Edward Hester is Vice President—
Industrial Goods at The Freedonia
Group where he has been a senior
analyst for many years. Andrew Gross
is Professor of Marketing and
International Business at Cleveland
State University.
The world market for turbines and
related products (turbine-based
engines, generators and generator
sets) is projected to increase at seven
percent per year in current dollars
through 2007 and reach the $77 billion
mark that year. Such growth
will not match the surging gains of
the 1998-2001 period, but conditions
are expected to improve due to
greater demand for electric energy
and a rebound in air traffic. Electric
power plants and aircraft account for
over 90 percent of shipments. Turbine
suppliers will find opportunities in
several countries with above-average
growth potential, including China,
India, and other Asian nations. The
turbine manufacturing industry is
highly concentrated, with five firms
dominating the global electricity
generation aircraft engine market.
