Tracking customer and market trends is a key to driving our customer-centric business strategy. Our internal teams regularly track these trends to assess and analyse their impact on the industry/business, and enable us to respond effectively and efficiently to the same.
Recent years have seen three key customer trends guiding the turbines industry and impacting our business, in the backdrop of the evolving market scenario.
With climate change emerging as a major global concern, there is an increasing awareness and demand for environmentfriendly products among a growing expanse of customers. Today, customers are looking for ecologically sustainable solutions across industries and segments.
The rising environmental awareness transformation is propelling a powerful change in the norms and specifications for turbines, which are becoming more and more stringent. Adherence to these strict norms require companies worldwide to shift towards renewable energy and lower carbon footprint solutions.
Aligning ourselves to this new and growing trend, we have geared our business towards more eco-friendly and green manufacturing systems/processes, designed to reduce wastage at every stage while boosting productivity and efficiencies. Our R&D is also focussed on innovating environment-friendly products, that meet international standards and help customers in reducing their carbon footprint.
Around the world, the demand for energy is increasing year-on-year, leading to shortages, which nations and industries are trying to overcome through use of renewable energy sources. The Government of India has also been consistently promoting the Biomass Power and Bagasse co-generation programme and more recently waste heat recovery/municipal solid waste based power generating solutions.
Globally, the Governments are shifting from conventional to renewable sources of energy to attain renewable energy goals. The turbine industry, with its large manufacturing base, is also moving aggressively towards energy conservation, and use of renewable sources. In the global steam turbines market, fossil fuel based power generation declined from 69% in 2009 to 43% in 2019 whereas thermal renewable based power generation increased from 3% in 2009 to 17% in 2019, as per an International report.
We are one of the largest manufacturer of small steam turbines (5 MW - 30 MW) in the renewable sector globally specially in the Biomass IPP, Sugar co-generation, Process co-generation, Waste-to-energy sectors. Our turbines meet stringent international quality standards.
Source: An International Power Report
Across industries and businesses, customisation is fast becoming the norm rather than the exception. Mass production of universal products is giving way to specialised products and solutions crafted to the specific and unique needs of industries and applications.
The specialised needs of customers in various segments today necessitate customspecific products, applications and solutions in the turbine industry. The demand for bespoke products is steering a new level of customisation in this industry, especially among the new sectors of growth.
Our Business Development team is well trained and equipped to understand the distinctive customer needs and the transforming market requirements. They assess and share these insights with our product design team, resulting in the development of differentiated, need-based products and solutions for our diverse customers across industries. Our strong focus on technology development through dedicated Design and Development team with the objectives of improving the efficiency of the products, making the product more cost competitive and also to meet the varying demands from both the domestic and international markets. In the 5-30MW range, we hold second position globally for the 2015-19 period with a 20% market share in 2019.