As per the report titled ‘North America Steam Turbine Market Size By Design, Exhaust, Fuel, End-use, Technology, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 a?? 2026’, available with Market Study Report, North America steam turbine market is projected to garner substantial revenues by the year 2026.
 

Stringent government directives towards curbing carbon emissions, coupled with extensive construction of industrial establishments are the key propellers of North America steam turbine market trends. Further, increasing requirement of bridging the gap between supply and demand of electricity will render a positive impact on the business landscape. On the contrary, shutdown of various industries and reduced operations due to the Covid-19 pandemic is negatively impacting the North America steam turbine industry expansion, cites the study.
 

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Based on design, North America steam turbine industry is split into reaction and impulse, among which the former segment is set to gain considerable traction in the upcoming years. Provision of high steam velocity, high-power generation capacity, and better productivity are the key benefits which are encouraging the adoption of reaction steam turbines. Moreover, higher energy efficiency and large scale generation capabilities will boost the product demand in the upcoming years.
 

In terms of exhaust, North America steam turbine industry share is divided into condensing and non-condensing. Condensing segment is set to generate high demand chiefly due to the product’s ability to generate large volumes of electricity with flexibility in regulating power output.
 

Elaborating on fuel type, steam turbine industry in North America is divided into fossil fuel, biomass, and geothermal. Rising investments in the renewable sectors, along with government incentives for promoting low emission fuels drives the biomass segment growth. Shifting consumer focus towards energy optimization, adoption sustainable sources, and reducing carbon footprint are strengthening the demand for steam turbines that operate on biomass.
 

Speaking of the end-use spectrum, North America steam turbine industry is fragmented into industrial, chemical plant, refinery, sugar plant, utility, pulp & paper, and others. Industrial segment is set to flourish owing to rapid urbanization and gird expansion projects compelling governments to increase their power generation capacity.
 

Considering the capacity, North America steam turbine market is categorized into <3 MW, 3-100 MW, and >100 MW, wherein the last segment will grow tremendously on account of sustaining investments from various international organization including the World Bank for industrial development.
 

On the geographical front, Canada steam turbine market forecast presented in the report cites that the region will experience a strong growth rate during the analysis period, attributable to environmental policies for encouraging adoption of sustainable and clean energy solutions.
 

Key players impacting North America steam turbine market trends are Toshiba Corporation, Siemens AG, Triveni Turbines, PBS ENERGO, General Electric Company, Chola Turbo Machinery International, Mitsubishi, Hitachi Power Systems, Power Systems, LLC, Fuji Electric and BHEL among others.