Transformer Winding Machines Global Market Report 2023 – By Type (Automatic, Semi Automatic, Manual), By Application (Power, Automobile, Electrical, Electronics, Healthcare, Aerospace And Defense, Others) – Market Size, Trends, And Global Forecast 2023-2032

Wind electricity, which is produced by wind power, refers to the process by which the wind is used to generate mechanical power or electricity. Wind turbines convert the kinetic energy in the wind into mechanical power. The electricity produced is then supplied to electric power transmission systems, which are used to move large quantities of power from generating facilities to substations and to distribution systems, which are used for short distances to transport electricity to customers locally. The main connectivity types in the wind electricity market are on-grid and off-grid. A solar power generation system that is connected to the utility grid is known as an on-grid solar power system. The electricity generated by the system is fed into the grid and used to power various gadgets. The different locations include onshore, and offshore and are implemented in industrial, commercial, and residential sectors. The global wind electricity market is segmented - 1) By Connectivity: On-Grid, Off-Grid 2) By End-User: Industrial, Commercial, Residential 3) By Location: Onshore, Offshore The global wind electricity market size will grow from $129.22 billion in 2022 to $147.35 billion in 2023 at a compound annual growth rate (CAGR) of 14.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global wind electricity is expected to grow to $239.24 billion in 2027 at a CAGR of 12.9%. Growing investments in the clean energy sector are contributing to the growth of the wind electricity market. Clean energy is energy derived from renewable, zero-emissions sources that do not pollute the environment. Solar, hydro, and wind energy are the primary sources of clean energy. For instance, in 2020, according to 'Africa Business Communities', the UK invested over $66.7 million (£50 million) in clean energy projects in Africa. The UK government has invested in advanced, clean technology and is partnering with African countries to develop sustainable energy sources to meet the African energy demand, which is set to increase by 60% by 2040. Growing investments in the clean energy sector to meet energy demand are driving the wind electricity market growth. Major players in the wind electricity market are Ming Yang Smart Energy Group Ltd., NextEra Energy Resources, LLC., Pacific Hydro Pty Ltd., Shell WindEnergy, Inc., TransAlta Corporation, Xinjiang GoldWind Science & Technology Co., Ltd., Berkshire Hathaway Energy, Pattern Energy, IBERDROLA Renewables, EON Climate & Renewables, Alstom, ABO-Wind, Vattenfall, A2 Sea, Tradewind Energy, Geronimo, ReGen Powertech, Leitwind, Doosan Heavy Industries & Construction, Northland Power Inc., Duke Energy Corporation, Electricité de France S.A., American Electric Power (USA), Orsted A/S, DeWind Inc., Dongfang Electric Corporation Limited, Enel Green Power S.p.A., Wind World (India) Limited, Eurus Energy Holdings Corporation, and Guodian United Power Technology Company Limited. Weather conditions have always been a major challenge in the wind electricity market. Weather change is related to the most extreme weather conditions from around the globe. For instance, in 2021, SSE PLC., a UK-based energy company, updated that its renewable assets produced 32% less power than expected as low speeds and dry conditions hit the wind and hydro output. Adverse weather conditions have a negative impact on wind electricity, resulting in a decline in wind power generation. In the wind energy power generation market, hybrid wind-hydro power generation systems have emerged as a key trend. Hybrid wind-hydro power generation systems generate electricity by combining wind turbines and pumped storage. Using these systems, electric power from wind energy is generated around the clock, and electric power from water movement is generated when the water flows down from the reservoirs. When there is surplus energy, the additional water is pumped back into the reservoirs, acting as a large-scale battery. Due to the simultaneous work of wind turbines and hydro turbines, there is a continuous supply of electricity from the plant. For instance, in 2020, India introduced a 30 GW hybrid solar and wind power project in the Kutch district. By 2022, the country intends to increase renewable energy capacity to 175 GW and by 2030, to 450 GW. Power generation companies should consider embracing the hybrid wind-hydro turbine model to improve their electricity generation outputs. In July 2021, Mahindra & Mahindra (M&M), an India-based automotive manufacturer, acquired a 31% share in ReNew Sunlight Energy (RSEPL) for $1.6 billion. By acquiring RSEPL shares, M&M will be able to become an exclusive user and use RSEPL's solar energy. As a result, RSEPL has signed an electrical supply deal with the company. ReNew Sunlight Energy (RSEPL) is an India-based wind energy power generation company. Asia-Pacific was the largest region in the wind electricity market in 2022. Western Europe was the second largest region in the global wind electricity market share. The regions covered in the global wind electricity market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the wind electricity market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, and Australia. The wind electricity market includes revenues earned by entities by horizontal-axis turbines and vertical-axis turbines. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The wind electricity market research report is one of a series of new reports from The Business Research Company that provides wind electricity market statistics, including wind electricity industry global market size, regional shares, competitors with a wind electricity market share, detailed wind electricity market segments, market trends and opportunities, and any further data you may need to thrive in the wind electricity industry. This wind electricity market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The wind turbine refers to a power-generating device that has been driven by the kinetic energy of the wind. A wind turbine turns wind energy into electricity using the aerodynamic force of the rotor blades, which work like an airplane wing or helicopter rotor blade. When wind flows across the blade, the air pressure on one side of the blade will decrease. The main types of wind turbines are the rotator blade, gearbox, generator, nacelle, and others. Rotor blades are the most important parts of a wind turbine for the performance and cost of the wind power system. The shape of the rotor blades has a direct impact on performance as it will determine the conversion of kinetic energy related to the wind to mechanical energy. The axis of a wind turbine is horizontal and vertical and can be deployed onshore and offshore. They can be grid-connected or stand-alone for industrial, commercial, residential, and utility applications. The global wind turbine market is segmented – 1) By Component: Rotator Blade, Gearbox, Generator, Nacelle, Other Components 2) By Axis Type: Horizontal, Vertical 3) By Location of Deployment: Onshore, Offshore 4) By Connectivity Type: Grid Connected, Stand Alone 5) By Application: Industrial, Commercial, Residential, Utility The global wind turbine market grew from $79.13 billion in 2022 to $78.43 billion in 2023 at a compound annual growth rate (CAGR) of 9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of wind turbine is expected to grow to $104.50 billion in 2027 at a CAGR of 7.4%. Increasing demand for renewable energy sources is contributing to the growth of the wind turbine market. A renewable energy source refers to an energy source that is repeatedly replenished without running out. Most of this energy will come from fossil fuels like coal, oil, and natural gas. The wind is a renewable energy source. Overall, using wind to produce energy has fewer effects on the environment than other energy sources. Wind turbines will not release emissions that will pollute the air or water and they do not require water for cooling. Wind turbines will also reduce the amount of electricity generation from fossil fuels, which results in lower total air pollution and carbon dioxide emissions. For instance, according to IEA data 2021, Paris-based autonomous intergovernmental organization, renewable energy use increased by 3% in 2020 as demand for all other fuels declined. Moreover, the amount of electricity generated from renewables is set to increase too by 8% in 2021 and more than 6% in 2022. Increasing demand for renewable energy sources drives the growth of the wind turbine market. Major players in the wind turbine market are Enercon GmbH, Gamesa, General Electric, Goldwind, Guodian United Power Technology Company Ltd., Ming Yang, Sinovel Wind Group Co Ltd., Suzlon Energy Ltd., Vestas Wind Systems A/S, Nordex SE, Senvion, Northern Power Systems, Clipper, Bergey, Impsa, Hitachi Ltd., Vergnet, Xinjiang Goldwind Science And Technology Co Ltd., Eaton Corporation PLC, Windey Co Ltd., Dongfang Electric Corporation, Bilfinger Offshore Wind Energy, ZF Wind Power Antwerpen, Leitwind, Wobben, and LM Windpower. Technological enhancements are a key trend gaining popularity in the wind turbine market. The technology on the offshore direct drive platform allows for the re-use of most components from previous generations. In September 2022, Vestas, a Danish manufacturer of wind turbines, launched an onshore wind turbine tower with a hub height measuring 199 meters, the world’s tallest onshore tower. It is designed to be used by Vestas’ V172-7.2MW turbine. In January 2020, Siemens Gamesa, a Germany-based company that manufactures wind turbines and provides onshore and offshore wind services acquired Senvion for an undisclosed amount. This acquisition of Senvion Siemens Gamesa Renewable Energy’s Service Unit will strengthen its competitive position in Europe by adding approximately 9.0 GW serviced fleet and operations in 13 countries, and by increasing the total serviced fleet to approximately 69 GW globally. Senvion is a Germany-based manufacturer of wind turbines. Asia-Pacific was the largest region in the wind turbine market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in wind turbine market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the wind turbine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The wind turbine market consists of sales of single blade horizontal-axis turbines, two-blade horizontal-axis turbine, three-blade horizontalal-axis turbines. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The wind turbine market research report is one of a series of new reports from The Business Research Company that provides wind turbine market statistics, including wind turbine industry global market size, regional shares, competitors with a wind turbine market share, detailed wind turbine market segments, market trends and opportunities, and any further data you may need to thrive in the wind turbine industry. This wind turbine market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Wind turbine casting refers to components that are cast or moulded according to specifications and then assembled to construct wind energy systems. It is designed to capture the air that flows through them in a small pocket of air, pulling the blade down and causing it to revolve. The main types of wind turbine casting are the horizontal axis and vertical axis. The horizontal axis refers to an axis that is parallel to the ground and is flat and parallel to it. The horizontal axis is utilized in wind turbine casting to create greater power while using less energy, making them excellent for usage in large wind power plants and electricity production. The different materials include copper, glass-reinforced plastic, and concrete, which are applied in onshore and offshore applications. The several end users include industrial, commercial, and residential. The global wind turbine casting market is segmented - 1) By Type: Horizontal Axis, Vertical Axis 2) By Material: Copper, Glass-Reinforced Plastic, Concrete 3) By Application: Onshore, Offshore 4) By End-User: Industrial, Commercial, Residential The global wind turbine casting market size will grow from $2.02 billion in 2022 to $2.17 billion in 2023 at a compound annual growth rate (CAGR) of 7.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The wind turbine casting market size is expected to grow to $2.78 billion in 2027 at a CAGR of 6.4%. Increasing demand for renewable energy is expected to boost the growth of the wind turbine casting market going forward. Renewable energy comes from natural sources that renew themselves more quickly than they are depleted. Renewable energy is becoming more popular because it reduces pollutants and greenhouse gas emissions, both of which contribute to climate change. Wind turbine casting technology is one of the essential components of renewable energy as it helps to reduce the use of fossil fuels and dangerous nuclear power. For instance, according to a report by the International Energy Agency, a France-based autonomous intergovernmental organization, the utilization of renewable energy increased by 3% in 2020. In addition, the proportion of renewable energy in the world's power generation increased from 27% in 2019 to 29% in 2020. Therefore, the rising demand for renewable energy is expected to drive the growth of the wind turbine casting market. Major players in the wind turbine casting market are Suzlon Energy Limited, Sinovel Wind Group Co Ltd., Mingyang Smart Energy Group Co Ltd., Vestas Co, DHI DCW Group Co Ltd., Premier Heavy Engineering Ltd., Goldwind, Enercon, SHW Casting Technologies GmbH & Co, Mingyang Smart Energy Group Co., Ltd., Global Castings, SEFORGE, SAKANA Group, Elyria Foundry Company, Juwi Holding AG, SIMPLEX, AEROVIDE GmbH, and Shandong Longma. Technological advancements have emerged as a key trend gaining popularity in the wind turbine market. Major companies operating in the wind turbine casting market are focused on innovating new technologies to sustain their position. For instance, in September 2021, Siemens Gamesa Renewable Energy, a Germany-based renewable energy company, launched the recyclable wind turbine blade. This wind turbine blade can be recycled at the end of its lifecycle. The recyclable blade recovery technique uses a moderately acidic solution to separate the materials at the end of the wind turbine's lifetime. These materials can then be recycled and repurposed in various industries such as construction, consumer goods, and vehicle manufacturing. In September 2022, SSE Renewables, a UK-based electricity generation company, acquired Siemens Gamesa Renewable Energy existing European renewable energy development platform, for $564.22 million (€580m). With this acquisition, SSE Renewables enters Southern Europe, building its successful renewables business in the UK and Ireland, where it owns and operates 4GW of renewable assets, including nearly 2GW of onshore wind, and has a secured pipeline of over 11GW of onshore wind, offshore wind, and hydro projects. Siemens Gamesa Renewable Energy is a Germany-based company that manufactures wind turbines and provides onshore and offshore wind services. Asia-Pacific was the largest region in the wind turbine casting market in 2022. The regions covered in the wind turbine casting market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the wind turbine casting market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The wind turbine casting market consists of sales of rotor hubs, axle pins, blades, generators, shaft machines, and hydraulics systems. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The wind turbine casting market research report is one of a series of new reports from The Business Research Company that provides wind turbine casting market statistics, including wind turbine casting industry global market size, regional shares, competitors with a wind turbine casting market share, detailed wind turbine casting market segments, market trends and opportunities, and any further data you may need to thrive in the wind turbine casting industry. This wind turbine casting market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Renewable energy refers to energy produced from natural energy sources, such as the sun and wind that are constantly replenished. Renewable energy is used for space and water heating and cooling, electricity generation, and transportation. Renewable energy causes less global warming, improved public health, inexhaustible energy, stable energy prices, reliability, and resilience. The main type of renewable energy is solar energy, wind energy, bioenergy, hydro energy, and geothermal energy. The solar energy type of renewable energy is an energy form that uses solar energy for powering a home, building, water heating, and solar lights, that comes in various capacities such as 0-1,000kwh, 1,100-5,000kwh, more than 5,000kwh, used by residential, commercial, industrial and utility. The global renewable energy market is segmented – 1) By Type: Solar Energy, Wind Energy, Bio Energy, Hydro Energy, Geothermal Energy 2) By Capacity: 0-1,000KWH, 1,100-5,000KWH, More than 5,000KWH 3) By End User: Residential, Commercial, Industrial, Utility The global renewable energy market size will grow from $952.85 billion in 2022 to $1035.69 billion in 2023 at a compound annual growth rate (CAGR) of 8.