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Globe and Mail
3 days ago
- Business
- Globe and Mail
India Steam Turbine Market Rises Amid Industrial Growth – Global Revenues to Reach $23.48B by 2030
"Steam Turbine Market Research by Arizton" According to Arizton's latest research, the global steam turbine market is projected to grow at a CAGR of 3.15% during 2024–2030, with APAC leading growth opportunities, particularly in China, Vietnam, and Southeast Asia. In India, the steam turbine market was valued at USD 1.57 billion in 2024 and is poised for significant expansion over the next five years, driven by SEZ development and favorable government initiatives. Looking for More Information? Click: Global Steam Turbine Market Highlights: Market Size – Revenue (2030): USD 23.48 Billion CAGR – Revenue (2024-2030): 3.15% Market Size – Shipments (2030): 589 Units Market Size – Capacity (2030): 98.36 GWe Largest Region (2024): APAC Powering a Greener Future – Steam Turbines Align with Renewable Energy The steam turbine market is entering a new era of sustainability through seamless integration with renewable energy systems, most notably biomass. Modern turbine technologies now support combined heat and power (CHP) configurations, maximizing energy efficiency by generating both electricity and thermal energy for industrial and urban use. These advancements address strict emissions and water usage regulations, supporting the global shift toward cleaner power generation. Tailored turbine solutions are increasingly powering district heating systems in cities, bringing renewable heat to homes and businesses. Industry leaders such as Siemens Energy, GE, and Mitsubishi Heavy Industries are at the forefront, engineering turbines that strengthen the role of biomass in the global energy mix and reinforce steam turbines as a vital bridge to a low-carbon future. APAC Steam Turbine Market Industrial & SEZ Expansion: Accelerated development of industrial parks and special economic zones across APAC, particularly in India, is boosting demand for high-capacity, reliable power solutions, with steam turbines playing a vital role in ensuring uninterrupted energy supply for sectors such as metals, chemicals, and refining. Renewable Integration in Emerging Markets: In Southeast Asia, steam turbines are being deployed in off-grid or semi-grid renewable projects, including biomass-fired plants and CSP-backed systems, supporting localized energy access and reducing dependency on fossil fuel imports, a trend increasingly relevant for India's rural and industrial energy strategies. Smart, AI-Enabled Turbines and Scalable Designs Redefine the Steam Turbine Market The steam turbine market is entering a new era, driven by IoT connectivity, AI-powered analytics, and advanced materials that optimize performance, reduce downtime, and enable predictive maintenance. Growing adoption of modular and standardized designs is streamlining manufacturing, lowering costs, and speeding up delivery timelines. Demand is increasingly shifting toward smart turbines with real-time digital monitoring, offering seamless integration into evolving energy systems. Moreover, Industry leaders such as Siemens Energy, GE, and Mitsubishi Heavy Industries are spearheading modernization efforts, strengthening supply chain resilience, ensuring regulatory compliance, and mitigating geopolitical risks, while delivering scalable, high-efficiency solutions to meet the world's rising energy demands. APAC Dominates the Steam Turbine Market, Led by Key Regions Across East, Southeast, and South Asia The Asia-Pacific (APAC) region continues to dominate the global steam turbine market, fueled by rapid industrialization, urban infrastructure expansion, and rising electricity demand across key economies such as China, India, Indonesia, and Vietnam. Market growth is further propelled by the adoption of advanced technologies, including IoT-enabled monitoring, AI-driven optimization, and digital control systems, which boost turbine efficiency and operational reliability. The shift towards cleaner power generation is reshaping the market, with combined-cycle gas plants, biomass integration, and hybrid systems gaining traction. Government-led initiatives, such as