The global steam turbine market size is expected to reach USD 19.87 billion by 2030, according to a new study by Polaris Market Research. The report "Steam Turbine Market Share, Size, Trends, Industry Analysis Report, By Type (Steam Cycle, Combined Cycle, Cogeneration), By Design (Reaction, Impulse); By Fuel (Fossil Fuel, Biomass, Geothermal), By End-Use; By Region; Segment Forecast, 2022 - 2030" gives a detailed insight into current market dynamics and provides analysis on future market growth.
Asia Pacific region's high growth in the industry is mainly due to increased demand for electricity, rapid industrialization, and the development of more efficient turbines & technology. Since wood-plastic composites are used on a large scale to reduce vehicle weight, this advancement is predicted to affect the market directly.
As a result of their efficiency, low pollution, and optimum maintenance costs, renewable energy sources have gained popularity in developed and developing countries alike. In addition to these factors, global industry growth is constrained by a rise in demand for clean energy sources. These factors have contributed to driving the global market.
In natural gas-fired plants, they are not directly used, but combined cycle plants, which are the most efficient, do. In addition to the increased use of combined-cycle natural gas plants as a reliable energy source, there is also an increase in demand for the industry. Adding natural gas-fired power plants to the energy mix can promote a greener future since renewable resources cannot provide energy 24 hours a day.
Steam Turbine Market Report Highlights
The combined cycle segment is anticipated to grow at a significant CAGR over the forecast period because of generating electricity from waste materials.
Impulse accounted for a significant revenue share. This impulse segment to its compact size and economic properties. A significant factor driving industry demand is government investment in expanding infrastructure and an increase in demand from power generation industries.
The biomass segment is anticipated to grow at a lucrative CAGR over the forecast period. In recent years, captive power generation and combined heat and power systems have become increasingly popular.
Asia Pacific is expected to grow at a significant CAGR over the projected period on account of the Increase in building and construction activities in the Asia-Pacific countries, such as China and India. Because Asia Pacific vast population and development as the world's manufacturing hub will impact the electricity demand
The global market players include Toshiba Corporation, Fuji Electric, Istom SA, Mitsubishi Hitachi Power Systems, General Electric, Siemens, Man Diesel & Turbo, Bharat Heavy Electricals, Nanjing Turbine & Electric Machiner, others.
Polaris Market Research has segmented the steam turbine market report based on type, fuel, design, end-use, and region:
Steam Turbine, Type Outlook (Revenue - USD Billion, 2018 - 2030)
Steam Cycle
Combined Cycle
Cogeneration
Steam Turbine, Fuel Outlook (Revenue - USD Billion, 2018 - 2030)
Reaction
Impulse
Steam Turbine, Design Outlook (Revenue - USD Billion, 2018 - 2030)
Fossil Fuel
Biomass
Geothermal
