The Global steam turbine market was valued at $24.1 billion in 2019 and is projected to reach $30.2 billion by 2027. Why now? The spread of industrialization and the growing demand for electric power and thermal power generation are driving this marked increase.
The truth is steam turbines have always been a popular option for production. Learn more below.
A Versatile Mechanism
Steam engines date back hundreds — if not thousands — of years. The first true steam turbine can be traced back to Sir Charles Parsons. In 1884, he created a steam turbine to produce electricity at a much lower cost. Today, steam turbines power generators, produce electricity, or propel missiles, airplanes, and ships forward.
Manufacturers may use nuclear power, geothermal power, coal, or natural gas to keep steam turbines running.
In other words, steam turbines derive their energy from a number of different sources and perform a number of different functions. This versatility makes them invaluable.
More Energy Output
There is a reason steam turbines require maintenance and routine borescope inspection reports. Steam turbines can get pretty big — and produce energy proportionate to their incredible size. According to the non-profit Nuclear Power For Everybody, Steam turbines are suitable for large thermal power plants. They are made in a variety of sizes up to 1.5 GW (2,000,000 hp) turbines used to generate electricity.
In addition to the potential to produce a tremendous amount of power, steam turbines produce power with fewer parts than reciprocating engines or simple piston engines, they boast a high power-to-weight ratio, and they are incredibly efficient — especially when compared to other engines or electricity-generating mechanisms.
Most importantly, steam turbines are reliable. Steam turbines are hardy and durable. They produce a ton of power and withstand the stresses of doing it. The tremendous structures do not break or malfunction easily and can often be relied on to function properly for years and years.
Of course, like anything else, steam turbines do require proactive maintenance to operate at their best. Order a borescope inspection and borescope inspection report to get a close look at the inner workings of your steam turbine. A borescope inspection uses a camera and a flexible hose to inspect all parts of turbines. If there is any cause for alarm or anything that needs addressing — like a buildup of salt or particles that may reduce the efficiency of your turbine — they will be on your inspection report.
Is it all uphill for the steam turbine industry? What about COVID-19? Is the virus slowing the growth of the steam turbine market? For the most part, the answer is no. Although businesses may be permanently or temporarily closed or open to limited capacity, the demand for power is shifting rather than going away. People working from home still need power and electricity!
Schedule a borescope inspection report and perform any necessary maintenance for your steam turbines today. The market is growing and will continue to thrive in the coming years.