Global Steam Turbine Market 2026-2030

Description

The global steam turbine market is forecasted to grow by USD 4056.9 mn during 2025-2030, accelerating at a CAGR of 4.1% during the forecast period. The report on the global steam turbine market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by surging global electrical energy demand driven by industrialization, modernization and efficiency retrofitting of legacy power infrastructure, expanding industrial waste heat recovery systems.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market size data, segment with regional analysis and vendor landscape in addition to an analysis of the key companies. Reports have historic and forecast data.

Market Scope
Base Year	2025
End Year	2030
Series Year	2026-2030
Growth Momentum	Accelerate
YOY 2026	4%
CAGR	4.1%
Incremental Value	$4056.9 mn

Technavio's global steam turbine market is segmented as below:

By End-User

Utility
Industrial

By Type

Reaction
Impulse

By Technology

Steam cycle
Combined cycle
Cogeneration

Geography

APAC
- China
- India
- Japan
- South Korea
- Indonesia
- Vietnam
North America
- US
- Canada
- Mexico
Europe
- Germany
- Russia
- UK
- France
- Italy
- Spain
Middle East and Africa
- UAE
- South Africa
- Egypt
- Qatar
South America
- Brazil
- Argentina
- Chile
Rest of World (ROW)

This study identifies the integration of AI and digital twin predictive maintenance systems as one of the prime reasons driving the global steam turbine market growth during the next few years. Also, growing adoption of advanced nuclear steam configurations and focusing on rapid ramping for renewable grid balancing will lead to sizable demand in the market.

The report on the global steam turbine market covers the following areas:

Global steam turbine market sizing
Global steam turbine market forecast
Global steam turbine market industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading global steam turbine market vendors that include Ansaldo Energia S.p.A., Baker Hughes Co., Bharat Heavy Electricals Ltd., Chart Industries Inc., Chola Turbo Machinery, Depretto Industrie S.r.l., Dongfang Electric Corp. Ltd., Doosan Enerbility Co. Ltd., Elliott Co., Everllence SE, Fuji Electric Co. Ltd., GE Vernova Inc., Harbin Electric Company Ltd., Hayward Tyler Fluid Handling Ltd., Kawasaki Heavy Industries Ltd., Mitsubishi Heavy Industries, Shanghai Electric Group Co., Siemens Energy AG, Skinner Power Systems, Toshiba Corp., Triveni Turbines Ltd., Turtle Turbines, WEG S.A. Also, the global steam turbine market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive primary and secondary research. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.

Product Code: IRTNTR75079

1 Executive Summary

1.1 Market overview
- Executive Summary - Chart on Market Overview
- Executive Summary - Data Table on Market Overview
- Executive Summary - Chart on Global Market Characteristics
- Executive Summary - Chart on Market by Geography
- Executive Summary - Chart on Market Segmentation by End-user
- Executive Summary - Chart on Market Segmentation by Type
- Executive Summary - Chart on Market Segmentation by Technology
- Executive Summary - Chart on Incremental Growth
- Executive Summary - Data Table on Incremental Growth
- Executive Summary - Chart on Company Market Positioning

2 Technavio Analysis

2.1 Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
- Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
2.2 Criticality of inputs and Factors of differentiation
2.3 Factors of disruption
2.4 Impact of drivers and challenges

3 Market Landscape

3.1 Market ecosystem
3.2 Market characteristics
3.3 Value chain analysis

4 Market Sizing

4.1 Market definition
4.2 Market segment analysis
- Market segments
4.3 Market size 2025
4.4 Market outlook: Forecast for 2025-2030

5 Historic Market Size

5.1 Global Steam Turbine Market 2020 - 2024
- Historic Market Size - Data Table on Global Steam Turbine Market 2020 - 2024 ($ million)
5.2 End-user segment analysis 2020 - 2024
- Historic Market Size - End-user Segment 2020 - 2024 ($ million)
5.3 Type segment analysis 2020 - 2024
- Historic Market Size - Type Segment 2020 - 2024 ($ million)
5.4 Technology segment analysis 2020 - 2024
- Historic Market Size - Technology Segment 2020 - 2024 ($ million)
5.5 Geography segment analysis 2020 - 2024
- Historic Market Size - Geography Segment 2020 - 2024 ($ million)
5.6 Country segment analysis 2020 - 2024
- Historic Market Size - Country Segment 2020 - 2024 ($ million)

