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.