Japan's stricter pollution regulations and India's increased nuclear investments, are driving demand for low-emission and high-efficiency steam turbines. Regional energy cooperation frameworks, including the ASEAN Plan of Action on Energy Cooperation, further support the clean energy transition. However, the surge in solar PV capacity in India and China, along with tightening air quality standards, is accelerating coal plant retirements and limiting new fossil-based projects. Despite these shifts, East Asia remains the largest market, led by China's massive coal, nuclear, and hybrid power capacity. Meanwhile, Southeast and South Asia, particularly Vietnam, Indonesia, Bangladesh, and India, are emerging as high-growth markets, driven by rising energy needs and sustained investments in steam turbine-based power generation. Key Company Profiles General Electric (GE) Siemens A.G. Mitsubishi Heavy Industries (MHI) Shanghai Electric Doosan Skoda Power Toshiba America Energy Systems Corporation (TAES) HYUNDAI HEAVY INDUSTRIES TURBOMACHINERY CO.,LTD. Bharat Heavy Electricals Limited MAN Energy Solutions USA Ansaldo Energia Other Prominent Company Profiles Dongfang Electric Corporation (DEC) JSC Atomenergomash (AEM) Kawasaki Heavy Industries, Ltd. WEG Triveni Turbine Ltd. Nanjing Steam Turbine Motor (Group) Co., Ltd. Hangzhou Turbine Power Group Co., Ltd. Fuji Electric Co., Ltd. Power Machines MAPNA Group Shandong Qingneng Steam Turbine Co.,Ltd. Ural Turbine Works Turbimaq China Chang Jiang Energy Corporation Baker Hughes Company Ebara Elliott Energy Kanadevia Corporation Turboatom Chola Turbo Machinery International M+M Turbinen-Technik Andritz Kessels Arani Power Systems Ltd Turtle Turbines TurboTech Precision Engineering Kirloskar Ebara Pumps Limited Shin Nippon Machinery Co., Ltd. Industrial Boilers America NG Metalúrgica S.A. Fincantieri Harbin Turbine Company Limited NCON Turbo Tech Pvt. Ltd Trillium Flow Technologies Chart Industries De Pretto Industrie S.r.l. Market Segmentation & Forecast Unit-Size Large Steam Turbine Medium Steam Turbine Small Steam Turbine Design Impulse Turbine Reaction Turbine Others Technology Steam Cycle Combined Cycle Cogeneration (CHP) Others Fuel Type Coal Gas Nuclear Others Turbine Pressure High Pressure Medium Pressure Low Pressure Ultra High-Pressure End-Use Industry Power Generation Oil & Gas Industrial Manufacturing District Heating & Cooling Mining & Metal Processing Marine Others Geography APAC China India Japan South Korea Australia Indonesia Taiwan North America The U.S. Canada Europe Germany Russia UK France Italy Spain Poland Netherlands Middle East & Africa Saudi Arabia UAE Egypt South Africa Latin America Brazil Mexico Argentina Other Related Reports that Might be of Your Business Requirement Southeast Asia Industrial Motors Market Research Report 2024-2029 Pump Market - Global Outlook & Forecast 2024-2029 What Key Findings Will Our Research Analysis Reveal? How big is the global steam turbine market? What is the growth rate of the global steam turbine market? Who are the key players in the global steam turbine market? What are the significant trends in the steam turbine market? Which region dominates the global steam turbine market share? Why Arizton? 100% Customer Satisfaction 24x7 availability – we are always there when you need us 200+ Fortune 500 Companies trust Arizton's report 80% of our reports are exclusive and first in the industry 100% more data and analysis 1500+ reports published till date Post-Purchase Benefit 1hr of free analyst discussion 10% off on customization About Us: Arizton Advisory and Intelligence is an innovative and quality-driven firm that offers cutting-edge research solutions to clients worldwide. We excel in providing comprehensive market intelligence reports and advisory and consulting services. We offer comprehensive market research reports on consumer goods & retail technology, automotive and mobility, smart tech, healthcare, life sciences, industrial machinery, chemicals, materials, I.T. and media, logistics, and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts. Arizton comprises a team of exuberant and well-experienced analysts who have mastered generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.
