Steam turbines extract thermal energy from steam on high pressure and use it to perform mechanical work on a rotating output shaft.  This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.Based on the capacity type, the market is segmented as < 50 KW, 50 kW to 500 KW, 500 KW to 1 MW, 1 MW to 30 MW, 30 MW to 70 MW, > 70 MW. The >70 MW segment dominated the market in 2019, and is expected to maintain its position during the forecast period. Growing demand for energy from wide array of sectors is likely to drive the growth of the market.

Based on the design type, the market is segmented into reaction and impulse. The major factors that drive the market share for impulse design steam turbines are low maintenance and operation costs and their compact size. Similarly, the key reason due to which the reaction design steam turbines are used is their high efficiency.

Based on the fuel type, the market is segmented into fossil fuel, biomass, and geothermal. The major factors that drive the usage of biomass are the various measures taken by industries to reduce the carbon footprint in the atmosphere along with the stringent government regulations to check the industrial emissions. Therefore, the biomass market segment is expected to grow at a good pace over the forecast period.

Based on the technology type, the market is segmented into steam cycle, combined cycle, and cogeneration, among which, the steam cycle technology is expected to generate the largest demand over the forecast period. It is estimated that the increasing installation of coal-fired plants in the South East Asian countries in the recent years, will escalate the demand for steam turbines with steam cycle technology, during the forecast period.

Based on region, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the world. Among these regions, Asia-Pacific is expected to be  dominant throughout the forecast period. The market growth in this region is majorly attributed to the growing demand for steam turbines in countries such as Thailand, Japan, South Korea, and Indonesia, among others, due to the development of a number of coal-fired plants in these countries. North America and Europe are also expected to offer promising growth opportunities during the forecast period.

Key Players:               

• Ansaldo Energia

• Elliott Group

• DONGFANG TURBINE CO., LTD.

• Fuji Electric Co., Ltd.

• General Electric

• Kawasaki Heavy Industries, Ltd.

• Mitsubishi Power, Ltd.

• Mitsui E&S Holdings Co., Ltd.

• Siemens Energy

• Toshiba America Energy Systems Corp.