The global steam turbine market size is estimated at USD 17.45 billion in 2025 and is predicted to reach around USD 21.67 billion by 2034, accelerating at a CAGR of 2.44% from 2025 to 2034. The Asia Pacific steam turbine market size surpassed USD 12.39 billion in 2025 and is expanding at a CAGR of 2.50% during the forecast period. The market sizing and forecasts are revenue-based (USD Million/Billion), with 2024 as the base year.
1.1. Research Objective
1.2. Scope of the Studya
1.3. Definition
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
3.1. Market Snapshot
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
5.1. COVID-19 Landscape: Steam Turbine Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
8.1. Steam Turbine Market, by Design Type
8.1.1. Reaction
8.1.1.1. Market Revenue and Forecast
8.1.2. Impulse
8.1.2.1. Market Revenue and Forecast
9.1. Steam Turbine Market, by Exhaust Type
9.1.1. Condensing
9.1.1.1. Market Revenue and Forecast
9.1.2. Non-condensing
9.1.2.1. Market Revenue and Forecast
10.1. Steam Turbine Market, by Technology Type
10.1.1. Steam Cycle
10.1.1.1. Market Revenue and Forecast
10.1.2. Combined Cycle
10.1.2.1. Market Revenue and Forecast
10.1.3. Cogeneration
10.1.3.1. Market Revenue and Forecast
11.1. Steam Turbine Market, by Fuel Type
11.1.1. Fossil Fuel
11.1.1.1. Market Revenue and Forecast
11.1.2. Biomass
11.1.2.1. Market Revenue and Forecast
11.1.3. Geothermal
11.1.3.1. Market Revenue and Forecast
12.1. Steam Turbine Market, by End Use
12.1.1. Industrial
12.1.1.1. Market Revenue and Forecast
12.1.2. Utility
12.1.2.1. Market Revenue and Forecast
13.1. North America
13.1.1. Market Revenue and Forecast, by Design
13.1.2. Market Revenue and Forecast, by Exhaust
13.1.3. Market Revenue and Forecast, by Technology
13.1.4. Market Revenue and Forecast, by Fuel
13.1.5. Market Revenue and Forecast, by End Use
13.1.6. U.S.
13.1.6.1. Market Revenue and Forecast, by Design
13.1.6.2. Market Revenue and Forecast, by Exhaust
13.1.6.3. Market Revenue and Forecast, by Technology
13.1.6.4. Market Revenue and Forecast, by Fuel
13.1.7. Market Revenue and Forecast, by End Use
13.1.8. Rest of North America
13.1.8.1. Market Revenue and Forecast, by Design
13.1.8.2. Market Revenue and Forecast, by Exhaust
13.1.8.3. Market Revenue and Forecast, by Technology
13.1.8.4. Market Revenue and Forecast, by Fuel
13.1.8.5. Market Revenue and Forecast, by End Use
13.2. Europe
13.2.1. Market Revenue and Forecast, by Design
13.2.2. Market Revenue and Forecast, by Exhaust
13.2.3. Market Revenue and Forecast, by Technology
13.2.4. Market Revenue and Forecast, by Fuel
13.2.5. Market Revenue and Forecast, by End Use
13.2.6. UK
13.2.6.1. Market Revenue and Forecast, by Design
13.2.6.2. Market Revenue and Forecast, by Exhaust
13.2.6.3. Market Revenue and Forecast, by Technology
13.2.7. Market Revenue and Forecast, by Fuel
13.2.8. Market Revenue and Forecast, by End Use
13.2.9. Germany
13.2.9.1. Market Revenue and Forecast, by Design
13.2.9.2. Market Revenue and Forecast, by Exhaust
13.2.9.3. Market Revenue and Forecast, by Technology
13.2.10. Market Revenue and Forecast, by Fuel
13.2.11. Market Revenue and Forecast, by End Use
13.2.12. France
13.2.12.1. Market Revenue and Forecast, by Design
13.2.12.2. Market Revenue and Forecast, by Exhaust
13.2.12.3. Market Revenue and Forecast, by Technology
13.2.12.4. Market Revenue and Forecast, by Fuel
13.2.13. Market Revenue and Forecast, by End Use
13.2.14. Rest of Europe
13.2.14.1. Market Revenue and Forecast, by Design
13.2.14.2. Market Revenue and Forecast, by Exhaust
13.2.14.3. Market Revenue and Forecast, by Technology
13.2.14.4. Market Revenue and Forecast, by Fuel
13.2.15. Market Revenue and Forecast, by End Use
13.3. APAC
13.3.1. Market Revenue and Forecast, by Design
13.3.2. Market Revenue and Forecast, by Exhaust
13.3.3. Market Revenue and Forecast, by Technology
13.3.4. Market Revenue and Forecast, by Fuel
13.3.5. Market Revenue and Forecast, by End Use
13.3.6. India
13.3.6.1. Market Revenue and Forecast, by Design
13.3.6.2. Market Revenue and Forecast, by Exhaust
13.3.6.3. Market Revenue and Forecast, by Technology
13.3.6.4. Market Revenue and Forecast, by Fuel
13.3.7. Market Revenue and Forecast, by End Use
13.3.8. China
13.3.8.1. Market Revenue and Forecast, by Design
13.3.8.2. Market Revenue and Forecast, by Exhaust
