Global Steam Turbine Market Size to prosper at 5.47% CAGR through 2028

The most recent analysis of the ‘Global Steam Turbine Market’ informs readers of the factors influencing and restricting market growth. Business analysts predict that this industry will generate significant profits between 2022 and 2028.

Pune, India, Nov. 23, 2022 (GLOBE NEWSWIRE) -- MarketStudyReport recently added latest report, global Steam Turbine Market was worth USD 8,904 million in 2021 and is anticipated to witness a CAGR of 5.47% during 2022-2028, to amass USD 13,004.12 million by the end of the forecast period.

With a focus on geographical bifurcation, type, and application, the research assesses several industrial sub-segments to furnish an accurate understanding of the current market scenario. Then, in the section that follows, are a few significant elements that, during the course of the analysis period, altered market dynamics and generated substantial income. In addition to discussing the key rivals' methods for securing their market positions, the paper also discusses the sector's geographical structure.

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Growth Drivers & Restraints:

Increasing energy demand and consistent investments for capacity expansions are the major growth determinants for the industry.

For the unversed, steam turbines are devices that take thermal energy from pressurized steam and use it to perform mechanical work on a rotating output shaft. These turbines allow power plants to generate electricity effectively.

Furthermore, increasing attempts to close the energy demand and supply gaps are expected to contribute substantially to worldwide steam turbine market.

However, strict government regulations mandating the substitution of conventional energy sources with renewable ones may impede industrial growth in the coming years.

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Segmentation & Regional Overview:

Based on type terrain, the market is split into non-condensing steam turbine and condensing steam turbine. In terms of application, the industry is divided into industrial and power generation.

Regionally, the latest trends are studied across Asia Pacific, Europe, Middle East & Africa, North America, and South America. The report conducts a country-level analysis of these regions to ascertain the areas with the most potential for revenue generation during the review timeline for the stakeholders in global steam turbine market.

Competitive Dashboard:

The report offers a list of notable companies in the business landscape along with their strategic efforts & latest developments to help users to make precise decisions and expand their market presence along with increasing their revenue share. Toshiba Corporation, OJSC Power Machines, Kawasaki, Ansaldo Energia S.p.A., Doosan Group, Elliott Company, Fuji Electric Co., Ltd., MAN Power Engineering, Mitsubishi Power, Ltd., Harbin Turbine Co., Ltd., HTC Corporation, DEC, Siemens AG, and General Electric Company among others are the prominent players employing significant tactics and engaging in collaborative efforts such as mergers, acquisitions, and partnership deals to strengthen their foothold in global steam turbine industry.

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Global Steam Turbine Market, By Type (Value, USD Million, 2016-2028)

  • Non-Condensing Steam Turbine
  • Condensing Steam Turbine

Global Steam Turbine Market, By Application (Value, USD Million, 2016-2028)

  • Industrial
  • Power Generation

Global Steam Turbine Market, Geographical Fragmentation (Value, USD Million, 2016-2028)

North America

  • U.S
  • Canada
  • Mexico

South America

  • Argentina
  • Brazil
  • Rest of South America


  • Russia
  • Italy
  • France
  • Spain
  • UK
  • Germany
  • Rest of Europe

Asia Pacific

  • Australia
  • Singapore
  • India
  • China
  • Japan
  • New Zealand
  • Rest of Asia Pacific

Middle East & Africa

  • Turkey
  • South Africa
  • Africa
  • UAE
  • Iran
  • Rest of MEA

Global Steam Turbine Market, Company Profiles (Value, USD Million, 2016-2028)

  • Toshiba Corporation
  • OJSC Power Machines
  • Kawasaki
  • Shanghai Electric Group
  • Ansaldo Energia S.p.A.
  • MAN Power Engineering
  • Doosan Group
  • Elliott Company
  • Fuji Electric Co., Ltd.
  • Mitsubishi Power Ltd.
  • Harbin Turbine Co., Ltd.
  • HTC Corporation
  • DEC
  • Siemens AG
  • General Electric Company

Table of Content:

Chapter 1: Introduction

1.1 Research Objectives

1.2 Research Methodology

1.3 Research Process

1.4 Scope and Coverage

1.4.1 Market Definition

1.4.2 Key Questions Answered

1.5 Market Segmentation

Chapter 2: Executive Summary

Chapter 3: Growth Opportunities By Segment

3.1 By Type

3.2 By Application

Chapter 4: Market Landscape

4.1 Porter's Five Forces Analysis

4.2 Industry Value Chain Analysis

4.3 Market Dynamics

4.4 Pestle Analysis

4.5 Technological Roadmap

Chapter 5: Steam Turbine Market by Type

5.1 Steam Turbine Market Overview Snapshot and Growth Engine

5.2 Steam Turbine Market Overview

5.3 Condensing Steam Turbine

5.4 Non-Condensing Steam Turbine

Chapter 6: Steam Turbine Market by Application

6.1 Steam Turbine Market Overview Snapshot and Growth Engine

6.2 Steam Turbine Market Overview

6.3 Power Generation

6.3.1 Introduction and Market Overview

6.3.2 Historic and Forecasted Market Size (2016-2028F)

6.3.3 Key Market Trends, Growth Factors and Opportunities

6.3.4 Power Generation: Geographic Segmentation

6.4 Industrial

Chapter 7: Company Profiles and Competitive Analysis


1. What are global steam turbine market’s size and projections for 2022-2028?

2. How is global steam turbine market being shaped throughout the assessment timeline by COVID-19 and its impeding factors?

3. In global steam turbine market, what are the best segments and regions to invest in throughout the forecast period?

4. What is the competitive strategic window for growth potential in global steam turbine market?

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