Fairfield Market Research Steam Turbine MRO Market to Reach US$32 Bn by 2030

Steam Turbine MRO Market

Global Steam Turbine MRO Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2030 - (By Capacity Coverage, By End-use Industry Coverage, By Service Type Coverage, By Service Provider Coverage, By Fuel Type Coverage, By Geographic Coverage and By Company)

Published Date: Nov 2023 | Format: | No. of Pages: 238

Industry: Energy & Natural Resources


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Global Steam Turbine MRO Market Forecast

  • Steam turbine MRO market revenue to jump from US$21.9 Bn attained in 2022, to US$32 Bn by 2030-end
  • Market size all set for a CAGR of 5.6% between 2023 and 2030

 Global Steam Turbine MRO Market Snapshot, 2018 - 2030

Quick Report Digest

  1. The key trend anticipated to fuel the steam turbine MRO market growth is Digital technologies, such as sensors, IoT, and data analytics, which are being adopted, and they are changing steam turbine MRO. By enabling real-time turbine health monitoring, these tools make it possible to perform predictive maintenance in order to avoid unanticipated failures and minimize downtime.
  2. Another major market trend expected to fuel the steam turbine MRO market growth is that steam turbine maintenance is increasingly dependent on condition-based monitoring systems. These systems continuously gather information on temperature, vibration, and other factors to evaluate the condition of the turbine.
  3. In 2022, the 300MW to 599MW category dominated the industry. MRO procedures can help the steam turbine operate at its best, which will increase productivity, cut down on energy use, and produce more power.
  4. In terms of market share for stream turbine MRO globally, the power generation segment is anticipated to dominate. RO activities are crucial for maintaining and raising the efficiency of steam turbines used in the production of electrical energy. To make sure the turbine runs effectively, this involves routine checks, cleaning, and tuning.
  5. In 2022, the maintenance category controlled the market. The operational life of steam turbines can be significantly extended with the right maintenance and servicing, increasing the equipment's return on investment. Steam turbines perform better when they receive routine maintenance, which results in greater energy efficiency, less fuel consumption, and more power being produced.
  6. The independent service provider category is highly prevalent in the market for stream turbine MRO. The ISPs frequently have a focus on steam turbine MRO, demonstrating their extensive expertise in this area. They comprehend the nuances of steam turbine technology, resulting in more effective and efficient services.
  7. The Asia-Pacific region is anticipated to account for the largest share of the global stream turbine MRO market, Particularly in nations like China and India, the APAC region is seeing rapid industrial expansion.
  8. APAC has many power generation facilities with outdated steam turbines that need regular maintenance and overhauls to keep them operating effectively and safely. The market for stream turbine MRO is expanding in North America due to A shift towards cleaner and more sustainable energy sources is taking place in North America. The improvement of current steam turbines to make them more effective and environmentally friendly falls under this.

A Look Back and a Look Forward - Comparative Analysis

The market for stream turbine MRO has grown. The deteriorating state of the world's steam turbine infrastructure is one of the main causes. Numerous industrial facilities and steam turbine power plants that are still in use today need routine maintenance and periodic overhauls to keep them operating for longer.

The market witnessed staggered growth during the historical period 2018 - 2022. This is due to the Power generation needs to be reliable and efficient due to the rising global demand for electricity and industrial processes.

Since steam turbines are used in so many power plants, including those that use fossil fuels, nuclear energy, and renewable energy sources, maintaining them is essential to supplying the world's growing demand for energy. The efficiency of steam turbine systems and their parts can be improved, and energy losses can be decreased through modernisation and upgrades. Operators of power plants use MRO services to put these improvements into practice, which lowers emissions and cuts fuel costs.

The increased need for quick delivery and high consumer expectations have motivated e-retailers to implement operational innovations for speedy order fulfillment and to stay competitive in the market. This offers a significant chance for the stream turbine MRO to experience quick acceptance in the e-commerce sector in the coming years.

Additionally, The demand for MRO for steam turbines is driven by strict environmental regulations. Power plants can minimize their environmental impact, meet emissions standards, and reduce air pollution with upgrades and retrofits.

FGlobal Steam Turbine MRO Market, 2018 - 2030

Key Growth Determinants

  • Increased Resilience and Reliability

Critical infrastructure resilience, like power plants, is a top concern. The risk of power outages and disruptions is decreased by timely MRO, which guarantees that steam turbines remain dependable.

The need for upkeep and upgrades to maximize energy production is driven by the continued reliance on coal-fired power plants and the integration of steam turbines into a variety of energy sources, including biomass and natural gas.

Rapid industrialisation and urbanisation are occurring in emerging markets in Asia, the Middle East, and Africa, which is increasing the demand for power generation. MRO services for steam turbines are crucial for maintaining and developing the energy infrastructure in these areas.

  • Digitalisation and Predictive Maintenance

Predictive maintenance is now possible for steam turbines thanks to the adoption of digitalisation and data analytics tools. This proactive method minimises downtime, lowers repair expenses, and increases overall turbine reliability.

The shift from centralised to decentralised power generation, including industrial co-generation, combined heat and power (CHP) systems, and distributed energy resources, opens up opportunities for Steam Turbine MRO in smaller-scale applications.

As the industrial sectors of emerging nations develop, there is a rising need for steam turbines utilised in a range of settings, including pulp and paper mills, petrochemical plants, and manufacturing facilities. Maintenance and repairs are essential to ensuring the uninterrupted operation of industrial processes.

  • Technological Developments

Upgrades and performance improvements are made possible by ongoing developments in steam turbine technology, materials, and control systems. To put these innovations into practice and increase the dependability and efficiency of turbines, MRO providers offer services.

The demand for steam turbines used in a variety of applications, such as pulp and paper mills, petrochemical plants, and manufacturing facilities, is growing as the industrial sectors of emerging economies expand. To ensure that industrial operations continue unabated, maintenance and repairs are necessary.

Concentrated solar power (CSP) and geothermal power plants use some steam turbines as the world moves toward cleaner energy sources. To efficiently capture renewable energy, these systems need upkeep and optimisation.

Major Growth Barriers

  • High Initial Investments

The inspection, repairs, and equipment upgrades associated with steam turbine MRO frequently entail large upfront costs. This can discourage some industrial facility owners and operators from funding necessary maintenance tasks, especially when funds are limited.