Steam Turbine, End-Use Outlook (Revenue - USD Billion, 2018 - 2030)
Industrial
Utility
Steam Turbine, Regional Outlook (Revenue - USD Billion, 2018 - 2030)
North America
U.S
Canada
Europe
Germany
UK
France
Italy
Spain
Russia
Netherlands
Asia Pacific
China
India
Japan
South Korea
Indonesia
Malaysia
Latin America
Argentina
Brazil
Mexico
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
3. Research Methodology
- 3.1. Overview
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Steam Turbine Market Insights
- 4.1. Steam Turbine - Industry Snapshot
- 4.2. Steam Turbine Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Increasing Electricity Consumption
- 4.2.1.2. Increase in Combined Cycle and Co-Generation Operations
- 4.2.2. Restraints and Challenges
- 4.2.2.1. Regulatory Policy Restrictions on Fossil-Fuel Fired Power Plants
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTLE Analysis
- 4.5. Steam Turbine Industry Trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Steam Turbine Market, by Design
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Steam Turbine Market, by Design, 2018 - 2030 (USD Billion)
- 5.3. Reaction
- 5.3.1. Global Steam Turbine Market, by Reaction, by Region, 2018 - 2030 (USD Billion)
- 5.4. Impulse
- 5.4.1. Global Steam Turbine Market, by Impulse, by Region, 2018 - 2030 (USD Billion)
6. Global Steam Turbine Market, by Fuel
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Steam Turbine Market, by Fuel, 2018 - 2030 (USD Billion)
- 6.3. Fossil Fuel
- 6.3.1. Global Steam Turbine Market, by Fossil Fuel, by Region, 2018 - 2030 (USD Billion)
- 6.4. Biomass
- 6.4.1. Global Steam Turbine Market, by Biomass, by Region, 2018 - 2030 (USD Billion)
- 6.5. Geothermal
- 6.5.1. Global Steam Turbine Market, by Geothermal, by Region, 2018 - 2030 (USD Billion)
7. Global Steam Turbine Market, by Type
- 7.1. Key Findings
- 7.2. Introduction
- 7.2.1. Global Steam Turbine Market, by Type, 2018 - 2030 (USD Billion)
- 7.3. Steam Cycle
- 7.3.1. Global Steam Turbine Market, by Steam Cycle, by Region, 2018 - 2030 (USD Billion)
- 7.4. Combined Cycle
- 7.4.1. Global Steam Turbine Market, by Combined Cycle, by Region, 2018 - 2030 (USD Billion)
- 7.5. Cogeneration
- 7.5.1. Global Steam Turbine Market, by Cogeneration, by Region, 2018 - 2030 (USD Billion)
8. Global Steam Turbine Market, by End-Use
- 8.1. Key Findings
- 8.2. Introduction
- 8.2.1. Global Steam Turbine Market, by End-Use, 2018 - 2030 (USD Billion)
- 8.3. Industrial
- 8.3.1. Global Steam Turbine Market, by Industrial, by Region, 2018 - 2030 (USD Billion)
- 8.4. Utility
- 8.4.1. Global Steam Turbine Market, by Utility, by Region, 2018 - 2030 (USD Billion)
9. Global Steam Turbine Market, by Geography
- 9.1. Key findings
- 9.2. Introduction
- 9.2.1. Steam Turbine Market Assessment, By Geography, 2018 - 2030 (USD Billion)
- 9.3. Steam Turbine Market - North America
- 9.3.1. North America: Steam Turbine Market, by Design, 2018 - 2030 (USD Billion)
- 9.3.2. North America: Steam Turbine Market, by End-Use, 2018 - 2030 (USD Billion)
- 9.3.3. North America: Steam Turbine Market, by Fuel, 2018 - 2030 (USD Billion)
- 9.3.4. North America: Steam Turbine Market, by Type, 2018 - 2030 (USD Billion)
- 9.3.5. Steam Turbine Market - U.S.
