DUBLIN--(BUSINESS WIRE)--

Research and Markets (http://www.researchandmarkets.com/research/vrrrm8/growth) has announced the addition of the "Growth Opportunities in Global Steam Turbine Market in Power Generation 2012-2017: Trends, Forecasts and Opportunity Analysis" report to their offering.

The global steam turbine market stands on the threshold of strong growth. In 2011, the market topped $12.1 billion, growing at a Compounded Annual Growth Rate (CAGR) of 2.4%. The Asia Pacific (APAC) region captured the largest market share with approximately $9.3 billion, representing 77% of the market. According to market forecasts, the global steam turbine market is poised for growth at 3% CAGR over the next five years (2012-2017) to reach approximately $15.3 billion in 2017.

The author discusses the challenges and opportunities faced by the global steam turbine market. The steam turbine market is affected by renewable sources of energy such as wind and solar power. The prices of other sources of energy such as natural gas are another factor affecting this market. The demand for steam turbines, however, will remain solid with emerging, large economies, such as India and China, generating high demand.

The study encompasses the market's major drivers. APAC accounts for the largest market share of steam turbines. North America and Europe represent larger markets than the Rest of the World market.

This report highlights the aspects of the global steam turbine market. Due diligence has been given to the current market scenario, as well as the technological and financial benefits of installing steam turbines in power generation plants globally. China has emerged as the leading player in the manufacturing and installation of steam turbines.

For more information visit http://www.researchandmarkets.com/research/vrrrm8/growth

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