Asia Pacific Steam Turbine Market Size & Outlook
Asia Pacific steam turbine market, 2018-2030 (US$M)
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Asia Pacific steam turbine market highlights
- The Asia Pacific steam turbine market generated a revenue of USD 11,613.6 million in 2022.
- The market is expected to grow at a CAGR of 3% from 2023 to 2030.
- In terms of segment, more than 300 mw was the largest revenue generating capacity in 2022.
- 151 to 300 MW is the most lucrative capacity segment registering the fastest growth during the forecast period.
- Country-wise, India is expected to register the highest CAGR from 2023 to 2030.
Asia Pacific data book summary
| Market revenue in 2022 | USD 11,613.6 million |
| Market revenue in 2030 | USD 14,670.1 million |
| Growth rate | 3% (CAGR from 2022 to 2030) |
| Largest segment | More than 300 mw |
| Fastest growing segment | 151 to 300 MW |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Upto 150 MW, 151 to 300 MW, More than 300 MW |
| Key market players worldwide | Ansaldo Energia, Doosan Heavy Industries & Construction, Ebara Corp, Fuji Electric, GE Aerospace, Kawasaki Heavy Industries Ltd, ManpowerGroup Inc, Mitsubishi Electric Corp, Siemens AG, Toshiba Corporation |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 71.4% of the global steam turbine market in 2022.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 14,670.1 million by 2030.
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Steam Turbine Market Scope
Steam Turbine Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific steam turbine market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to steam turbine market will help companies and investors design strategic landscapes.
More than 300 mw was the largest segment with a revenue share of 61.31% in 2022. Horizon Databook has segmented the Asia Pacific steam turbine market based on upto 150 mw, 151 to 300 mw, more than 300 mw covering the revenue growth of each sub-segment from 2018 to 2030.
The high growth rate of industries across China and India has driven the demand for steam turbines in these countries Asia Pacific is expected to continue to maintain its dominance in terms of both volume and value as the construction of a number of fossil and biomass power plants are under development in countries such as Indonesia, South Korea, Thailand, Bangladesh, and Japan, which will support the growth of the market.
The demand for electricity is intensifying in the region on account of growing population and rapid industrialization. This, in turn, is driving the need for the development of clean coal technology, thus boosting the demand for steam turbines.
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Target buyers of Asia Pacific steam turbine market databook
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Our clientele includes a mix of steam turbine market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific steam turbine market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific steam turbine market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific steam turbine market size, by country, 2018-2030 (US$M)
Asia Pacific Steam Turbine Market Outlook Share, 2022 & 2030 (US$M)
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