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global renewable energy is expected to grow to $1404.48 billion in 2027 at a CAGR of 7.9%. An increase in power consumption is expected to propel the growth of renewable energy. Global energy demand is rising due to increased industrial activity and technological advancements in developing and developed countries. Additionally, there is a rapid increase in energy consumption because of the growing world population, which implies growing energy requirements. Due to such an increase in the use of power, there is a need to produce renewable energy because of its improved energy security and reduced risk of fuel spills that emits no greenhouse gases from fossil fuels and decreases certain types of air pollution. For instance, According to Enerdata, the world energy, and climate statistics, the 2022 report states that global electricity consumption increased by +5.5% in 2021, after contracting by 0.7% in 2020 owing to the COVID-19 crisis. Furthermore, according to International Energy Agency, an intergovernmental organization, worldwide electricity demand will increase by about 5% in 2021 and 4% in 2022. Therefore, an increase in power consumption will drive the renewable energy market. Major players in the renewable energy market are ABB Ltd., Acciona Energia SA, EDF SA, Enel Group, General Electric Energy, Geronimo Energy, Innergex, Tata Power Company Limited, Xcel Energy Inc., Invenergy, Siemens Gamesa, First Solar Inc., Vestas Wind Systems AS, Duke Energy Corporation, National Grid Renewables, Iberdrola SA, Jinko Solar Holding Co Ltd., Canadian Solar Inc., and Orsted A/S. Technological advancement is a key trend gaining popularity in the renewable energy market. Renewable technologies are recognized as green energy sources. The effective utilization of these resources minimizes environmental consequences, produces minimal secondary waste, and is sustainable in light of present and projected economic and societal needs. Recently, the market has witnessed the use of bio-mass energy and dual-module solar systems that can significantly reduce greenhouse gas emissions. Major companies in the renewable energy market are advancing in their new technologies and research and development to sustain their market position. For instance, In March 2022, Gautam Solar, an India-based Solar panels manufacturer, launched a G-2X dual-generation monocrystalline technology solar modules. This Gautam Solar module provides power from both the front and back of the module, making it ideal for use in rooftop and ground-mounted solar power plants, creating an additional 10%- 30% extra power generation. The solar module's combined front and back efficiency go up to 25.72%. This G-2X mono series will save BOS and installation costs while increasing electricity generation by up to 30% in the same available space. In February 2022, Chevron Corporation, a US-based energy industry company, acquired Renewable Energy Group, Inc., for $3.15 billion. This acquisition enhances REG's rising renewable fuel production and superior feedstock capabilities combined with Chevron's significant production, distribution, and commercial marketing. Renewable Energy Group, Inc., is a US-based biodiesel production company. Asia-Pacific was the largest region in the renewable energy market in 2022. North America is expected to be the fastest-growing region in the renewable energy market share during the forecast period. The regions covered in the renewable energy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the renewable energy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The renewable energy market includes revenues earned by entities by nuclear energy, biomass and bioenergy, and applied energy. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The renewable energy market research report is one of a series of new reports from The Business Research Company that provides renewable energy market statistics, including the renewable energy industry global market size, regional shares, competitors with a renewable energy market share, detailed renewable energy market segments, market trends and opportunities, and any further data you may need to thrive in the renewable energy industry. This renewable energy market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The engine, turbine, and power transmission equipment are machines including engine, turbine, and power transmission. The engine is used to move things, a turbine is used to convert rotational energy into usable work or energy and power transmission is used to transfer of mechanical energy from a prime mover to a driven machine. Commonly turbine equipment is used in the generation of electric power. The main types of engine, turbine and power transmission equipment are commercial internal combustion engines, turbine and turbine generator set units, mechanical power transmission equipment, speed changer, industrial high-speed drive, and gear. Internal combustion engines refer to the internal combustion engines that generate motive power and produce hot gas to drive a piston. The various cAsia-Pacificity includes small, medium, and large. The various end-users involved are automotive, manufacturing, industrial, and other end-users. The global engine, turbine, and power transmission equipment market is segmented - 1) By Type: Commercial Internal Combustion Engines, Turbine And Turbine Generator Set Units, Mechanical Power Transmission Equipment, Speed Changer, Industrial High-Speed Drive, And Gear 2) By Capacity: Small, Medium, Large 3) By End-Users: Automotive, Manufacturing, Industrial, Other End-Users 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 The global engine, turbine, and power transmission equipment market size grew from $571.79 billion in 2022 to $621.6 billion in 2023 at a compound annual growth rate (CAGR) of 8.