The global steam turbine MRO (maintenance, repair, and overhaul) market is expected to reach $31.7 billion by 2023


   October 24 2018
According to a new market report published by Lucintel, the future of the steam turbine MRO market looks promising with opportunities in the coal, gas fired, and nuclear energy based power generation market. The global steam turbine MRO market is expected to reach an estimated $31.7 billion by 2023 with a CAGR of 5.6% from 2018 to 2023. The major growth drivers for this market are increasing thermal power generation capacity in developing countries and aging fleet of steam turbines.

In this market, maintenance, repair, and overhaul services are offered by OEMs, Independent Service Providers (ISPs) as well as done by in-house maintenance department. MRO services provided by OEMs are expected to remain the largest segment and witness the highest growth during the forecast period due to long-term service agreements between OEMs and power producers.

Browse 63 market data tables and 85 figures spread through 144 pages and in-depth TOC on “Global Steam Turbine MRO Market

Within the steam turbine MRO market, coal fired power plant is expected to remain the largest segment. Lucintel predicts that MRO services for nuclear energy based power plant is expected to witness the highest growth over the forecast period supported by its growing installation base.

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Asia Pacific is expected to remain the largest region and witness the highest growth over the forecast period due to increasing fleet of aging turbines and growth in the commissioning of thermal power plants in the region.

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In this market some of the OEMs such as GE, Siemens, Shanghai Electric, MHI, Harbin Electric, Dongfang Electric, and some of the ISPs such as Sulzer, Stork Turbo Services and Wood Group are provider of MRO services.

Lucintel, a leading global strategic consulting and market research firm, has analyzed the global steam turbine MRO market by type of service, type of service provider, plant fuel, turbine capacity, and region, and has compiled a comprehensive research report entitled Growth Opportunities in the Global Steam Turbine MRO Market 2018-2023: Trends, Forecast and Opportunity Analysis.” The Lucintel report serves as a spring board for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast of the global steam turbine MRO market by type of service, service provider, plant fuel, turbine capacity, and region as follows:

By Type of Service [Value ($ Billion) from 2012 to 2023]:



  • Maintenance


  • Repair


  • Overhaul


By Type of Service Provider [Value ($ Billion) from 2012 to 2023]:



  • Original Equipment Manufacturers


  • Independent Service Providers


  • In-House


By Plant Fuel [Value ($ Billion) from 2012 to 2023]:



  • Coal


  • Natural Gas


  • Nuclear


By Capacity [Value ($ Billion) from 2012 to 2023]:



  • Less than 300 MW


  • 300 MW to 599 MW


  • 600 MW and Above


By Region [Value ($ Billion) from 2012 to 2023]:



  • North America


  • Europe


  • Asia Pacific


  • The Rest of the World


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This 144-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/steam-turbine-mro-market.aspx   helpdesk@lucintel.com.

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