The future of the global steam turbine market looks good with opportunities in coal-fired, gas-fired, and nuclear energy based power generation. The global steam turbine market for power generation is expected to reach an estimated $15.7 billion and it is forecast to grow at a CAGR of 2.1% from 2018 to 2023. The major drivers for growth of this market are growing global electricity demand and relatively lower cost of electricity generation by steam turbine.

Emerging trend, which has a direct impact on the dynamics of the steam turbine market for power generation industry, include development of more efficient turbines.

A total of 126 figures / charts and 76 tables are provided in this 162 -page report to help in your business decisions. Sample figures with some insights are shown below. To learn the scope of, benefits, companies researched and other details of this steam turbine market for power generation report,.

The study includes the steam turbine market for power generation market size and forecast for growth opportunities in the global steam turbine market for power generation through 2023, segmented by plant fuel, turbine size, by thermal power plant type, and region as follows:

  • Steam Turbine Market for Power Generation by plant fuel [Volume (GW) and Value ($ billion) from 2012 to 2023]:
  • Coal Gas Nuclear
  • Steam Turbine Market for Power Generation by turbine size [Volume (GW) and Value ($ billion) from 2012 to 2023]:
  • Less than 300 MW 300 MW to 599 MW 600 MW and above
  • Steam Turbine Market for Power Generation by thermal power plant type [Volume (GW) and Value ($ billion) from 2012 to 2023]:
  • Steam Cycle Combined Cycle Cogeneration
  • Steam Turbine Market for Power Generation by region [Volume (GW) and Value ($ billion) from 2012 to 2023]:
  • North America Europe Asia Pacific Rest of the World
  • Some of the steam turbine market for power generation companies profiled in this report include Shanghai Electric Group, Dongfang Turbine Co Ltd., Harbin Turbine Co. Ltd., Siemens, BHEL, General Electric, and Toshiba and others.


On the basis of comprehensive research, Lucintel forecasts that steam turbine used in coal based power generation is expected to remain the largest segment. Abundance in the availability of coal and lower cost of generating electricity through coal-fired power plants is likely to drive this segment over the forecast period. Steam turbines used in nuclear energy based electricity generation is expected to witness highest growth during the forecast period.

By turbine size, the ’600 MW and above’ turbine is expected to remain the largest segment and is also expected to witness highest growth during the forecast period. High efficiency as compared to smaller turbines is driving growth of this segment over the forecast period.

Asia Pacific is expected to remain the largest market and is likely to witness the highest growth over the forecast period due to growing energy requirement at domestic and industrial level and increasing installation of coal, nuclear and combine cycle power generation facilities.

Some of the features of “Global Steam Turbine Market for Power Generation Report: Trends, Forecast and Competitive Analysis” Include:
Market size estimates: Global steam turbine for power generation market size estimation in terms of value ($B) and volume (GW) shipment.Trend and forecast analysis: Market trend (2012-2017) and forecast (2018-2023) by application, and end use industry.Segmentation analysis: Global steam turbine for power generation market size by various applications such as plant fuel, turbine size, and thermal power plant segment in terms of value and volume shipment.Regional analysis: Global steam turbine for power generation market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.Growth opportunities: Analysis on growth opportunities in different applications and regions for power generation in the global steam turbine market.Strategic analysis: This includes M&A, new product development, and competitive landscape for power generation in the global steam turbine market. Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

This report answers following 11 key questions:

  • Q.1.What are some of the most promising, high-growth opportunities for steam turbine market by plant fuel (coal, gas, and nuclear), turbine size (less than 300 MW, 300 MW to 599 MW, and 600 MW and above), by thermal power plant type (steam cycle, combined cycle, cogeneration) and region (North America, Europe, Asia Pacific, and the Rest of the World)?
  • Q.2.Which segment will grow at a faster pace and why?
  • Q.3.Which region will grow at a faster pace and why?
  • Q.4.What are the key factors affecting market dynamics? What are the drivers and challenges, and business risks in this steam turbine for power generation market?
  • Q.5.What are the business risks and competitive threats in this steam turbine for power generation market?
  • Q.6.What are emerging trends in this steam turbine for power generation market and reasons behind them?
  • Q.7.What are some of the changing demands of customers in the steam turbine for power generation market?
  • Q.8.What are the new developments in the steam turbine for power generation market and which companies are leading these developments?
  • Q.9.Who are the major players in this market? What strategic initiatives are being taken by key players for business growth?
  • Q.10. What are some of the competing products in this steam turbine for power generation market and how big of a threat do they pose for loss of market share by product substitution?
  • Q.11. What M & A activity has occurred in the last 5 years and what has its impact been on the steam turbine for power generation industry?