The global steam turbine market for power generation is expected to reach $15.7 billion by 2023


   September 19 2018
According to a new market report published by Lucintel, the future of the global steam turbine market looks good with opportunities in coal-fired, gas-fired, and nuclear energy based power generation. The global steam turbine market for power generation is expected to reach an estimated $15.7 billion and it is forecast to grow at a CAGR of 2.1% from 2018 to 2023. The major drivers for growth of this market are growing global electricity demand and relatively lower cost of electricity generation by steam turbine.

Browse 76 market data tables and 126 figures spread through 162 pages and in-depth TOC on “Global Steam Turbine Market For Power Generation"

Free customization on reports https://www.lucintel.com/steam-turbine-market-for-power-generation.aspx

In this market, steam turbines are used in coal, gas, and nuclear energy based power generation. On the basis of comprehensive research, Lucintel forecasts that steam turbine used in coal based power generation is expected to remain the largest segment. Abundance in the availability of coal and lower cost of generating electricity through coal-fired power plants is likely to drive this segment over the forecast period. Steam turbines used in nuclear energy based electricity generation is expected to witness highest growth during the forecast period.

By turbine size, the ‘600 MW and above’ turbine is expected to remain the largest segment and is also expected to witness highest growth during the forecast period. High efficiency as compared to smaller turbines is driving growth of this segment over the forecast period.

Steam turbines are used in steam cycle, combine cycle, and co-generation power plants. Steam turbine used in the steam cycle power generation will remain the largest segment by both value and volume.

Download Free PDF Brochure @ https://www.lucintel.com/steam-turbine-market-for-power-generation.aspx#/

Asia Pacific is expected to remain the largest market and is likely to witness the highest growth over the forecast period due to growing energy requirement at domestic and industrial level and increasing installation of coal, nuclear and combine cycle power generation facilities.

Emerging trend, which has a direct impact on the dynamics of the industry, include development of more efficient turbines. Shanghai Electric Group, Dongfang Turbine Co Ltd., Harbin Turbine Co. Ltd., Siemens, BHEL, General Electric, and Toshiba are among the major suppliers of steam turbines.

Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global steam turbine market for power generation by  plant fuel, turbine size, thermal power plant type, and region and has come up with a comprehensive research report, “Growth Opportunities in the Global Steam Turbine Market for Power Generation 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 for growth opportunities in the global steam turbine market for power generation by plant fuel, turbine size, by thermal power plant type, and region as follows:

By plant fuel [Volume (GW) and Value ($ billion) from 2012 to 2023]:



  • Coal


  • Gas


  • Nuclear


By turbine size [Volume (GW) and Value ($ billion) from 2012 to 2023]:



  • Less than 300 MW


  • 300 MW to 599 MW


  • 600 MW and above


By thermal power plant type [Volume (GW) and Value ($ billion) from 2012 to 2023]:



  • Steam Cycle


  • Combined Cycle


  • Cogeneration


By region [Volume (GW) and Value ($ billion) from 2012 to 2023]:



  • North America


  • Europe


  • Asia Pacific


  • Rest of the World


Download Free Sample Page @ https://www.lucintel.com/steam-turbine-market-for-power-generation.aspx#/

 This 162-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-market-for-power-generation.aspx#/ or helpdesk@lucintel.com

About Lucintel

 Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com

Lucintel Corporate Customers

Market Entry, M & A, Opportunity Screening,...

Private Equity Customers

Buy Side Services (target screening, due diligence, ..)

Market Research Reports

Aerospace & Defense [52]
Chemical [146]
Composites & Advanced Materials [123]
Construction & Industrial [59]
Consumer and Retail [91]
Economic Analysis [86]
Energy & Utility [72]
Finance & Services [10]
Healthcare [31]
Media & Entertainment [16]
Metals & Mining [17]
Technology & Telecommunication [64]
Transportation [93]

Customer Quotes

"With more than 20 years experience in the industry, this is the first time we have come across such an extensive market analysis for our industry." Ven Cote, CEO, ZCL

"The insights we gained from Lucintel work helped with our business plan…a wonderful professional job…" Mike Jackson, Stahlin

"The report from Lucintel is useful not only for business planners, but also for the technology officers wanting to create a roadmap …" Dr. Giulio Ranzo, Booz Allen

"The information is so comprehensive, it has allowed us to identify & focus our business development efforts. It saved months of leg-work." Bill Barz, L&L Products

"We bought Lucintel report because it is the best report about our industry…a complete and appropriate analysis." Cesare Andrenacci, Ferretti

Quick Query

Lucintel Insights in News

Follow us on