Steam Turbine MRO Market

Published Feb 15, 2025

Length 352 Pages

SKU # ALMR20275310

Description

The Steam turbine MRO industry generated $22.6 billion in 2023 and is anticipated to generate $37.4 billion by 2033, witnessing a CAGR of 5.2% from 2024 to 2033.

Steam Turbine Maintenance, Repair, and Overhaul (MRO) encompasses essential services that keep steam turbines operating efficiently across industries like power generation and manufacturing. It involves inspecting components, diagnosing faults, replacing worn parts, and upgrading systems to enhance performance. Predictive maintenance techniques, including vibration analysis and thermal imaging, help identify potential failures before they occur. As industries strive for improved energy efficiency and reduced downtime, MRO services play a crucial role in optimizing turbine functionality. Advancements in digital monitoring and automation further streamline maintenance, ensuring reliable and cost-effective turbine operations over time.

As steam turbines age, their efficiency declines due to wear and tear on critical components such as blades, bearings, and rotors. Many power plants and industrial facilities operate decades-old turbines that require frequent maintenance, repairs, and overhauls to ensure reliability and prevent unexpected failures. Instead of costly replacements, operators prefer MRO services to extend equipment lifespan and improve performance. In addition, aging infrastructure increases the demand for upgrades and retrofits to meet modern efficiency and emission standards. This growing need for continuous service and refurbishment is a key factor driving the expansion of the steam turbine MRO market globally.

However, high initial investment costs are a significant restraint for the steam turbine MRO market. The advanced technology, equipment, and skilled labor required for turbine maintenance and repairs involve substantial upfront expenditures. Many companies, especially in emerging markets, may struggle to allocate such funds, which limits their ability to invest in optimal maintenance practices. In addition, frequent overhauls and the need for specialized parts can increase the financial burden. These high costs can delay or reduce the adoption of effective MRO solutions, thereby impacting the overall efficiency and performance of turbines in the long run. All these factors are expected to hamper the steam turbine MRO market growth.

The growing demand for efficient and sustainable turbine operations presents a lucrative opportunity for the steam turbine MRO market. As industries prioritize reducing carbon emissions and energy consumption, there is a heightened focus on optimizing turbine performance. Regular MRO services, including upgrades and retrofits, ensure turbines operate at peak efficiency, thereby minimizing waste and energy loss. Moreover, advancements in sustainable technologies, such as improved materials and energy-efficient designs, are driving demand for specialized maintenance services. This trend encourages MRO providers to adopt innovative solutions, enhancing both the environmental sustainability and profitability of turbine operations.

The steam turbine MRO market is segmented into service type, service provider, fuel type, capacity, end-use industry, and region. On the basis of service type, the market is divided into maintenance, repair, and overhaul. On the basis of service provider, the market is classified into original equipment manufacturers, independent service providers, and In-house. On the basis of fuel type, the market is segregated into coal, natural gas, and nuclear. By capacity, the market is divided into less than 300 MW, 300 MW to 599 MW, 600 MW and above. On the basis of end-use industry, the market is classified into power generation, oil and gas, others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players analyzed in the report are Hyundai Heavy Industries Co., Ltd., Siemens AG, Kessels, Shanghai Electric, Ansaldo Energia, Stork, Sulzer Ltd., General Electric Company, Mitsubishi Power, and Elliott Group IE.

Key Benefits For Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the steam turbine mro market analysis from 2023 to 2033 to identify the prevailing steam turbine mro market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the steam turbine mro market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global steam turbine mro market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Service Type

Overhaul
Maintenance
Repair

By Service Provider

Original Equipment Manufacturers
Independent Service Providers
In-House

By Fuel Type

Coal
Natural Gas
Nuclear

By Capacity

Less than 300 MW
300 MW to 599 MW
600 MW and Above

By End-Use Industry

Power Generation
Oil and Gas
Others

By Region

North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Kessels
Ansaldo Energia
Siemens AG
Mitsubishi Power
General Electric Company
Shanghai Electric
Stork
HD Hyundai Heavy Industries Co., Ltd.
Sulzer Ltd
Elliott Group IEThe research methodology of the global market involves extensive primary and secondary research. Primary research includes about over 12 hours of interviews and discussion with a wide range of stakeholders, including upstream and downstream participants. The primary research typically is the bulk of our research efforts; however, coherently supported by extensive secondary research. Researchers have reviewed over 6,765 product literatures, industry releases, annual reports, and other such documents of key industry participants to obtain better market understanding and gain competitive intelligence. In addition, authentic industry journals, trade associations' releases,and government websites have also been reviewed for generating high-value industry insights.

