Press release
India Steam Turbine Market Rises Amid Industrial Growth - Global Revenues to Reach $23.48B by 2030 - Arizton
Steam Turbine Market Research by Arizton
Looking for More Information? Click: https://www.arizton.com/market-reports/stream-turbine-market
Global Steam Turbine Market Highlights:
Market Size - Revenue (2030): USD 23.48 Billion
CAGR - Revenue (2024-2030): 3.15%
Market Size - Shipments (2030): 589 Units
Market Size - Capacity (2030): 98.36 GWe
Largest Region (2024): APAC
Powering a Greener Future - Steam Turbines Align with Renewable Energy
The steam turbine market is entering a new era of sustainability through seamless integration with renewable energy systems, most notably biomass. Modern turbine technologies now support combined heat and power (CHP) configurations, maximizing energy efficiency by generating both electricity and thermal energy for industrial and urban use. These advancements address strict emissions and water usage regulations, supporting the global shift toward cleaner power generation.
Tailored turbine solutions are increasingly powering district heating systems in cities, bringing renewable heat to homes and businesses. Industry leaders such as Siemens Energy, GE, and Mitsubishi Heavy Industries are at the forefront, engineering turbines that strengthen the role of biomass in the global energy mix and reinforce steam turbines as a vital bridge to a low-carbon future.
APAC Steam Turbine Market
* Industrial & SEZ Expansion: Accelerated development of industrial parks and special economic zones across APAC, particularly in India, is boosting demand for high-capacity, reliable power solutions, with steam turbines playing a vital role in ensuring uninterrupted energy supply for sectors such as metals, chemicals, and refining.
* Renewable Integration in Emerging Markets: In Southeast Asia, steam turbines are being deployed in off-grid or semi-grid renewable projects, including biomass-fired plants and CSP-backed systems, supporting localized energy access and reducing dependency on fossil fuel imports, a trend increasingly relevant for India's rural and industrial energy strategies.
Smart, AI-Enabled Turbines and Scalable Designs Redefine the Steam Turbine Market
The steam turbine market is entering a new era, driven by IoT connectivity, AI-powered analytics, and advanced materials that optimize performance, reduce downtime, and enable predictive maintenance. Growing adoption of modular and standardized designs is streamlining manufacturing, lowering costs, and speeding up delivery timelines. Demand is increasingly shifting toward smart turbines with real-time digital monitoring, offering seamless integration into evolving energy systems.
Moreover, Industry leaders such as Siemens Energy, GE, and Mitsubishi Heavy Industries are spearheading modernization efforts, strengthening supply chain resilience, ensuring regulatory compliance, and mitigating geopolitical risks, while delivering scalable, high-efficiency solutions to meet the world's rising energy demands.
APAC Dominates the Steam Turbine Market, Led by Key Regions Across East, Southeast, and South Asia
The Asia-Pacific (APAC) region continues to dominate the global steam turbine market, fueled by rapid industrialization, urban infrastructure expansion, and rising electricity demand across key economies such as China, India, Indonesia, and Vietnam. Market growth is further propelled by the adoption of advanced technologies, including IoT-enabled monitoring, AI-driven optimization, and digital control systems, which boost turbine efficiency and operational reliability.
The shift towards cleaner power generation is reshaping the market, with combined-cycle gas plants, biomass integration, and hybrid systems gaining traction. Government-led initiatives, such as Japan's stricter pollution regulations and India's increased nuclear investments, are driving demand for low-emission and high-efficiency steam turbines. Regional energy cooperation frameworks, including the ASEAN Plan of Action on Energy Cooperation, further support the clean energy transition.
However, the surge in solar PV capacity in India and China, along with tightening air quality standards, is accelerating coal plant retirements and limiting new fossil-based projects. Despite these shifts, East Asia remains the largest market, led by China's massive coal, nuclear, and hybrid power capacity. Meanwhile, Southeast and South Asia, particularly Vietnam, Indonesia, Bangladesh, and India, are emerging as high-growth markets, driven by rising energy needs and sustained investments in steam turbine-based power generation.
