Global Steam Turbines Market Growth 2024-2030

Global Steam Turbines Market Growth 2024-2030

According to our LPI (LP Information) latest study, the global Steam Turbines market size was valued at US$ 6102.3 million in 2023. With growing demand in downstream market, the Steam Turbines is forecast to a readjusted size of US$ 7921 million by 2030 with a CAGR of 3.8% during review period.

The research report highlights the growth potential of the global Steam Turbines market. Steam Turbines are expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimization remain crucial for the widespread adoption of Steam Turbines. Market players need to invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalize on the immense opportunities presented by the Steam Turbines market.

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

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 62%, followed by North America and Asia-Pacific, both have a sha᯹

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