Steam Turbine Market – Growth, Trends, COVID-19 Impact and Forecast (2023- 2029)

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Steam Turbine Market was valued at US$ 26.82 Bn in 2022. The Global Steam Turbine Market size is estimated to grow at a CAGR of 2.4% over the forecast period.

The steam turbine market was valued at US$26.82 billion in 2022. The global steam turbine market is estimated to grow at a CAGR of 2.4% over the forecast period.

Steam Turbine Market Overview:

The Steam Turbine market report includes New recent developments, trade rules, import-export assessment, business model, value chain optimization, market share, the impact of domestic and localized market participants, an evaluation of opportunity in terms of emerging income pockets, shifts in market restrictions, tactical market growth analysis, sales volume, segment’s market growths, application niches and dominance, product approvals, product releases, geographic regions, etc.


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Market Scope:

A competitor's information is provided in the highly competitive environment of the steam turbine market. The information includes a business overview, financials, revenue generated, market potential, research and development investment, new market efforts, geographical presence, firm advantages and disadvantages, product introduction, and application dominance. The information shown above is only related to the businesses' focus on the steam turbine industry.


  by Capacity Type

Up to 150 MW
151-300 MW
More than 300 MW

by Application

Power generation
Oil and gas

by Design


by Plant Type

Other Plant Types

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Key Players:

The major players covered in the Steam Turbine market report are

1. General Electric (GE) Co.
2. Turbine Generator Maintenance Inc.
3. Toshiba Corporation, Siemens AG
4. Arani power systems
5. Elliott Group
7. Doosan Škoda Power
8. Chola Turbo Machinery International Pvt. Ltd.
9. Mitsubishi Hitachi Power Systems Americas, Inc.
10. Ansaldo Energia

Regional Analysis:

The causes of the global steam turbine market's rise and the industry's numerous users are explored. Market participants, geographies, and special requirements all provide data. This study proposal is ready for the market and offers a full evaluation of all the important advancements that are now prevalent in all market sectors. Statistics, infographics, and demonstrations have been used to provide key data analysis.

COVID-19 Impact Analysis on the Steam Turbine Market:

The COVID-19 pandemic resulted in a severe and prolonged decline in production utilization, while travel bans and facility closures kept people away from their facilities, leading the steam turbine market to slow in 2029. The new research features COVID-19's impact on the steam turbine market, as well as insights, analysis, estimations, and projections.

Key questions answered in the Steam Turbine Market Report are:

  • Which segment was responsible for the largest share in the steam turbine market?
  • How was the competitive scenario of the steam turbine market in 2029?
  • Which are the key factors responsible for the steam turbine market's growth?
  • Which region held the maximum share in the steam turbine market in 2029?


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