World Turbines Market

  • March 2013
  • -
  • Freedonia
  • -
  • 437 pages

World demand to rise 6.5% annually through 2016

The world market for turbines and related products (turbine-based engines, generators, and generator sets) is forecast to rise 6.5 percent annually to $165 billion in 2016. This will represent a deceleration from the pace of the 2006-2011 period, primarily caused by a slowdown in sales of wind turbines. The global wind turbine market expanded at an annual rate in excess of 20 percent between 2001 and 2011 to become the single largest turbine product segment, ahead of turbine engines. Wind turbines will continue to be the fastest growing turbine product type through 2016, but a much higher base of existing capacity will keep growth to a more moderate level.

Demand for gas combustion turbines is expected to accelerate to a 7.3 percent annual growth rate through 2016. The market for gas turbines will benefit from the ongoing global shale gas boom. The development of shale resources in the US has led to significantly lower gas prices in North America. Over the next decade, as the US expands its infrastructure for exporting gas overseas and other countries develop their own shale resources, global gas prices should fall substantially as well. This will lead to increased investment in natural gas plants for power generation, spurring expanded demand for gas turbines.

China, US to remain key turbine markets

Between 2006 and 2011, the global turbine market in China posted a 28 percent annual growth rate, by far the fastest in the world. The largest of these gains occurred in the wind turbine market, which saw demand multiply by a factor of more than 10. China has become the largest market for wind turbines in the world, accounting for 43 percent of existing global capacity in MW terms at year-end 2011. The fastest growth in turbine demand will occur in Australia, which is investing heavily in wind power in order to reduce its dependence on carbon.

Central and South America will register the fastest turbine demand growth among world regions through 2016, increasing 7.8 percent per annum through that year. Gains in that region will be headed by Brazil, which represents a strong growth market for both power generation turbines and turbine-based aircraft engines.

The Africa/Mideast region will also post rapid gains, though it will remain a small regional market for turbine products. The US, which is the second largest national market for turbine products behind China, will grow at an aboveaverage pace through 2016, aided by an expanding market for gas turbines in power generation applications and continued healthy gains in demand for wind turbines. Mexico, fueled by increasing development of wind power, will be the second fastest growing market for turbine products worldwide through 2016. Western Europe will remain the slowest growing regional market for turbine products, largely due to the maturity of its wind energy sector. However, the region still holds significant potential for offshore wind power, and gains in wind turbine demand will accelerate relative to the 2006-2011 period.

Study coverage

Details on these and other findings are contained in this upcoming Freedonia industry study, World Turbines, available for $6100. It presents historical demand data (2001, 2006 and 2011) as well as forecasts for 2016 and 2021 by turbine type, application, world region, and for 22 countries. The study also assesses market environment factors, evaluates company market share, and profiles industry competitors worldwide, such as Alstom, GE Aviation, GE Energy, Rolls- Royce, SAFRAN, Siemens, Vestas, and United Technologies.

Table Of Contents

TABLE OF CONTENTS

INTRODUCTION xi

I. EXECUTIVE SUMMARY 1

II. MARKET ENVIRONMENT 4

General 4
World Population Outlook 5
World Economic Overview 6
Recent Historical Trends 6
World Economic Outlook 8
World Industrial Overview 12
World Manufacturing Outlook 13
World Fixed Investment Outlook 15
Aerospace Equipment Manufacturing Trends 17
World Electric Power Generation Outlook 21
Electricity Generation 21
Distributed Power/Micropower 23
World Wind Energy Overview 24
Turbine Pricing Patterns 26
Turbine Technology Trends 28
Basic Turbine Operation and Actuation Methods 29
Alternative/Competitive Power Sources 31
Photovoltaics 32
Fuel Cells 33
Environmental and Regulatory Issues 35

