Need help finding what you are looking for?
Contact Us
PUBLISHER: IMARC | PRODUCT CODE: 1308131
PUBLISHER: IMARC | PRODUCT CODE: 1308131
Steam Turbine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
PUBLISHED:
PAGES: 138 Pages
DELIVERY TIME: 2-3 business days
SELECT AN OPTION
Market Overview:
The global steam turbine market size reached US$ 24.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 32.4 Billion by 2028, exhibiting a growth rate (CAGR) of 4.03% during 2023-2028.
A steam turbine is a machine that relies on steam to extract thermal energy and convert it into mechanical work on a rotating output shaft. It is a technological component with advanced design and operational procedures that offer enhanced efficiency, maximum power output per unit, improved power densities, and the highest mean times between failure. Apart from this, it is highly reliable, with less vibrations and a high power-to-weight ratio compared to reciprocating engines. As a result, it finds extensive applications in power generation, petrochemical, and oil and gas industries.
Steam Turbine Market Trends:
At present, there is a rise in the number of power plants across the globe to compensate for the energy deficit. This, along with the growing focus of policymakers in several countries to establish energy-efficient and clean power generation plants, represents one of the key factors driving the market. Moreover, there is an increase in the demand for combined heat and power plants (CHP) to use the waste heat from electricity production for various purposes. This, coupled with the introduction of advanced technologies, such as cryptocurrency and 5G technology, which requires high power for their operation, is positively influencing the market. In addition, governments of several countries are undertaking climate change mitigation initiatives to stabilize greenhouse gas levels in the environment by allowing ecosystems to adapt naturally to climatic change. In line with this, the rising utilization of electric vehicles (EVs) to replace fossil fuels in the transportation sector is offering lucrative growth opportunities to industry investors. Besides this, the increasing employment of geothermal energy for desalination of water, heavy water production, and extraction of minerals from geothermal fluids is bolstering the growth of the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global steam turbine market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on exhaust type, capacity, technology and application.
Breakup by Exhaust Type:
Condensing
Non-Condensing
Breakup by Capacity:
Less than 120 MW
121-350 MW
351-750 MW
More than 750 MW
Breakup by Technology:
Steam Cycle
Combined Cycle
Cogeneration
Breakup by Application:
Power Generation
Petrochemicals
Oil & Gas
Others
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Arani Power Systems Limited, Doosan Skoda Power, Elliott Company (Ebara Corporation), Fuji Electric Co. Ltd., General Electric Company, MAN Energy Solutions SE (Volkswagen AG), Mitsubishi Heavy Industries Ltd, Shanghai Electric Group Company Limited, Siemens Energy AG, Toshiba Corporation, Turbine Generator Maintenance Inc. and Turbocam Inc.
Key Questions Answered in This Report
- 1. What was the size of the global steam turbine market in 2022?
- 2. What is the expected growth rate of the global steam turbine market during 2023-2028?
- 3. What are the key factors driving the global steam turbine market?
- 4. What has been the impact of COVID-19 on the global steam turbine market?
- 5. What is the breakup of the global steam turbine market based on the exhaust type?
- 6. What is the breakup of the global steam turbine market based on the capacity?
- 7. What is the breakup of the global steam turbine market based on the technology?
- 8. What is the breakup of the global steam turbine market based on the application?
- 9. What are the key regions in the global steam turbine market?
- 10. Who are the key players/companies in the global steam turbine market?
