Global Thermal Power Steam Turbine Market Growth 2025-2031
Description
The global Thermal Power Steam Turbine market size is predicted to grow from US$ 6855 million in 2025 to US$ 9056 million in 2031; it is expected to grow at a CAGR of 4.8% from 2025 to 2031.
The impact of the latest U.S. tariff measures and the corresponding policy responses from countries worldwide on market competitiveness, regional economic performance, and supply chain configurations will be comprehensively evaluated in this report.
A thermal power steam turbine is a device that converts the energy stored in high-pressure, high-temperature steam into mechanical energy. This mechanical energy is then typically used to drive a generator for electricity production in thermal power plants. The steam is produced by heating water using various fuel sources such as coal, natural gas, nuclear energy, biomass, or geothermal heat.
The thermal power steam turbine market remains a critical component of the global energy sector, with opportunities for innovation and growth amidst the challenges of sustainability and competition from renewable sources.
Market Size and Growth Drivers:
Energy Demand: Increasing electricity demand, especially in emerging economies, drives investment in thermal power plants. Fuel Availability: The widespread availability of fuels like coal and natural gas underpins the adoption of thermal power. Technological Advancements: Improved efficiency and sustainability in steam turbine designs bolster market growth.
Key Trends:
Transition to Cleaner Fuels: Many regions are shifting towards natural gas and biomass to reduce emissions from coal. Retrofit and Modernization: Aging turbine fleets in developed economies are being upgraded for higher efficiency. Decentralized Energy: Interest in smaller, decentralized power units with steam turbines is growing.
Challenges:
Competition from Renewables: Solar and wind energy advancements pose challenges to the thermal power market. Environmental Concerns: Carbon emissions from fossil fuels put pressure on coal and gas-fired power plants.
LP Information, Inc. (LPI) ' newest research report, the “Thermal Power Steam Turbine Industry Forecast” looks at past sales and reviews total world Thermal Power Steam Turbine sales in 2024, providing a comprehensive analysis by region and market sector of projected Thermal Power Steam Turbine sales for 2025 through 2031. With Thermal Power Steam Turbine sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Thermal Power Steam Turbine industry.
This Insight Report provides a comprehensive analysis of the global Thermal Power Steam Turbine landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Thermal Power Steam Turbine portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Thermal Power Steam Turbine market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Thermal Power Steam Turbine and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Thermal Power Steam Turbine.
This report presents a comprehensive overview, market shares, and growth opportunities of Thermal Power Steam Turbine market by product type, application, key manufacturers and key regions and countries.
Segmentation by Type:
Non-Condensing Steam Turbine
Condensing Steam Turbine
Segmentation by Application:
Closed Thermal Power Plant
Open-air Thermal Power Plant
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
General Electric
Siemens
Dongfang Turbine
Shanghai Electric
Hangzhou Steam Turbine(HTC)
Harbin Electric Corporation
Mitsubishi Power
MAN Energy Solutions
Fuji Electric
Ebara Elliott
Doosan
Ansaldo
Kawasaki Heavy Industries
Power Machines
Key Questions Addressed in this Report
What is the 10-year outlook for the global Thermal Power Steam Turbine market?
What factors are driving Thermal Power Steam Turbine market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Thermal Power Steam Turbine market opportunities vary by end market size?
How does Thermal Power Steam Turbine break out by Type, by Application?
Please note: The report will take approximately 2 business days to prepare and deliver.
The impact of the latest U.S. tariff measures and the corresponding policy responses from countries worldwide on market competitiveness, regional economic performance, and supply chain configurations will be comprehensively evaluated in this report.
A thermal power steam turbine is a device that converts the energy stored in high-pressure, high-temperature steam into mechanical energy. This mechanical energy is then typically used to drive a generator for electricity production in thermal power plants. The steam is produced by heating water using various fuel sources such as coal, natural gas, nuclear energy, biomass, or geothermal heat.
The thermal power steam turbine market remains a critical component of the global energy sector, with opportunities for innovation and growth amidst the challenges of sustainability and competition from renewable sources.
Market Size and Growth Drivers:
Energy Demand: Increasing electricity demand, especially in emerging economies, drives investment in thermal power plants. Fuel Availability: The widespread availability of fuels like coal and natural gas underpins the adoption of thermal power. Technological Advancements: Improved efficiency and sustainability in steam turbine designs bolster market growth.
Key Trends:
Transition to Cleaner Fuels: Many regions are shifting towards natural gas and biomass to reduce emissions from coal. Retrofit and Modernization: Aging turbine fleets in developed economies are being upgraded for higher efficiency. Decentralized Energy: Interest in smaller, decentralized power units with steam turbines is growing.
Challenges:
Competition from Renewables: Solar and wind energy advancements pose challenges to the thermal power market. Environmental Concerns: Carbon emissions from fossil fuels put pressure on coal and gas-fired power plants.
LP Information, Inc. (LPI) ' newest research report, the “Thermal Power Steam Turbine Industry Forecast” looks at past sales and reviews total world Thermal Power Steam Turbine sales in 2024, providing a comprehensive analysis by region and market sector of projected Thermal Power Steam Turbine sales for 2025 through 2031. With Thermal Power Steam Turbine sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Thermal Power Steam Turbine industry.
This Insight Report provides a comprehensive analysis of the global Thermal Power Steam Turbine landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Thermal Power Steam Turbine portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Thermal Power Steam Turbine market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Thermal Power Steam Turbine and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Thermal Power Steam Turbine.
This report presents a comprehensive overview, market shares, and growth opportunities of Thermal Power Steam Turbine market by product type, application, key manufacturers and key regions and countries.
Segmentation by Type:
Non-Condensing Steam Turbine
Condensing Steam Turbine
Segmentation by Application:
Closed Thermal Power Plant
Open-air Thermal Power Plant
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
General Electric
Siemens
Dongfang Turbine
Shanghai Electric
Hangzhou Steam Turbine(HTC)
Harbin Electric Corporation
Mitsubishi Power
MAN Energy Solutions
Fuji Electric
Ebara Elliott
Doosan
Ansaldo
Kawasaki Heavy Industries
Power Machines
Key Questions Addressed in this Report
What is the 10-year outlook for the global Thermal Power Steam Turbine market?
What factors are driving Thermal Power Steam Turbine market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Thermal Power Steam Turbine market opportunities vary by end market size?
How does Thermal Power Steam Turbine break out by Type, by Application?
Please note: The report will take approximately 2 business days to prepare and deliver.
Table of Contents
118 Pages
- *This is a tentative TOC and the final deliverable is subject to change.*
- 1 Scope of the Report
- 2 Executive Summary
- 3 Global by Company
- 4 World Historic Review for Thermal Power Steam Turbine by Geographic Region
- 5 Americas
- 6 APAC
- 7 Europe
- 8 Middle East & Africa
- 9 Market Drivers, Challenges and Trends
- 10 Manufacturing Cost Structure Analysis
- 11 Marketing, Distributors and Customer
- 12 World Forecast Review for Thermal Power Steam Turbine by Geographic Region
- 13 Key Players Analysis
- 14 Research Findings and Conclusion
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