III. OVERVIEW 38

General 38
World Turbine Markets 39
Regional Markets 41
Applications 43
Electric Power Generation 45
Aircraft Engines 47
Marine and Other 53
Products 54
Wind 56
Gas Combustion 60
Steam and Hydraulic 63
Turbine Engines 66
Turbine Generators and Generator Sets 70
World Turbine Production 72
International Trade 75

IV. NORTH AMERICA 78

General 78
Supply and Demand 79
Outlook and Suppliers 81
United States 84
Canada 92
Mexico 98

V. WESTERN EUROPE 104

General 104
Supply and Demand 105
Outlook and Suppliers 108
Belgium 110
Denmark 115
France 120
Germany 126
Italy 132
Netherlands 137
Spain 142
Sweden 148
Switzerland 152
United Kingdom 157
Other Western Europe 163

VI. ASIA/PACIFIC 168

General 168
Supply and Demand 169
Outlook and Suppliers 171
Australia 173
China 178
India 187
Japan 193
South Korea 200
Other Asia/Pacific 206

VII. OTHER REGIONS 212

Central and South America 212
General 212
Supply and Demand 213
Outlook and Suppliers 215
Brazil 217
Other Central and South America 223
Eastern Europe 227
General 227
Supply and Demand 228
Outlook and Suppliers 231
Czech Republic 232
Poland 237
Russia 242
Other Eastern Europe 248
Africa/Mideast 254
General 254
Supply and Demand 255
Outlook and Suppliers 257

VIII. INDUSTRY STRUCTURE 260

General 260
Industry Composition and Market Share 263
Electric Power Generation 265
Aircraft Engines 267
Product Development and Manufacturing 269
Marketing and Distribution 270
Financial Issues and Requirements 271
Mergers and Acquisitions 273
Cooperative Agreements 277
Company Profiles 301
ABB Limited 302
Acciona SA 304
Alstom SA 306
Ansaldo Energia, see Finmeccanica
Avio SpA 310
Bharat Heavy Electricals Limited 317
BHEL-GE Gas Turbine Services, see Bharat Heavy
Electricals and General Electric
Capstone Turbine Corporation 319
Caterpillar Incorporated 321
CFE, see General Electric and Honeywell International
CFM International, see General Electric and SAFRAN
China Chang Jiang Energy Corporation 324
Dongfang Electric Corporation 326
Doosan Heavy Industries and Construction
Company Limited 328
Dresser-Rand Group Incorporated 331
Enercon GmbH 334
Engine Alliance, see General Electric and United
Technologies
EPI Europrop International, see MTU Aero Engines
Holding, Rolls-Royce Holdings, and SAFRAN
EUROJET Turbo, see Avio, MTU Aero Engines Holding,
and Rolls-Royce Holdings
EUTurbines, see Alstom, Caterpillar, Doosan Heavy
Industries and Construction, Dresser-Rand Group,
Finmeccanica, General Electric, MAN, Rolls-Royce
Holdings, and Siemens
Famat, see General Electric and SAFRAN
Finmeccanica SpA 335
Gamesa Corporación Tecnólogica SA 338
GE Aviation, see General Electric
GE Honda Aero Engines, see General Electric
General Electric Company 340
GKN plc 351
Hamilton Sundstrand, see United Technologies
Hitachi Limited 357
Hitachi Mitsubishi Hydro, see Hitachi and Mitsubishi
Heavy Industries
Honeywell International Incorporated 360
IAE International Aero Engines, see IHI
IHI Corporation 363
LandT-MHI Turbine Generators Private, see Mitsubishi
Heavy Industries
Light Helicopter Turbine Engine, see Honeywell
International and Rolls-Royce Holdings
MAN SE 367
Microturbo, see SAFRAN
Mitsubishi Heavy Industries Dongfang Gas Turbine
Guangzhou, see Dongfang Electric and Mitsubishi
Heavy Industries
Mitsubishi Heavy Industries Limited 370
MTU Aero Engines Holding GmbH 377
MTU Turbomeca Rolls-Royce, see MTU Aero Engines
Holding, Rolls-Royce Holdings, and SAFRAN
MTU Turbomeca Rolls-Royce ITP, see MTU Aero
Engines Holding and Rolls-Royce Holdings
Nordex SE 385
Pratt and Whitney, see United Technologies
REpower Systems, see Suzlon Energy
Rolls-Royce Holdings plc 388
Rolls-Royce Snecma, see Rolls-Royce Holdings
and SAFRAN
Rolls-Royce Turbomeca, see Rolls-Royce Holdings
and SAFRAN
SAFRAN SA 398
Siemens AG 406
Sinovel Wind Group Company Limited 410
Skoda Power sro, see Doosan Heavy Industries
and Construction
Snecma, see SAFRAN
Solar Turbines, see Caterpillar
Suzlon Energy Limited 412
Techspace Aero, see SAFRAN
Tidal Generation, see Alstrom
Toshiba Corporation 416
Toshiba GE Turbine Components, see General Electric
and Toshiba
Toshiba GE Turbine Services, see General Electric
and Toshiba
Toshiba IHI Power Systems, see IHI and Toshiba
Turbo-Union, see Avio, MTU Aero Engines Holding,
and Rolls-Royce Holdings
Turbomeca, see SAFRAN
United Technologies Corporation 420
VENSYS Energy, see Xinjiang Goldwind Science
and Technology
Vericor Power Systems, see MTU Aero Engines Holding
Vestas Wind Systems A/S 429
Voith GmbH 433
Voith Hydro Holding, see Siemens and Voith
Volvo AB 436
Volvo Aero, see GKN
Xian Avio XAE Aviation Components, see Avio
Xinjiang Goldwind Science and Technology
Company Limited 437



