The North America Turbo Generator Market would witness market growth of 4.0% CAGR during the forecast period (2024-2031).
The US market dominated the North America Turbo Generator Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $1,508.6 million by 2031. The Canada market is experiencing a CAGR of 6.4% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 5.5% during (2024 - 2031).
Power plants employ a turbo generator to transform mechanical energy into electrical energy. A turbo generator typically consists of a turbine paired to a generator powered by steam, gas, or water flow. The generator creates electricity via electromagnetic induction due to the turbine's rotation.
Additionally, thermal power plants, hydroelectric power plants, and renewable energy sources, including geothermal and wind power, frequently use turbo generators.
The growing adoption of electric vehicles in Mexico is increasing electricity demand. As more EVs are deployed on the roads, the demand for electric charging infrastructure and electricity generation capacity is also increasing in Mexico. It provides backup power for EV charging stations and support expanding charging infrastructure across Mexico.
Based on Type, the market is segmented into Gas Turbine Generator, Steam Turbine Generator, and Water Turbine Generator. Based on End User, the market is segmented into Coal Power Plants, Nuclear Power Plants, Gas Power Plants, and Others. Based on Cooling System, the market is segmented into Air Cooled, Water Cooled, and Hydrogen Cooled. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The US market dominated the North America Turbo Generator Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $1,508.6 million by 2031. The Canada market is experiencing a CAGR of 6.4% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 5.5% during (2024 - 2031).
Power plants employ a turbo generator to transform mechanical energy into electrical energy. A turbo generator typically consists of a turbine paired to a generator powered by steam, gas, or water flow. The generator creates electricity via electromagnetic induction due to the turbine's rotation.
Additionally, thermal power plants, hydroelectric power plants, and renewable energy sources, including geothermal and wind power, frequently use turbo generators.
The growing adoption of electric vehicles in Mexico is increasing electricity demand. As more EVs are deployed on the roads, the demand for electric charging infrastructure and electricity generation capacity is also increasing in Mexico. It provides backup power for EV charging stations and support expanding charging infrastructure across Mexico.
Based on Type, the market is segmented into Gas Turbine Generator, Steam Turbine Generator, and Water Turbine Generator. Based on End User, the market is segmented into Coal Power Plants, Nuclear Power Plants, Gas Power Plants, and Others. Based on Cooling System, the market is segmented into Air Cooled, Water Cooled, and Hydrogen Cooled. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
List of Key Companies Profiled
- Suzlon Energy Limited
- Beijing BEIZHONG Steam Turbine Generator Co., Ltd.
- Andritz AG
- Ansaldo Energia S.p.A.
- Bharat Heavy Electricals Ltd.
- Ebara Corporation
- Mitsubishi Heavy Industries Ltd.
- Siemens AG
- Toshiba Corporation
- General Electric Company
Market Report Segmentation
By Type- Gas Turbine Generator
- Steam Turbine Generator
- Water Turbine Generator
- Coal Power Plants
- Nuclear Power Plants
- Gas Power Plants
- Others
- Air Cooled
- Water Cooled
- Hydrogen Cooled
- US
- Canada
- Mexico
- Rest of North America
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. North America Turbo Generator Market by Type
Chapter 5. North America Turbo Generator Market by End User
Chapter 6. North America Turbo Generator Market by Cooling System
Chapter 7. North America Turbo Generator Market by Country
Chapter 8. Company Profiles
Companies Mentioned
- Suzlon Energy Limited
- Beijing BEIZHONG Steam Turbine Generator Co., Ltd.
- Andritz AG
- Ansaldo Energia S.p.A.
- Bharat Heavy Electricals Ltd.
- Ebara Corporation
- Mitsubishi Heavy Industries Ltd.
- Siemens AG
- Toshiba Corporation
- General Electric Company
Methodology
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