- 9.3.5.1. U.S.: Steam Turbine Market, by Design, 2018 - 2030 (USD Billion)
- 9.3.5.2. U.S.: Steam Turbine Market, by End-Use, 2018 - 2030 (USD Billion)
- 9.3.5.3. U.S.: Steam Turbine Market, by Fuel, 2018 - 2030 (USD Billion)
- 9.3.5.4. U.S.: Steam Turbine Market, by Type, 2018 - 2030 (USD Billion)
- 9.3.6. Steam Turbine Market - Canada
- 9.3.6.1. Canada: Steam Turbine Market, by Design, 2018 - 2030 (USD Billion)
- 9.3.6.2. Canada: Steam Turbine Market, by End-Use, 2018 - 2030 (USD Billion)
- 9.3.6.3. Canada: Steam Turbine Market, by Fuel, 2018 - 2030 (USD Billion)
- 9.3.6.4. Canada: Steam Turbine Market, by Type, 2018 - 2030 (USD Billion)
- 9.4. Steam Turbine Market - Europe
- 9.4.1. Europe: Steam Turbine Market, by Design, 2018 - 2030 (USD Billion)
- 9.4.2. Europe: Steam Turbine Market, by End-Use, 2018 - 2030 (USD Billion)
- 9.4.3. Europe: Steam Turbine Market, by Fuel, 2018 - 2030 (USD Billion)
- 9.4.4. Europe: Steam Turbine Market, by Type, 2018 - 2030 (USD Billion)
- 9.4.5. Steam Turbine Market - UK
- 9.4.5.1. UK: Steam Turbine Market, by Design, 2018 - 2030 (USD Billion)
- 9.4.5.2. UK: Steam Turbine Market, by End-Use, 2018 - 2030 (USD Billion)
- 9.4.5.3. UK: Steam Turbine Market, by Fuel, 2018 - 2030 (USD Billion)
- 9.4.5.4. UK: Steam Turbine Market, by Type, 2018 - 2030 (USD Billion)
- 9.4.6. Steam Turbine Market - France
- 9.4.6.1. France: Steam Turbine Market, by Design, 2018 - 2030 (USD Billion)
- 9.4.6.2. France: Steam Turbine Market, by End-Use, 2018 - 2030 (USD Billion)
- 9.4.6.3. France: Steam Turbine Market, by Fuel, 2018 - 2030 (USD Billion)
- 9.4.6.4. France: Steam Turbine Market, by Type, 2018 - 2030 (USD Billion)
- 9.4.7. Steam Turbine Market - Germany
- 9.4.7.1. Germany: Steam Turbine Market, by Design, 2018 - 2030 (USD Billion)
- 9.4.7.2. Germany: Steam Turbine Market, by End-Use, 2018 - 2030 (USD Billion)
- 9.4.7.3. Germany: Steam Turbine Market, by Fuel, 2018 - 2030 (USD Billion)
- 9.4.7.4. Germany: Steam Turbine Market, by Type, 2018 - 2030 (USD Billion)
- 9.4.8. Steam Turbine Market - Italy
- 9.4.8.1. Italy: Steam Turbine Market, by Design, 2018 - 2030 (USD Billion)
- 9.4.8.2. Italy: Steam Turbine Market, by End-Use, 2018 - 2030 (USD Billion)
- 9.4.8.3. Italy: Steam Turbine Market, by Fuel, 2018 - 2030 (USD Billion)
- 9.4.8.4. Italy: Steam Turbine Market, by Type, 2018 - 2030 (USD Billion)
- 9.4.9. Steam Turbine Market - Spain
- 9.4.9.1. Spain: Steam Turbine Market, by Design, 2018 - 2030 (USD Billion)
- 9.4.9.2. Spain: Steam Turbine Market, by End-Use, 2018 - 2030 (USD Billion)
- 9.4.9.3. Spain: Steam Turbine Market, by Fuel, 2018 - 2030 (USD Billion)
- 9.4.9.4. Spain: Steam Turbine Market, by Type, 2018 - 2030 (USD Billion)
- 9.4.10. Steam Turbine Market - Netherlands
- 9.4.10.1. Netherlands: Steam Turbine Market, by Design, 2018 - 2030 (USD Billion)
- 9.4.10.2. Netherlands: Steam Turbine Market, by End-Use, 2018 - 2030 (USD Billion)
