Global Steam Turbine Market Growth 2023-2029

Global Steam Turbine Market Growth 2023-2029

Steam Turbine is a device that extracts thermal energy from pressurized steam and uses it to do mechanical work on a rotating output shaft.

LPI (LP Information)' newest research report, the “Steam Turbine Industry Forecast” looks at past sales and reviews total world Steam Turbine sales in 2022, providing a comprehensive analysis by region and market sector of projected Steam Turbine sales for 2023 through 2029. With Steam Turbine sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Steam Turbine industry.

This Insight Report provides a comprehensive analysis of the global 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 Steam Turbine portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Steam Turbine market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Steam Turbine and breaks down the forecast by type, 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 Steam Turbine.

The global Steam Turbine market size is projected to grow from US$ 6102.3 million in 2022 to US$ 6798.9 million in 2029; it is expected to grow at a CAGR of 6798.9 from 2023 to 2029.

Global Steam Turbine key players include GE, Siemens, MHPS, HTC, Doosan Skoda Power, etc. Global top five manufacturers hold a share over 65%.

Europe is the largest market, with a share over 35%, followed by North America and Asia-Pacific, both have a share over 55%.

In terms of product, Non-Condensing Steam Turbine is the largest segment, with a share about 60%. And in terms of application, the largest application is Power Generation, followed by Industrial, etc.

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

Market Segmentation:

Segmentation by type

Condensing Steam Turbine

Non-Condensing Steam Turbine

Segmentation by application

Power Generation

Industrial

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 analyzing the company's coverage, product portfolio, its market penetration.

GE

Siemens

DEC

Shanghai Electric

HTC

Harbin Turbine Company Limited

MHPS

MAN Power Engineering

Fuji Electric

Elliott Group

Doosan

Ansaldo Energia

Kawasaki

Power Machines

Toshiba

Ansaldo

Key Questions Addressed in this Report

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

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

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

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

How does Steam Turbine break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

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