Steam Turbine Market, By Capacity (Up to 150 MW, 151 MW to 300 MW, More than 300 MW), By End Use (Power & Utility, Industrial), and By Geography (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa)

Description

Steam Turbine Market is estimated to be valued at USD 17.79 Bn in 2026 and is expected to reach USD 21 Bn by 2033, growing at a compound annual growth rate (CAGR) of 2.4% from 2026 to 2033.

Report Coverage		Report Details
Base Year:	2025	Market Size in 2026:	USD 17.79 Bn
Historical Data for:	2020 To 2024	Forecast Period:	2026 To 2033
Forecast Period 2026 to 2033 CAGR:	2.40%	2033 Value Projection:	USD 21 Bn

Steam turbine is a mechanical power plant that uses steam as a fuel to do work on a rotating shaft. The design of a steam turbine is a multi-disciplinary task that involves thermodynamics, aerodynamics and mechanical engineering. In addition to generating electricity, steam turbines can also be used for heating purposes. Industrial steam turbines use a mixture of high-pressure and low-pressure steam as their fuel. The difference between the pressures of the steam in the inlet and exhaust stages must be matched by a condenser to make steam turbines operate properly

Market Dynamics

The global steam turbine market is anticipated to experience moderate growth throughout the forecast period. This is attributed to the rapid industrialization and rising electricity demand, particularly in developing economies. In addition, an increase in the demand for combined-cycle natural gas plants is another prominent factor driving steam turbine market growth. Furthermore, the growing focus on clean energy, which is defined as a renewable source of power is further expected to drive market growth over the next few years.

On the other hand, regulatory and policy restrictions on fossil-fuel fired power plants are projected to restrain the growth of the steam turbine market during the forecast period.

Key features of the study

It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
It profiles key players in the global steam turbine market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies.
Key companies covered as a part of this study include General Electric (GE), Siemens Energy, Mitsubishi Power, Ltd., TOSHIBA CORPORATION, Doosan A koda Power, Ansaldo Energia S.p.A., Bharat Heavy Electricals Limited (BHEL), and Fuji Electric Co., Ltd.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
The global steam turbine market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global steam turbine market.

Market Segmentation

Global Steam Turbine Market, By Capacity (Revenue, USD Bn, 2021 - 2033)
Up to 150 MW
151 MW to 300 MW
More than 300 MW
Global Steam Turbine Market, By End use (Revenue, USD Bn, 2021 - 2033)
Power & Utility
Industrial
Global Steam Turbine Market, By Region (Revenue, USD Bn, 2021 - 2033)
North America
- U.S.
- Canada
Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
Middle East
- GCC Countries
- Israel
- Rest of Middle East
Africa
- South Africa
- North Africa
- Central Africa
Key Players Insights
General Electric (GE)
Siemens Energy
Mitsubishi Power, Ltd.
Toshiba Corporation
Doosan A koda Power
Ansaldo Energia S.p.A.
Bharat Heavy Electricals Limited (BHEL)
Fuji Electric Co., Ltd.

Product Code: CMI5731

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Market Snapshot, By Capacity
- Market Snapshot, By End Use
- Market Snapshot, By Region
Coherent Opportunity Map (COM)

3. Market Dynamics, Regulations, and Trends Analysis

Market Dynamics
- Increasing demand for electricity
- Strict environmental emission regulations
- Increasing population with growing housing construction
Impact Analysis
Key Highlights
Regulatory Scenario
Product launch/Approvals
PEST Analysis
PORTER's Analysis
Merger and Acquisition Scenario

4. Global Steam Turbine Market, By Capacity, 2021 - 2033, (USD Bn)

Introduction
- Market Share Analysis, 2026 and 2033 (%)
- Y-o-Y Growth Analysis, 2021 - 2033
- Segment Trends
Up to 150 MW
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2021 - 2033, (USD Bn)
151 MW to 300 MW
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2021 - 2033, (USD Bn)
More than 300 MW
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2021 - 2033, (USD Bn)

5. Global Steam Turbine Market, By End Use, 2021 - 2033, (USD Bn)

Introduction
- Market Share Analysis, 2026 and 2033 (%)
- Y-o-Y Growth Analysis, 2021 - 2033
- Segment Trends
Power & Utility
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2021 - 2033, (USD Bn)
Industrial
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2021 - 2033, (USD Bn)

6. Global Steam Turbine Market, By Region, 2021 - 2033, (USD Bn)

Introduction
- Market Share Analysis, By Country, 2026 and 2033 (%)
- Y-o-Y Growth Analysis, For Country 2021 - 2033
- Country Trends
North America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Capacity, 2021 - 2033, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By End Use, 2021 - 2033, (USD Bn)
  - U.S.
  - Canada
Europe
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Capacity, 2021 - 2033, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By End Use, 2021 - 2033, (USD Bn)
  - Germany
  - U.K.
  - Spain
  - France
  - Italy
  - Russia
  - Rest of Europe
Asia Pacific
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Capacity, 2021 - 2033, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By End Use, 2021 - 2033, (USD Bn)
  - China
  - India
  - Japan
  - Australia
  - South Korea
  - ASEAN
  - Rest of Asia Pacific
Latin America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Capacity, 2021 - 2033, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By End Use, 2021 - 2033, (USD Bn)
  - Brazil
  - Argentina
  - Mexico
  - Rest of Latin America
Middle East & Africa
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Capacity, 2021 - 2033, (USD Bn)
- Market Size and Forecast, and Y-o-Y Growth, By End Use, 2021 - 2033, (USD Bn)
  - GCC Countries
  - Israel
  - Rest of Middle East
  - South Africa
  - North Africa
  - Central Africa

7. Competitive Landscape

General Electric (GE)
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
Siemens Energy
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
Mitsubishi Power, Ltd.
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
TOSHIBA CORPORATION
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
Doosan Škoda Power
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
Ansaldo Energia S.p.A.
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
Bharat Heavy Electricals Limited (BHEL)
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
Fuji Electric Co., Ltd.
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
Analyst Views

8. Section

Research Methodology
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