Summary
The Northeastern US & Eastern Canada Turbines Market is on a moderate growth trajectory, set to generate USD 7,485.7 million by 2035, while advancing at a 2.657% CAGR between 2025 and 2035. The Northeastern U.S. and Eastern Canada are moving very fast in changing from fixed offshore wind turbines to floating ones to be able to reach deep-water wind resources.
Increasing Demand for Renewable Energy
The skyrocketing wind energy adoption across the Northeastern U.S. and Eastern Canada is largely driven by strong decarbonization targets and supportive policies.
Detailed Segmentation Analysis
Type
- Wind Turbines: Fast-growing clean energy segment
- Steam Turbines: Stable demand from legacy infrastructure
- Gas Turbines: Preferred for fast ramping power
- Hydro Turbines: Long-life renewable power assets
- Others: Experimental and customized turbine types
Product
- Steam Cycle: Single-source thermal power generation
- Combined Cycle: Superior fuel efficiency configuration
- Cogeneration: Integrated heat and power systems
- Others: Advanced hybrid cycle models
Application
- Electrical Generation: Dominant application segment
- Propulsion System: Naval and commercial propulsion uses
- Others: Auxiliary and industrial power roles
End-User
- Power Generation: Primary revenue-generating end user
- Marine: Offshore and shipping industry demand
- Oil & Gas: Process-driven turbine deployment
- Petrochemical: High-load industrial operations
- Transport: Non-road and specialized transport uses
- Others: Miscellaneous industrial applications
Growth Drivers and Policy Support
The major driving factor of the turbines market in the Northeastern US and Eastern Canada is the rise in renewable energy demand, which is further strengthened by the availability of strong government incentives and the presence of supportive clean energy policies.
Key Report Attributes
- Market Size 2024: USD 5,595.336 Million
- Market Size 2035: USD 7,485.7 Million
- CAGR (2025-2035): 2.657%
- Base Year: 2024
- Market Forecast Period: 2025-2035
Industry Segmentations Growth
- By Type: Wind Turbines - 3.068%, Steam Turbines - 2.826%.
- By Product: Steam Cycle - 2.367%, Combined Cycle - 2.782%.
- By Application: Electrical Generation - 2.757%, Propulsion System - 2.489%.
- By End User: Power Generation - 2.762%, Marine - 2.343%.
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Table of Contents
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY ....... 16
2 MARKET INTRODUCTION .... 22
2.1 DEFINITION ...... 22
2.2 SCOPE OF THE STUDY ...... 22
2.3 RESEARCH OBJECTIVE .... 22
2.4 MARKET STRUCTURE ...... 23
3 RESEARCH METHODOLOGY ...... 24
3.1 OVERVIEW .... 24
