Latin America Steam Turbine Market Size & Outlook
Latin America steam turbine market, 2018-2030 (US$M)
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Latin America steam turbine market highlights
- The Latin America steam turbine market generated a revenue of USD 1,182.1 million in 2022.
- The market is expected to grow at a CAGR of 0.3% 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.
Latin America data book summary
| Market revenue in 2022 | USD 1,182.1 million |
| Market revenue in 2030 | USD 1,206.7 million |
| Growth rate | 0.3% (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, Latin America region accounted for 7.3% 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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Latin America 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 61.78% in 2022. Horizon Databook has segmented the Latin America 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.
Central & South America (CSA) accounted for a revenue share of 7.48% of steam turbine market in 2020. The growth of the market in this region declined in the past few years owing to an increase in the number of renewable electricity generation plants.
Countries in Central & South America are developing energy-based plants that increase the demand for steam turbines in the region. For instance, in June 2021, Chile announced the establishment of a thermo solar plant in the Atacama Desert, that is, the first one in Latin America.
A steam turbine of capacity 110 MW is planned to be used in the plant to absorb the heat. This heat is then to be used to generate electricity of the order of 210 MW. Such factors are expected to fuel the demand for steam turbines in Central & South America during the forecast period.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America steam turbine market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America steam turbine market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America Steam Turbine Market Outlook Share, 2022 & 2030 (US$M)
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