STEAM TURBINE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2025-2032)

Steam Turbine Market, By Capacity (Up to 150 MW, 151 MW to 300 MW, More than 300 MW), By End Use (Power & Utility, Industrial), and By Geography (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa)

Published In: 01 Sep, 2025
Code: CMI5731
Pages: 138
Formats: Excel and PDF
Industry: Energy
- Historical Range: 2020 - 2024
- Forecast Period: 2025 - 2032

Steam turbine is a mechanical power plant that uses steam as a fuel to do work on a rotating shaft. The design of a steam turbine is a multi-disciplinary task that involves thermodynamics, aerodynamics and mechanical engineering. In addition to generating electricity, steam turbines can also be used for heating purposes. Industrial steam turbines use a mixture of high-pressure and low-pressure steam as their fuel. The difference between the pressures of the steam in the inlet and exhaust stages must be matched by a condenser to make steam turbines operate properly

Market Dynamics

The global steam turbine market is anticipated to experience moderate growth throughout the forecast period. This is attributed to the rapid industrialization and rising electricity demand, particularly in developing economies. In addition, an increase in the demand for combined-cycle natural gas plants is another prominent factor driving steam turbine market growth. Furthermore, the growing focus on clean energy, which is defined as a renewable source of power is further expected to drive market growth over the next few years.

On the other hand, regulatory and policy restrictions on fossil-fuel fired power plants are projected to restrain the growth of the steam turbine market during the forecast period.

Key features of the study

This report provides in-depth analysis of the global steam turbine market, and provides market size (USD Bn) and compound annual growth rate (CAGR%) for the forecast period 2025-2032, considering 2024 as the base year.
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
It profiles key players in the global steam turbine market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies.
Key companies covered as a part of this study include General Electric (GE), Siemens Energy, Mitsubishi Power, Ltd., TOSHIBA CORPORATION, Doosan Škoda Power, Ansaldo Energia S.p.A., Bharat Heavy Electricals Limited (BHEL), and Fuji Electric Co., Ltd.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
The global steam turbine market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global steam turbine market.

Market Segmentation

Global Steam Turbine Market, By Capacity
- Up to 150 MW
- 151 MW to 300 MW
- More than 300 MW
Global Steam Turbine Market, By End use
- Power & Utility
- Industrial
Global Steam Turbine Market, By Region
- North America
  - U.S.
  - Canada
- Latin America
  - Brazil
  - Argentina
  - Mexico
  - Rest of Latin America
- Europe
  - Germany
  - U.K.
  - Spain
  - France
  - Italy
  - Russia
  - Rest of Europe
- Asia Pacific
  - China
  - India
  - Japan
  - Australia
  - South Korea
  - ASEAN
  - Rest of Asia Pacific
- Middle East
  - GCC Countries
  - Israel
  - Rest of Middle East
- Africa
  - South Africa
  - North Africa
  - Central Africa
Key Players Insights
- General Electric (GE)
- Siemens Energy
- Mitsubishi Power, Ltd.
- Toshiba Corporation
- Doosan Škoda Power
- Ansaldo Energia S.p.A.
- Bharat Heavy Electricals Limited (BHEL)
- Fuji Electric Co., Ltd.

Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
Market Purview
- Report Description
  - Market Definition and Scope
- Executive Summary
  - Market Snapshot, By Capacity
  - Market Snapshot, By End Use
  - Market Snapshot, By Region
- Coherent Opportunity Map (COM)
Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
  - Increasing demand for electricity
  - Strict environmental emission regulations
  - Increasing population with growing housing construction
- Impact Analysis
- Key Highlights
- Regulatory Scenario
- Product launch/Approvals
- PEST Analysis
- PORTER’s Analysis
- Merger and Acquisition Scenario
Global Steam Turbine Market, By Capacity, 2020-2032, (USD Bn)
- Introduction
  - Market Share Analysis, 2025 and 2032 (%)
  - Y-o-Y Growth Analysis, 2021 – 2032
  - Segment Trends
- Up to 150 MW
  - Introduction
  - Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
- 151 MW to 300 MW
  - Introduction
  - Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
- More than 300 MW
  - Introduction
  - Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Global Steam Turbine Market, By End Use, 2020-2032, (USD Bn)
- Introduction
  - Market Share Analysis, 2025 and 2032 (%)
  - Y-o-Y Growth Analysis, 2021 – 2032
  - Segment Trends
- Power & Utility
  - Introduction
  - Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
- Industrial
  - Introduction
  - Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Global Steam Turbine Market, By Region, 2020-2032, (USD Bn)
- Introduction
  - Market Share Analysis, By Country, 2025 and 2032 (%)
  - Y-o-Y Growth Analysis, For Country 2021 – 2032
  - Country Trends
- North America
  - Introduction
  - Market Size and Forecast, and Y-o-Y Growth, By Capacity, 2020-2032, (USD Bn)
  - Market Size and Forecast, and Y-o-Y Growth, By End Use, 2020-2032, (USD Bn)
    - U.S.
    - Canada
- Europe
  - Introduction
  - Market Size and Forecast, and Y-o-Y Growth, By Capacity, 2020-2032, (USD Bn)
  - Market Size and Forecast, and Y-o-Y Growth, By End Use, 2020-2032, (USD Bn)
    - Germany
    - U.K.
    - Spain
    - France
    - Italy
    - Russia
    - Rest of Europe
- Asia Pacific
  - Introduction
  - Market Size and Forecast, and Y-o-Y Growth, By Capacity, 2020-2032, (USD Bn)
  - Market Size and Forecast, and Y-o-Y Growth, By End Use, 2020-2032, (USD Bn)
    - China
    - India
    - Japan
    - Australia
    - South Korea
    - ASEAN
    - Rest of Asia Pacific
- Latin America
  - Introduction
  - Market Size and Forecast, and Y-o-Y Growth, By Capacity, 2020-2032, (USD Bn)
  - Market Size and Forecast, and Y-o-Y Growth, By End Use, 2020-2032, (USD Bn)
    - Brazil
    - Argentina
    - Mexico
    - Rest of Latin America
- Middle East & Africa
  - Introduction
  - Market Size and Forecast, and Y-o-Y Growth, By Capacity, 2020-2032, (USD Bn)
  - Market Size and Forecast, and Y-o-Y Growth, By End Use, 2020-2032, (USD Bn)
    - GCC Countries
    - Israel
    - Rest of Middle East
    - South Africa
    - North Africa
    - Central Africa
Competitive Landscape
- General Electric (GE)
  - Company Highlights
  - Product Portfolio
  - Key Developments
  - Financial Performance
  - Strategies
- Siemens Energy
  - Company Highlights
  - Product Portfolio
  - Key Highlights
  - Financial Performance
  - Strategies
- Mitsubishi Power, Ltd.
  - Company Highlights
  - Product Portfolio
  - Key Highlights
  - Financial Performance
  - Strategies
- TOSHIBA CORPORATION
  - Company Highlights
  - Product Portfolio
  - Key Highlights
  - Financial Performance
  - Strategies
- Doosan Škoda Power
  - Company Highlights
  - Product Portfolio
  - Key Highlights
  - Financial Performance
  - Strategies
- Ansaldo Energia S.p.A.
  - Company Highlights
  - Product Portfolio
  - Key Highlights
  - Financial Performance
  - Strategies
- Bharat Heavy Electricals Limited (BHEL)
  - Company Highlights
  - Product Portfolio
  - Key Highlights
  - Financial Performance
  - Strategies
- Fuji Electric Co., Ltd.
  - Company Highlights
  - Product Portfolio
  - Key Highlights
  - Financial Performance
  - Strategies
- Analyst Views
Section
- Research Methodology
- About us

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