3.2 DATA FLOW ...... 27
3.2.1 DATA MINING PROCESS ..... 27
3.3 PURCHASED DATABASE: ..... 28
3.4 SECONDARY SOURCES: .... 29
3.4.1 SECONDARY RESEARCH DATA FLOW: ..... 30
3.5 PRIMARY RESEARCH: ....... 31
3.5.1 PRIMARY RESEARCH DATA FLOW: ..... 32
3.5.2 PRIMARY RESEARCH: NUMBER OF INTERVIEWS CONDUCTED ..... 33
3.6 APPROACHES FOR MARKET SIZE ESTIMATION: ....... 33
3.6.1 TRADE ANALYSIS APPROACH ..... 33
3.7 DATA FORECASTING..... 34
3.7.1 DATA FORECASTING TECHNIQUE .... 34
3.8 DATA MODELING .... 35
3.8.1 MICROECONOMIC FACTOR ANALYSIS: .... 35
3.8.2 DATA MODELING: ....... 36
3.9 TEAMS AND ANALYST CONTRIBUTION ....... 38
4 MARKET DYNAMICS .... 40
4.1 INTRODUCTION ....... 40
4.2 DRIVERS ..... 41
4.2.1 INCREASING DEMAND FOR RENEWABLE ENERGY .... 41
4.2.2 GOVERNMENT INCENTIVES AND POLICIES ...... 42
4.3 RESTRAINT ...... 44
4.3.1 HIGH INITIAL CAPITAL COSTS .... 44
4.3.2 REGULATORY CHALLENGES AND BUREAUCRACY .... 45
4.4 OPPORTUNITY ..... 47
4.4.1 ECONOMIC GROWTH AND INDUSTRIALIZATION ....... 47
4.5 IMPACT ANALYSIS OF RUSSIA-UKRAINE WAR ..... 48
4.6 IMPACT ANALYSIS OF TRADE WAR ....... 48
4.7 IMPACT OF TRUMP 2.0 .... 49
5 MARKET FACTOR ANALYSIS ...... 50
5.1 SUPPLY/VALUE CHAIN ANALYSIS ..... 50
5.1.1 PARTICIPANTS ....... 50
5.1.1.1 RAW MATERIAL ANALYSIS ..... 50
5.1.1.2 COMPONENT SUPPLIERS ....... 50
5.1.1.3 TURBINE MANUFACTURER...... 50
5.1.1.4 DELIVERY ....... 51
5.1.1.5 END USE .... 51
5.2 PORTER’S FIVE FORCES MODEL ....... 52
5.2.1 THREAT OF NEW ENTRANTS ....... 53
5.2.2 BARGAINING POWER OF SUPPLIERS ....... 53
5.2.3 THREAT OF SUBSTITUTES ...... 53
5.2.4 BARGAINING POWER OF BUYERS .... 53
5.2.5 INTENSITY OF RIVALRY ...... 54
5.3 PESTEL ANALYSIS ..... 55
5.4 REGULATORY FRAMEWORK ..... 56
5.4.1 GOVERNMENTAL POLICIES ..... 56
5.5 TECHNOLOGY ADVANCEMENTS ..... 57
5.6 R&D UPDATE .... 61
5.6.1 CURRENT SCENARIO ...... 61
5.6.2 FUTURE ROADMAP ..... 61
5.6.3 NOVEL APPLICATIONS ....... 61
5.6.4 KEY DEVELOPMENTS ...... 61
5.7 CASE STUDY/ USE CASES ....... 62
5.7.1 COMBINE HEAT AND POWER UNIVERSITY, YORK UNIVERSITY ...... 62
5.7.2 PEAKING POWER PROJECT, NORTH CAROLINA MUNICIPAL POWER AGENCY ....... 62
63
6 NORTHEASTERN US & EASTERN CANADA TURBINES MARKET, BY TYPE ....... 64
6.1 OVERVIEW .... 64
6.2 WIND TURBINES ..... 64
6.3 STEAM TURBINES ..... 64
6.4 GAS TURBINES .... 65
6.5 HYDRO TURBINES ...... 65
6.6 OTHERS ...... 65
7 NORTHEASTERN US & EASTERN CANADA TURBINES MARKET, BY PRODUCT ....... 67
7.1 OVERVIEW .... 67
7.2 STEAM CYCLE ..... 67
7.3 COMBINED CYCLE ...... 67
7.4 COGENERATION ...... 68
7.5 OTHERS ...... 68
8 NORTHEASTERN US & EASTERN CANADA TURBINES MARKET, BY APPLICATION ..... 69
8.1 OVERVIEW .... 69
8.2 ELECTRICAL GENERATION .... 69