Yahoo
6 days ago
- Health
- Yahoo
Wound Care Market worth US$30.48 billion by 2030 with 6.5% CAGR
DELRAY BEACH, Fla., Aug. 11, 2025 /PRNewswire/ -- The global Wound Care Market, valued at US$20.97 billion in 2024 stood at US$22.22 billion in 2025 and is projected to advance at a resilient CAGR of 6.5% from 2025 to 2030, culminating in a forecasted valuation of US$30.48 billion by the end of the period. The wound care market is primarily driven by the increasing cases of traumatic and burn injuries, growing prevalence of chronic diseases, and rising geriatric population. These factors have contributed to the higher demand for effective wound management solutions. Additionally, supportive government initiatives and reimbursement frameworks further bolster market growth. However, the high cost of advanced wound care products and associated risks may limit their widespread adoption. On the other hand, emerging economies offer significant growth opportunities, supported by ongoing technological advancements in wound care. Despite this, market expansion is challenged by a shortage of trained healthcare professionals and limited awareness in underdeveloped regions. Download PDF Brochure: Browse in-depth TOC on "Wound Care Market" 589 - Tables 61 - Figures 457 - Pages By wound type, the wound care market is divided into two main segments based on wound type: chronic wounds and acute wounds. Chronic wounds are further divided into diabetic foot ulcers, pressure ulcers, venous leg ulcers, and other chronic wounds. The chronic wounds segment of the wound care held the largest market share in 2024. Chronic wounds are more prominent due to their high incidence and the need for quick, targeted treatment. These types of wounds require wound care products to prevent infection and support faster and efficient healing. Additionally, increasing surgical procedures and accidental injuries worldwide continue to drive demand in this segment. By end users, the wound care market is divided into hospitals & clinics, home care settings, long-term care facilities, and other end users. Among these end users, the hospitals & clinics segment held the largest market share in 2024 for wound care. Hospitals & clinics are further divided into inpatient settings and outpatient settings. Hospitals & clinics lead the market due to their ready access to advanced technologies and trained medical staff. These settings handle a larger number of complex wound patients, requiring specialized care. Their ability to provide immediate and continuous treatment further supports their dominant role in the market. By geography, the wound care market is segmented into five major segments, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America had the largest market share in the wound care market in 2024. This is due to the increasing prevalence of diabetes, which leads to diabetic foot ulcers in the geriatric population. Additionally, the huge presence of wound care manufacturing companies in the region is increasing the market growth. The US has also observed a rise in obesity and road accidents, which has boosted the wound care market in North America. Request Sample Pages : Prominent players in the wound care market include Solventum (US), Johnson & Johnson Services, Inc. (US), Smith+ Nephew (UK), Convatec Group PLC (UK), Coloplast Group (Denmark), Cardinal Health (US), Mölnlycke AB (Sweden), Integra LifeSciences Corporation (US), PAUL HARTMANN AG (Germany), SE (Germany), Organogenesis Inc. (US), MIMEDX Group, Inc. (US), Essity Aktlebolag (Sweden), Avery Dennison Corporation (US), Mativ Holdings, Inc. (US), Owens & Minor (US), Zimmer Biomet (US), Bioventus (US), Medtronic (Ireland), and Baxter (US). Solventum (US): Following its spinoff from 3M in April 2024, Solventum embarked on a new journey as an independent company. While it previously benefited from 3M's resources and brand recognition, Solventum is now focused on establishing its own identity. The company develops, manufactures, and markets a wide range of products aimed at meeting the needs of both patients and healthcare providers. Its operations are structured across four key business segments: MedSurg, Dental Solutions, Health Information Systems, and Purification & Filtration. To drive growth, Solventum is prioritizing innovation and strategic expansion. The company enhances its competitive position by combining material science with digital technologies, delivering improved clinical and economic outcomes for healthcare systems. Johnson & Johnson Services, Inc. (US) Johnson & Johnson, a global healthcare powerhouse, maintains a leading position in the wound care market through its surgical technologies arm, Ethicon. The company provides an extensive portfolio of advanced wound closure solutions, including sutures, staplers, and sealants that are widely utilized in surgical and acute care environments. Leveraging decades of clinical expertise, strong evidence-based outcomes, and a commitment to continuous innovation, the company effectively addresses a broad spectrum of surgical wound care needs. Supported by Johnson & Johnson's expansive global manufacturing and distribution infrastructure, Ethicon strengthens the company's ability to deliver high-quality, scalable, and dependable wound care solutions worldwide. Smith+Nephew (UK) The company offers a wide portfolio of wound care products, including advanced dressings and NPWT devices. It maintains a strong global market presence, largely due to its efficient distribution network. Its worldwide reach and the essential nature of its products play a key role in expanding healthcare access across both developed and emerging markets. In recent years, the company has increased its focus on research and development to create more effective and differentiated products. It invested USD 289.0 million in 2024, USD 339.0 million in 2023, and USD 345.0 million in 2022 in R&D activities. This consistent commitment to innovation has helped establish the company as a recognized name in the wound care industry. For more information, Inquire Now! Related Reports: Advanced Wound Care Market Traditional Wound Care Market Animal Wound Care Market Wound Care Biologics Market Burn Care Market Get access to the latest updates on Wound Care Companies and Wound Care Market Size About MarketsandMarkets™: MarketsandMarkets™ has been recognized as one of America's Best Management Consulting Firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. With the widest lens on emerging technologies, we are proficient in co-creating supernormal growth for clients across the globe. Today, 80% of Fortune 2000 companies rely on MarketsandMarkets, and 90 of the top 100 companies in each sector trust us to accelerate their revenue growth. With a global clientele of over 13,000 organizations, we help businesses thrive in a disruptive ecosystem. The B2B economy is witnessing the emergence of $25 trillion in new revenue streams that are replacing existing ones within this decade. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we collaborate with several Forbes Global 2000 B2B companies to keep them future-ready. 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Yahoo
16-07-2025
- Business
- Yahoo
Saudi Arabia In-Vitro Diagnostics Market Report 2025-2030 Featuring Abbott, BD, Bio-Rad Laboratories, Biomerieux, Danaher, Nihon Kohden, Roche, Siemens Healthineers, Sysmex, Thermo Fischer Scientific
Saudi Arabia's in-vitro diagnostics market is set to grow from USD 734.7M in 2024 to USD 932.3M by 2030, driven by a rising elderly population and chronic disease prevalence. Saudi Arabia leads the GCC region in IVD, benefiting from government initiatives like Vision 2030 and healthcare sector advances. Dublin, July 16, 2025 (GLOBE NEWSWIRE) -- The "Saudi Arabia In-Vitro Diagnostics (IVD) Market (By Segment, Application, Product, End User), Size, Share, Major Deals, Key Company Profiles, Revenue, Recent Developments - Forecast to 2030" report has been added to offering. The Saudi Arabia in-vitro diagnostics market is predicted to reach USD 932.3 Million by 2030, from USD 734.7 Million in 2024. Saudi Arabia is the largest market for in-vitro diagnostics in the GCC region. As in other countries, Saudi Arabia is facing the challenges of fighting infectious diseases, including HBV, TB, HC, V, and HIV, as well as various chronic diseases and cancer. In-vitro diagnostics play an important role in the detection of infectious and chronic diseases. The rising geriatric population and the high burden of chronic and infectious diseases propel the growth of Saudi Arabia's in-vitro diagnostics market, as these chronic disorders can be diagnosed and monitored using in-vitro diagnostics (IVD) products. Furthermore, the Saudi Arabian government is taking several initiatives to improve the healthcare sector in the country. For instance, under Vision 2030, the Saudi Arabian Government plans to invest over USD 65 Billion to develop the country's healthcare infrastructure. The government has set the target of privatizing 290 hospitals and 2,300 primary health centers by 2030. Also, the