Product Code: SR112023A5400
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Steam Turbine Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Exhaust Type
- 6.1 Condensing
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Non-Condensing
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
7 Market Breakup by Capacity
- 7.1 Less than 120 MW
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 121-350 MW
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 351-750 MW
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 More than 750 MW
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
8 Market Breakup by Technology
- 8.1 Steam Cycle
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Combined Cycle
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Cogeneration
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
9 Market Breakup by Application
- 9.1 Power Generation
- 9.1.1 Market Trends
- 9.1.2 Market Forecast
- 9.2 Petrochemicals
- 9.2.1 Market Trends
- 9.2.2 Market Forecast
- 9.3 Oil & Gas
- 9.3.1 Market Trends
- 9.3.2 Market Forecast
- 9.4 Others
- 9.4.1 Market Trends
- 9.4.2 Market Forecast
10 Market Breakup by Region
- 10.1 North America
- 10.1.1 United States
- 10.1.1.1 Market Trends
- 10.1.1.2 Market Forecast
- 10.1.2 Canada
- 10.1.2.1 Market Trends
- 10.1.2.2 Market Forecast
- 10.1.1 United States
- 10.2 Asia-Pacific
- 10.2.1 China
- 10.2.1.1 Market Trends
- 10.2.1.2 Market Forecast
- 10.2.2 Japan
- 10.2.2.1 Market Trends
- 10.2.2.2 Market Forecast
- 10.2.3 India
- 10.2.3.1 Market Trends
- 10.2.3.2 Market Forecast
- 10.2.4 South Korea
- 10.2.4.1 Market Trends
- 10.2.4.2 Market Forecast
- 10.2.5 Australia
- 10.2.5.1 Market Trends
- 10.2.5.2 Market Forecast
- 10.2.6 Indonesia
- 10.2.6.1 Market Trends
- 10.2.6.2 Market Forecast
- 10.2.7 Others
- 10.2.7.1 Market Trends
- 10.2.7.2 Market Forecast
- 10.2.1 China
- 10.3 Europe
- 10.3.1 Germany
- 10.3.1.1 Market Trends
- 10.3.1.2 Market Forecast
- 10.3.2 France
- 10.3.2.1 Market Trends
- 10.3.2.2 Market Forecast
- 10.3.3 United Kingdom
- 10.3.3.1 Market Trends
- 10.3.3.2 Market Forecast
- 10.3.4 Italy
- 10.3.4.1 Market Trends
- 10.3.4.2 Market Forecast
- 10.3.5 Spain
- 10.3.5.1 Market Trends
- 10.3.5.2 Market Forecast
- 10.3.6 Russia
- 10.3.6.1 Market Trends
- 10.3.6.2 Market Forecast
- 10.3.7 Others
- 10.3.7.1 Market Trends
- 10.3.7.2 Market Forecast
- 10.3.1 Germany
- 10.4 Latin America
- 10.4.1 Brazil
- 10.4.1.1 Market Trends
- 10.4.1.2 Market Forecast
- 10.4.2 Mexico
- 10.4.2.1 Market Trends
- 10.4.2.2 Market Forecast
- 10.4.3 Others
- 10.4.3.1 Market Trends
- 10.4.3.2 Market Forecast
- 10.4.1 Brazil
- 10.5 Middle East and Africa
- 10.5.1 Market Trends
- 10.5.2 Market Breakup by Country
- 10.5.3 Market Forecast
11 SWOT Analysis
- 11.1 Overview
- 11.2 Strengths
- 11.3 Weaknesses
- 11.4 Opportunities
- 11.5 Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis
- 13.1 Overview
- 13.2 Bargaining Power of Buyers
- 13.3 Bargaining Power of Suppliers
- 13.4 Degree of Competition
- 13.5 Threat of New Entrants
- 13.6 Threat of Substitutes
14 Price Analysis
15 Competitive Landscape
- 15.1 Market Structure
- 15.2 Key Players
- 15.3 Profiles of Key Players
- 15.3.1 Arani Power Systems Limited
- 15.3.1.1 Company Overview
- 15.3.1.2 Product Portfolio
- 15.3.2 Doosan Skoda Power
- 15.3.2.1 Company Overview
- 15.3.2.2 Product Portfolio
- 15.3.2.3 Financials
- 15.3.2.4 SWOT Analysis
- 15.3.3 Elliott Company (Ebara Corporation)
- 15.3.3.1 Company Overview
- 15.3.3.2 Product Portfolio
- 15.3.3.3 SWOT Analysis
- 15.3.4 Fuji Electric Co. Ltd.
