Global Steam Turbine MRO Market Growth (Status and Outlook) 2025-2031

Publication ID:

LPI01250639

Publication Date:

January 8, 2025

Pages:

124

Publisher:

LPI

Countries:

Global [1]

USD 3,660.00

Manufacturers [2]

Machinery [3]

Industry & Manufacturing [4]

Description:

The global Steam Turbine MRO market size is predicted to grow from US$ 6036 million in 2025 to US$ 8430 million in 2031; it is expected to grow at a CAGR of 5.7% from 2025 to 2031.
Steam Turbine MRO (Maintenance, Repair, and Overhaul) refers to the services aimed at ensuring the efficient and reliable operation of steam turbines throughout their lifecycle. This includes: Maintenance: Regular inspections, cleaning, and part replacements to prevent failures. Repair: Fixing specific issues such as blade damage, seal wear, or bearing failures. Overhaul: Comprehensive servicing of the turbine to restore it to optimal performance, often involving disassembly, inspection, and replacement of critical components. Steam Turbine MRO is critical in industries such as power generation, oil & gas, chemical processing, and manufacturing, where downtime can lead to significant economic losses.
The steam turbine MRO market is witnessing steady growth due to the aging fleet of turbines, the need for operational efficiency, and the increasing adoption of maintenance programs in industries.
Market Drivers
Aging Infrastructure: Many steam turbines in operation today have exceeded their design lifespans, necessitating MRO services to extend their usability. Demand for Operational Efficiency: Industries seek to minimize downtime and maximize energy efficiency, driving demand for proactive MRO services. Regulatory Compliance: Stricter emissions and safety regulations encourage regular maintenance and upgrades. Growth in Energy Demand: Rising global energy needs sustain the demand for steam turbines, indirectly supporting the MRO market.
Market Restraints
High Costs: MRO services can be expensive, particularly for older turbines requiring significant overhauls. Skilled Workforce Shortage: A lack of experienced personnel can delay or limit MRO operations. Shift Toward Renewables: The increasing adoption of renewable energy sources may reduce reliance on steam turbines, affecting long-term MRO demand.
Market Opportunities
Digital Transformation: Integration of predictive maintenance tools, IoT, and AI to monitor turbine health and optimize MRO schedules. Emerging Markets: Industrial expansion in developing regions creates demand for reliable turbine operations and MRO services. Retrofit and Modernization: Upgrading older turbines with modern components and technologies provides significant opportunities.
The 鈥淪team Turbine MRO Industry Forecast鈥� looks at past sales and reviews total world Steam Turbine MRO sales in 2024, providing a comprehensive analysis by region and market sector of projected Steam Turbine MRO sales for 2025 through 2031. With Steam Turbine MRO sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Steam Turbine MRO industry.
This Insight Report provides a comprehensive analysis of the global Steam Turbine MRO landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyses the strategies of leading global companies with a focus on Steam Turbine MRO portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms鈥� unique position in an accelerating global Steam Turbine MRO market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Steam Turbine MRO and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Steam Turbine MRO.
This report presents a comprehensive overview, market shares, and growth opportunities of Steam Turbine MRO market by product type, application, key players and key regions and countries.
Segmentation by Type:
Maintenance
Repair
Overhaul
Spare Parts
Segmentation by Application:
Power
Oil and Gas
Others
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
General Electric
Siemens
Dongfang Electric
Shanghai Electric
MHPS
MAN Energy Solutions
Ebara Elliott
EthosEnergy
Sulzer
Harbin Electric
Ansaldo Energia
Toshiba Energy
Stork
Hangzhou Steam Turbine
Kawasaki Heavy Industries
Shandong Qingneng

Please Note - This is an on demand report and will be delivered in 2 business days (48 hours) post payment.

