The rising population and rapid industrialisation of Asia-Pacific
is intensifying electricity demand in the region, and the development
of clean coal technologies is contributing further to
the growing popularity of steam turbines, according to GlobalData.
The report shows that thermal energy has long been the region's
most commonly used source of energy for electricity generation,
though the region's move towards alternative energy sources, while
relatively slow due to economic reasons, may threaten future
demand for steam turbines.
Revenue from the steam turbines
market in the Asia-Pacific region
began increasing in 2000, starting
a trend which continued until 2007.
In 2000, the revenue from this market
was around $1.8 billion, which
increased to $5.5 billion in 2007.
Then, the financial crisis led to a fall
in investments in steam turbines in
2008 and 2009. However, with the
revival of the economy in 2010, revenues
shot up to an estimated $9.1
billion in 2011. The steam turbine
market will continue to thrive in the
coming years, due to the increasing
demand for electricity and the
dominance of thermal sources in the electricity generation market.
The installed capacity for thermal energy in the Asia-Pacific region
stood at 669 GW in 2000. The installed capacity for 2011 is estimated
at 1,372.5 GW, representing a CAGR of 6.8 per cent over the
period 2000-2011. The installed capacity is expected to follow the
same trend during 2012-2020, resulting in a total installed capacity
of 1,969.3 GW.