Engine, Turbine, And Power Transmission Equipment Manufacturing Market To Grow At A Higher Rate

The Business Research Company’s engine, turbine, and power transmission equipment manufacturing global market report, covers the year-on-year growth of the global engine, turbine, and power transmission equipment manufacturing market historic and forecast growth. It also includes chapters on the engine, turbine, and power transmission equipment manufacturing market trends, geographical analysis, and competitive landscape.

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The global engine, turbine, and power transmission equipment manufacturing market is forecast to grow at a CAGR (compound annual growth rate) of more than 3 % to 2022.

Engine, Turbine, And Power Transmission Equipment Manufacturing Market Trends

The engine, turbine, and power transmission equipment manufacturing market consists of sales of turbines, power transmission equipment, and internal combustion engines (except automotive gasoline and aircraft).by entities (organizations, sole traders or partnerships) that produce engine, turbine, and power transmission equipment, including clutches and brakes (except electromagnetic industrial controls, and motor vehicle), diesel and semi diesel engines, electric outboard motors, internal combustion engines for hybrid drive systems (except automotive), plain bearings and bushings (except internal combustion engine), power transmission pulleys, speed changers, speed reducers, turbine generator set units, universal joints (except aircraft, and motor vehicle).

With the significant rise in pollution, diesel engine manufacturers are adopting latest emission treatments to bring down emission levels. Exhaust Gas Recirculation (EGR) and Selective Catalytic Reduction (SCR) technologies are extensively being used by diesel engine manufacturers to reduce NOx emissions which are harmful at certain levels to the atmosphere. Exhaust Gas Recirculation involves treating the exhaust gasses produced, by re-circulating them in a combustion chamber in the presence of oxygen. This leads to combustion process occurring at low temperature, thereby reducing the formation of NOx. Selective Catalytic Reduction uses different catalysts like aqueous ammonia to convert NOx into diatomic and water. Earlier used in waste management, this method has now integrated with power generators to reduce NOx emissions by 75-95% thereby setting a trend. Major companies like Cummins, Komatsu and Volvo have implemented these techniques in their mid and heavy duty engine range which is mostly used in the mining industry. GE has also integrated EGR technology with their marine engines.

The global engine, turbine, and power transmission equipment manufacturing market is primarily driven by favorable government policies, and expansion of renewable energy resources across countries.

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The global engine, turbine, and power transmission equipment manufacturing market report covers the following regions under the geographical analysis section: Asia Pacific, Western Europe, North America, Middle East, Africa, South America, and Eastern Europe. Major countries under each of these regions are also covered under the country analysis chapters.

With increasing government initiatives in nations such as China and India and high investments in the industry, the global engine, turbine, and power transmission equipment manufacturing market is expected to increase in potential and scope. TBRC’s report also covers the engine, turbine, and power transmission equipment manufacturing drivers and restraints in the market.

The global engine, turbine, and power transmission equipment manufacturing market’s segment shares in each geographic region are mentioned in the report, along with the historic and forecast growth rates for each segment presented visually with supporting reasons to justify the growth rates.

The top companies included in the global engine, turbine, and power transmission equipment manufacturing market report are General Electric Co., Siemens Corporation, Caterpillar Inc., Cummins Inc., and Vestas Wind Systems A/S.

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