Press release
Global Steam Turbine Market is expected to reach approximately USD 19.21 million by 2023
Market HighlightsSteam Turbines use thermal energy, which is the most commonly used source of energy for electricity generation, globally, and has a greater installed capacity than any other source of energy. Industrial uses such as Generators at power plants and large ships run on steam turbines, while smaller steam turbines are used to drive pumps and fans at petrochemical plants. Thermal energy plays a vital role in generating electricity from sources such as coal, nuclear, and biomass. Increasing demand for electricity, rapid industrialization, and development of more efficient turbines & technology, help Steam turbines secure a larger footprint in large and high growth in market. They require less space, have a large capacity, and are designed for a greater range of speed, which act as major drivers for the growth of the market.
The Global Steam Turbine Market is expected to reach approximately USD 19.21 million by the end of 2023, growing at a CAGR more than 4.2% between 2017 and 2023.
Rapid industrialization in emerging economies and rising global population, which are consistently propelling the demand for energy, are the primary factors augmenting the demand for steam turbine. Increasing demand for electricity, rapid industrialization, and development of more efficient turbines & technology, help Steam turbines secure a larger footprint in large and high growth in market. They require less space, have a large capacity, and are designed for a greater range of speed, which act as major drivers for the growth of the market.
Key Players
The major players operating in the market of global steam turbine are
• Alstom SA (France),
• Siemens AG (Germany),
• General Electric (U.S.),
• Mitsubishi Hitachi Power Systems (Japan),
• Toshiba Corporation (Japan),
• ABB (Switzerland),
• Elliott Group (U.S.)
• Fuji Electric Co., Ltd.,( Japan),
• Man Diesel & Turbo SE (Germany ).
Request a Sample Copy @ https://www.marketresearchfuture.com/sample_request/4618
Market Research Future Analysis:
Market Research Future analysis states that the global market of steam turbine market is estimated to grow at USD 19.21 million by the end of year 2023. Steam turbines are now popularly used for combined heat & power (CHP) systems, which are mainly employed in industrial applications. CHP units offer greater efficiency & flexible output and also operate on cleaner fuels such as natural gas. The performance of the steam turbines greatly influences the overall efficiency, and for the same, market participants focus on improving the turbine efficiency. Companies such as GE have implemented a number of programs focusing on material development. Re-heat technology is another aspect, which GE has revealed as a breakthrough achieved. The company is also working on double re-heat technology, which is expected to significantly boost the system efficiency. Asia-Pacific is expected to remain the largest market and is likely to witness the highest growth over the forecast period. Increasing demand for electricity in the region. Whereas, North American industry is mostly driven by the increased focus on CHP units. Increasing government support towards CHP in Europe is expected to help sustain the local demand.
Steam turbine Market by Plant Fuel
Coal segment is expected to dominate the steam turbine market. Growing environmental concerns are forcing developed countries to move away from coal, which hinders the growth of coal segment. Thermal power is still the dominant source of energy, and with clean coal technology gaining ground, the steam turbine market is set for growth in the future.
The gas turbine is the most versatile item and can be used in several different modes in critical industries such as power generation, oil and gas, process plants, aviation, as well domestic and smaller related industries. The growing availability of natural gas and its use in power production are expected to give a boost to the market. Due to factors such as the trend toward replacing aging coal plants with modern gas-fired power stations and the need for more flexible generating assets, and gas turbines are predicted to gain the edge over steam turbines. Gas turbines will also benefit from increasingly stringent emissions legislation and emissions trading schemes in emerging markets, as they restrain the growth of steam turbines.
Enquire about this Report @ https://www.marketresearchfuture.com/enquiry/4618
Table of Content
1... Executive Summary
2 Research Methodology
2.1 Scope Of The Study
2.1.1 Definition
2.1.2 Research Objective
2.1.3 Assumptions
2.1.4 Limitations
2.2 Research Process
2.2.1 Primary Research
2.2.2 Secondary Research
2.3 Market Size Estimation
2.4 Forecast Model
3... Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
3.3 Supply/Value Chain Analysis
3.4 Porter’s Five Forces Analysis
4... Global Steam Turbine Market, By Plant Fuel
4.1 Introduction
4.2 Coal
4.3 Gas
4.4 Nuclear
4.5 Others
5... Global Steam Turbine Market, By Capacity
Continue……
Access Report Detail @ https://www.marketresearchfuture.com/reports/steam-turbine-market-4618
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Contact:
Akash Anand,
Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune - 411028
Maharashtra, India
+1 646 845 9312
Email: akash.anand@marketresearchfuture.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Global Steam Turbine Market is expected to reach approximately USD 19.21 million by 2023 here
News-ID: 794395 • Views: …
More Releases from Market Research Future

