Press release
Why Steam Turbine Market Companies Going to Investment in Unites States (2026-2033)
Steam Turbine Market Size 2026-2033
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United States: Recent Industry Developments (May 2026 to Jan 2026)
✅ May 2026: Doosan Enerbility secured a contract to supply four 370 MW steam turbines and generators for a combined-cycle power project in Texas, strengthening its presence in the U.S. power generation market.
✅ March 2026: Doosan Enerbility won its first North American steam turbine order, supplying 370 MW-class steam turbines and generators for a U.S. combined-cycle power plant supporting hyperscale energy demand.
✅ March 2026: Babcock & Wilcox advanced its $2.4 billion project to deliver natural gas-fired boiler and steam turbine systems for AI-focused data center power generation in the United States.
✅ February 2026: Siemens Energy announced a US$1 billion investment to expand U.S. manufacturing capacity for power generation equipment, including turbine-related production, to meet rising electricity demand.
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Key Players:
Power Machines, Elliott Group, Mitsubishi Heavy Industries, Ltd, MAN Energy Solutions, General Electric, DongFang Electric Corporation, Spilling Technologies, G-Team Inc, M+M Turbine-Technik GMBH, Siemens, Ansaldo Energia.
Key Development:
In June 2026, Siemens Energy secured a contract to supply two steam turbines, three gas turbines, five generators, and associated systems for the 2.6 GW Taweelah C Independent Power Project (IPP) in Abu Dhabi, strengthening grid reliability and renewable energy integration.
In June 2026, Hallador Energy Company announced the acquisition of 460 MW of Siemens turbine assets, including a steam turbine, generators, and auxiliary equipment, to accelerate the Merom natural gas generation project in the United States.
In June 2026, Siemens Energy and Oklo advanced manufacturing of the SST-600 steam turbine and generator package for Oklo's first Aurora advanced nuclear power plant at Idaho National Laboratory, marking a key milestone for next-generation nuclear power deployment.
In January 2026, JSW Energy Ltd. awarded Toshiba JSW Power Systems Pvt. Ltd. a contract to supply two 800 MW steam turbine generators for its 1,600 MW Salboni Thermal Power Project in West Bengal, supporting the company's thermal generation capacity expansion.
Growth Forecast Projected:
The Global Steam Turbine Market is anticipated to rise at a considerable rate during the forecast period, between 2026 and 2032. In 2025, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.
Research Process:
Both primary and secondary data sources have been used in the global Steam Turbine Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.
Latest M & A 2026:
• May 2026: Hallador Energy agreed to acquire Siemens gas and steam turbine assets from Energy World Corporation for US$350 million to expand its power generation portfolio.
• January 2026: JLL Partners acquired PowerParts Group, a supplier of aftermarket components and services for gas and steam turbines, strengthening its industrial power equipment portfolio.
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Japan: Recent Industry Developments
✅ May 2026: Toshiba Energy Systems & Solutions continued expanding steam turbine deployments for thermal and geothermal power projects while advancing AI-enabled turbine monitoring technologies.
✅ March 2026: Mitsubishi Heavy Industries accelerated production capacity for power generation equipment, including steam turbine systems, to address rising demand from energy infrastructure projects.
✅ January 2026: Toshiba JSW Power Systems received an order to supply two 800 MW steam turbine generators for the Salboni thermal power project, reinforcing its leadership in high-capacity steam turbine manufacturing.
✅ January 2026: Mitsubishi Heavy Industries continued strengthening its thermal and nuclear power turbine business through expanded engineering and manufacturing capabilities for domestic and export markets.
Key Segments:
By Capacity: Up to 5 MW, 5 MW to 150 MW, and More than 150 MW
By Plant Type: Steam Cycle, Combined cycle, Cogeneration
By End-user: Power and Utility, Industrial, Others (Residential, Commercial and institutional)
Regional Analysis for Market:
⇥ North America (U.S., Canada, Mexico)
⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)
⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)
⇥ South America (Colombia, Brazil, Argentina, Rest of South America)
⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
Benefits of the Report:
Chapter 1: Lays the foundation by defining the scope of the report, highlighting core market segments across regions, product types, and applications. It delivers a clear snapshot of current market size, growth potential, and how the industry is expected to evolve in both the near and long term.
Chapter 2: Spotlights the most impactful market insights, unveiling the transformative trends and forces shaping the future of the industry.
Chapter 3: Provides a deep dive into the competitive landscape of , covering revenue shares, strategic initiatives, and notable mergers & acquisitions that are reshaping the market.
Chapter 4: Presents detailed company profiles of leading players featuring financial performance, product portfolios, profit margins, and key milestones that set them apart in the industry.
Chapters 5 & 6: Break down revenue analysis at both regional and country levels, offering precise data on market size, growth drivers, and expansion opportunities across global markets.
Chapter 7: Analyzes the market by product type, spotlighting segment-specific opportunities and helping stakeholders identify untapped, high-growth areas.
Chapter 8 :Explores the market through application-based segmentation, assessing demand across industries and pinpointing downstream sectors with the strongest potential for growth.
Chapter 9: Maps the industry's supply chain in detail, tracing upstream and downstream activities to provide clarity on value creation across the ecosystem.
Chapter 10: Wraps up with a concise summary of the report's key insights distilling the most critical findings and strategic takeaways for decision-makers and stakeholders.
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FAQ
Q: How rapidly will the Market expand?
A: The Steam Turbine market is projected to grow at a CAGR of 5.0% between 2025 and 2031.
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