CHAPTER 1: INTRODUCTION: 1.1. Report description; 1.2. Key market segments; 1.3. Key benefits to the stakeholders; 1.4. Research methodology; 1.4.1. Primary research; 1.4.2. Secondary research; 1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY: 2.1. CXO perspective
CHAPTER 3: MARKET OVERVIEW: 3.1. Market definition and scope; 3.2. Key findings; 3.2.1. Top impacting factors; 3.2.2. Top investment pockets; 3.3. Porter’s five forces analysis; 3.3.1. Moderate bargaining power of suppliers; 3.3.2. Moderate threat of new entrants; 3.3.3. Low threat of substitutes; 3.3.4. High intensity of rivalry; 3.3.5. Moderate bargaining power of buyers; 3.4. Market dynamics; 3.4.1. Drivers; 3.4.1.1. Rise In investments in infrastructure and heavy industries; 3.4.1.2. Growth in demand for reliable power generation; 3.4.2. Restraints; 3.4.2.1. Lack of skilled workforce; 3.4.3. Opportunities; 3.4.3.1. Increasing adoption of predictive maintenance technologies; 3.5. Value Chain Analysis; 3.6. Regulatory Guidelines
CHAPTER 4: STEAM TURBINE MRO MARKET, BY SERVICE TYPE: 4.1. Overview; 4.1.1. Market size and forecast; 4.2. Maintenance; 4.2.1. Key market trends, growth factors and opportunities; 4.2.2. Market size and forecast, by region; 4.2.3. Market share analysis by country; 4.3. Repair; 4.3.1. Key market trends, growth factors and opportunities; 4.3.2. Market size and forecast, by region; 4.3.3. Market share analysis by country; 4.4. Overhaul; 4.4.1. Key market trends, growth factors and opportunities; 4.4.2. Market size and forecast, by region; 4.4.3. Market share analysis by country
CHAPTER 5: STEAM TURBINE MRO MARKET, BY SERVICE PROVIDER: 5.1. Overview; 5.1.1. Market size and forecast; 5.2. Original Equipment Manufacturers; 5.2.1. Key market trends, growth factors and opportunities; 5.2.2. Market size and forecast, by region; 5.2.3. Market share analysis by country; 5.3. Independent Service Providers; 5.3.1. Key market trends, growth factors and opportunities; 5.3.2. Market size and forecast, by region; 5.3.3. Market share analysis by country; 5.4. In-House; 5.4.1. Key market trends, growth factors and opportunities; 5.4.2. Market size and forecast, by region; 5.4.3. Market share analysis by country
CHAPTER 6: STEAM TURBINE MRO MARKET, BY FUEL TYPE: 6.1. Overview; 6.1.1. Market size and forecast; 6.2. Coal; 6.2.1. Key market trends, growth factors and opportunities; 6.2.2. Market size and forecast, by region; 6.2.3. Market share analysis by country; 6.3. Natural Gas; 6.3.1. Key market trends, growth factors and opportunities; 6.3.2. Market size and forecast, by region; 6.3.3. Market share analysis by country; 6.4. Nuclear; 6.4.1. Key market trends, growth factors and opportunities; 6.4.2. Market size and forecast, by region; 6.4.3. Market share analysis by country
CHAPTER 7: STEAM TURBINE MRO MARKET, BY CAPACITY: 7.1. Overview; 7.1.1. Market size and forecast; 7.2. Less than 300 MW; 7.2.1. Key market trends, growth factors and opportunities; 7.2.2. Market size and forecast, by region; 7.2.3. Market share analysis by country; 7.3. 300 MW to 599 MW; 7.3.1. Key market trends, growth factors and opportunities; 7.3.2. Market size and forecast, by region; 7.3.3. Market share analysis by country; 7.4. 600 MW and Above; 7.4.1. Key market trends, growth factors and opportunities; 7.4.2. Market size and forecast, by region; 7.4.3. Market share analysis by country