government seeks to improve the country's healthcare sector by adopting digital information systems. Recent Developments In February 2025, ABL Diagnostics announced that manufacture and commercialize a full range of UltraGene PCR tests acquired from its parent company, Advanced Biological Laboratories. In October 2024, Abbott Molecular was granted emergency use authorization for its Alinity m MPXV assay for the diagnosis of mpox. It is a real-time PCR test that will allow faster detection of the virus. In January 2024, bioMerieux announced the acquisition of LUMED, a software company that has developed a clinical decision support system to help hospitals optimize antimicrobial prescriptions and monitor healthcare-associated infections. In August 2023, Sysmex Corporation announced an expansion of the Global Business Partnership Agreement (GBPA) with Roche Diagnostics International Ltd. Technology Key Takeaways On a technology basis, Immunoassay and Clinical Chemistry are the dominating segments of the Saudi Arabia IVD market. Together, they contributed nearly 58 percent to the total Saudi Arabia IVD market in 2024. Both these segments are likely to maintain their leading position over the forecast period. Molecular Diagnostics captured over 10 percent share of the Saudi Arabia IVD market in 2024. POCT and SMBG segments are competing closely to grab the maximum market share of the pie. POCT is transforming diagnostic practices through its convenience and efficiency. The growth of the hematology market is attributed to factors such as the increasing incidences of blood disorders, the growing adoption of automated hematology instruments by diagnostic laboratories, the emergence of high-throughput hematology analyzers, and the introduction of technologically advanced hematology instruments. Application Key Takeaways On the basis of application, Infectious diseases and Diabetes are the leading segments of the Saudi Arabia IVD market. Together, they contributed over 55 percent to the total Saudi Arabia IVD market in 2024. The Saudi Government has set a goal to increase life expectancy from 75 to 80 years of age. This will be achieved primarily by addressing the disease burden of noncommunicable diseases in the country, such as cardiovascular disease (CVD). The oncology application segment held the 3rd highest share of the Saudi Arabia IVD market in 2023, followed by cardiovascular diseases. Autoimmune Diseases was responsible for a single digit share of the Saudi Arabia IVD market in 2024, while Nephrology held the least share of the Saudi Arabia IVD market. Product Key Takeaways Reagents controlled the highest share of the Saudi Arabia IVD market in 2024, and are expected to remain dominant over the forecast period, since reagents are a vital part of every in-vitro diagnostics test. The instruments segment was responsible for over a quarter of the Saudi Arabia IVD market in 2024. The introduction of advanced instruments offers an excellent avenue for the segment's growth. The software and services held the least share of the Saudi Arabian IVD market. End User Key Takeaways Government Labs & Hospitals held the largest share of the Saudi Arabia IVD market in 2024, owing to the large volume of diagnostic tests carried out in hospitals and the rising volumes of Class II and Class III in vitro diagnostics medical devices that are being readily used for diagnostic testing. Private Labs & Hospitals contributed nearly a quarter to the overall Saudi Arabia IVD market. Saudi Arabian government has set the target of privatizing 290 hospitals and 2,300 primary health centers by 2030, under the Saudi Vision 2030 Plan. Key Company Profiles Abbott Becton Dickinson and Company Bio-Rad Laboratories, Inc Biomerieux SA Danaher Corporation Nihon Kohden Corporation Roche Siemens Healthineers Sysmex Corporation Thermo Fischer Scientific Inc. By Segment - Saudi Arabia IVD Market and Forecast Immunoassay Clinical Chemistry Hematology Coagulation/Hemostasis Microbiology Molecular Diagnostic Self-Monitoring of Blood Glucose (SMBG) Point of Care Testing (POCT) Others By Application - Saudi Arabia IVD Market and Forecast Infectious Diseases Cardiovascular Diseases Diabetes Oncology Nephrology Autoimmune Diseases Others By Product - Saudi Arabia IVD Market and Forecast Reagents Instruments Software and Services By End User - Saudi Arabia IVD Market and Forecast Government Labs & Hospitals Private Labs & Hospitals Others For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. 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