Download the full report for strategic insights, segment forecasts, and growth opportunities: https://www.arizton.com/market-reports/stream-turbine-market
Key Company Profiles
* General Electric (GE)
* Siemens A.G.
* Mitsubishi Heavy Industries (MHI)
* Shanghai Electric
* Doosan Skoda Power
* Toshiba America Energy Systems Corporation (TAES)
* HYUNDAI HEAVY INDUSTRIES TURBOMACHINERY CO.,LTD.
* Bharat Heavy Electricals Limited
* MAN Energy Solutions USA
* Ansaldo Energia
Other Prominent Company Profiles
* Dongfang Electric Corporation (DEC)
* JSC Atomenergomash (AEM)
* Kawasaki Heavy Industries, Ltd.
* WEG
* Triveni Turbine Ltd.
* Nanjing Steam Turbine Motor (Group) Co., Ltd.
* Hangzhou Turbine Power Group Co., Ltd.
* Fuji Electric Co., Ltd.
* Power Machines
* MAPNA Group
* Shandong Qingneng Steam Turbine Co.,Ltd.
* Ural Turbine Works
* Turbimaq
* China Chang Jiang Energy Corporation
* Baker Hughes Company
* Ebara Elliott Energy
* Kanadevia Corporation
* Turboatom
* Chola Turbo Machinery International
* M+M Turbinen-Technik
* Andritz
* Kessels
* Arani Power Systems Ltd
* Turtle Turbines
* TurboTech Precision Engineering
* Kirloskar Ebara Pumps Limited
* Shin Nippon Machinery Co., Ltd.
* Industrial Boilers America
* NG Metalurgica S.A.
* Fincantieri
* Harbin Turbine Company Limited
* NCON Turbo Tech Pvt. Ltd
* Trillium Flow Technologies
* Chart Industries
* De Pretto Industrie S.r.l.
Market Segmentation & Forecast
Unit-Size
* Large Steam Turbine
* Medium Steam Turbine
* Small Steam Turbine
Design
* Impulse Turbine
* Reaction Turbine
* Others
Technology
* Steam Cycle
* Combined Cycle
* Cogeneration (CHP)
* Others
Fuel Type
* Coal
* Gas
* Nuclear
* Others
Turbine Pressure
* High Pressure
* Medium Pressure
* Low Pressure
* Ultra High-Pressure
End-Use Industry
* Power Generation
* Oil & Gas
* Industrial Manufacturing
* District Heating & Cooling
* Mining & Metal Processing
* Marine
* Others
Geography
APAC
* China
* India
* Japan
* South Korea
* Australia
* Indonesia
* Taiwan
North America
* The U.S.
* Canada
Europe
* Germany
* Russia
* UK
* France
* Italy
* Spain
* Poland
* Netherlands
Middle East & Africa
* Saudi Arabia
* UAE
* Egypt
* South Africa
Latin America
* Brazil
* Mexico
* Argentina
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Pump Market - Global Outlook & Forecast 2024-2029
https://www.arizton.com/market-reports/pump-market-size-analysis
What Key Findings Will Our Research Analysis Reveal?
* How big is the global steam turbine market?
* What is the growth rate of the global steam turbine market?
* Who are the key players in the global steam turbine market?
* What are the significant trends in the steam turbine market?
* Which region dominates the global steam turbine market share?
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About Us:
Arizton Advisory and Intelligence is an innovative and quality-driven firm that offers cutting-edge research solutions to clients worldwide. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
We offer comprehensive market research reports on consumer goods & retail technology, automotive and mobility, smart tech, healthcare, life sciences, industrial machinery, chemicals, materials, I.T. and media, logistics, and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
Arizton comprises a team of exuberant and well-experienced analysts who have mastered generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.
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