Steam Turbine Market Dynamics, Leading Players, Size, Trends, Development, Share, Plant Fuel, Capacity, Exhaust Type, Growth and Forecast To 2023

Steam Turbine Market, By Plant Fuel (Coal, Gas, Nuclear and others), Capacity (Up to 120 MW, 121-750 MW and Above 750 MW), Exhaust Type (Condensing steam turbines and Non-condensing steam turbines), End User Industry (Power & Utility, Industrial) and Region - Forecast 2017-2023

Pune, India - June 19, 2019 /MarketersMedia/ —

Market Research Future (MRFR) has released an extensive report on the global steam turbine market highlighting the key macro and micro-economic factors impacting the growth of the market over the forecast period of 2017-2023. MRFR has asserted that the steam turbine market would reach USD 19.21 Bn at a CAGR of 4.2% over the forecast period.

Steam turbines are used in thermal electricity generation plants, one of the older methods of power generation. Steam turbine consume less pace, have larger capacity and are designed for greater speed range.

Get Free Sample of Steam Turbine Market at:

Despite surging concerns regarding environmental degradation, coal-fired power generation has continued to increase in Asia Pacific. This is partly because, coal is found in abundance in the region which boosts the demand for steam turbines. Moreover, steam-cycle plants are easy to operate and very durable. In addition, steam turbines form an integral part of CCGT plants which adds to the market demand. In Europe and North America, majority of the power demands are met through CCGT capacity which forms a major chunk of the global steam turbine demand.

Steam turbine installations can significantly lead to incremental improvements in single power stations' operations due to which various power generation companies are investing in steam turbines to leverage the opportunity. Steam turbines are also key in the nuclear sector. Establishment of nuclear sector in developing countries is likely to propel the demand for steam turbines over the forecast period. Growing niche applications of steam turbines in concentrated solar power (CSP) where they contribute to emission-free energy facilities have been instrumental in driving the steam turbine market.  Steam turbines are also used in geothermal power plants which are commonplace in US, Iceland, Italy and east Africa.

Competitive Landscape

ABB (Switzerland), Alstom SA (France), General Electric (U.S.), Man Diesel & Turbo SE (Germany), Mitsubishi Hitachi Power Systems (Japan), Siemens AG (Germany), Elliott Group (U.S.), Fuji Electric Co., Ltd., (Japan), and Toshiba Corporation (Japan) are the leading players in the global steam turbine market.


The global steam turbine market has been segmented based on plant fuel, capacity, exhaust type, and end user.

By plant fuel, the steam turbine market has been segmented into coal, Gas, Nuclear and others.

By capacity, the steam turbine market has been segmented into Up to 120 MW, 121-750 MW and Above 750 MW.

By exhaust type, the steam turbine market has been segmented into condensing steam turbines and non-condensing steam turbines.

By end user, the steam turbine market has been segmented into Power & Utility, Industrial and others.

Regional Analysis 

By region, the steam turbine market has been segmented into North America, Rest-of-the-World (RoW), Europe, and Asia Pacific (APAC).

Asia Pacific is the largest market for steam turbine and is anticipated to capture the highest CAGR over the forecast period. Augmenting need for generation of electricity in the region has catapulted the demand for steam turbines. Continued development of coal-fired electricity power generation in the APAC region along with estimated rebound in in orders for combined-cycle gas turbine (CCGT) power stations is likely to propel the market growth over the forecast period. However, thermal power generation in Japan has witnessed a slowdown and power generation companies have drastically reduced their investment in equipment which might affect the market growth. Moreover, the region is making a transition towards cleaner energy resources which might affect the growth of the market.

The Europe steam turbine market is anticipated to exhibit sluggish growth rate over the forecast period. This can be attributed to shifting focus from traditional to cleaner and renewable energy sources.

Browse Full Report on Steam Turbine Market:

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.


Contact Info:
Name: Market Research Future
Email: Send Email
Organization: Market Research Future
Address: Market Research Future, Office No. 528, Amanora Chambers Pune - 411028 Maharashtra, India
Phone: +1 646 845 9312

Source URL:

Source: MarketersMedia

Release ID: 526702

Latest News

Companies reach tentative deal to settle opioids lawsuit

Oct 24, 2019

CLEVELAND — The nation's three dominant drug distributors and a big drugmaker have reached a tentative deal to settle a lawsuit related to the opioid crisis just as the first federal trial over the crisis was due to begin Monday, according to a lead lawyer for the local governments suing the drug industry. The tentative deal, details of which were to be announced later Monday, settles claims brought by the Ohio counties of Cuyahoga and Summit against distributors AmerisourceBergen, Cardinal Health and McKessen and the manufacturer Teva. After five drug manufacturers, including Johnson & Johnson, reached settlements leading up to...

Schumer calls for federal probe of contaminated baby food

Oct 24, 2019

NEW YORK — The Senate's top Democrat is calling on the Food and Drug Administration to examine a report that found dozens of baby food products contaminated with lead and other metals. Sen. Chuck Schumer says Sunday the FDA must take more action to regulate the baby food industry. A study by Healthy Babies Bright Futures found the presence of heavy metals in 95% of the 168 baby foods that were tested. The study found 95% of the food tested contained lead, arsenic, mercury or cadmium. It found one in four baby foods that were tested contained all four metals....

The Latest: Officials: Be kind to PG&E workers amid shut-off

Oct 24, 2019

SAN FRANCISCO — The Latest on power outages in California (all times local): 4:15 p.m. Authorities are asking the public to be kind to frontline utility workers in California as anger mounts against Pacific Gas and Electric over a power shutdown. PG&E is cutting power to customers in 34 counties as dry, gusty winds create dangerous wildfires conditions. The utility's faulty equipment was to blame for a deadly fire a year ago that killed 85 people and nearly wiped out the town of Paradise. Sacramento's KCRA-TV says the California Highway Patrol is investigating an incident Tuesday in Colusa County in...

Legos lying around? Toy maker tests way to recycle bricks

Oct 24, 2019

NEW YORK — Lego is looking to keep its plastic bricks out of the trash. The Danish toymaker is testing a way for customers to ship their unwanted bricks back and get them into the hands of other kids. It said Tuesday that customers in the U.S. can print out a mailing label on its site, dump their used Lego bricks in a box and ship them off for free. Lego said the pieces will be cleaned, put in a box and given to Teach for America, a nonprofit that will donate them to classrooms across the United States. Some...

Police: 3 dead, 1 missing after car plunges into canal

Oct 24, 2019

MIDDLETOWN, Del. — A car with five occupants plunged into a Delaware canal on Sunday and the driver helped a teenage girl to safety before dying in a bid to rescue three other passengers, two of whom were found dead after the car was hoisted from the water, authorities said. Delaware State Police said they initially found the body of the 18-year-old male driver in the water after he had helped a 16-year-old girl make it safely to shore. A police statement said two more passengers, boys ages 12 and 16, were pronounced dead hours later after the car they...

Emporium Post fulfils the need to know all things about consumers and how businesses can take this opportunity to reach their own customers.

Contact us:

Join our mailing list now!