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global engine, turbine, and power transmission equipment market is expected to grow to $837.61 billion in 2027 at a CAGR of 7.7%. The engine, turbine, and power transmission equipment manufacturing market growth is aided by stable economic growth forecasted in many developed and developing countries. The International Monetary Fund (IMF) predicts that the global GDP growth will be 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. Stable economic growth is expected to increase investments in the end-user markets, thereby driving the market during the forecast period. Major companies in the engine, turbine, and power transmission equipment market include Caterpillar Inc., Vestas Wind Systems A/S, Mitsubishi Heavy Industries Ltd., Siemens AG, Goldwind, Doosan Heavy Industries & Construction Co. Ltd., SKF Group, Baker Hughes Co, Cummins Inc., and Nordex SE. The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the engine, turbine, and power transmission equipment manufacturing market in 2020 as supply chains were disrupted due to trade restrictions and manufacturing activity declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and spread globally including Western Europe, North America, and Asia. Machinery manufacturers depend heavily on the supply of raw materials, parts, and components from different countries across the globe. As many governments restricted the movement of goods across countries, manufacturers had to halt production due to a lack of raw materials and components. The outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the engine, turbine, and power transmission equipment manufacturing market will recover from the shock across the forecast period as it is a 'black swan event and not related to ongoing or fundamental weaknesses in the market or the global economy. Gas turbine and power generation equipment manufacturers are adopting modular turbine designs to reduce onsite work and offer short installation times. The modular turbine design is 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. Major companies providing modular turbine designs are VESTAS, ENERCON, and GE. For instance, in July 2022, WEG launched a 7 MW wind turbine and a 172 meters rotor diameter for improving output for wind generation projects. With its Medium-Speed Geared (MSG) drive technology and full power drive, the unit can seamlessly interconnect with the electrical grid. Additionally, the new design includes modular components, such as a taller tower, to simplify logistics operations and provide an easier assembly concept . The Asia-Pacific was the largest region in the engine, turbine, and power transmission equipment market share in 2022. Western Europe was the second largest region in the engine, turbine, and power transmission equipment market The regions covered in the global engine, turbine, and power transmission equipment industry report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the engine, turbine, and power transmission equipment market include Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The engine, turbine, and power transmission equipment market consist of sales of equipment including turbines, equipment for power transmission, and internal combustion engines (except the automotive gasoline and aircraft), among others. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The engine, turbine, and power transmission equipment market research report are one of a series of new reports from The Business Research Company that provides engine, turbine, and power transmission equipment market statistics, including engine, turbine, and power transmission equipment industry global market size, regional shares, competitors with an engine, turbine, and power transmission equipment market share, detailed engine, turbine, and power transmission equipment market segments, market trends and opportunities, and any further data you may need to thrive in the engine, turbine, and power transmission equipment industry. This engine, turbine, and power transmission equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The steam turbine refers to a machine that converts thermal energy from pressurized steam and transforms it into mechanical work on a rotating output shaft. It uses heat sources such as gas, coal, nuclear, and solar to heat water at extremely high temperatures until it is converted into steam. The main parts of stream turbines are rotors and blades. The main types of plants types using steam turbines are gas, coal, nuclear, and others. The gas steam turbines use gas as a source to generate steam. Gas is used to heat water to extremely high temperatures until it is converted into steam. Steam turbines usually come in two designs, namely reaction and impulse, and have the capacities of rated power (60 MW), rated power (60–200 MW), and rated power (> 200 MW). Steam turbines use technologies such as steam cycle, combined cycle, and cogeneration and are used in end-use industries such as power, utility, and industrial. The global steam turbine market is segmented - 1) By Plant Type: Gas, Coal, Nuclear, Other Plant Types 2) By Capacity: Rated Power (<60MW), Rated Power (60-200MW), Rated Power (>200MW) 3) By Technology: Steam Cycle, Combined Cycle, Cogeneration 4) By Design: Reaction, Impulse 5) By End-Use Industry: Power And Utility, Industrial The global steam turbine market size grew from $16.94 billion in 2022 to $17.59 billion in 2023 at a compound annual growth rate (CAGR) of 3.