6 Qualitative Analysis

6.1 Impact of AI in Global Steam Turbine Market
6.2 Impact of Geopolitical Conflicts on Global Steam Turbine Market

7 Five Forces Analysis

7.1 Five forces summary
- Five forces analysis - Comparison between 2025 and 2030
7.2 Bargaining power of buyers
- Bargaining power of buyers - Impact of key factors 2025 and 2030
7.3 Bargaining power of suppliers
- Bargaining power of suppliers - Impact of key factors in 2025 and 2030
7.4 Threat of new entrants
- Threat of new entrants - Impact of key factors in 2025 and 2030
7.5 Threat of substitutes
- Threat of substitutes - Impact of key factors in 2025 and 2030
7.6 Threat of rivalry
- Threat of rivalry - Impact of key factors in 2025 and 2030
7.7 Market condition

8 Market Segmentation by End-user

8.1 Market segments
8.2 Comparison by End-user
8.3 Utility - Market size and forecast 2025-2030
8.4 Industrial - Market size and forecast 2025-2030
8.5 Market opportunity by End-user
- Market opportunity by End-user ($ million)

9 Market Segmentation by Type

9.1 Market segments
9.2 Comparison by Type
9.3 Reaction - Market size and forecast 2025-2030
9.4 Impulse - Market size and forecast 2025-2030
9.5 Market opportunity by Type
- Market opportunity by Type ($ million)

10 Market Segmentation by Technology

10.1 Market segments
10.2 Comparison by Technology
10.3 Steam cycle - Market size and forecast 2025-2030
10.4 Combined cycle - Market size and forecast 2025-2030
10.5 Cogeneration - Market size and forecast 2025-2030
10.6 Market opportunity by Technology
- Market opportunity by Technology ($ million)

11 Customer Landscape

11.1 Customer landscape overview
- Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

12 Geographic Landscape

12.1 Geographic segmentation
12.2 Geographic comparison
12.3 APAC - Market size and forecast 2025-2030
- 12.3.1 China - Market size and forecast 2025-2030
- 12.3.2 India - Market size and forecast 2025-2030
- 12.3.3 Japan - Market size and forecast 2025-2030
- 12.3.4 South Korea - Market size and forecast 2025-2030
- 12.3.5 Indonesia - Market size and forecast 2025-2030
- 12.3.6 Vietnam - Market size and forecast 2025-2030
12.4 North America - Market size and forecast 2025-2030
- 12.4.1 US - Market size and forecast 2025-2030
- 12.4.2 Canada - Market size and forecast 2025-2030
- 12.4.3 Mexico - Market size and forecast 2025-2030
12.5 Europe - Market size and forecast 2025-2030
- 12.5.1 Germany - Market size and forecast 2025-2030
- 12.5.2 Russia - Market size and forecast 2025-2030
- 12.5.3 UK - Market size and forecast 2025-2030
- 12.5.4 France - Market size and forecast 2025-2030
- 12.5.5 Italy - Market size and forecast 2025-2030
- 12.5.6 Spain - Market size and forecast 2025-2030
12.6 Middle East and Africa - Market size and forecast 2025-2030
- 12.6.1 Saudi Arabia - Market size and forecast 2025-2030
- 12.6.2 UAE - Market size and forecast 2025-2030
- 12.6.3 South Africa - Market size and forecast 2025-2030
- 12.6.4 Egypt - Market size and forecast 2025-2030
- 12.6.5 Qatar - Market size and forecast 2025-2030
12.7 South America - Market size and forecast 2025-2030
- 12.7.1 Brazil - Market size and forecast 2025-2030
- 12.7.2 Argentina - Market size and forecast 2025-2030
- 12.7.3 Chile - Market size and forecast 2025-2030
12.8 Market opportunity by geography
- Market opportunity by geography ($ million)
- Data Tables on Market opportunity by geography ($ million)

13 Drivers, Challenges, and Opportunity

13.1 Market drivers
- Surging global electrical energy demand driven by industrialization
- Modernization and efficiency retrofitting of legacy power infrastructure
- Expanding industrial waste heat recovery systems
13.2 Market challenges
- Accelerating global decarbonization mandates
- High capital intensity and project development timelines
- Supply chain bottlenecks and specialized material constraints
13.3 Impact of drivers and challenges
- Impact of drivers and challenges in 2025 and 2030
13.4 Market opportunities
- Integration of AI and digital twin predictive maintenance systems
- Growing adoption of advanced nuclear steam configurations
- Focusing on rapid ramping for renewable grid balancing

14 Competitive Landscape

14.1 Overview
14.2 Competitive Landscape
- Overview on criticality of inputs and factors of differentiation
14.3 Landscape disruption
- Overview on factors of disruption
14.4 Industry risks
- Impact of key risks on business