CHAPTER 8: STEAM TURBINE MRO MARKET, BY END-USE INDUSTRY: 8.1. Overview; 8.1.1. Market size and forecast; 8.2. Power Generation; 8.2.1. Key market trends, growth factors and opportunities; 8.2.2. Market size and forecast, by region; 8.2.3. Market share analysis by country; 8.3. Oil and Gas; 8.3.1. Key market trends, growth factors and opportunities; 8.3.2. Market size and forecast, by region; 8.3.3. Market share analysis by country; 8.4. Others; 8.4.1. Key market trends, growth factors and opportunities; 8.4.2. Market size and forecast, by region; 8.4.3. Market share analysis by country
CHAPTER 9: STEAM TURBINE MRO MARKET, BY REGION: 9.1. Overview; 9.1.1. Market size and forecast By Region; 9.2. North America; 9.2.1. Key market trends, growth factors and opportunities; 9.2.2. Market size and forecast, by Service Type; 9.2.3. Market size and forecast, by Service Provider; 9.2.4. Market size and forecast, by Fuel Type; 9.2.5. Market size and forecast, by Capacity; 9.2.6. Market size and forecast, by End-Use Industry; 9.2.7. Market size and forecast, by country; 9.2.7.1. U.S.; 9.2.7.1.1. Market size and forecast, by Service Type; 9.2.7.1.2. Market size and forecast, by Service Provider; 9.2.7.1.3. Market size and forecast, by Fuel Type; 9.2.7.1.4. Market size and forecast, by Capacity; 9.2.7.1.5. Market size and forecast, by End-Use Industry; 9.2.7.2. Canada; 9.2.7.2.1. Market size and forecast, by Service Type; 9.2.7.2.2. Market size and forecast, by Service Provider; 9.2.7.2.3. Market size and forecast, by Fuel Type; 9.2.7.2.4. Market size and forecast, by Capacity; 9.2.7.2.5. Market size and forecast, by End-Use Industry; 9.2.7.3. Mexico; 9.2.7.3.1. Market size and forecast, by Service Type; 9.2.7.3.2. Market size and forecast, by Service Provider; 9.2.7.3.3. Market size and forecast, by Fuel Type; 9.2.7.3.4. Market size and forecast, by Capacity; 9.2.7.3.5. Market size and forecast, by End-Use Industry; 9.3. Europe; 9.3.1. Key market trends, growth factors and opportunities; 9.3.2. Market size and forecast, by Service Type; 9.3.3. Market size and forecast, by Service Provider; 9.3.4. Market size and forecast, by Fuel Type; 9.3.5. Market size and forecast, by Capacity; 9.3.6. Market size and forecast, by End-Use Industry; 9.3.7. Market size and forecast, by country; 9.3.7.1. Germany; 9.3.7.1.1. Market size and forecast, by Service Type; 9.3.7.1.2. Market size and forecast, by Service Provider; 9.3.7.1.3. Market size and forecast, by Fuel Type; 9.3.7.1.4. Market size and forecast, by Capacity; 9.3.7.1.5. Market size and forecast, by End-Use Industry; 9.3.7.2. France; 9.3.7.2.1. Market size and forecast, by Service Type; 9.3.7.2.2. Market size and forecast, by Service Provider; 9.3.7.2.3. Market size and forecast, by Fuel Type; 9.3.7.2.4. Market size and forecast, by Capacity; 9.3.7.2.5. Market size and forecast, by End-Use Industry; 9.3.7.3. UK; 9.3.7.3.1. Market size and forecast, by Service Type; 9.3.7.3.2. Market size and forecast, by Service Provider; 9.3.7.3.3. Market size and forecast, by Fuel Type; 9.3.7.3.4. Market size and forecast, by Capacity; 9.3.7.3.5. Market size and forecast, by End-Use Industry; 9.3.7.4. Italy; 9.3.7.4.1. Market size and forecast, by Service Type; 9.3.7.4.2. Market size and forecast, by Service Provider; 9.3.7.4.3. Market size and forecast, by Fuel Type; 9.3.7.4.4. Market size and forecast, by Capacity; 9.3.7.4.5. Market