- 9.4.10.3. Netherlands: Steam Turbine Market, by Fuel, 2018 - 2030 (USD Billion)
- 9.4.10.4. Netherlands: Steam Turbine Market, by Type, 2018 - 2030 (USD Billion)
- 9.4.11. Steam Turbine Market - Russia
- 9.4.11.1. Russia: Steam Turbine Market, by Design, 2018 - 2030 (USD Billion)
- 9.4.11.2. Russia.: Steam Turbine Market, by End-Use, 2018 - 2030 (USD Billion)
- 9.4.11.3. Russia: Steam Turbine Market, by Fuel, 2018 - 2030 (USD Billion)
- 9.4.11.4. Russia: Steam Turbine Market, by Type, 2018 - 2030 (USD Billion)
- 9.5. Steam Turbine Market - Asia Pacific
- 9.5.1. Asia Pacific: Steam Turbine Market, by Design, 2018 - 2030 (USD Billion)
- 9.5.2. Asia Pacific: Steam Turbine Market, by End-Use, 2018 - 2030 (USD Billion)
- 9.5.3. Asia Pacific: Steam Turbine Market, by Fuel, 2018 - 2030 (USD Billion)
- 9.5.4. Asia Pacific: Steam Turbine Market, by Type, 2018 - 2030 (USD Billion)
- 9.5.5. Steam Turbine Market - China
- 9.5.5.1. China: Steam Turbine Market, by Design, 2018 - 2030 (USD Billion)
- 9.5.5.2. China.: Steam Turbine Market, by End-Use, 2018 - 2030 (USD Billion)
- 9.5.5.3. China: Steam Turbine Market, by Fuel, 2018 - 2030 (USD Billion)
- 9.5.5.4. China: Steam Turbine Market, by Type, 2018 - 2030 (USD Billion)
- 9.5.6. Steam Turbine Market - India
- 9.5.6.1. India: Steam Turbine Market, by Design, 2018 - 2030 (USD Billion)
- 9.5.6.2. India.: Steam Turbine Market, by End-Use, 2018 - 2030 (USD Billion)
- 9.5.6.3. India: Steam Turbine Market, by Fuel, 2018 - 2030 (USD Billion)
- 9.5.6.4. India: Steam Turbine Market, by Type, 2018 - 2030 (USD Billion)
- 9.5.7. Steam Turbine Market - Japan
- 9.5.7.1. Japan: Steam Turbine Market, by Design, 2018 - 2030 (USD Billion)
- 9.5.7.2. Japan.: Steam Turbine Market, by End-Use, 2018 - 2030 (USD Billion)
- 9.5.7.3. Japan: Steam Turbine Market, by Fuel, 2018 - 2030 (USD Billion)
- 9.5.7.4. Japan: Steam Turbine Market, by Type, 2018 - 2030 (USD Billion)
- 9.5.8. Steam Turbine Market - Malaysia
- 9.5.8.1. Malaysia: Steam Turbine Market, by Design, 2018 - 2030 (USD Billion)
- 9.5.8.2. Malaysia.: Steam Turbine Market, by End-Use, 2018 - 2030 (USD Billion)
- 9.5.8.3. Malaysia: Steam Turbine Market, by Fuel, 2018 - 2030 (USD Billion)
- 9.5.8.4. Malaysia: Steam Turbine Market, by Type, 2018 - 2030 (USD Billion)
- 9.5.9. Steam Turbine Market - Indonesia
- 9.5.9.1. Indonesia: Steam Turbine Market, by Design, 2018 - 2030 (USD Billion)
- 9.5.9.2. Indonesia.: Steam Turbine Market, by End-Use, 2018 - 2030 (USD Billion)
- 9.5.9.3. Indonesia: Steam Turbine Market, by Fuel, 2018 - 2030 (USD Billion)
- 9.5.9.4. Indonesia: Steam Turbine Market, by Type, 2018 - 2030 (USD Billion)
- 9.5.10. Steam Turbine Market - South Korea
- 9.5.10.1. South Korea: Steam Turbine Market, by Design, 2018 - 2030 (USD Billion)
- 9.5.10.2. South Korea.: Steam Turbine Market, by End-Use, 2018 - 2030 (USD Billion)