The steam turbine sector depends on a skilled workforce with knowledge of turbine maintenance and operation. There is a dearth of younger talent with the necessary abilities, as many seasoned professionals are getting close to retirement age. This skills gap may hamper effective MRO initiatives

  • Higher Complexity of Repairs is Hindering Market Expansion

The complexity of repairs is high because steam turbines are intricate, complex machines with many moving parts. They need specialised training, tools, and spare parts to be repaired or overhauled. For smaller MRO providers in particular, it can be difficult to locate qualified technicians and acquire specialised equipment.

Power plants and industrial facilities frequently experience protracted downtime when performing extensive maintenance or overhauls on steam turbines. This downtime could affect how much money is made and discourage people from making the necessary repairs.

Key Trends and Opportunities to Look at

  1. Predictive Maintenance, and Digitalisation

Digital technologies, such as sensors, IoT, and data analytics, are being adopted, and they are changing steam turbine MRO. By enabling real-time turbine health monitoring, these tools make it possible to perform predictive maintenance in order to avoid unanticipated failures and minimize downtime.

  1. Condition-based Monitoring

Steam turbine maintenance is increasingly dependent on condition-based monitoring systems. To assess the state of the turbine, these devices continually collect data on temperature, vibration, and other variables. Anomalies cause maintenance alerts, improving overall reliability.

  1. Remote monitoring and diagnosis.

Experts can evaluate the state of a turbine using remote monitoring technology from any location in the world. In particular, in remote or dangerous locations, this trend improves response times for troubleshooting and decreases the need for on-site personnel.

In the power generation sector, efficiency is of utmost importance. Providers of steam turbine maintenance, repair, and optimisation (MRO) are concentrating on optimizing turbine performance through component upgrades, retrofitting, and advanced control systems to improve energy efficiency and reduce emissions.

Global Steam Turbine MRO Market, DROs 

How Does the Regulatory Scenario Shape this Industry?

Stricter environmental regulations are still shaping the steam turbine MRO market. MRO providers need to stay current on changing compliance requirements and provide clients with solutions to help them meet them. MRO providers, OEMs, and technology companies are increasingly working together.

Through these partnerships, comprehensive solutions that address the changing needs of the sector can be developed. The market for steam turbine MRO is undergoing a transformation that is being driven by digitalisation, efficiency improvement, sustainability, and the incorporation of renewable energy sources.

The industry is adjusting to the shifting energy landscape with the aid of predictive maintenance, remote monitoring, and eco-friendly retrofits, all while ensuring safe and effective steam turbine operation. In the upcoming years, these trends are probably going to keep influencing how the Steam Turbine MRO market develops.

Fairfield’s Ranking Board

Top Segments

  1. 300MW-599 MW Category Maintains Dominance

The 300MW-599MW segment dominated the market in 2022. MRO procedures may support the steam turbine's optimal performance, which will boost output, lower energy consumption, and generate more power.

Regular maintenance may extend the turbine's working life, maximising your return on investment and delaying the requirement for costly replacements.

Furthermore, the less than 300MW category is projected to experience the fastest market growth. Regular maintenance may extend the turbine's working life, maximising your return on investment and delaying the requirement for costly replacements.

  1. Maintenance Category Evergreen

In 2022, the maintenance category dominated the industry. With the proper maintenance and service, the operating life of steam turbines may be greatly prolonged, enhancing the equipment's return on investment.

The repair category is anticipated to grow substantially throughout the projected period. Routine maintenance improves the performance of steam turbines, resulting in higher energy efficiency, reduced fuel usage, and increased output of power.

  1. Independent Service Providers in Demand

The independent service provider segment dominated the market in 2022. ISPs typically concentrate on steam turbine MRO, displaying their in-depth knowledge of this field. They are aware of the subtleties of steam turbine technology, making their services more effective and efficient.

The in-house category is expected to experience the fastest growth within the forecast time frame. Independent service providers can charge reasonable prices for their services. Because they are frequently more affordable than OEMs (Original Equipment Manufacturers), businesses can reduce maintenance costs.

  1. The Power Generation Category Leads

In 2022, the power generation category led the market growth. Steam turbine MRO aids in enhancing the dependability of power generation machinery. In order to maintain a steady flow of power entails spotting and resolving potential problems before they cause expensive breakdowns or outages.

Moreover, the oil and gas category is expected to grow fastest in the stream turbine MRO market during the forecast period. Enhancing safety is a top concern in the production of electricity. In order to ensure that the turbine operates safely and reduces the risk of accidents, MRO activities also include safety inspections and upgrades.

Regional Frontrunners

Maximum Adoption Recorded in Asia Pacific

In the packaging industries, stream turbine MRO adoption is anticipated to dominate in the Asia Pacific region. Particularly in nations like China and India, the Asian economies have been witnessing rapid industrial expansion.

To maintain power plant efficiency, there is an increasing need for dependable power generation, which drives the demand for steam turbine MRO services. To support its economic growth, Asia Pacific has a significant and rising demand for energy.

The need for maintenance and repair services follows investments in infrastructure for power generation, such as steam turbines. To keep them working efficiently and safely, the region’s numerous power production facilities require routine maintenance and overhauls for their ageing steam turbines.

 Global Steam Turbine MRO Market Regional Outlook, 2018 - 2030

North America’s Heavy Investments in Renewables to Open Doors to New Opportunities

A shift towards cleaner and more sustainable energy sources is taking place in North America. This includes enhancing the efficiency and environmental friendliness of the present steam turbines. An ageing power generation infrastructure, including steam turbines, exists in North America, similar to that in the Asian subcontinent.

The need for maintenance and overhauls is increasing as these assets get older. North America is investing heavily in renewable energy sources like wind and solar. However, some power plants continue to use steam turbines as a backup or to maintain grid stability.

The reliability of these turbines depends on maintenance. North American regulations give safety and environmental compliance priority. For power plants to comply with these strict requirements, steam turbine MRO services are crucial.  

North America Steam Turbine MRO Market, by End-user, 2018 - 2030, US$ Bn

Fairfield’s Competitive Landscape Analysis

The global stream turbine MRO market is a consolidated market with fewer major players present across the globe. The key players are introducing new products as well as working on the distribution channels to enhance their worldwide presence. Moreover, Fairfield Market Research is expecting the market to witness more consolidation over the coming years.