8.3 PROPULSION SYSTEM ...... 69
8.4 OTHERS ...... 69
9 NORTHEASTERN US & EASTERN CANADA TURBINES MARKET, BY END USER ...... 71
9.1 OVERVIEW .... 71
9.2 POWER GENERATION ....... 71
9.3 MARINE ..... 71
9.4 OIL & GAS ....... 71
9.5 PETROCHEMICAL ....... 72
9.6 TRANSPORT ..... 72
9.7 OTHERS ...... 72
10 NORTHEASTERN US & EASTERN CANADA TURBINES MARKET, BY REGION ....... 74
10.1 OVERVIEW .... 74
10.2 NORTHEASTERN US ..... 74
10.3 EASTERN CANADA .... 74
10.4 NORTHEASTERN US ..... 75
10.5 EASTERN CANADA .... 77
11 COMPETITIVE LANDSCAPE .... 80
11.1 INTRODUCTION ....... 80
11.2 MARKET SHARE ANALYSIS, 2024 ....... 80
11.3 COMPETITOR DASHBOARD..... 81
11.4 COMPARATIVE ANALYSIS: KEY PLAYERS FINANCIAL ...... 82
11.5 KEY DEVELOPMENTS & GROWTH STRATEGIES .... 82
11.5.1 STRATEGIC PARTNERSHIP, PRODUCT INNOVATION, STRATEGIC INVESTMENT & EXPANSION ...... 82
11.5.2 ACQUISITION ..... 84
12 COMPANY PROFILES ...... 85
12.1 VESTAS ...... 85
12.1.1 COMPANY OVERVIEW ..... 85
12.1.2 FINANCIAL OVERVIEW .... 86
12.1.3 PRODUCTS OFFERED ...... 86
12.1.4 KEY DEVELOPMENTS ...... 88
12.1.5 SWOT ANALYSIS .... 88
12.1.6 KEY STRATEGY ....... 88
12.2 SIEMENS ENERGY ...... 90
12.2.1 COMPANY OVERVIEW ..... 90
12.2.2 FINANCIAL OVERVIEW .... 91
12.2.3 PRODUCTS OFFERED ...... 91
12.2.4 KEY DEVELOPMENTS ...... 93
12.2.5 SWOT ANALYSIS .... 94
12.2.6 KEY STRATEGY ....... 94
12.3 ENERCON ....... 95
12.3.1 COMPANY OVERVIEW ..... 95
12.3.2 FINANCIAL OVERVIEW .... 95
12.3.3 PRODUCTS OFFERED ...... 96
12.3.4 KEY DEVELOPMENTS ...... 97
12.3.5 SWOT ANALYSIS .... 98
12.3.6 KEY STRATEGY ....... 98
12.4 GE VERNOVA INC. ...... 99
12.4.1 COMPANY OVERVIEW ..... 99
12.4.2 FINANCIAL OVERVIEW .... 100
12.4.3 PRODUCTS OFFERED ...... 100
12.4.4 KEY DEVELOPMENTS ...... 102
12.4.5 SWOT ANALYSIS .... 103
12.4.6 KEY STRATEGY ....... 103
12.5 CATERPILLAR INC. .... 104
12.5.1 COMPANY OVERVIEW ..... 104
12.5.2 FINANCIAL OVERVIEW .... 105
12.5.3 PRODUCTS OFFERED ...... 105
12.5.4 KEY DEVELOPMENTS ...... 106
12.5.5 SWOT ANALYSIS .... 107
12.5.6 KEY STRATEGY ....... 107
12.6 NORDEX SE ....... 108
12.6.1 COMPANY OVERVIEW ..... 108
12.6.2 FINANCIAL OVERVIEW .... 109
12.6.3 PRODUCTS OFFERED ...... 110
12.6.4 KEY DEVELOPMENTS ...... 111
12.6.5 SWOT ANALYSIS .... 112
12.6.6 KEY STRATEGY ....... 112
12.7 ROLLS-ROYCE PLC ..... 113
12.7.1 COMPANY OVERVIEW ..... 113
12.7.2 FINANCIAL OVERVIEW .... 114
12.7.3 PRODUCTS OFFERED ...... 114
12.7.4 KEY DEVELOPMENTS ...... 115
12.7.5 SWOT ANALYSIS .... 116
12.7.6 KEY STRATEGY ....... 116
12.8 MITSUBISHI HEAVY INDUSTRIES. ...... 117
12.8.1 COMPANY OVERVIEW ..... 117
12.8.2 FINANCIAL OVERVIEW .... 118
12.8.3 PRODUCTS OFFERED ...... 118
12.8.4 KEY DEVELOPMENTS ...... 119
