Transparency Market Research has released a new market report that predicts the turbine market could reach USD 191.8 bln in terms of revenue by 2020.
According to the report ‘Turbines Market – Global Industry Analysis, Market Size, Share, Growth, Trends and Forecast 2014 – 2020’ global turbines market revenue was valued at USD 135.68 bln in 2013.
The compound annual growth rate, the year-over-year growth rate of an investment over a specified period of time, is estimated at 4.89 percent from 2013 to 2020, amounting to USD 191.8 bln by 2020.
The report states that the prime reason behind an increased demand for turbines is an increased demand for power generation.
The research provides an analysis of manufacturers and suppliers in the turbines industry, which are involved in the business at various levels of the value chain globally.
The report also provides an overview of current policies, standards and certification programs associated with the turbine industry along with the recommendations for stakeholders to ensure sustainable and profitable turbine market growth.
It also includes detailed analysis, historical data, and statistical forecast for the market.
Transparency Market Research (TMR) is a global market intelligence company which provides global business information reports and services.
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Image: flickr/Ken Teegardin/Illustration