- 15.3.4.1 Company Overview
- 15.3.4.2 Product Portfolio
- 15.3.4.3 Financials
- 15.3.4.4 SWOT Analysis
- 15.3.5 General Electric Company
- 15.3.5.1 Company Overview
- 15.3.5.2 Product Portfolio
- 15.3.5.3 Financials
- 15.3.5.4 SWOT Analysis
- 15.3.6 MAN Energy Solutions SE (Volkswagen AG)
- 15.3.6.1 Company Overview
- 15.3.6.2 Product Portfolio
- 15.3.6.3 SWOT Analysis
- 15.3.7 Mitsubishi Heavy Industries Ltd
- 15.3.7.1 Company Overview
- 15.3.7.2 Product Portfolio
- 15.3.7.3 Financials
- 15.3.7.4 SWOT Analysis
- 15.3.8 Shanghai Electric Group Company Limited
- 15.3.8.1 Company Overview
- 15.3.8.2 Product Portfolio
- 15.3.9 Siemens Energy AG
- 15.3.9.1 Company Overview
- 15.3.9.2 Product Portfolio
- 15.3.9.3 Financials
- 15.3.10 Toshiba Corporation
- 15.3.10.1 Company Overview
- 15.3.10.2 Product Portfolio
- 15.3.10.3 Financials
- 15.3.10.4 SWOT Analysis
- 15.3.11 Turbine Generator Maintenance Inc.
- 15.3.11.1 Company Overview
- 15.3.11.2 Product Portfolio
- 15.3.12 Turbocam Inc.
- 15.3.12.1 Company Overview
- 15.3.12.2 Product Portfolio
- 15.3.1 Arani Power Systems Limited
Product Code: SR112023A5400
List of Figures
- Figure 1: Global: Steam Turbine Market: Major Drivers and Challenges
- Figure 2: Global: Steam Turbine Market: Sales Value (in Billion US$), 2017-2022
- Figure 3: Global: Steam Turbine Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 4: Global: Steam Turbine Market: Breakup by Exhaust Type (in %), 2022
- Figure 5: Global: Steam Turbine Market: Breakup by Capacity (in %), 2022
- Figure 6: Global: Steam Turbine Market: Breakup by Technology (in %), 2022
- Figure 7: Global: Steam Turbine Market: Breakup by Application (in %), 2022
- Figure 8: Global: Steam Turbine Market: Breakup by Region (in %), 2022
- Figure 9: Global: Steam Turbine (Condensing) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 10: Global: Steam Turbine (Condensing) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 11: Global: Steam Turbine (Non-Condensing) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 12: Global: Steam Turbine (Non-Condensing) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 13: Global: Steam Turbine (Less than 120 MW) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 14: Global: Steam Turbine (Less than 120 MW) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 15: Global: Steam Turbine (121-350 MW) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 16: Global: Steam Turbine (121-350 MW) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 17: Global: Steam Turbine (351-750 MW) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 18: Global: Steam Turbine (351-750 MW) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 19: Global: Steam Turbine (More than 750 MW) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 20: Global: Steam Turbine (More than 750 MW) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 21: Global: Steam Turbine (Steam Cycle) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 22: Global: Steam Turbine (Steam Cycle) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 23: Global: Steam Turbine (Combined Cycle) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 24: Global: Steam Turbine (Combined Cycle) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 25: Global: Steam Turbine (Cogeneration) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 26: Global: Steam Turbine (Cogeneration) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 27: Global: Steam Turbine (Power Generation) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 28: Global: Steam Turbine (Power Generation) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 29: Global: Steam Turbine (Petrochemicals) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 30: Global: Steam Turbine (Petrochemicals) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 31: Global: Steam Turbine (Oil & Gas) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 32: Global: Steam Turbine (Oil & Gas) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 33: Global: Steam Turbine (Other Applications) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 34: Global: Steam Turbine (Other Applications) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 35: North America: Steam Turbine Market: Sales Value (in Million US$), 2017 & 2022
- Figure 36: North America: Steam Turbine Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 37: United States: Steam Turbine Market: Sales Value (in Million US$), 2017 & 2022
- Figure 38: United States: Steam Turbine Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 39: Canada: Steam Turbine Market: Sales Value (in Million US$), 2017 & 2022