Who are the Leaders in Global Stream Turbine MRO Space?

  1. General Electric
  2. Sulzer
  3. Stork
  4. Hyundai Heavy Industries Co., Ltd
  5. Ansaldo Energia
  6. Shanghai Electric
  7. Mitsubishi Power
  8. Elliott Group
  9. Kessels
  10. Siemens AG
  11. Doosan Enerbility Co., Ltd.
  12. Dongfang Electric Corporation Limited
  13. Harbin Electric Co., Ltd.
  14. GE Power (GE Vernova)
  15. Toshiba Energy Systems & Solutions Corporation

Significant Company Developments

New Product Launches

  • July 2022: A new high-pressure steam turbine is being installed at the Slovenian nuclear power plant Krko during a maintenance outage. Owners of the plant are making preparations for its long-term operation into the first decade of 2040.
  • July 2021: Hughes Technical Services (HTS) was recently acquired by AP4 Group, the company announced in August 2022. Gary Hughes, the company's founder, would still be in charge of running HTS, an entirely owned subsidiary of AP4. It was anticipated that the combination would strengthen the already-existing heavy-duty industrial gas and steam turbine solution-oriented platforms of AP4.

Distribution Agreements

  • August 2022: The seller is ALSTOM, with registered headquarters at 25 Avenue Kléber, 75116 Paris, and company registration number B389 058 447 (the "Seller").
  • May 2022: emag Delaval N. Industrial Turbomachinery.V. (registered under number 08115006 at the Dutch Chamber of Commerce Veluwe en Twente) whose registered office is at Lansinkesweg 1, 7553AE Hengelo (Ov. (the "Purchaser").

An Expert’s Eye

Demand and Future Growth

As per Fairfield’s Analysis, they are frequently more affordable than OEMs, businesses can reduce maintenance costs is driving the market. Some independent service providers have a global presence, making them suitable partners for companies with operations across several regions.

Independent service providers can set up a local presence in a number of areas, which makes it simple for customers to get in touch with them when they are in need of services and support.

Supply Side of the Market

According to our analysis, the regional supply and production inputs of the steam turbine maintenance, repair, and overhaul (MRO) market can vary based on factors such as the type of turbines, the industries they serve, and the regions' energy infrastructure. The US has a significant market for steam turbine MRO, driven by a large number of power plants and industrial facilities that use steam turbines.

As one of the world's largest energy consumers, China has a growing demand for steam turbine maintenance and repair services. India's power generation sector relies heavily on steam turbines, creating a substantial need for MRO services. Germany, known for its advanced industrial and engineering sectors, the country is a major player in the European steam turbine MRO market.

Global Steam Turbine MRO Market is Segmented as Below:

By Capacity:

  • Less than 300 MW
  • 300 MW to 599 MW
  • 600 MW and Above

By End-Use Industry:

  • Power Generation
  • Oil and Gas
  • Others

By Service Type:

  • Maintenance
  • Repair
  • Overhaul

By Service Provider:

  • Independent Service Providers
  • In-House
  • Original Equipment Manufacturers

By Fuel Type:

  • Coal
  • Natural Gas
  • Nuclear

By Geographic Coverage:

  • North America 
    • U.S. 
    • Canada 
  • Europe 
    • Germany
    • U.K.
    • France
    • Italy
    • Turkey
    • Russia
    • Rest of Europe 
  • Asia Pacific 
    • China
    • Japan
    • South Korea
    • India
    • Southeast Asia
    • Rest of Asia Pacific 
  • Latin America 
    • Brazil 
    • Mexico 
    • Argentina
    • Rest of Latin America 
  • Middle East & Africa  
    • GCC 
    • South Africa
    • Egypt
    • Nigeria
    • Rest of Middle East & Africa

1. Executive Summary
    1.1. Global Steam Turbine MRO Market Snapshot
    1.2. Future Projections
    1.3. Key Market Trends
    1.4. Regional Snapshot, by Value, 2022
    1.5. Analyst Recommendations

 

2. Market Overview
    2.1. Market Definitions and Segmentations
    2.2. Market Dynamics
           2.2.1. Drivers
           2.2.2. Restraints
           2.2.3. Market Opportunities
    2.3. Value Chain Analysis
    2.4. Porter’s Five Forces Analysis
    2.5. Covid-19 Impact Analysis
           2.5.1. Supply
           2.5.2. Demand
    2.6. Impact of Ukraine-Russia Conflict
    2.7. Economic Overview
           2.7.1. World Economic Projections
    2.8. PESTLE Analysis

 

3. Global Steam Turbine MRO Market Outlook, 2018 - 2030
    3.1. Global Steam Turbine MRO Market Outlook, by Capacity, Value (US$ Bn), 2018 - 2030
           3.1.1. Key Highlights
                 3.1.1.1. Less than 300 MW
                 3.1.1.2. 300 MW to 599 MW
                 3.1.1.3. 600 MW and Above
    3.2. Global Steam Turbine MRO Market Outlook, by End-Use Industry, Value (US$ Bn), 2018 - 2030
           3.2.1. Key Highlights
                 3.2.1.1. Power Generation
                 3.2.1.2. Oil and Gas
                 3.2.1.3. Others
    3.3. Global Steam Turbine MRO Market Outlook, by Service Type, Value (US$ Bn), 2018 - 2030
           3.3.1. Key Highlights
                 3.3.1.1. Maintenance
                 3.3.1.2. Repair
                 3.3.1.3. Overhaul
    3.4. Global Steam Turbine MRO Market Outlook, by Service Provider, Value (US$ Bn), 2018 - 2030
           3.4.1. Key Highlights Snacks
                 3.4.1.1. Independent Service Providers
                 3.4.1.2. In-House
                 3.4.1.3. Original Equipment Manufacturers
    3.5. Global Steam Turbine MRO Market Outlook, by Fuel Type, Value (US$ Bn), 2018 - 2030
           3.5.1. Key Highlights
                 3.5.1.1. Coal
                 3.5.1.2. Natural Gas
                 3.5.1.3. Nuclear
    3.6. Global Steam Turbine MRO Market Outlook, by Reign, Value (US$ Bn), 2018 - 2030
           3.6.1. Key Highlights
                 3.6.1.1. North America
                 3.6.1.2. Europe
                 3.6.1.3. Asia Pacific
                 3.6.1.4. Latin America
                 3.6.1.5. Middle East & Africa