- 9.5.10.3. South Korea: Steam Turbine Market, by Fuel, 2018 - 2030 (USD Billion)
- 9.5.10.4. South Korea: Steam Turbine Market, by Type, 2018 - 2030 (USD Billion)
- 9.6. Steam Turbine Market - Middle East & Africa
- 9.6.1. Middle East & Africa: Steam Turbine Market, by Design, 2018 - 2030 (USD Billion)
- 9.6.2. Middle East & Africa: Steam Turbine Market, by End-Use, 2018 - 2030 (USD Billion)
- 9.6.3. Middle East & Africa: Steam Turbine Market, by Fuel, 2018 - 2030 (USD Billion)
- 9.6.4. Middle East & Africa: Steam Turbine Market, by Type, 2018 - 2030 (USD Billion)
- 9.6.5. Steam Turbine Market - Saudi Arabia
- 9.6.5.1. Saudi Arabia: Steam Turbine Market, by Design, 2018 - 2030 (USD Billion)
- 9.6.5.2. Saudi Arabia: Steam Turbine Market, by End-Use, 2018 - 2030 (USD Billion)
- 9.6.5.3. Saudi Arabia: Steam Turbine Market, by Fuel, 2018 - 2030 (USD Billion)
- 9.6.5.4. Saudi Arabia: Steam Turbine Market, by Type, 2018 - 2030 (USD Billion)
- 9.6.6. Steam Turbine Market - South Africa
- 9.6.6.1. South Africa: Steam Turbine Market, by Design, 2018 - 2030 (USD Billion)
- 9.6.6.2. South Africa: Steam Turbine Market, by End-Use, 2018 - 2030 (USD Billion)
- 9.6.6.3. South Africa: Steam Turbine Market, by Fuel, 2018 - 2030 (USD Billion)
- 9.6.6.4. South Africa: Steam Turbine Market, by Type, 2018 - 2030 (USD Billion)
- 9.6.7. Steam Turbine Market - Israel
- 9.6.7.1. Israel: Steam Turbine Market, by Design, 2018 - 2030 (USD Billion)
- 9.6.7.2. Israel: Steam Turbine Market, by End-Use, 2018 - 2030 (USD Billion)
- 9.6.7.3. Israel: Steam Turbine Market, by Fuel, 2018 - 2030 (USD Billion)
- 9.6.7.4. Israel: Steam Turbine Market, by Type, 2018 - 2030 (USD Billion)
- 9.6.8. Steam Turbine Market - UAE
- 9.6.8.1. UAE: Steam Turbine Market, by Design, 2018 - 2030 (USD Billion)
- 9.6.8.2. UAE: Steam Turbine Market, by End-Use, 2018 - 2030 (USD Billion)
- 9.6.8.3. UAE: Steam Turbine Market, by Fuel, 2018 - 2030 (USD Billion)
- 9.6.8.4. UAE: Steam Turbine Market, by Type, 2018 - 2030 (USD Billion)
- 9.7. Steam Turbine Market - Latin America
- 9.7.1. Latin America: Steam Turbine Market, by Design, 2018 - 2030 (USD Billion)
- 9.7.2. Latin America: Steam Turbine Market, by End-Use, 2018 - 2030 (USD Billion)
- 9.7.3. Latin America: Steam Turbine Market, by Fuel, 2018 - 2030 (USD Billion)
- 9.7.4. Latin America: Steam Turbine Market, by Type, 2018 - 2030 (USD Billion)
- 9.7.5. Steam Turbine Market - Mexico
- 9.7.5.1. Mexico: Steam Turbine Market, by Design, 2018 - 2030 (USD Billion)
- 9.7.5.2. Mexico: Steam Turbine Market, by End-Use, 2018 - 2030 (USD Billion)
- 9.7.5.3. Mexico: Steam Turbine Market, by Fuel, 2018 - 2030 (USD Billion)
- 9.7.5.4. Mexico: Steam Turbine Market, by Type, 2018 - 2030 (USD Billion)
- 9.7.6. Steam Turbine Market - Brazil
- 9.7.6.1. Brazil: Steam Turbine Market, by Design, 2018 - 2030 (USD Billion)
- 9.7.6.2. Brazil: Steam Turbine Market, by End-Use, 2018 - 2030 (USD Billion)
