Global Engine, Turbine, And Power Transmission Equipment Market Trends And Strategies Of Major Players In The Engine, Turbine, And Power Transmission Equipment Market 2021-2030

The engine, turbine, and power transmission equipment market consists of sales of engine, turbine, and power transmission equipment by entities (organizations, sole traders or partnerships) that produce turbines, power transmission equipment, and internal combustion engines (except automotive gasoline and aircraft).

Global Engine, Turbine, And Power Transmission Equipment Market Size And Drivers:

The global 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 the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $712.24 billion in 2025 at a CAGR of 8%. The engine, turbine, and power transmission equipment manufacturing market growth is aided by stable economic growth forecasted in many developed and developing countries.

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Trends In The Global Engine, Turbine, And Power Transmission Equipment Market

Gas turbine and power generation equipment manufacturers are adopting modular turbine designs to reduce onsite works and offering short installation times. Modular turbine design is a prefabricated electricity generating equipment in a factory, packaged to reduce the timeline to construct a power plant. They are reliable and low-cost equipment to reduce construction, design, installation and delivery times. These modular designs can be prefabricated and delivered not only in gas turbines, but also in other components of power plants such as engine modules, fuel delivery systems, emissions control equipment, heat recovery steam generator (HRSG) modules, generators, pipe racks and other auxiliary systems.

Global Engine, Turbine, And Power Transmission Equipment Market Segments:

The global engine, turbine, and power transmission equipment market is further segmented based on type, capacity and geography.
By Type: Commercial Internal Combustion Engines, Turbine And Turbine Generator Set Units, Mechanical Power Transmission Equipment, Speed Changer, Industrial High-Speed Drive, And Gear.
By Capacity: Small, Medium, Large.
Subsegments Covered: Diesel Powered Internal Combustion Engines, Gasoline Powered Internal Combustion Engines, Natural Gas Powered Internal Combustion Engines, Other Powered Internal Combustion Engines, Steam And Gas Turbine, Wind Turbine, Hydro Turbine, Plain Bearings, Joints, Clutches, Couplings, Pulleys, Chains And Sprockets, Other Mechanical Power Transmission Equipment.
By Geography: The global engine, turbine, and power transmission equipment market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Among these regions, Asia Pacific was the largest region in the global engine, turbine, and power transmission equipment market, accounting for 39% of the total market.

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Engine, Turbine, And Power Transmission Equipment Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides engine, turbine, and power transmission equipment market overviews, analyzes and forecasts market size and growth for the global engine, turbine, and power transmission equipment market, engine, turbine, and power transmission equipment market share, engine, turbine, and power transmission equipment market players, engine, turbine, and power transmission equipment market segments and geographies, engine, turbine, and power transmission equipment market’s leading competitors’ revenues, profiles and market shares. The engine, turbine, and power transmission equipment market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.