 

4. North America Steam Turbine MRO Market Outlook, 2018 - 2030
    4.1. North America Steam Turbine MRO Market Outlook, by Capacity, Value (US$ Bn), 2018 - 2030
           4.1.1. Key Highlights
                 4.1.1.1. Less than 300 MW
                 4.1.1.2. 300 MW to 599 MW
                 4.1.1.3. 600 MW and Above
    4.2. North America Steam Turbine MRO Market Outlook, by End-Use Industry, Value (US$ Bn), 2018 - 2030
           4.2.1. Key Highlights
                 4.2.1.1. Power Generation
                 4.2.1.2. Oil and Gas
                 4.2.1.3. Others
    4.3. North America Steam Turbine MRO Market Outlook, by Service Type, Value (US$ Bn), 2018 - 2030
           4.3.1. Key Highlights
                 4.3.1.1. Maintenance
                 4.3.1.2. Repair
                 4.3.1.3. Overhaul
    4.4. North America Steam Turbine MRO Market Outlook, by Service Provider, Value (US$ Bn), 2018 - 2030
           4.4.1. Key Highlights
                 4.4.1.1. Independent Service Providers
                 4.4.1.2. In-House
                 4.4.1.3. Original Equipment Manufacturers
    4.5. North America Steam Turbine MRO Market Outlook, by Fuel Type, Value (US$ Bn), 2018 - 2030
           4.5.1. Key Highlights
                 4.5.1.1. Coal
                 4.5.1.2. Natural Gas
                 4.5.1.3. Nuclear
           4.5.2. BPS Analysis/Market Attractiveness Analysis
    4.6. North America Steam Turbine MRO Market Outlook, by Country, Value (US$ Bn), 2018 - 2030
           4.6.1. Key Highlights
                 4.6.1.1. U.S. Steam Turbine MRO Market by Capacity, Value (US$ Bn), 2018 - 2030
                 4.6.1.2. U.S. Steam Turbine MRO Market End-Use Industry, Value (US$ Bn), 2018 - 2030
                 4.6.1.3. U.S. Steam Turbine MRO Market Service Type, Value (US$ Bn), 2018 - 2030
                 4.6.1.4. U.S. Steam Turbine MRO Market Service Provider, Value (US$ Bn), 2018 - 2030
                 4.6.1.5. U.S. Steam Turbine MRO Market Fuel Type, Value (US$ Bn), 2018 - 2030
                 4.6.1.6. Canada Steam Turbine MRO Market by Capacity, Value (US$ Bn), 2018 - 2030
                 4.6.1.7. Canada Steam Turbine MRO Market End-Use Industry, Value (US$ Bn), 2018 - 2030
                 4.6.1.8. Canada Steam Turbine MRO Market Service Type, Value (US$ Bn), 2018 - 2030
                 4.6.1.9. Canada Steam Turbine MRO Market Service Provider, Value (US$ Bn), 2018 - 2030
                 4.6.1.10. Canada Steam Turbine MRO Market Fuel Type, Value (US$ Bn), 2018 - 2030
           4.6.2. BPS Analysis/Market Attractiveness Analysis

 