size and forecast, by End-Use Industry; 9.3.7.5. Spain; 9.3.7.5.1. Market size and forecast, by Service Type; 9.3.7.5.2. Market size and forecast, by Service Provider; 9.3.7.5.3. Market size and forecast, by Fuel Type; 9.3.7.5.4. Market size and forecast, by Capacity; 9.3.7.5.5. Market size and forecast, by End-Use Industry; 9.3.7.6. Rest of Europe; 9.3.7.6.1. Market size and forecast, by Service Type; 9.3.7.6.2. Market size and forecast, by Service Provider; 9.3.7.6.3. Market size and forecast, by Fuel Type; 9.3.7.6.4. Market size and forecast, by Capacity; 9.3.7.6.5. Market size and forecast, by End-Use Industry; 9.4. Asia-Pacific; 9.4.1. Key market trends, growth factors and opportunities; 9.4.2. Market size and forecast, by Service Type; 9.4.3. Market size and forecast, by Service Provider; 9.4.4. Market size and forecast, by Fuel Type; 9.4.5. Market size and forecast, by Capacity; 9.4.6. Market size and forecast, by End-Use Industry; 9.4.7. Market size and forecast, by country; 9.4.7.1. China; 9.4.7.1.1. Market size and forecast, by Service Type; 9.4.7.1.2. Market size and forecast, by Service Provider; 9.4.7.1.3. Market size and forecast, by Fuel Type; 9.4.7.1.4. Market size and forecast, by Capacity; 9.4.7.1.5. Market size and forecast, by End-Use Industry; 9.4.7.2. Japan; 9.4.7.2.1. Market size and forecast, by Service Type; 9.4.7.2.2. Market size and forecast, by Service Provider; 9.4.7.2.3. Market size and forecast, by Fuel Type; 9.4.7.2.4. Market size and forecast, by Capacity; 9.4.7.2.5. Market size and forecast, by End-Use Industry; 9.4.7.3. India; 9.4.7.3.1. Market size and forecast, by Service Type; 9.4.7.3.2. Market size and forecast, by Service Provider; 9.4.7.3.3. Market size and forecast, by Fuel Type; 9.4.7.3.4. Market size and forecast, by Capacity; 9.4.7.3.5. Market size and forecast, by End-Use Industry; 9.4.7.4. South Korea; 9.4.7.4.1. Market size and forecast, by Service Type; 9.4.7.4.2. Market size and forecast, by Service Provider; 9.4.7.4.3. Market size and forecast, by Fuel Type; 9.4.7.4.4. Market size and forecast, by Capacity; 9.4.7.4.5. Market size and forecast, by End-Use Industry; 9.4.7.5. Australia; 9.4.7.5.1. Market size and forecast, by Service Type; 9.4.7.5.2. Market size and forecast, by Service Provider; 9.4.7.5.3. Market size and forecast, by Fuel Type; 9.4.7.5.4. Market size and forecast, by Capacity; 9.4.7.5.5. Market size and forecast, by End-Use Industry; 9.4.7.6. Rest of Asia-Pacific; 9.4.7.6.1. Market size and forecast, by Service Type; 9.4.7.6.2. Market size and forecast, by Service Provider; 9.4.7.6.3. Market size and forecast, by Fuel Type; 9.4.7.6.4. Market size and forecast, by Capacity; 9.4.7.6.5. Market size and forecast, by End-Use Industry; 9.5. LAMEA; 9.5.1. Key market trends, growth factors and opportunities; 9.5.2. Market size and forecast, by Service Type; 9.5.3. Market size and forecast, by Service Provider; 9.5.4. Market size and forecast, by Fuel Type; 9.5.5. Market size and forecast, by Capacity; 9.5.6. Market size and forecast, by End-Use Industry; 9.5.7. Market size and forecast, by country; 9.5.7.1. Brazil; 9.5.7.1.1. Market size and forecast, by Service Type; 9.5.7.1.2. Market size and forecast, by Service Provider; 9.5.7.1.3. Market size and forecast, by Fuel Type; 9.5.7.1.4. Market size and forecast, by Capacity; 9.5.7.1.5. Market size and forecast, by End-Use Industry; 