13.3.8.3. Market Revenue and Forecast, by Technology
13.3.8.4. Market Revenue and Forecast, by Fuel
13.3.9. Market Revenue and Forecast, by End Use
13.3.10. Japan
13.3.10.1. Market Revenue and Forecast, by Design
13.3.10.2. Market Revenue and Forecast, by Exhaust
13.3.10.3. Market Revenue and Forecast, by Technology
13.3.10.4. Market Revenue and Forecast, by Fuel
13.3.10.5. Market Revenue and Forecast, by End Use
13.3.11. Rest of APAC
13.3.11.1. Market Revenue and Forecast, by Design
13.3.11.2. Market Revenue and Forecast, by Exhaust
13.3.11.3. Market Revenue and Forecast, by Technology
13.3.11.4. Market Revenue and Forecast, by Fuel
13.3.11.5. Market Revenue and Forecast, by End Use
13.4. MEA
13.4.1. Market Revenue and Forecast, by Design
13.4.2. Market Revenue and Forecast, by Exhaust
13.4.3. Market Revenue and Forecast, by Technology
13.4.4. Market Revenue and Forecast, by Fuel
13.4.5. Market Revenue and Forecast, by End Use
13.4.6. GCC
13.4.6.1. Market Revenue and Forecast, by Design
13.4.6.2. Market Revenue and Forecast, by Exhaust
13.4.6.3. Market Revenue and Forecast, by Technology
13.4.6.4. Market Revenue and Forecast, by Fuel
13.4.7. Market Revenue and Forecast, by End Use
13.4.8. North Africa
13.4.8.1. Market Revenue and Forecast, by Design
13.4.8.2. Market Revenue and Forecast, by Exhaust
13.4.8.3. Market Revenue and Forecast, by Technology
13.4.8.4. Market Revenue and Forecast, by Fuel
13.4.9. Market Revenue and Forecast, by End Use
13.4.10. South Africa
13.4.10.1. Market Revenue and Forecast, by Design
13.4.10.2. Market Revenue and Forecast, by Exhaust
13.4.10.3. Market Revenue and Forecast, by Technology
13.4.10.4. Market Revenue and Forecast, by Fuel
13.4.10.5. Market Revenue and Forecast, by End Use
13.4.11. Rest of MEA
13.4.11.1. Market Revenue and Forecast, by Design
13.4.11.2. Market Revenue and Forecast, by Exhaust
13.4.11.3. Market Revenue and Forecast, by Technology
13.4.11.4. Market Revenue and Forecast, by Fuel
13.4.11.5. Market Revenue and Forecast, by End Use
13.5. Latin America
13.5.1. Market Revenue and Forecast, by Design
13.5.2. Market Revenue and Forecast, by Exhaust
13.5.3. Market Revenue and Forecast, by Technology
13.5.4. Market Revenue and Forecast, by Fuel
13.5.5. Market Revenue and Forecast, by End Use
13.5.6. Brazil
13.5.6.1. Market Revenue and Forecast, by Design
13.5.6.2. Market Revenue and Forecast, by Exhaust
13.5.6.3. Market Revenue and Forecast, by Technology
13.5.6.4. Market Revenue and Forecast, by Fuel
13.5.7. Market Revenue and Forecast, by End Use
13.5.8. Rest of LATAM
13.5.8.1. Market Revenue and Forecast, by Design
13.5.8.2. Market Revenue and Forecast, by Exhaust
13.5.8.3. Market Revenue and Forecast, by Technology
13.5.8.4. Market Revenue and Forecast, by Fuel
13.5.8.5. Market Revenue and Forecast, by End Use
14.1. Toshiba Corporation
14.1.1. Company Overview
14.1.2. Product Offerings
14.1.3. Financial Performance
14.1.4. Recent Initiatives
14.2. Fuji Electric Co. Ltd
14.2.1. Company Overview
14.2.2. Product Offerings
14.2.3. Financial Performance
14.2.4. Recent Initiatives
14.3. Istom SA
14.3.1. Company Overview
14.3.2. Product Offerings
14.3.3. Financial Performance
14.3.4. Recent Initiatives
14.4. Mitsubishi Hitachi Power Systems
14.4.1. Company Overview
14.4.2. Product Offerings
14.4.3. Financial Performance
14.4.4. Recent Initiatives
14.5. Siemens AG
14.5.1. Company Overview
14.5.2. Product Offerings
14.5.3. Financial Performance
14.5.4. Recent Initiatives
14.6. Man Diesel & Turbo SE
14.6.1. Company Overview
14.6.2. Product Offerings
14.6.3. Financial Performance
14.6.4. Recent Initiatives
14.7. Bharat Heavy Electricals Ltd.
14.7.1. Company Overview
14.7.2. Product Offerings
14.7.3. Financial Performance
14.7.4. Recent Initiatives
14.8. Doosan Skoda Power
14.8.1. Company Overview
14.8.2. Product Offerings
14.8.3. Financial Performance
14.8.4. Recent Initiatives
14.9. Kawasaki Heavy Industries
14.9.1. Company Overview
14.9.2. Product Offerings
14.9.3. Financial Performance
14.9.4. Recent Initiatives
14.10. Ansaldo Energia
14.10.1. Company Overview
14.10.2. Product Offerings
14.10.3. Financial Performance
14.10.4. Recent Initiatives
15.1. Primary Research
15.2. Secondary Research
15.3. Assumptions
16.1. About Us
16.2. Glossary of Terms
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