Table Of Contents:

1 Scope of the Report
1.1 Market Introduction
1.2 Years Considered
1.3 Research Objectives
1.4 Market Research Methodology
1.5 Research Process and Data Source
1.6 Economic Indicators
1.7 Currency Considered
1.8 Market Estimation Caveats
2 Executive Summary
2.1 World Market Overview
2.1.1 Global Steam Turbine MRO Market Size (2020-2031)
2.1.2 Steam Turbine MRO Market Size CAGR by Region (2020 VS 2024 VS 2031)
2.1.3 World Current & Future Analysis for Steam Turbine MRO by Country/Region (2020, 2024 & 2031)
2.2 Steam Turbine MRO Segment by Type
2.2.1 Maintenance
2.2.2 Repair
2.2.3 Overhaul
2.2.4 Spare Parts
2.3 Steam Turbine MRO Market Size by Type
2.3.1 Steam Turbine MRO Market Size CAGR by Type (2020 VS 2024 VS 2031)
2.3.2 Global Steam Turbine MRO Market Size Market Share by Type (2020-2025)
2.4 Steam Turbine MRO Segment by Application
2.4.1 Power
2.4.2 Oil and Gas
2.4.3 Others
2.5 Steam Turbine MRO Market Size by Application
2.5.1 Steam Turbine MRO Market Size CAGR by Application (2020 VS 2024 VS 2031)
2.5.2 Global Steam Turbine MRO Market Size Market Share by Application (2020-2025)
3 Steam Turbine MRO Market Size by Player
3.1 Steam Turbine MRO Market Size Market Share by Player
3.1.1 Global Steam Turbine MRO Revenue by Player (2020-2025)
3.1.2 Global Steam Turbine MRO Revenue Market Share by Player (2020-2025)
3.2 Global Steam Turbine MRO Key Players Head office and Products Offered
3.3 Market Concentration Rate Analysis
3.3.1 Competition Landscape Analysis
3.3.2 Concentration Ratio (CR3, CR5 and CR10) & (2023-2025)
3.4 New Products and Potential Entrants
3.5 Mergers & Acquisitions, Expansion
4 Steam Turbine MRO by Region
4.1 Steam Turbine MRO Market Size by Region (2020-2025)
4.2 Global Steam Turbine MRO Annual Revenue by Country/Region (2020-2025)
4.3 Americas Steam Turbine MRO Market Size Growth (2020-2025)
4.4 APAC Steam Turbine MRO Market Size Growth (2020-2025)
4.5 Europe Steam Turbine MRO Market Size Growth (2020-2025)
4.6 Middle East & Africa Steam Turbine MRO Market Size Growth (2020-2025)
5 Americas
5.1 Americas Steam Turbine MRO Market Size by Country (2020-2025)
5.2 Americas Steam Turbine MRO Market Size by Type (2020-2025)
5.3 Americas Steam Turbine MRO Market Size by Application (2020-2025)
5.4 United States
5.5 Canada
5.6 Mexico
5.7 Brazil
6 APAC
6.1 APAC Steam Turbine MRO Market Size by Region (2020-2025)
6.2 APAC Steam Turbine MRO Market Size by Type (2020-2025)
6.3 APAC Steam Turbine MRO Market Size by Application (2020-2025)
6.4 China
6.5 Japan
6.6 South Korea
6.7 Southeast Asia
6.8 India
6.9 Australia
7 Europe
7.1 Europe Steam Turbine MRO Market Size by Country (2020-2025)
7.2 Europe Steam Turbine MRO Market Size by Type (2020-2025)
7.3 Europe Steam Turbine MRO Market Size by Application (2020-2025)
7.4 Germany
7.5 France
7.6 UK
7.7 Italy
7.8 Russia
8 Middle East & Africa
8.1 Middle East & Africa Steam Turbine MRO by Region (2020-2025)
8.2 Middle East & Africa Steam Turbine MRO Market Size by Type (2020-2025)
8.3 Middle East & Africa Steam Turbine MRO Market Size by Application (2020-2025)
8.4 Egypt
8.5 South Africa
8.6 Israel
8.7 Turkey
8.8 GCC Countries
9 Market Drivers, Challenges and Trends
9.1 Market Drivers & Growth Opportunities
9.2 Market Challenges & Risks
9.3 Industry Trends