LIST OF TABLES

SECTION I -- EXECUTIVE SUMMARY

Summary Table 3

SECTION II -- MARKET ENVIRONMENT

1 World Population by Region 6
2 World Gross Domestic Product by Region 12
3 World Manufacturing Value Added by Region 15
4 World Fixed Investment by Region 17
5 World Aerospace Equipment Shipments by Region 20
6 World Electric Power Generation by Region 23
7 World Wind Power by Country, 2011 26

SECTION III -- OVERVIEW

1 World Turbine Product Demand by Region 42
2 World Turbine Product Demand by Application 44
3 World Electric Power Generation Turbine Product Demand
by Region 47
4 World Turbine-Based Aircraft Engine Demand by Region 49
5 Turbine Engine Producers for Selected Aircraft 50
6 World Marine and Other Applications Turbine Product Demand
by Region 54
7 World Turbine Product Demand by Type 55
8 World Wind Turbine Demand by Region 60
9 World Gas Combustion Turbine Demand by Region 63
10 World Steam and Hydraulic Turbine Demand by Region 66
11 World Turbine Engine Demand by Region 70
12 World Turbine Generator and Generator Set Demand by Region 72
13 World Turbine Product Shipments by Region 74
14 World Turbine Product Net Exports by Region 77

SECTION IV -- NORTH AMERICA

1 North America: Turbine Product Supply and Demand 81
2 North America: Turbine Product Demand by Application 83
3 United States: Turbine Product Supply and Demand 88
4 United States: Turbine Product Demand by Application 91
5 Canada: Turbine Product Supply and Demand 95
6 Canada: Turbine Product Demand by Application 97
7 Mexico: Turbine Product Supply and Demand 101
8 Mexico: Turbine Product Demand by Application 103