5. Europe Steam Turbine MRO Market Outlook, 2018 - 2030
    5.1. Europe Steam Turbine MRO Market Outlook, by Capacity, Value (US$ Bn), 2018 - 2030
           5.1.1. Key Highlights
                 5.1.1.1. Less than 300 MW
                 5.1.1.2. 300 MW to 599 MW
                 5.1.1.3. 600 MW and Above
    5.2. Europe Steam Turbine MRO Market Outlook, by End-Use Industry, Value (US$ Bn), 2018 - 2030
           5.2.1. Key Highlights
                 5.2.1.1. Power Generation
                 5.2.1.2. Oil and Gas
                 5.2.1.3. Others
    5.3. Europe Steam Turbine MRO Market Outlook, by Service Type, Value (US$ Bn), 2018 - 2030
           5.3.1. Key Highlights
                 5.3.1.1. Maintenance
                 5.3.1.2. Repair
                 5.3.1.3. Overhaul
    5.4. Europe Steam Turbine MRO Market Outlook, by Service Provider, Value (US$ Bn), 2018 - 2030
           5.4.1. Key Highlights
                 5.4.1.1. Independent Service Providers
                 5.4.1.2. In-House
                 5.4.1.3. Original Equipment Manufacturers
    5.5. Europe Steam Turbine MRO Market Outlook, by Fuel Type, Value (US$ Bn), 2018 - 2030
           5.5.1. Key Highlights
                 5.5.1.1. Coal
                 5.5.1.2. Natural Gas
                 5.5.1.3. Nuclear
           5.5.2. BPS Analysis/Market Attractiveness Analysis
    5.6. Europe Steam Turbine MRO Market Outlook, by Country, Value (US$ Bn), 2018 - 2030
           5.6.1. Key Highlights
                 5.6.1.1. Germany Steam Turbine MRO Market by Capacity, Value (US$ Bn), 2018 - 2030
                 5.6.1.2. Germany Steam Turbine MRO Market End-Use Industry, Value (US$ Bn), 2018 - 2030
                 5.6.1.3. Germany Steam Turbine MRO Market Service Type, Value (US$ Bn), 2018 - 2030
                 5.6.1.4. Germany Steam Turbine MRO Market Service Provider, Value (US$ Bn), 2018 - 2030
                 5.6.1.5. Germany Steam Turbine MRO Market Fuel Type, Value (US$ Bn), 2018 - 2030
                 5.6.1.6. U.K. Steam Turbine MRO Market by Capacity, Value (US$ Bn), 2018 - 2030
                 5.6.1.7. U.K. Steam Turbine MRO Market End-Use Industry, Value (US$ Bn), 2018 - 2030
                 5.6.1.8. U.K. Steam Turbine MRO Market Service Type, Value (US$ Bn), 2018 - 2030
                 5.6.1.9. U.K. Steam Turbine MRO Market Service Provider, Value (US$ Bn), 2018 - 2030
                 5.6.1.10. U.K. Steam Turbine MRO Market Fuel Type, Value (US$ Bn), 2018 - 2030
                 5.6.1.11. France Steam Turbine MRO Market by Capacity, Value (US$ Bn), 2018 - 2030
                 5.6.1.12. France Steam Turbine MRO Market End-Use Industry, Value (US$ Bn), 2018 - 2030
                 5.6.1.13. France Steam Turbine MRO Market Service Type, Value (US$ Bn), 2018 - 2030
                 5.6.1.14. France Steam Turbine MRO Market Service Provider, Value (US$ Bn), 2018 - 2030
                 5.6.1.15. France Steam Turbine MRO Market Fuel Type, Value (US$ Bn), 2018 - 2030
                 5.6.1.16. Italy Steam Turbine MRO Market by Capacity, Value (US$ Bn), 2018 - 2030
                 5.6.1.17. Italy Steam Turbine MRO Market End-Use Industry, Value (US$ Bn), 2018 - 2030
                 5.6.1.18. Italy Steam Turbine MRO Market Service Type, Value (US$ Bn), 2018 - 2030
                 5.6.1.19. Italy Steam Turbine MRO Market Service Provider, Value (US$ Bn), 2018 - 2030
                 5.6.1.20. Italy Steam Turbine MRO Market Fuel Type, Value (US$ Bn), 2018 - 2030
                 5.6.1.21. Turkey Steam Turbine MRO Market by Capacity, Value (US$ Bn), 2018 - 2030
                 5.6.1.22. Turkey Steam Turbine MRO Market End-Use Industry, Value (US$ Bn), 2018 - 2030
                 5.6.1.23. Turkey Steam Turbine MRO Market Service Type, Value (US$ Bn), 2018 - 2030
                 5.6.1.24. Turkey Steam Turbine MRO Market Service Provider, Value (US$ Bn), 2018 - 2030
                 5.6.1.25. Turkey Steam Turbine MRO Market Fuel Type, Value (US$ Bn), 2018 - 2030
                 5.6.1.26. Russia Steam Turbine MRO Market by Capacity, Value (US$ Bn), 2018 - 2030
                 5.6.1.27. Russia Steam Turbine MRO Market End-Use Industry, Value (US$ Bn), 2018 - 2030
                 5.6.1.28. Russia Steam Turbine MRO Market Service Type, Value (US$ Bn), 2018 - 2030
                 5.6.1.29. Russia Steam Turbine MRO Market Service Provider, Value (US$ Bn), 2018 - 2030
                 5.6.1.30. Russia Steam Turbine MRO Market Fuel Type, Value (US$ Bn), 2018 - 2030
                 5.6.1.31. Rest of Europe Steam Turbine MRO Market by Capacity, Value (US$ Bn), 2018 - 2030
                 5.6.1.32. Rest of Europe Steam Turbine MRO Market End-Use Industry, Value (US$ Bn), 2018 - 2030
                 5.6.1.33. Rest of Europe Steam Turbine MRO Market Service Type, Value (US$ Bn), 2018 - 2030
                 5.6.1.34. Rest of Europe Steam Turbine MRO Market Service Provider, Value (US$ Bn), 2018 - 2030
                 5.6.1.35. Rest of Europe Steam Turbine MRO Market Fuel Type, Value (US$ Bn), 2018 - 2030
           5.6.2. BPS Analysis/Market Attractiveness Analysis

 

