Lucintel anticipates that Asia Pacific will be the fastest growing region in the steam turbine MRO market


   September 23, 2019
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 steam turbine MRO market is expected to reach an estimated $33.8 billion by 2024 with a CAGR of 5.7% from 2019 to 2024. The major growth drivers for this market are increasing thermal power generation capacity in developing countries and aging fleet of steam turbines.

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

To download report brochure, please go to https://www.lucintel.com/steam-turbine-mro-market.aspx and click "report brochure" tab

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.

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 are expected to witness the highest growth over the forecast period supported by its growing installation base.

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.

GE, Siemens, Shanghai Electric, MHI, Harbin Electric, Dongfang Electric, and some of the ISPs such as Sulzer, Stork Turbo Services and Wood Group and others are among the major suppliers of steam turbine MRO.

Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the steam turbine MRO market by type of service, service provider, plant fuel, turbine capacity, and region and has come up with a comprehensive research report, “Growth Opportunities in the Steam Turbine MRO Market 2019-2024: 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 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 2013 to 2024]:



  • Maintenance


  • Repair


  • Overhaul


 By Type of Service Provider [Value ($ Billion) from 2013 to 2024]:



  • Original Equipment Manufacturers


  • Independent Service Providers


  • In-House


 By Plant Fuel [Value ($ Billion) from 2013 to 2024]:



  • Coal


  • Natural Gas


  • Nuclear


By Capacity [Value ($ Billion) from 2013 to 2024]:



  • Less than 300 MW


  • 300 MW to 599 MW


  • 600 MW and Above


 By Region [Value ($ Billion) from 2013 to 2024]:



  • North America


  • Europe


  • Asia Pacific


  • Rest of the World


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 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.

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