15 Competitive Analysis

15.1 Companies profiled
- Companies covered
15.2 Company ranking index
- Company ranking index
15.3 Market positioning of companies
- Matrix on companies position and classification
15.4 Ansaldo Energia S.p.A.
- Ansaldo Energia S.p.A. - Overview
- Ansaldo Energia S.p.A. - Product / Service
- Ansaldo Energia S.p.A. - Key offerings
- SWOT
15.5 Baker Hughes Co.
- Baker Hughes Co. - Overview
- Baker Hughes Co. - Business segments
- Baker Hughes Co. - Key news
- Baker Hughes Co. - Key offerings
- Baker Hughes Co. - Segment focus
- SWOT
15.6 Bharat Heavy Electricals Ltd.
- Bharat Heavy Electricals Ltd. - Overview
- Bharat Heavy Electricals Ltd. - Business segments
- Bharat Heavy Electricals Ltd. - Key offerings
- Bharat Heavy Electricals Ltd. - Segment focus
- SWOT
15.7 Chart Industries Inc.
- Chart Industries Inc. - Overview
- Chart Industries Inc. - Business segments
- Chart Industries Inc. - Key offerings
- Chart Industries Inc. - Segment focus
- SWOT
15.8 Dongfang Electric Corp. Ltd.
- Dongfang Electric Corp. Ltd. - Overview
- Dongfang Electric Corp. Ltd. - Product / Service
- Dongfang Electric Corp. Ltd. - Key offerings
- SWOT
15.9 Doosan Enerbility Co. Ltd.
- Doosan Enerbility Co. Ltd. - Overview
- Doosan Enerbility Co. Ltd. - Business segments
- Doosan Enerbility Co. Ltd. - Key offerings
- Doosan Enerbility Co. Ltd. - Segment focus
- SWOT
15.10 GE Vernova Inc.
- GE Vernova Inc. - Overview
- GE Vernova Inc. - Business segments
- GE Vernova Inc. - Key offerings
- GE Vernova Inc. - Segment focus
- SWOT
15.11 Harbin Electric Company Ltd.
- Harbin Electric Company Ltd. - Overview
- Harbin Electric Company Ltd. - Product / Service
- Harbin Electric Company Ltd. - Key offerings
- SWOT
15.12 Hayward Tyler Fluid Handling Ltd.
- Hayward Tyler Fluid Handling Ltd. - Overview
- Hayward Tyler Fluid Handling Ltd. - Product / Service
- Hayward Tyler Fluid Handling Ltd. - Key offerings
- SWOT
15.13 Kawasaki Heavy Industries Ltd.
- Kawasaki Heavy Industries Ltd. - Overview
- Kawasaki Heavy Industries Ltd. - Business segments
- Kawasaki Heavy Industries Ltd. - Key news
- Kawasaki Heavy Industries Ltd. - Key offerings
- Kawasaki Heavy Industries Ltd. - Segment focus
- SWOT
15.14 Mitsubishi Heavy Industries
- Mitsubishi Heavy Industries - Overview
- Mitsubishi Heavy Industries - Business segments
- Mitsubishi Heavy Industries - Key news
- Mitsubishi Heavy Industries - Key offerings
- Mitsubishi Heavy Industries - Segment focus
- SWOT
15.15 Shanghai Electric Group Co.
- Shanghai Electric Group Co. - Overview
- Shanghai Electric Group Co. - Product / Service
- Shanghai Electric Group Co. - Key offerings
- SWOT
15.16 Siemens Energy AG
- Siemens Energy AG - Overview
- Siemens Energy AG - Business segments
- Siemens Energy AG - Key news
- Siemens Energy AG - Key offerings
- Siemens Energy AG - Segment focus
- SWOT
15.17 Toshiba Corp.
- Toshiba Corp. - Overview
- Toshiba Corp. - Product / Service
- Toshiba Corp. - Key offerings
- SWOT
15.18 WEG S.A
- WEG S.A - Overview
- WEG S.A - Business segments
- WEG S.A - Key offerings
- WEG S.A - Segment focus
- SWOT

16 Appendix

16.1 Scope of the report
- Market definition
- Objectives
- Notes and caveats
16.2 Inclusions and exclusions checklist
- Inclusions checklist
- Exclusions checklist
16.3 Currency conversion rates for US$
- Currency conversion rates for US$
16.4 Research methodology
- Research methodology
16.5 Data procurement
- Information sources
16.6 Data validation
- Data validation
16.7 Validation techniques employed for market sizing
- Validation techniques employed for market sizing
16.8 Data synthesis
- Data synthesis
16.9 360 degree market analysis
- 360 degree market analysis
16.10 List of abbreviations
- List of abbreviations