India Steam Turbine Market Size & Outlook, 2022-2030
India steam turbine market, 2018-2030 (US$M)
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India steam turbine market highlights
- The India steam turbine market generated a revenue of USD 3,325.0 million in 2022 and is expected to reach USD 4,376.1 million by 2030.
- The India market is expected to grow at a CAGR of 3.5% 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.
Steam turbine market data book summary
| Market revenue in 2022 | USD 3,325.0 million |
| Market revenue in 2030 | USD 4,376.1 million |
| Growth rate | 3.5% (CAGR from 2022 to 2030) |
| Largest segment | More than 300 mw |
| Fastest growing segment | 151 to 300 MW |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 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, India accounted for 20.4% of the global steam turbine market in 2022.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China steam turbine market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 4,376.1 million by 2030.
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Steam Turbine Market Scope
Steam Turbine Market Companies
| Name | Profile | # Employees | HQ | Website |
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India 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 61.18% in 2022. Horizon Databook has segmented the India 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 growth of the Indian steam turbine market is driven by the rapidly rising investments in the country's power generation infrastructure, coupled with growing concerns about environmental degradation.
Due to the abundance of coal, coal-fired power generation is increasing in the country and demand for steam turbines is expected to increase over the forecast period. In addition, the steam cycle system is easy to manage and operate and extremely durable, which, in turn, is expected to have a positive impact on the growth of the Indian steam turbine market over the next years.
The introduction of new and efficient technologies such as supercritical and ultra-supercritical coal-fired power plants to reduce pollution are expected to replace aging power plants used in the Indian power utility-based facilities.
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Horizon Databook provides a detailed overview of country-level data and insights on the India steam turbine market , including forecasts for subscribers. This country databook contains high-level insights into India steam turbine market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India steam turbine market size, by capacity, 2018-2030 (US$M)
India Steam Turbine Market Outlook Share, 2022 & 2030 (US$M)
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