6. Asia Pacific Steam Turbine MRO Market Outlook, 2018 - 2030
    6.1. Asia Pacific Steam Turbine MRO Market Outlook, by Capacity, Value (US$ Bn), 2018 - 2030
           6.1.1. Key Highlights
                 6.1.1.1. Less than 300 MW
                 6.1.1.2. 300 MW to 599 MW
                 6.1.1.3. 600 MW and Above
    6.2. Asia Pacific Steam Turbine MRO Market Outlook, by End-Use Industry, Value (US$ Bn), 2018 - 2030
           6.2.1. Key Highlights
                 6.2.1.1. Power Generation
                 6.2.1.2. Oil and Gas
                 6.2.1.3. Others
    6.3. Asia Pacific Steam Turbine MRO Market Outlook, by Service Type, Value (US$ Bn), 2018 - 2030
           6.3.1. Key Highlights
                 6.3.1.1. Maintenance
                 6.3.1.2. Repair
                 6.3.1.3. Overhaul
    6.4. Asia Pacific Steam Turbine MRO Market Outlook, by Service Provider, Value (US$ Bn), 2018 - 2030
           6.4.1. Key Highlights
                 6.4.1.1. Independent Service Providers
                 6.4.1.2. In-House
                 6.4.1.3. Original Equipment Manufacturers
    6.5. Asia Pacific Steam Turbine MRO Market Outlook, by Fuel Type, Value (US$ Bn), 2018 - 2030
           6.5.1. Key Highlights
                 6.5.1.1. Coal
                 6.5.1.2. Natural Gas
                 6.5.1.3. Nuclear
           6.5.2. BPS Analysis/Market Attractiveness Analysis
    6.6. Asia Pacific Steam Turbine MRO Market Outlook, by Country, Value (US$ Bn), 2018 - 2030
           6.6.1. Key Highlights
                 6.6.1.1. China Steam Turbine MRO Market by Capacity, Value (US$ Bn), 2018 - 2030
                 6.6.1.2. China Steam Turbine MRO Market End-Use Industry, Value (US$ Bn), 2018 - 2030
                 6.6.1.3. China Steam Turbine MRO Market Service Type, Value (US$ Bn), 2018 - 2030
                 6.6.1.4. China Steam Turbine MRO Market Service Provider, Value (US$ Bn), 2018 - 2030
                 6.6.1.5. China Steam Turbine MRO Market Fuel Type, Value (US$ Bn), 2018 - 2030
                 6.6.1.6. Japan Steam Turbine MRO Market by Capacity, Value (US$ Bn), 2018 - 2030
                 6.6.1.7. Japan Steam Turbine MRO Market End-Use Industry, Value (US$ Bn), 2018 - 2030
                 6.6.1.8. Japan Steam Turbine MRO Market Service Type, Value (US$ Bn), 2018 - 2030
                 6.6.1.9. Japan Steam Turbine MRO Market Service Provider, Value (US$ Bn), 2018 - 2030
                 6.6.1.10. Japan Steam Turbine MRO Market Service Fuel Type, Value (US$ Bn), 2018 - 2030
                 6.6.1.11. South Korea Steam Turbine MRO Market by Capacity, Value (US$ Bn), 2018 - 2030
                 6.6.1.12. South Korea Steam Turbine MRO Market End-Use Industry, Value (US$ Bn), 2018 - 2030
                 6.6.1.13. South Korea Steam Turbine MRO Market Service Type, Value (US$ Bn), 2018 - 2030
                 6.6.1.14. South Korea Steam Turbine MRO Market Service Provider, Value (US$ Bn), 2018 - 2030
                 6.6.1.15. South Korea Steam Turbine MRO Market Fuel Type, Value (US$ Bn), 2018 - 2030
                 6.6.1.16. India Steam Turbine MRO Market by Capacity, Value (US$ Bn), 2018 - 2030
                 6.6.1.17. India Steam Turbine MRO Market End-Use Industry, Value (US$ Bn), 2018 - 2030
                 6.6.1.18. India Steam Turbine MRO Market Service Type, Value (US$ Bn), 2018 - 2030
                 6.6.1.19. India Steam Turbine MRO Market Service Provider, Value (US$ Bn), 2018 - 2030
                 6.6.1.20. India Steam Turbine MRO Market Service Fuel Type, Value (US$ Bn), 2018 - 2030
                 6.6.1.21. Southeast Asia Steam Turbine MRO Market by Capacity, Value (US$ Bn), 2018 - 2030
                 6.6.1.22. Southeast Asia Steam Turbine MRO Market End-Use Industry, Value (US$ Bn), 2018 - 2030
                 6.6.1.23. Southeast Asia Steam Turbine MRO Market Service Type, Value (US$ Bn), 2018 - 2030
                 6.6.1.24. Southeast Asia Steam Turbine MRO Market Service Provider, Value (US$ Bn), 2018 - 2030
                 6.6.1.25. Southeast Asia Steam Turbine MRO Market Fuel Type, Value (US$ Bn), 2018 - 2030
                 6.6.1.26. Rest of Asia Pacific Steam Turbine MRO Market by Capacity, Value (US$ Bn), 2018 - 2030
                 6.6.1.27. Rest of Asia Pacific Steam Turbine MRO Market End-Use Industry, Value (US$ Bn), 2018 - 2030
                 6.6.1.28. Rest of Asia Pacific Steam Turbine MRO Market Service Type, Value (US$ Bn), 2018 - 2030
                 6.6.1.29. Rest of Asia Pacific Steam Turbine MRO Market Service Provider, Value (US$ Bn), 2018 - 2030
                 6.6.1.30. Rest of Asia Pacific Steam Turbine MRO Market Fuel Type, Value (US$ Bn), 2018 - 2030
           6.6.2. BPS Analysis/Market Attractiveness Analysis

 

7. Latin America Steam Turbine MRO Market Outlook, 2018 - 2030
    7.1. Latin America Steam Turbine MRO Market Outlook, by Capacity, Value (US$ Bn), 2018 - 2030
           7.1.1. Key Highlights
                 7.1.1.1. Less than 300 MW
                 7.1.1.2. 300 MW to 599 MW
                 7.1.1.3. 600 MW and Above
    7.2. Latin America Steam Turbine MRO Market Outlook, by End-Use Industry, Value (US$ Bn), 2018 - 2030  
           7.2.1. Key Highlights
                 7.2.1.1. Power Generation
                 7.2.1.2. Oil and Gas
                 7.2.1.3. Others
    7.3. Latin America Steam Turbine MRO Market Outlook, by Service Type, Value (US$ Bn), 2018 - 2030
           7.3.1. Key Highlights
                 7.3.1.1. Maintenance
                 7.3.1.2. Repair
                 7.3.1.3. Overhaul
    7.4. Latin America Steam Turbine MRO Market Outlook, by Service Provider, Value (US$ Bn), 2018 - 2030
           7.4.1. Key Highlights
                 7.4.1.1. Independent Service Providers
                 7.4.1.2. In-House
                 7.4.1.3. Original Equipment Manufacturers
    7.5. Latin America Steam Turbine MRO Market Outlook, by Fuel Type, Value (US$ Bn), 2018 - 2030
           7.5.1. Key Highlights
                 7.5.1.1. Coal
                 7.5.1.2. Natural Gas
                 7.5.1.3. Nuclear
           7.5.2. BPS Analysis/Market Attractiveness Analysis
    7.6. Latin America Steam Turbine MRO Market Outlook, by Country, Value (US$ Bn), 2018 - 2030
           7.6.1. Key Highlights
                 7.6.1.1. Brazil Steam Turbine MRO Market by Capacity, Value (US$ Bn), 2018 - 2030
                 7.6.1.2. Brazil Steam Turbine MRO Market End-Use Industry, Value (US$ Bn), 2018 - 2030
                 7.6.1.3. Brazil Steam Turbine MRO Market Service Type, Value (US$ Bn), 2018 - 2030
                 7.6.1.4. Mexico Steam Turbine MRO Market by Capacity, Value (US$ Bn), 2018 - 2030
                 7.6.1.5. Mexico Steam Turbine MRO Market End-Use Industry, Value (US$ Bn), 2018 - 2030
                 7.6.1.6. Mexico Steam Turbine MRO Market Service Type, Value (US$ Bn), 2018 - 2030
                 7.6.1.7. Mexico Steam Turbine MRO Market Service Provider, Value (US$ Bn), 2018 - 2030
                 7.6.1.8. Argentina Steam Turbine MRO Market by Capacity, Value (US$ Bn), 2018 - 2030
                 7.6.1.9. Argentina Steam Turbine MRO Market End-Use Industry, Value (US$ Bn), 2018 - 2030
                 7.6.1.10. Argentina Steam Turbine MRO Market Service Type, Value (US$ Bn), 2018 - 2030
                 7.6.1.11. Argentina Steam Turbine MRO Market Service Provider, Value (US$ Bn), 2018 - 2030
                 7.6.1.12. Rest of Latin America Steam Turbine MRO Market by Capacity, Value (US$ Bn), 2018 - 2030
                 7.6.1.13. Rest of Latin America Steam Turbine MRO Market End-Use Industry, Value (US$ Bn), 2018 - 2030
                 7.6.1.14. Rest of Latin America Steam Turbine MRO Market Service Type, Value (US$ Bn), 2018 - 2030
                 7.6.1.15. Rest of Latin America Steam Turbine MRO Market Service Provider, Value (US$ Bn), 2018 - 2030
           7.6.2. BPS Analysis/Market Attractiveness Analysis