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, causing inflation across goods and services and affecting many markets across the globe. The market size of global steam turbine market is expected to grow to $21.02 billion in 2027 at a CAGR of 4.6%. The increase in focus on renewable energy is expected to propel the growth of the steam turbine market. Renewable energy, also identified as clean energy, provides consistent power supplies and fuel diversification, improving energy security and reducing the risk of fuel spills. The primary focus on renewable energy is to advance economic development, improve energy security, enhance access to power, and mitigate climate change. The increasing focus on renewable energy creates demand for steam turbines as these are a source of clean energy to produce electricity with no/less environmental impact. For instance, according to the renewable energy industry report by the India Brand Equity Foundation (IBEF), as of January 2022, India’s installed renewable energy capacity stood at 152.36 GW, accounting for 38.56% of total installed power capacity. Power generation from renewable energy sources reached 13.15 billion units (BU) in January 2022, increasing from 11.51 BU in January 2021. Therefore, increasing focus on renewable energy will drive the growth of the steam turbine market. Major players in the steam turbine market are General Electric (GE) Co, Fuji Electric, Toshiba Corporation, Siemens, Arani Power Systems, Elliott Group, Doosan Škoda Power, Chola Turbo Machinery International Pvt Ltd., Mitsubishi Hitachi Power Systems, Ansaldo Energia, Bharat Heavy Electricals Limited, MAN Energy Solutions, DONGFANG TURBINE, Kawasaki Heavy Industries, Harbin Electric, AIstom SA, Toshiba JSW Power Systems Private Limited, Kessels Steam Turbines and Hyundai Heavy Industries. Environmentally friendly and efficient cogeneration process is a key trend in the steam turbine market. Joint production or cogeneration or combined heat and power (CHP) is a method in which a simple cycle gas turbine generates electricity and steam and additional steam for other actions like drying. This method is being used in various steam turbines, proving much more efficient than other processes. This process recovers heat from energy loss pathways and uses it to generate electricity. The CHP method can produce electricity concurrently and useful thermal energy from a single source of fuel. For instance, in May 2020, MAN Energy Solutions, a German-based manufacturing company gave the contract for two MST050 steam turbines to employ in the operation of a CHP power plant by the German public utility company Stadtwerke Leipzig. The CHP power plant uses an environment-friendly cogeneration process to use the remaining heat for district heating networks. In February 2022, EDF, a French electric utility company announced the acquisition of American General Electric Company (GE) for an undisclosed amount. Through this deal, EDF has acquired GE’s subsidiary GE Steam Power’s activities related to the nuclear steam turbine business and aims to create a global steam turbine equipment and services provider within the EDF group. General Electric Company is a US-based company offering technologies and services primarily for nuclear and coal power plants, including steam turbines, though its subsidiary GE Steam Power. Western Europe was the largest region in the steam turbine market share in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the global steam turbine industry report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the steam turbine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The steam turbine market consists of sales of the steam turbine including back-pressure steam turbines, extraction steam turbines, and condensing steam turbines. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The steam turbines market research report is one of a series of new reports from The Business Research Company that provides steam turbines market statistics, including steam turbines industry global market size, regional shares, competitors with a steam turbines market share, detailed steam turbines market segments, market trends and opportunities, and any further data you may need to thrive in the steam turbines industry. This steam turbines market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

A transformer transfers energy from one circuit to another. These increase or decrease voltage and current levels, increase or decrease capacitor value, prevent direct current from passing between two circuits, and isolate circuits. They are used in the manufacturing of power, distribution, and specialty transformers. The main types of transformers are power transformers and distribution transformers. The power transformer is a type of transformer that is used to transfer electrical energy between the generator and the distribution primary circuits. In distribution systems, these transformers are used to connect step-up and step-down voltages. It is available as a low-rated transformer and a high-rated transformer that are used by utilities, residential, commercial, and industrial end users. The global transformer market is segmented - 1) By Transformer Type: Power Transformer, Distribution Transformer 2) By Type: Low Rated Transformer, High Rated Transformer 3) By End User: Utility, Residential & Commercial, Industry The global transformer market size will grow from $82.22 billion in 2022 to $89.05 billion in 2023 at a compound annual growth rate (CAGR) of 8.