- Figure 40: Canada: Steam Turbine Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 41: Asia-Pacific: Steam Turbine Market: Sales Value (in Million US$), 2017 & 2022
- Figure 42: Asia-Pacific: Steam Turbine Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 43: China: Steam Turbine Market: Sales Value (in Million US$), 2017 & 2022
- Figure 44: China: Steam Turbine Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 45: Japan: Steam Turbine Market: Sales Value (in Million US$), 2017 & 2022
- Figure 46: Japan: Steam Turbine Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 47: India: Steam Turbine Market: Sales Value (in Million US$), 2017 & 2022
- Figure 48: India: Steam Turbine Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 49: South Korea: Steam Turbine Market: Sales Value (in Million US$), 2017 & 2022
- Figure 50: South Korea: Steam Turbine Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 51: Australia: Steam Turbine Market: Sales Value (in Million US$), 2017 & 2022
- Figure 52: Australia: Steam Turbine Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 53: Indonesia: Steam Turbine Market: Sales Value (in Million US$), 2017 & 2022
- Figure 54: Indonesia: Steam Turbine Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 55: Others: Steam Turbine Market: Sales Value (in Million US$), 2017 & 2022
- Figure 56: Others: Steam Turbine Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 57: Europe: Steam Turbine Market: Sales Value (in Million US$), 2017 & 2022
- Figure 58: Europe: Steam Turbine Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 59: Germany: Steam Turbine Market: Sales Value (in Million US$), 2017 & 2022
- Figure 60: Germany: Steam Turbine Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 61: France: Steam Turbine Market: Sales Value (in Million US$), 2017 & 2022
- Figure 62: France: Steam Turbine Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 63: United Kingdom: Steam Turbine Market: Sales Value (in Million US$), 2017 & 2022
- Figure 64: United Kingdom: Steam Turbine Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 65: Italy: Steam Turbine Market: Sales Value (in Million US$), 2017 & 2022
- Figure 66: Italy: Steam Turbine Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 67: Spain: Steam Turbine Market: Sales Value (in Million US$), 2017 & 2022
- Figure 68: Spain: Steam Turbine Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 69: Russia: Steam Turbine Market: Sales Value (in Million US$), 2017 & 2022
- Figure 70: Russia: Steam Turbine Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 71: Others: Steam Turbine Market: Sales Value (in Million US$), 2017 & 2022
- Figure 72: Others: Steam Turbine Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 73: Latin America: Steam Turbine Market: Sales Value (in Million US$), 2017 & 2022
- Figure 74: Latin America: Steam Turbine Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 75: Brazil: Steam Turbine Market: Sales Value (in Million US$), 2017 & 2022
- Figure 76: Brazil: Steam Turbine Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 77: Mexico: Steam Turbine Market: Sales Value (in Million US$), 2017 & 2022
- Figure 78: Mexico: Steam Turbine Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 79: Others: Steam Turbine Market: Sales Value (in Million US$), 2017 & 2022
- Figure 80: Others: Steam Turbine Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 81: Middle East and Africa: Steam Turbine Market: Sales Value (in Million US$), 2017 & 2022
- Figure 82: Middle East and Africa: Steam Turbine Market: Breakup by Country (in %), 2022
- Figure 83: Middle East and Africa: Steam Turbine Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 84: Global: Steam Turbine Industry: SWOT Analysis
- Figure 85: Global: Steam Turbine Industry: Value Chain Analysis
- Figure 86: Global: Steam Turbine Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Steam Turbine Market: Key Industry Highlights, 2022 and 2028
- Table 2: Global: Steam Turbine Market Forecast: Breakup by Exhaust Type (in Million US$), 2023-2028
- Table 3: Global: Steam Turbine Market Forecast: Breakup by Capacity (in Million US$), 2023-2028
- Table 4: Global: Steam Turbine Market Forecast: Breakup by Technology (in Million US$), 2023-2028
- Table 5: Global: Steam Turbine Market Forecast: Breakup by Application (in Million US$), 2023-2028
- Table 6: Global: Steam Turbine Market Forecast: Breakup by Region (in Million US$), 2023-2028
- Table 7: Global: Steam Turbine Market: Competitive Structure
- Table 8: Global: Steam Turbine Market: Key Players
Have a question?
SELECT AN OPTION
Have a question?
Questions? Please give us a call or visit the contact form.