12.8.5 SWOT ANALYSIS .... 120
12.8.6 KEY STRATEGY ....... 120
12.9 NORCAN HYDRAULIC TURBINE INC. ...... 121
12.9.1 COMPANY OVERVIEW ..... 121
12.9.2 FINANCIAL OVERVIEW .... 121
12.9.3 PRODUCTS OFFERED ...... 122
12.9.4 KEY DEVELOPMENTS ...... 123
12.9.5 SWOT ANALYSIS .... 124
12.9.6 KEY STRATEGY ....... 124
12.10 CANADIAN HYDRO COMPONENTS LTD. .... 125
12.10.1 COMPANY OVERVIEW ..... 125
12.10.2 FINANCIAL OVERVIEW .... 125
12.10.3 PRODUCTS OFFERED ...... 126
12.10.4 KEY DEVELOPMENTS ...... 126
12.10.5 SWOT ANALYSIS .... 127
12.10.6 KEY STRATEGY ....... 127
12.11 DATA CITATIONS ....... 128
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List of Tables/Graphs
LIST OF TABLES
TABLE 1 QFD MODELING FOR MARKET SHARE ASSESSMENT 36
TABLE 2 NORTHEASTERN US & EASTERN CANADA TURBINES MARKET, BY TYPE, 2019-2035 (USD MILLION) 66
TABLE 3 NORTHEASTERN US & EASTERN CANADA TURBINES MARKET, BY PRODUCT, 2019-2035 (USD MILLION) 68
TABLE 4 NORTHEASTERN US & EASTERN CANADA TURBINES MARKET, BY APPLICATION, 2019-2035 (USD MILLION) 70
TABLE 5 NORTHEASTERN US & EASTERN CANADA TURBINES MARKET, BY END USER, 2019-2035 (USD MILLION) 73
TABLE 6 NORTHEASTERN US & EASTERN CANADA TURBINES MARKET, BY REGION, 2019-2035 (USD MILLION) 75
TABLE 7 NORTHEASTERN US TURBINES MARKET, BY TYPE, 2019-2035 (USD MILLION) 75
TABLE 8 NORTHEASTERN US TURBINES MARKET, BY PRODUCT, 2019-2035 (USD MILLION) 75
TABLE 9 NORTHEASTERN US TURBINES MARKET, BY APPLICATION, 2019-2035 (USD MILLION) 76
TABLE 10 NORTHEASTERN US TURBINES MARKET, BY END USER, 2019-2035 (USD MILLION) 76
TABLE 11 EASTERN CANADA TURBINES MARKET, BY TYPE, 2019-2035 (USD MILLION) 77
TABLE 12 EASTERN CANADA TURBINES MARKET, BY PRODUCT, 2019-2035 (USD MILLION) 77
TABLE 13 EASTERN CANADA TURBINES MARKET, BY APPLICATION, 2019-2035 (USD MILLION) 77
TABLE 14 EASTERN CANADA TURBINES MARKET, BY END USER, 2019-2035 (USD MILLION) 78
TABLE 15 COMPARATIVE ANALYSIS: KEY PLAYERS FINANCIAL 82
TABLE 16 STRATEGIC PARTNERSHIP, PRODUCT INNOVATION, STRATEGIC INVESTMENT & EXPANSION 82
TABLE 17 ACQUISITION 84
TABLE 18 VESTAS: PRODUCTS OFFERED 86
TABLE 19 SIEMENS ENERGY: PRODUCTS OFFERED 91
TABLE 20 SIEMENS ENERGY: KEY DEVELOPMENTS 93
TABLE 21 ENERCON: PRODUCTS OFFERED 96
TABLE 22 ENERCON: KEY DEVELOPMENTS 97
TABLE 23 GE VERNOVA INC.: PRODUCTS OFFERED 100
TABLE 24 GE VERNOVA INC.: KEY DEVELOPMENTS 102
TABLE 25 CATERPILLAR INC.: PRODUCTS OFFERED 105
TABLE 26 NORDEX SE: PRODUCTS OFFERED 110
TABLE 27 NORDEX SE: KEY DEVELOPMENTS 111
TABLE 28 ROLLS-ROYCE PLC: PRODUCTS OFFERED 114
TABLE 29 MITSUBISHI HEAVY INDUSTRIES.: PRODUCTS OFFERED 118
TABLE 30 NORCAN HYDRAULIC TURBINE INC.: PRODUCTS OFFERED 122
TABLE 31 CANADIAN HYDRO COMPONENTS LTD.: PRODUCTS OFFERED 126