 

8. Middle East & Africa Steam Turbine MRO Market Outlook, 2018 - 2030
    8.1. Middle East & Africa Steam Turbine MRO Market Outlook, by Capacity, Value (US$ Bn), 2018 - 2030
           8.1.1. Key Highlights
                 8.1.1.1. Less than 300 MW
                 8.1.1.2. 300 MW to 599 MW
                 8.1.1.3. 600 MW and Above
    8.2. Middle East & Africa Steam Turbine MRO Market Outlook, by End-Use Industry, Value (US$ Bn), 2018 - 2030
           8.2.1. Key Highlights
                 8.2.1.1. Power Generation
                 8.2.1.2. Oil and Gas
                 8.2.1.3. Others
    8.3. Middle East & Africa Steam Turbine MRO Market Outlook, by Service Type, Value (US$ Bn), 2018 - 2030
           8.3.1. Key Highlights
                 8.3.1.1. Maintenance
                 8.3.1.2. Repair
                 8.3.1.3. Overhaul
    8.4. Middle East & Africa Steam Turbine MRO Market Outlook, by Service Provider, Value (US$ Bn), 2018 - 2030
           8.4.1. Key Highlights
                 8.4.1.1. Independent Service Providers
                 8.4.1.2. In-House
                 8.4.1.3. Original Equipment Manufacturers
    8.5. Middle East & Africa Steam Turbine MRO Market Outlook, by Service Provider, Value (US$ Bn), 2018 - 2030
           8.5.1. Key Highlights
                 8.5.1.1. Coal
                 8.5.1.2. Natural Gas
                 8.5.1.3. Nuclear
           8.5.2. BPS Analysis/Market Attractiveness Analysis
    8.6. Middle East & Africa Steam Turbine MRO Market Outlook, by Country, Value (US$ Bn), 2018 - 2030
           8.6.1. Key Highlights
                 8.6.1.1. GCC Steam Turbine MRO Market by Capacity, Value (US$ Bn), 2018 - 2030
                 8.6.1.2. GCC Steam Turbine MRO Market End-Use Industry, Value (US$ Bn), 2018 - 2030
                 8.6.1.3. GCC Steam Turbine MRO Market Service Type, Value (US$ Bn), 2018 - 2030
                 8.6.1.4. GCC Steam Turbine MRO Market Service Provider, Value (US$ Bn), 2018 - 2030
                 8.6.1.5. South Africa Steam Turbine MRO Market by Capacity, Value (US$ Bn), 2018 - 2030
                 8.6.1.6. South Africa Steam Turbine MRO Market End-Use Industry, Value (US$ Bn), 2018 - 2030
                 8.6.1.7. South Africa Steam Turbine MRO Market Service Type, Value (US$ Bn), 2018 - 2030
                 8.6.1.8. South Africa Steam Turbine MRO Market Service Provider, Value (US$ Bn), 2018 - 2030
                 8.6.1.9. Egypt Steam Turbine MRO Market by Capacity, Value (US$ Bn), 2018 - 2030
                 8.6.1.10. Egypt Steam Turbine MRO Market End-Use Industry, Value (US$ Bn), 2018 - 2030
                 8.6.1.11. Egypt Steam Turbine MRO Market Service Type, Value (US$ Bn), 2018 - 2030
                 8.6.1.12. Egypt Steam Turbine MRO Market Service Provider, Value (US$ Bn), 2018 - 2030
                 8.6.1.13. Nigeria Steam Turbine MRO Market by Capacity, Value (US$ Bn), 2018 - 2030
                 8.6.1.14. Nigeria Steam Turbine MRO Market End-Use Industry, Value (US$ Bn), 2018 - 2030
                 8.6.1.15. Nigeria Steam Turbine MRO Market Service Type, Value (US$ Bn), 2018 - 2030
                 8.6.1.16. Nigeria Steam Turbine MRO Market Service Provider, Value (US$ Bn), 2018 - 2030
                 8.6.1.17. Rest of Middle East & Africa Steam Turbine MRO Market by Capacity, Value (US$ Bn), 2018 - 2030
                 8.6.1.18. Rest of Middle East & Africa Steam Turbine MRO Market End-Use Industry, Value (US$ Bn), 2018 - 2030
                 8.6.1.19. Rest of Middle East & Africa Steam Turbine MRO Market Service Type, Value (US$ Bn), 2018 - 2030
                 8.6.1.20. Rest of Middle East & Africa Steam Turbine MRO Market Service Provider, Value (US$ Bn), 2018 - 2030
           8.6.2. BPS Analysis/Market Attractiveness Analysis

 

