Global Condensing Steam Turbine Market Growth 2025-2031

The global Condensing Steam Turbine market size is predicted to grow from US$ 4915 million in 2025 to US$ 6265 million in 2031; it is expected to grow at a CAGR of 4.1% from 2025 to 2031.

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.

LP Information, Inc. (LPI) ' newest research report, the “Condensing Steam Turbine Industry Forecast” looks at past sales and reviews total world Condensing Steam Turbine sales in 2024, providing a comprehensive analysis by region and market sector of projected Condensing Steam Turbine sales for 2025 through 2031. With Condensing Steam Turbine sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Condensing Steam Turbine industry.

This Insight Report provides a comprehensive analysis of the global Condensing Steam Turbine landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Condensing Steam Turbine portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Condensing Steam Turbine market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Condensing Steam Turbine and breaks down the forecast by Output, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Condensing Steam Turbine.

This report presents a comprehensive overview, market shares, and growth opportunities of Condensing Steam Turbine market by product type, application, key manufacturers and key regions and countries.

Segmentation by Output:
Above 300 MW
Below 300 MW

Segmentation by Application:
Industrial
Power Generation
Others

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
GE
Siemens
Mitsubishi Power
Doosan
Ebara Elliott
MAN
Fuji Electric
Kawasaki
HTC
Toshiba
Ansaldo
Power Machines

Key Questions Addressed in this Report

What is the 10-year outlook for the global Condensing Steam Turbine market?

What factors are driving Condensing Steam Turbine market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Condensing Steam Turbine market opportunities vary by end market size?

How does Condensing Steam Turbine break out by Output, by Application?

Please note: The report will take approximately 2 business days to prepare and deliver.