Press release
India Steam Turbines Market Projected to Reach USD 1,403.91 Million by 2033
Base Year: 2024
Forecast Years: 2025-2033
Historical Years: 2019-2024
Market Size in 2024: USD 934.50 Million
Market Forecast in 2033: USD 1,403.91 Million
Market Growth Rate 2025-2033: 4.28%
India Steam Turbines Market Overview
India's steam turbines showcase is encountering relentless development, driven by rising industrialization, development of the control segment, and expanding appropriation of renewable vitality and squander warm recuperation frameworks. Warm control remains a noteworthy vitality source, contributing 61% of the whole introduced capacity and 77% of control era in 2023. The country's dependence on coal-based plants proceeds to drive request for steam turbines.
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India Steam Turbines Market Trends and Market Drivers
Expanding Industrial and Power Generation Sectors:
India's developing power request, fueled by industrialization and urbanization, is fortifying the steam turbine showcase. Businesses such as steel, cement, and petrochemicals are receiving cogeneration frameworks, whereas fabricating units contribute in captive control plants to progress vitality effectiveness and decrease lattice reliance. Government activities supporting control division speculations encourage boost the showcase.
Rising Adoption of Renewable and Waste Heat Recovery Systems:
The accentuation on vitality productivity and supportability has driven to expanded selection of renewable vitality and squander warm recuperation frameworks coordinates with steam turbines. Businesses are progressively executing control era frameworks based on biomass, metropolitan strong squander, and squander warm recuperation, utilizing steam turbines to deliver power from warm vitality.
India Steam Turbines Market Segmentation
1. By Type
• Condensing Steam Turbines
• Non-Condensing Steam Turbines
2. By Rated Capacity
• Up to 150 MW
• Above 150 MW
3. By Exhaust Type
• Single Extraction
• Double Extraction
• Multi Extraction
4. By Fuel Type
• Coal
• Gas
• Nuclear
• Biomass
• Others
5. By Region
• North India
• West and Central India
• South India
• East India
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India Steam Turbines Market News
2024: The Indian government announced initiatives to support the development of high-efficiency steam turbines, including funding for research institutions focusing on advanced turbine technologies. These initiatives aim to foster innovation and accelerate the adoption of cutting-edge turbine technologies across various sectors.
Key Highlights of the Report
1. Market Performance (2019-2024)
2. Market Outlook (2025-2033)
3. COVID-19 Impact on the Market
4. Porter's Five Forces Analysis
5. Strategic Recommendations
6. Historical, Current, and Future Market Trends
7. Market Drivers and Success Factors
8. SWOT Analysis
9. Structure of the Market
10. Value Chain Analysis
11. Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group
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Tel No: (D) +91 120 433 0800
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About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. IMARC's information products include major market, scientific, economic, and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations.
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