Global Condensing Steam Turbine Market 2025 by Manufacturers, Regions, Type and Application, Forecast to 2031

According to our (Global Info Research) latest study, the global Condensing Steam Turbine market size was valued at US$ 5090 million in 2024 and is forecast to a readjusted size of USD 6498 million by 2031 with a CAGR of 3.9% during review period.

A condensing steam turbine is a type of steam turbine designed to maximize energy extraction from steam by condensing it into water at the turbine's exhaust. The turbine operates at a pressure lower than atmospheric pressure, allowing for maximum expansion of steam. This type of turbine is commonly used in power generation, particularly in large thermal, nuclear, and concentrated solar power plants.

The condensing steam turbine market plays a crucial role in the global power generation sector, providing a reliable and efficient means of converting thermal energy into mechanical and electrical energy. It is particularly dominant in applications requiring high-efficiency energy generation and integration with other systems such as cogeneration and district heating.

Market Trends

Shift Towards Renewable Energy: Condensing steam turbines are increasingly used in biomass and waste-to-energy plants, aligning with global decarbonization goals. Nuclear Power Revival: The resurgence of nuclear energy in countries focusing on energy security and low-carbon power generation is a significant trend. Condensing steam turbines are vital in nuclear plants for electricity generation. Efficiency Enhancements: These turbines operate at higher temperatures and pressures, enhancing efficiency and reducing emissions. Technologies like IoT, AI, and advanced sensors are being employed to optimize turbine performance and enable predictive maintenance. Emerging Markets: Rapid industrialization and energy demand in Asia-Pacific, Africa, and Latin America drive market growth. Countries such as China and India are leading in the deployment of condensing steam turbines for thermal and industrial applications. Retrofit and Modernization: Aging infrastructure in developed regions (e.g., North America and Europe) creates demand for retrofitting and upgrading condensing turbines to meet modern efficiency and environmental standards.

Market Drivers

Growing Energy Demand: Particularly in developing regions with rapid industrialization. Focus on Efficiency and Emission Reduction: Government policies worldwide are pushing for energy-efficient systems. Adoption in Renewable Energy Projects: Biomass, geothermal, and CSP plants rely heavily on condensing steam turbines.

Market Restraints

Competition from Alternative Technologies: Gas turbines and renewable technologies like wind and solar PV are competing with steam turbines. High Installation and Maintenance Costs: These turbines require significant upfront investment and ongoing operational costs.

This report is a detailed and comprehensive analysis for global Condensing Steam Turbine market. Both quantitative and qualitative analyses are presented by manufacturers, by region & country, by Output and by Application. As the market is constantly changing, this report explores the competition, supply and demand trends, as well as key factors that contribute to its changing demands across many markets. Company profiles and product examples of selected competitors, along with market share estimates of some of the selected leaders for the year 2025, are provided.

Key Features:

Global Condensing Steam Turbine market size and forecasts, in consumption value ($ Million), sales quantity (MW), and average selling prices (USD/KW), 2020-2031

Global Condensing Steam Turbine market size and forecasts by region and country, in consumption value ($ Million), sales quantity (MW), and average selling prices (USD/KW), 2020-2031

Global Condensing Steam Turbine market size and forecasts, by Output and by Application, in consumption value ($ Million), sales quantity (MW), and average selling prices (USD/KW), 2020-2031

Global Condensing Steam Turbine market shares of main players, shipments in revenue ($ Million), sales quantity (MW), and ASP (USD/KW), 2020-2025

The Primary Objectives in This Report Are:

To determine the size of the total market opportunity of global and key countries

To assess the growth potential for Condensing Steam Turbine

To forecast future growth in each product and end-use market

To assess competitive factors affecting the marketplace

This report profiles key players in the global Condensing Steam Turbine market based on the following parameters - company overview, sales quantity, revenue, price, gross margin, product portfolio, geographical presence, and key developments. Key companies covered as a part of this study include GE, Siemens, Mitsubishi Power, Doosan, Ebara Elliott, MAN, Fuji Electric, Kawasaki, HTC, Toshiba, etc.

This report also provides key insights about market drivers, restraints, opportunities, new product launches or approvals.

Market Segmentation

Condensing Steam Turbine market is split by Output and by Application. For the period 2020-2031, the growth among segments provides accurate calculations and forecasts for consumption value by Output, and by Application in terms of volume and value. This analysis can help you expand your business by targeting qualified niche markets.

Market segment by Output
Above 300 MW
Below 300 MW

Market segment by Application
Industrial
Power Generation
Others

Major players covered
GE
Siemens
Mitsubishi Power
Doosan
Ebara Elliott
MAN
Fuji Electric
Kawasaki
HTC
Toshiba
Ansaldo
Power Machines

Market segment by region, regional analysis covers

North America (United States, Canada, and Mexico)

Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)

Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)

South America (Brazil, Argentina, Colombia, and Rest of South America)

Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)

The content of the study subjects, includes a total of 15 chapters:

Chapter 1, to describe Condensing Steam Turbine product scope, market overview, market estimation caveats and base year.

Chapter 2, to profile the top manufacturers of Condensing Steam Turbine, with price, sales quantity, revenue, and global market share of Condensing Steam Turbine from 2020 to 2025.

Chapter 3, the Condensing Steam Turbine competitive situation, sales quantity, revenue, and global market share of top manufacturers are analyzed emphatically by landscape contrast.

Chapter 4, the Condensing Steam Turbine breakdown data are shown at the regional level, to show the sales quantity, consumption value, and growth by regions, from 2020 to 2031.

Chapter 5 and 6, to segment the sales by Output and by Application, with sales market share and growth rate by Output, by Application, from 2020 to 2031.

Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales quantity, consumption value, and market share for key countries in the world, from 2020 to 2025.and Condensing Steam Turbine market forecast, by regions, by Output, and by Application, with sales and revenue, from 2026 to 2031.

Chapter 12, market dynamics, drivers, restraints, trends, and Porters Five Forces analysis.

Chapter 13, the key raw materials and key suppliers, and industry chain of Condensing Steam Turbine.

Chapter 14 and 15, to describe Condensing Steam Turbine sales channel, distributors, customers, research findings and conclusion.