9. Competitive Landscape
    9.1. Service Type vs End-Use Industry Heatmap
    9.2. Manufacturer vs End-Use Industry Heatmap
    9.3. Company Market Share Analysis, 2022
    9.4. Competitive Dashboard
    9.5. Company Profiles
           9.5.1. Blueprint
           9.5.2. General Electric
                 9.5.2.1. Company Overview
                 9.5.2.2. Product Portfolio
                 9.5.2.3. Financial Overview
                 9.5.2.4. Business Strategies and Development
           9.5.3. Sulzer
                 9.5.3.1. Company Overview
                 9.5.3.2. Product Portfolio
                 9.5.3.3. Financial Overview
                 9.5.3.4. Business Strategies and Development
           9.5.4. Stork
                 9.5.4.1. Company Overview
                 9.5.4.2. Product Portfolio
                 9.5.4.3. Financial Overview
                 9.5.4.4. Business Strategies and Development
           9.5.5. Hyundai Heavy Industries Co.
                 9.5.5.1. Company Overview
                 9.5.5.2. Product Portfolio
                 9.5.5.3. Financial Overview
                 9.5.5.4. Business Strategies and Development
           9.5.6. Ansaldo Energia
                 9.5.6.1. Company Overview
                 9.5.6.2. Product Portfolio
                 9.5.6.3. Financial Overview
                 9.5.6.4. Business Strategies and Development
           9.5.7. Shanghai Electric
                 9.5.7.1. Company Overview
                 9.5.7.2. Product Portfolio
                 9.5.7.3. Financial Overview
                 9.5.7.4. Business Strategies and Development
           9.5.8. Mitsubishi Power
                 9.5.8.1. Company Overview
                 9.5.8.2. Product Portfolio
                 9.5.8.3. Financial Overview
                 9.5.8.4. Business Strategies and Development
           9.5.9. Elliott Group
                 9.5.9.1. Company Overview
                 9.5.9.2. Product Portfolio
                 9.5.9.3. Business Strategies and Development
           9.5.10. Kessels
                 9.5.10.1. Company Overview
                 9.5.10.2. Product Portfolio
                 9.5.10.3. Financial Overview
                 9.5.10.4. Business Strategies and Development
           9.5.11. Siemens AG
                 9.5.11.1. Company Overview
                 9.5.11.2. Product Portfolio
                 9.5.11.3. Financial Overview
                 9.5.11.4. Business Strategies and Development
           9.5.12. Doosan Enerbility Co., Ltd.
                 9.5.12.1. Company Overview
                 9.5.12.2. Product Portfolio
                 9.5.12.3. Financial Overview
                 9.5.12.4. Business Strategies and Development
           9.5.13. Dongfang Electric Corporation Limited.
                 9.5.13.1. Company Overview
                 9.5.13.2. Product Portfolio
                 9.5.13.3. Financial Overview
                 9.5.13.4. Business Strategies and Development
           9.5.14. Harbin Electric Co., Ltd.
                 9.5.14.1. Company Overview
                 9.5.14.2. Product Portfolio
                 9.5.14.3. Financial Overview
                 9.5.14.4. Business Strategies and Development
           9.5.15. GE Power (GE Vernova)
                 9.5.15.1. Company Overview
                 9.5.15.2. Product Portfolio
                 9.5.15.3. Financial Overview
                 9.5.15.4. Business Strategies and Development
           9.5.16. Toshiba Energy Systems & Solutions Corporation.
                 9.5.16.1. Company Overview
                 9.5.16.2. Product Portfolio
                 9.5.16.3. Financial Overview
                 9.5.16.4. Business Strategies and Development

 

10. Appendix
    10.1. Research Methodology
    10.2. Report Assumptions
    10.3. Acronyms and Abbreviations

BASE YEAR

HISTORICAL DATA

FORECAST PERIOD

UNITS

2022

 

2018 - 2022

2023 - 2030

Value: US$ Million

 

REPORT FEATURES

DETAILS

Capacity Coverage

  • Less than 300 MW
  • 300 MW to 599 MW 
  • 600 MW and Above

End-use Industry Coverage

  • Power Generation 
  • Oil and Gas 
  • Others

Service Type Coverage

  • Maintenance 
  • Repair 
  • Overhaul

Service Provider Coverage

  • Independent Service Providers 
  • In-House 
  • Original Equipment Manufacturers

Fuel Type Coverage

  • Coal 
  • Natural Gas 
  • Nuclear

Geographical Coverage

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of EU
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of APAC
  • Latin America
  • Brazil 
  • Mexico 
  • Rest of Latin America 
  • Middles East & Africa
  • GCC Countries 
  • South Africa 
  • Rest of Middle East & Africa

Leading Companies

  • General Electric
  • Sulzer
  • Stork
  • Hyundai Heavy Industries Co., Ltd
  • Ansaldo Energia
  • Shanghai Electric
  • Mitsubishi Power
  • Elliott Group
  • Kessels
  • Siemens AG
  • Doosan Enerbility Co., Ltd.
  • Dongfang Electric Corporation Limited
  • Harbin Electric Co., Ltd.
  • GE Power (GE Vernova)
  • Toshiba Energy Systems & Solutions Corporation

Report Highlights

Key Market Indicators, Macro-micro economic impact analysis,

Technological Roadmap, Key Trends, Driver, Restraints, and Future

Opportunities & Revenue Pockets, Porters 5 Forces Analysis, Historical

Trend (2019-2021), Market Estimates and Forecast, Market Dynamics,

Industry Trends, Competition Landscape, Category, Region, Country

wise Trends & Analysis, COVID-19 Impact Analysis (Demand and

Supply Chain)

FAQs : Steam Turbine MRO Market

Some of the biggest names in the global steam turbine MRO industry include companies like Sulzer, Kessels, Siemens, Mitsubishi Power, General Electric, GE Power, and Toshiba Energy Systems & Solutions Corporation.

The 300MW to 599MW segment holds a significant revenue share of the steam turbine MRO market. Moreover, the maintenance category constitutes the lion’s share in the market. By region, the market in Asia Pacific continues to surge ahead of the other regional segments.

The demand for steam turbine MRO services is majorly driven by the ageing infrastructure in many regions, including North America, and Europe, has led to an increased need for maintenance and repair to extend the lifespan of existing steam turbines. As the emphasis on energy efficiency and sustainability has encouraged power plants to optimise the performance of their steam turbines through regular maintenance, it will continue to elevate the growth prospects of the market.

The shift toward renewable energy sources is reducing the reliance on traditional power plants, impacting the steam turbine MRO market. Companies are diversifying their service offerings to include maintenance and support for renewable energy technologies, such as geothermal and biomass power generation.

Technological advancements like predictive maintenance, and the use of advanced materials and coatings, are revolutionising the steam turbine MRO industry. Predictive maintenance tools, powered by data analytics and IoT sensors, enable businesses to schedule maintenance tasks more efficiently, reducing downtime. Companies would discover opportunities in forms of cost efficiency, and cutting-edge MRO services.

Our Research Methodology

Considering the volatility of business today, traditional approaches to strategizing a game plan can be unfruitful if not detrimental. True ambiguity is no way to determine a forecast. A myriad of predetermined factors must be accounted for such as the degree of risk involved, the magnitude of circumstances, as well as conditions or consequences that are not known or unpredictable. To circumvent binary views that cast uncertainty, the application of market research intelligence to strategically posture, move, and enable actionable outcomes is necessary.

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