- 9.7.6.3. Brazil: Steam Turbine Market, by Fuel, 2018 - 2030 (USD Billion)
- 9.7.6.4. Brazil: Steam Turbine Market, by Type, 2018 - 2030 (USD Billion)
- 9.7.7. Steam Turbine Market - Argentina
- 9.7.7.1. Argentina: Steam Turbine Market, by Design, 2018 - 2030 (USD Billion)
- 9.7.7.2. Argentina: Steam Turbine Market, by End-Use, 2018 - 2030 (USD Billion)
- 9.7.7.3. Argentina: Steam Turbine Market, by Fuel, 2018 - 2030 (USD Billion)
- 9.7.7.4. Argentina: Steam Turbine Market, by Type, 2018 - 2030 (USD Billion)
10. Competitive Landscape
- 10.1. Expansion and Acquisition Analysis
- 10.1.1. Expansion
- 10.1.2. Acquisitions
- 10.2. Partnerships/Collaborations/Agreements/Exhibitions
11. Company Profiles
- 11.1. Toshiba Corporation
- 11.1.1. Company Overview
- 11.1.2. Financial Performance
- 11.1.3. Product Benchmarking
- 11.1.4. Recent Development
- 11.2. Mitsubishi Hitachi s
- 11.2.1. Company Overview
- 11.2.2. Financial Performance
- 11.2.3. Product Benchmarking
- 11.2.4. Recent Development
- 11.3. Fuji Electric
- 11.3.1. Company Overview
- 11.3.2. Financial Performance
- 11.3.3. Product Benchmarking
- 11.3.4. Recent Development
- 11.4. Istom SA
- 11.4.1. Company Overview
- 11.4.2. Financial Performance
- 11.4.3. Product Benchmarking
- 11.4.4. Recent Development
- 11.5. General Electric
- 11.5.1. Company Overview
- 11.5.2. Financial Performance
- 11.5.3. Product Benchmarking
- 11.5.4. Recent Development
- 11.6. Siemens AG
- 11.6.1. Company Overview
- 11.6.2. Financial Performance
- 11.6.3. Product Benchmarking
- 11.6.4. Recent Development
- 11.7. Bharat Heavy Electricals
- 11.7.1. Company Overview
- 11.7.2. Financial Performance
- 11.7.3. Product Benchmarking
- 11.7.4. Recent Development
- 11.8. Man Diesel
- 11.8.1. Company Overview
- 11.8.2. Financial Performance
- 11.8.3. Product Benchmarking
- 11.8.4. Recent Development
- 11.9. Nanjing Turbine & Electric
- 11.9.1. Company Overview
- 11.9.2. Financial Performance
- 11.9.3. Product Benchmarking
- 11.9.4. Recent Development
- 11.10. Trillium Flow Technologies
- 11.10.1. Company Overview
- 11.10.2. Financial Performance
- 11.10.3. Product Benchmarking
- 11.10.4. Recent Development
- 11.11. Arani power
- 11.11.1. Company Overview
- 11.11.2. Financial Performance
- 11.11.3. Product Benchmarking
- 11.11.4. Recent Development
- 11.12. Doosan Skoda Power
- 11.12.1. Company Overview
- 11.12.2. Financial Performance
- 11.12.3. Product Benchmarking
- 11.12.4. Recent Development
- 11.13. Kawasaki Heavy Industries
- 11.13.1. Company Overview
- 11.13.2. Financial Performance
- 11.13.3. Product Benchmarking
- 11.13.4. Recent Development
- 11.14. Ansaldo Energia
- 11.14.1. Company Overview
- 11.14.2. Financial Performance
- 11.14.3. Product Benchmarking
- 11.14.4. Recent Development
- 11.15. Dongfang Electric
- 11.15.1. Company Overview
- 11.15.2. Financial Performance
- 11.15.3. Product Benchmarking
- 11.15.4. Recent Development