An established equipment and machinery company from the U.S. was interested in the global steam turbine market and its regional growth prospects. The client was also involved in the analysis of power generation trends around the globe.
We initiated the report with secondary research to gain insights into market dynamics, drivers, restraints, opportunities, regional power generation trends, industrial power generation plants, and competitive analysis.
In the next step, we continued with primary data collection through extensive interviews with industry experts working in similar fields. Later, market sizing and growth trends for each country were revalidated, and company market shares were estimated.
In line with client requirements, a dedicated study on power generation trends was provided with the report. The section comprises country-wise power generation trends, alternative ways of power generation, energy demand/consumption analysis, and regulatory framework.
The report provided detailed insights into the steam turbine market at a country level for the duration of 2014–2028. The historical data and sales data of leading steam turbine manufacturers were estimated using primary insights. The forecast was derived from the data triangulation method, consisting of top-down, bottom-up, and company market share analysis. The manufacturer modified its operational process based on our recommendations, optimized its supply chain network, and reduced procurement costs.
The report on the global steam turbine market helped the client understand the market trends, country-level power generation capacity through steam turbines, growth drivers, competitive intensity, and detailed market estimations and forecast till 2028.