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          1. Turbine Manufacturing Industry Profile

            Report Page Length: 10-12
            Last Quarterly Update: 6/8/2020
            SIC Codes: 3511
            NAICS Codes: 333611
            Chapters Include:
            Industry Overview Trends & Challenges Industry Forecast
            Quarterly Industry Update Call Prep Questions Website & Media Links
            Business Challenges Financial Information Glossary & Acronyms
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            Excerpt from Turbine Manufacturing Industry Profile

            Companies in this industry manufacture turbines (steam, hydraulic, gas, and wind) and complete turbine generator set units. Major manufacturers include divisions of Caterpillar and General Electric (both of the US), as well as Hitachi (Japan), Siemens (Germany), Vestas Wind Systems (Denmark), and Xinjiang Goldwind (China).

            The global market for turbines and related systems is expected to grow at an annual rate of nearly 5% through 2020, reaching a value of more than $190 billion, according to Transparency Market Research. Leading countries for turbine and turbine generator set manufacture include China, Germany, Japan, and the US.

            The US turbine manufacturing industry includes about 140 companies with combined annual revenue of about $13 billion. The industry does not include companies that make turbines that are used on aircraft.

            COMPETITIVE LANDSCAPE

            Demand for turbines is driven by the level of overall industrial activity, and growth in the power generation industry. The profitability of individual companies depends on engineering expertise and efficient production. Large companies have economies of scale in purchasing. Small companies can compete effectively by specializing in niche turbine applications. The US industry is highly concentrated: the top 50 companies account for more than 95% of industry revenue.

            The US is a net exporter of turbines, and exports account for about 60% of US production. Top export markets include Mexico, Singapore, Hungary, Saudi Arabia, and Japan. Imports account for about 45% of the ...

             
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