9.5.7.2. Saudi Arabia; 9.5.7.2.1. Market size and forecast, by Service Type; 9.5.7.2.2. Market size and forecast, by Service Provider; 9.5.7.2.3. Market size and forecast, by Fuel Type; 9.5.7.2.4. Market size and forecast, by Capacity; 9.5.7.2.5. Market size and forecast, by End-Use Industry; 9.5.7.3. South Africa; 9.5.7.3.1. Market size and forecast, by Service Type; 9.5.7.3.2. Market size and forecast, by Service Provider; 9.5.7.3.3. Market size and forecast, by Fuel Type; 9.5.7.3.4. Market size and forecast, by Capacity; 9.5.7.3.5. Market size and forecast, by End-Use Industry; 9.5.7.4. Rest of LAMEA; 9.5.7.4.1. Market size and forecast, by Service Type; 9.5.7.4.2. Market size and forecast, by Service Provider; 9.5.7.4.3. Market size and forecast, by Fuel Type; 9.5.7.4.4. Market size and forecast, by Capacity; 9.5.7.4.5. Market size and forecast, by End-Use Industry
CHAPTER 10: COMPETITIVE LANDSCAPE: 10.1. Introduction; 10.2. Top winning strategies; 10.3. Product mapping of top 10 player; 10.4. Competitive dashboard; 10.5. Competitive heatmap; 10.6. Top player positioning, 2023
CHAPTER 11: COMPANY PROFILES: 11.1. HD Hyundai Heavy Industries Co., Ltd.; 11.1.1. Company overview; 11.1.2. Key executives; 11.1.3. Company snapshot; 11.1.4. Operating business segments; 11.1.5. Product portfolio; 11.1.6. Business performance; 11.2. Siemens AG; 11.2.1. Company overview; 11.2.2. Key executives; 11.2.3. Company snapshot; 11.2.4. Operating business segments; 11.2.5. Product portfolio; 11.2.6. Business performance; 11.3. Kessels; 11.3.1. Company overview; 11.3.2. Key executives; 11.3.3. Company snapshot; 11.3.4. Operating business segments; 11.3.5. Product portfolio; 11.4. Shanghai Electric; 11.4.1. Company overview; 11.4.2. Key executives; 11.4.3. Company snapshot; 11.4.4. Operating business segments; 11.4.5. Product portfolio; 11.4.6. Business performance; 11.5. Ansaldo Energia; 11.5.1. Company overview; 11.5.2. Key executives; 11.5.3. Company snapshot; 11.5.4. Operating business segments; 11.5.5. Product portfolio; 11.5.6. Key strategic moves and developments; 11.6. Stork; 11.6.1. Company overview; 11.6.2. Key executives; 11.6.3. Company snapshot; 11.6.4. Operating business segments; 11.6.5. Product portfolio; 11.7. Sulzer Ltd; 11.7.1. Company overview; 11.7.2. Key executives; 11.7.3. Company snapshot; 11.7.4. Operating business segments; 11.7.5. Product portfolio; 11.7.6. Business performance; 11.8. General Electric Company; 11.8.1. Company overview; 11.8.2. Key executives; 11.8.3. Company snapshot; 11.8.4. Operating business segments; 11.8.5. Product portfolio; 11.8.6. Business performance; 11.8.7. Key strategic moves and developments; 11.9. Mitsubishi Power; 11.9.1. Company overview; 11.9.2. Key executives; 11.9.3. Company snapshot; 11.9.4. Operating business segments; 11.9.5. Product portfolio; 11.9.6. Key strategic moves and developments; 11.10. Elliott Group IE; 11.10.1. Company overview; 11.10.2. Key executives; 11.10.3. Company snapshot; 11.10.4. Operating business segments; 11.10.5. Product portfolio

Search Inside Report

Pricing

Currency Rates

Single User Online Download $4,335
Global Site License Online Download $7,261

How Do Licenses Work?

Questions or Comments?

Our team has the ability to search within reports to verify it suits your needs. We can also help maximize your budget by finding sections of reports you can purchase.

Chat Now