SECTION V -- WESTERN EUROPE

1 Western Europe: Turbine Product Supply and Demand 108
2 Western Europe: Turbine Product Demand by Application 110
3 Belgium: Turbine Product Supply and Demand 113
4 Belgium: Turbine Product Demand by Application 115
5 Denmark: Turbine Product Supply and Demand 118
6 Denmark: Turbine Product Demand by Application 120
7 France: Turbine Product Supply and Demand 123
8 France: Turbine Product Demand by Application 125
9 Germany: Turbine Product Supply and Demand 129
10 Germany: Turbine Product Demand by Application 132
11 Italy: Turbine Product Supply and Demand 135
12 Italy: Turbine Product Demand by Application 137
13 Netherlands: Turbine Product Supply and Demand 140
14 Netherlands: Turbine Product Demand by Application 142
15 Spain: Turbine Product Demand Supply and Demand 145
16 Spain: Turbine Product Demand by Application 147
17 Sweden: Turbine Product Supply and Demand 150
18 Sweden: Turbine Product Demand by Application 152
19 Switzerland: Turbine Product Supply and Demand 155
20 Switzerland: Turbine Product Demand by Application 157
21 United Kingdom: Turbine Product Supply and Demand 160
22 United Kingdom: Turbine Product Demand by Application 162
23 Other Western Europe: Turbine Product Supply and Demand 165
24 Other Western Europe: Turbine Product Demand
by Application 167

SECTION VI -- ASIA/PACIFIC

1 Asia/Pacific: Turbine Product Supply and Demand 171
2 Asia/Pacific: Turbine Product Demand by Application 173
3 Australia: Turbine Product Supply and Demand 176
4 Australia: Turbine Product Demand by Application 178
5 China: Turbine Product Supply and Demand 182
6 China: Turbine Product Demand by Application 187
7 India: Turbine Product Supply and Demand 191
8 India: Turbine Product Demand by Application 193
9 Japan: Turbine Product Supply and Demand 197
10 Japan: Turbine Product Demand by Application 200
11 South Korea: Turbine Product Supply and Demand 203
12 South Korea: Turbine Product Demand by Application 205
13 Other Asia/Pacific: Turbine Product Supply and Demand 209
14 Other Asia/Pacific: Turbine Product Demand by Application 211

SECTION VII -- OTHER REGIONS

1 Central and South America: Turbine Product Supply and Demand 215
2 Central and South America: Turbine Product Demand
by Application 217
3 Brazil: Turbine Product Supply and Demand 220
4 Brazil: Turbine Product Demand by Application 222
5 Other Central and South America: Turbine Product Supply
and Demand 225
6 Other Central and South America: Turbine Product Demand
by Application 227
7 Eastern Europe: Turbine Product Supply and Demand 230
8 Eastern Europe: Turbine Product Demand by Application 232
9 Czech Republic: Turbine Product Supply and Demand 235
10 Czech Republic: Turbine Product Demand by Application 237
11 Poland: Turbine Product Supply and Demand 240
12 Poland: Turbine Product Demand by Application 242
13 Russia: Turbine Product Supply and Demand 245
14 Russia: Turbine Product Demand by Application 248
15 Other Eastern Europe: Turbine Product Supply and Demand 251
16 Other Eastern Europe: Turbine Product Demand
by Application 253
17 Africa/Mideast: Turbine Product Supply and Demand 257
18 Africa/Mideast: Turbine Product Demand by Application 259

SECTION VIII -- INDUSTRY STRUCTURE

1 Turbine Product Sales by Company, 2011 262
2 Selected Acquisitions and Divestitures 275
3 Selected Cooperative Agreements 280



LIST OF CHARTS

SECTION III -- OVERVIEW

1 World Turbine Product Demand by Region, 2011 43
2 World Turbine Product Demand by Application, 2011 45
3 World Turbine Product Demand by Type, 2011 56
4 World Turbine Product Shipments by Region, 2011 75

SECTION VIII -- INDUSTRY STRUCTURE

1 World Turbine Product Market Share by Company, 2011 264
2 World Electric Power Generation Turbine Market Share by
Company, 2011 266
3 World Turbine-Based Aircraft Engine Market Share
by Company, 2011 269

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