turbines and related systems is expected to grow at an annual rate of nearly 3.2% through 2024, reaching a value of more than $210 billion, according to The Freedonia Group. Leading countries for turbine and turbine generator set manufacture include China, Italy, Spain, Germany, and Japan.

The US turbine manufacturing industry includes about 160 companies with combined annual revenue of about $13 billion. The industry does not include companies that make turbines that are used on aircraft.

COMPETITIVE LANDSCAPE

Demand for turbines is driven by the level of overall industrial activity, and growth in the power generation industry. The profitability of individual companies depends on engineering expertise and efficient production. Large companies have economies of scale in purchasing. Small companies can compete effectively by specializing in niche turbine applications. The US industry is highly concentrated: the top 50 companies account for more than 95% of industry revenue.

The US is a net exporter of turbines, and exports account for about 60% of US production. Top export markets include Mexico, Singapore, Hungary, Saudi Arabia, and Japan. Imports account for about 50% of the US turbine ...

 
View Full Sample Add To Cart Return to the Industry Profile Menu

Related Profiles

Here are a few profiles related to Turbine Manufacturing that you also might be interested in viewing:

Would you or your company benefit from having unlimited access to First Research's industry intelligence tools?

Learn More About Subscription Options