10 Global Steam Turbine MRO Market Forecast
10.1 Global Steam Turbine MRO Forecast by Region (2026-2031)
10.1.1 Global Steam Turbine MRO Forecast by Region (2026-2031)
10.1.2 Americas Steam Turbine MRO Forecast
10.1.3 APAC Steam Turbine MRO Forecast
10.1.4 Europe Steam Turbine MRO Forecast
10.1.5 Middle East & Africa Steam Turbine MRO Forecast
10.2 Americas Steam Turbine MRO Forecast by Country (2026-2031)
10.2.1 United States Market Steam Turbine MRO Forecast
10.2.2 Canada Market Steam Turbine MRO Forecast
10.2.3 Mexico Market Steam Turbine MRO Forecast
10.2.4 Brazil Market Steam Turbine MRO Forecast
10.3 APAC Steam Turbine MRO Forecast by Region (2026-2031)
10.3.1 China Steam Turbine MRO Market Forecast
10.3.2 Japan Market Steam Turbine MRO Forecast
10.3.3 Korea Market Steam Turbine MRO Forecast
10.3.4 Southeast Asia Market Steam Turbine MRO Forecast
10.3.5 India Market Steam Turbine MRO Forecast
10.3.6 Australia Market Steam Turbine MRO Forecast
10.4 Europe Steam Turbine MRO Forecast by Country (2026-2031)
10.4.1 Germany Market Steam Turbine MRO Forecast
10.4.2 France Market Steam Turbine MRO Forecast
10.4.3 UK Market Steam Turbine MRO Forecast
10.4.4 Italy Market Steam Turbine MRO Forecast
10.4.5 Russia Market Steam Turbine MRO Forecast
10.5 Middle East & Africa Steam Turbine MRO Forecast by Region (2026-2031)
10.5.1 Egypt Market Steam Turbine MRO Forecast
10.5.2 South Africa Market Steam Turbine MRO Forecast
10.5.3 Israel Market Steam Turbine MRO Forecast
10.5.4 Turkey Market Steam Turbine MRO Forecast
10.6 Global Steam Turbine MRO Forecast by Type (2026-2031)
10.7 Global Steam Turbine MRO Forecast by Application (2026-2031)
10.7.1 GCC Countries Market Steam Turbine MRO Forecast
11 Key Players Analysis
11.1 General Electric
11.1.1 General Electric Company Information
11.1.2 General Electric Steam Turbine MRO Product Offered
11.1.3 General Electric Steam Turbine MRO Revenue, Gross Margin and Market Share (2020-2025)
11.1.4 General Electric Main Business Overview
11.1.5 General Electric Latest Developments
11.2 Siemens
11.2.1 Siemens Company Information
11.2.2 Siemens Steam Turbine MRO Product Offered
11.2.3 Siemens Steam Turbine MRO Revenue, Gross Margin and Market Share (2020-2025)
11.2.4 Siemens Main Business Overview
11.2.5 Siemens Latest Developments
11.3 Dongfang Electric
11.3.1 Dongfang Electric Company Information
11.3.2 Dongfang Electric Steam Turbine MRO Product Offered
11.3.3 Dongfang Electric Steam Turbine MRO Revenue, Gross Margin and Market Share (2020-2025)
11.3.4 Dongfang Electric Main Business Overview
11.3.5 Dongfang Electric Latest Developments
11.4 Shanghai Electric
11.4.1 Shanghai Electric Company Information
11.4.2 Shanghai Electric Steam Turbine MRO Product Offered
11.4.3 Shanghai Electric Steam Turbine MRO Revenue, Gross Margin and Market Share (2020-2025)
11.4.4 Shanghai Electric Main Business Overview
11.4.5 Shanghai Electric Latest Developments
11.5 MHPS
11.5.1 MHPS Company Information
11.5.2 MHPS Steam Turbine MRO Product Offered
11.5.3 MHPS Steam Turbine MRO Revenue, Gross Margin and Market Share (2020-2025)
11.5.4 MHPS Main Business Overview
11.5.5 MHPS Latest Developments
11.6 MAN Energy Solutions
11.6.1 MAN Energy Solutions Company Information
11.6.2 MAN Energy Solutions Steam Turbine MRO Product Offered