Global Small Boat Industry Sees Growing Demand Amid Rising Recreational Boating …
As per the latest analysis by Market Research Future, the Small Boats Market Size was estimated at 17.12 (USD Billion) in 2024. The Small Boats Market Industry is expected to grow from 17.88 (USD Billion) in 2025 to 26.41 (USD Billion) till 2034, at a CAGR (growth rate) is expected to be around 4.43% during the forecast period (2025 - 2034).
The global small boat industry is witnessing significant growth, driven…

Automotive Trim Market Attaining USD 193.22 Billion till 2034 | Innovations Rede …
As per the latest analysis by Market Research Future, the Automotive Trim Market Size was estimated at 140.30 (USD Billion) in 2024. The Automotive Trim Market Industry is expected to grow from 144.87 (USD Billion) in 2025 to 193.22 (USD Billion) till 2034, at a CAGR (growth rate) is expected to be around 3.25% during the forecast period (2025 - 2034).
The automotive industry is witnessing a significant transformation in vehicle…

Leading Automotive Technology Firms Expand Fuel Level Sensor Solutions for Next- …
As per the latest analysis by Market Research Future, Automotive Fuel Level Sensor Market Size was valued at USD 5,788.04 million in 2024. The Automotive Fuel Level Sensor market industry is projected to grow from USD 6,008.32 million in 2025 to USD 9,201.90 million by 2035, exhibiting a compound annual growth rate (CAGR) of 4.35% during the forecast period (2024 - 2035).
With the global automotive industry focused on precision,…

Valet Parking Technology Gains Momentum as Urban Mobility and Smart Infrastructu …
As per the latest analysis by Market Research Future, the Valet Parking Technology Market Size was estimated at 1.41 (USD Billion) in 2024. The Valet Parking Technology Market Industry is expected to grow from 1.63 (USD Billion) in 2025 to 6.01 (USD Billion) till 2034, at a CAGR (growth rate) is expected to be around 15.62% during the forecast period (2025 - 2034).
Valet parking technology is emerging as a transformative…
More Releases for Steam
Steam Turbine Market: Future of Steam Power in Energy Transition
According to a new report published by Allied Market Research, the steam turbine market size was valued at $17.5 billion in 2022, and is estimated to reach $22.4 billion by 2032, growing at a CAGR of 2.6% from 2023 to 2032.
A steam turbine is a mechanical equipment, which operates by using heat sources such as gas, coal, nuclear, or solar to heat water to extremely high temperatures until it is…
Vertical Clean Steam Generators Market Vertical Designs Revolutionizing Clean St …
Global Vertical Clean Steam Generators Market Overview:
The Vertical Clean Steam Generators market is a broad category that includes a wide range of products and services related to various industries. This market comprises companies that operate in areas such as consumer goods, technology, healthcare, and finance, among others.
In recent years, the Vertical Clean Steam Generators market has experienced significant growth, driven by factors such as increasing consumer demand, technological advancements, and…
Steam-Heated Clean Steam Generator Market: Enhancing Steam Quality and Safety th …
Global Steam-Heated Clean Steam Generator Market Overview:
The Steam-Heated Clean Steam Generator market is a broad category that includes a wide range of products and services related to various industries. This market comprises companies that operate in areas such as consumer goods, technology, healthcare, and finance, among others.
In recent years, the Steam-Heated Clean Steam Generator market has experienced significant growth, driven by factors such as increasing consumer demand, technological advancements, and…
Steam Autoclave Market - Unleashing the Power of Steam, Elevating Sterilization …
Newark, New Castle, USA - new report, titled Steam Autoclave Market The report has been put together using primary and secondary research methodologies, which offer an accurate and precise understanding of the Steam Autoclave market. Analysts have used a top-down and bottom-up approach to evaluate the segments and provide a fair assessment of their impact on the global Steam Autoclave market. The report offers an overview of the market, which…
Here's How To Get Free Steam Wallet Codes 2023 Get 100$ Steam Codes With Steam C …
Steam gamers around the world can now get free Steam wallet codes with the newly launched Steam wallet code generator tool. With Free Steam Wallet Code Generator with no human verification players can generate up to 100$ worth of Steam wallet codes for free.
Visit >>> https://moddetail.com/steamcodes
The Steam wallet code generator is a safe and secure tool that is designed to be easy to use. It offers players an opportunity to…
Demand for Steam Boilers in Pharmaceuticals Industry to Bolster Sales of Steam A …
The Market Research Survey by “Fact.MR, A Market Research and Competitive Intelligence Provider” highlights the key reasons behind increasing demand of Steam Accumulator Module for Steam Boilers.
Steam Accumulator Module for Steam Boilers market study depicts an in-depth analysis on the current status of Steam Accumulator Module for Steam Boilers market that consists of important types, and end uses.
To Get In-depth Information View Full Report - https://www.factmr.com/report/592/steam-accumulator-module-steam-boilers-market
The Market Survey examines…