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global transformer is expected to grow to $117.73 billion in 2027 at a CAGR of 7.2%. Favourable government policies to increase electrification will contribute to the growth of the transformers market in the forecast period. Countries around the world are implementing several initiatives to increase electrification across countries. For example, in October 2021, the UK government introduced a plan to decarbonize the electricity system by 2030. These initiatives will increase the market for medium power transformers in the forecast period. The increasing demand for medium, low and high-power transformers supported by favourable government initiatives will positively impact the transformers market growth. Major players in the transformers market are ABB, General Electric Corporation, Schneider Electric S.A., Mitsubishi Electric Corporation, Schneider Electric, Mitsubishi Electricis, Toshiba Corporation, Siemens, SGB-SMIT, and Hammond Power Solutions. Instability in the pricing of raw materials is a major restraint in the transformers manufacturing market. The instability is due to the volatility in the raw material prices of steel, copper, and crude oil. Steel and copper are predominantly used in the manufacture of transformers. Increased tariffs on raw materials such as steel and copper, increased the volatility of prices, thereby limiting the growth of the market for medium power transformers. For instance, in February 2020, the USA administration decided to raise tariffs on derivative steel and aluminium imports by 25% and 10%, respectively. The increase in prices leads to an increase in operating expenses thereby hampering the transformers market growth. The Transformers market is moving towards the evolution of independent and self-regulating smart transformers. Smart transformers are programmed to constantly regulate voltage and maintain contact with the stakeholders and provide information and feedback on the power supply. They provide the exact amount of power that is needed and respond to fluctuations through a process known as voltage optimization. They significantly reduce greenhouse gas emissions and power consumption as they supply electrical equipment with the ideal amount of power. For instance, in 2021, Hitachi ABB Power Grids collaborated with Nanyang Technological University, Singapore (NTU Singapore) on a government-led smart grid development project. The two organizations will collaborate to advance developments in Solid State Transformer (SST) technology, led by the Energy Research Institute and supported by the National Research Foundation of Singapore. The project is part of Singapore's Energy Grid 2.0 initiative, which aims to shape the next-generation grid system and transform energy management by combining multiple energy sources into a single intelligent network that is more efficient, sustainable, and resilient. In October 2021, Royal SMIT transformers, a Netherland-based electrical equipment company acquired DNV for an undisclosed amount. Through this acquisition, SGB-SMIT Group strengthens its services in a high-quality transformer’s portfolio. DNV is a Norway-based independent company operating in transformers. Asia-Pacific was the largest region in the transformers market in 2022. Western Europe was the second-largest region in the global transformer market analysis. The regions covered in the global transformer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the transformers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The transformer market consists of sales of instrument transformers, medium-power transformers, and other types. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The transformers market research report is one of a series of new reports from The Business Research Company that provides transformers market statistics, including transformers industry global market size, regional shares, competitors with a transformers market share, detailed transformers market segments, market trends, and opportunities, and any further data you may need to thrive in the transformers industry. This transformers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

A machine is an equipment with several moving parts that are mechanically, electrically, or electronically operated to perform a specific task. The main types of machinery are automatic and semi-automatic. Automatic machinery refers to machinery that works automatically without human intervention. The specificities are small, medium, and large. The various applications are automotive, precision engineering, transport, and other applications. The global machinery market is segmented - 1) By Type: Automatic, Semi-Automatic 2) By Capacity: Small, Medium, Large 3) By Application: Automotive, Precision Engineering, Transport, Other Applications Subsegments Covered: Construction Machinery, Agricultural Implement, Mining And Oil And Gas Field Machinery, Woodworking And Paper Machinery, Other Industrial Machinery, Printing Machinery And Equipment, Semiconductor Machinery, Food Product Machinery, Other Commercial And Service Industry Machinery, Photographic And Photocopying Equipment, Optical Instrument And Lens, HVAC And Commercial And Industrial Refrigeration Equipment, Commercial Fan And Air Purification Equipment, Heating Equipment (except Warm Air Furnaces), Special Die And Tool, Die Set, Jig, And Fixture, Machine Tool, Industrial Mold, Rolling Mill And Other Metalworking Machinery, Cutting Tool And Machine Tool Accessory, Commercial Internal Combustion Engines, Turbine And Turbine Generator Set Units, Mechanical Power Transmission Equipment, Speed Changer, Industrial High-Speed Drive, And Gear The global machinery market size grew from $3,542.77 billion in 2022 to $3,810.37 billion in 2023 at a compound annual growth rate (CAGR) of 7.