11.6.3 MAN Energy Solutions Steam Turbine MRO Revenue, Gross Margin and Market Share (2020-2025)
11.6.4 MAN Energy Solutions Main Business Overview
11.6.5 MAN Energy Solutions Latest Developments
11.7 Ebara Elliott
11.7.1 Ebara Elliott Company Information
11.7.2 Ebara Elliott Steam Turbine MRO Product Offered
11.7.3 Ebara Elliott Steam Turbine MRO Revenue, Gross Margin and Market Share (2020-2025)
11.7.4 Ebara Elliott Main Business Overview
11.7.5 Ebara Elliott Latest Developments
11.8 EthosEnergy
11.8.1 EthosEnergy Company Information
11.8.2 EthosEnergy Steam Turbine MRO Product Offered
11.8.3 EthosEnergy Steam Turbine MRO Revenue, Gross Margin and Market Share (2020-2025)
11.8.4 EthosEnergy Main Business Overview
11.8.5 EthosEnergy Latest Developments
11.9 Sulzer
11.9.1 Sulzer Company Information
11.9.2 Sulzer Steam Turbine MRO Product Offered
11.9.3 Sulzer Steam Turbine MRO Revenue, Gross Margin and Market Share (2020-2025)
11.9.4 Sulzer Main Business Overview
11.9.5 Sulzer Latest Developments
11.10 Harbin Electric
11.10.1 Harbin Electric Company Information
11.10.2 Harbin Electric Steam Turbine MRO Product Offered
11.10.3 Harbin Electric Steam Turbine MRO Revenue, Gross Margin and Market Share (2020-2025)
11.10.4 Harbin Electric Main Business Overview
11.10.5 Harbin Electric Latest Developments
11.11 Ansaldo Energia
11.11.1 Ansaldo Energia Company Information
11.11.2 Ansaldo Energia Steam Turbine MRO Product Offered
11.11.3 Ansaldo Energia Steam Turbine MRO Revenue, Gross Margin and Market Share (2020-2025)
11.11.4 Ansaldo Energia Main Business Overview
11.11.5 Ansaldo Energia Latest Developments
11.12 Toshiba Energy
11.12.1 Toshiba Energy Company Information
11.12.2 Toshiba Energy Steam Turbine MRO Product Offered
11.12.3 Toshiba Energy Steam Turbine MRO Revenue, Gross Margin and Market Share (2020-2025)
11.12.4 Toshiba Energy Main Business Overview
11.12.5 Toshiba Energy Latest Developments
11.13 Stork
11.13.1 Stork Company Information
11.13.2 Stork Steam Turbine MRO Product Offered
11.13.3 Stork Steam Turbine MRO Revenue, Gross Margin and Market Share (2020-2025)
11.13.4 Stork Main Business Overview
11.13.5 Stork Latest Developments
11.14 Hangzhou Steam Turbine
11.14.1 Hangzhou Steam Turbine Company Information
11.14.2 Hangzhou Steam Turbine Steam Turbine MRO Product Offered
11.14.3 Hangzhou Steam Turbine Steam Turbine MRO Revenue, Gross Margin and Market Share (2020-2025)
11.14.4 Hangzhou Steam Turbine Main Business Overview
11.14.5 Hangzhou Steam Turbine Latest Developments
11.15 Kawasaki Heavy Industries
11.15.1 Kawasaki Heavy Industries Company Information
11.15.2 Kawasaki Heavy Industries Steam Turbine MRO Product Offered
11.15.3 Kawasaki Heavy Industries Steam Turbine MRO Revenue, Gross Margin and Market Share (2020-2025)
11.15.4 Kawasaki Heavy Industries Main Business Overview
11.15.5 Kawasaki Heavy Industries Latest Developments
11.16 Shandong Qingneng
11.16.1 Shandong Qingneng Company Information
11.16.2 Shandong Qingneng Steam Turbine MRO Product Offered
11.16.3 Shandong Qingneng Steam Turbine MRO Revenue, Gross Margin and Market Share (2020-2025)
11.16.4 Shandong Qingneng Main Business Overview
11.16.5 Shandong Qingneng Latest Developments
12 Research Findings and Conclusion

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