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global machinery market is expected to grow to $4,928.07 billion in 2027 at a CAGR of 6.6%. Rapid advances in technology are expected to drive innovation in machinery manufacturing, thus driving the market during the forecast period. Furthermore, technologies such as 3D printing, artificial intelligence, and big data analytics are being used in manufacturing thus resulting in higher productivity, lower operating costs, and higher margins. For instance, according to a global survey by The Economist Intelligence Unit, about 90% of corporate executives felt that artificial intelligence (AI) will have a positive impact on a company’s growth and 86% of respondents considered that AI will help improve productivity. Lower operating costs lead to higher margins, this allows companies to increase product portfolios and enter new markets by making investments made through cost savings. IoT applications are also being integrated into these devices to enable services such as remote monitoring, and central feedback systems and to offer other services. Mobile applications, advanced sensors, and embedded software also created new opportunities for companies in this market. These factors are expected to drive the machinery manufacturing market during the forecast period. Major companies in the machinery market include Caterpillar Inc., Deere & Company, Hitachi Ltd., Mitsubishi Heavy Industries Ltd., Komatsu Ltd., Johnson Controls International plc, Gree Electric Appliances Inc., Midea Group co Ltd., Canon Inc., and Tetra Laval International S.A. The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the machinery manufacturing market in 2020 as supply chains were disrupted due to trade restrictions and manufacturing activity declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and spread globally including Western Europe, North America, and Asia. Machinery manufacturers depend heavily on the supply of raw materials, parts, and components from different countries across the globe. As many governments restricted the movement of goods across countries, manufacturers had to halt production due to a lack of raw materials and components. The outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the machinery manufacturing market will recover from the shock across the forecast period as it is a 'black swan event and not related to ongoing or fundamental weaknesses in the market or the global economy. HVAC systems are being integrated with building automation systems for the overall management of a building to maximize energy efficiency. BAS receives analog or digital inputs from the sensors installed in HVAC and the integrated system is managed by a single dashboard accessed from a computer. These integrated systems improve building performance, save energy, and shrink the environmental footprint. HVAC systems account for 60-70% of the total energy consumption of a typical commercial building, thus integrated systems enable commercial establishments to reduce power consumption. For example, advanced BAS technology integrates lighting, water, elevators, security, and HVAC systems into a single automated platform. An integrated lighting and HVAC system automatically controls the lighting and temperature to ideal levels, thus reducing energy consumption and costs. GE and Trane are offering solutions that integrate HVAC with BAS. The Asia-Pacific was the largest region in the machinery market in 2022. Western Europe was the second largest region in the machinery market. The regions covered in the this machinery market analyis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the machinery market include Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The machinery market consists of sales of industrial and commercial machinery such as farm machinery and equipment, construction machinery, oil and gas field and underground mining machinery and equipment, food and beverage manufacturing machinery, semiconductor manufacturing machinery, sawmill and woodworking machinery (except handheld), printing and binding machinery and equipment, photographic and photocopying equipment, automatic vending machinery, commercial laundry and dry-cleaning machinery, office machinery, automotive maintenance equipment (except mechanics' hand tools), commercial-type cooking equipment and machinery for making paper products, textiles, plastic products, rubber products and optical instruments. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. the value of goods in this market includes related services sold by the creators of the goods. The machinery market is segmented into agriculture, construction, and mining machinery; industrial machinery; commercial and service industry machinery; ventilation, heating, air-conditioning, and commercial refrigeration equipment; metalworking machinery; engine, turbine, and power transmission equipment; and other general purpose machinery. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The machinery market research report is one of a series of new reports from The Business Research Company that provides machinery market statistics, including machinery industry global market size, regional shares, competitors with a machinery market share, detailed machinery market segments, market trends, and opportunities, and any further data you may need to thrive in the machinery industry. This machinery market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.