North America Steam Turbine Market Size & Outlook
North America steam turbine market, 2018-2030 (US$M)
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North America steam turbine market highlights
- The North America steam turbine market generated a revenue of USD 571.7 million in 2022.
- The market is expected to grow at a CAGR of 0.7% 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, U.S. is expected to register the highest CAGR from 2023 to 2030.
North America data book summary
| Market revenue in 2022 | USD 571.7 million |
| Market revenue in 2030 | USD 603.3 million |
| Growth rate | 0.7% (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, North America region accounted for 3.5% 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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North 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 39.69% in 2022. Horizon Databook has segmented the North 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.
Steam turbines are widely used for CHP applications in the U.S. Unlike gas turbines and reciprocating engine CHP systems wherein heat is a byproduct of the power generation process, steam turbine-based generators normally generate electricity as a byproduct of heat (steam) generation.
Steam turbines use separate heat sources and as such, fuel is not converted to electric energy by them. The energy is transferred from boilers to turbines through high-pressure steam that powers turbines and generators.
The U.S. accounted for the largest share of the overall CHP installations in North America. The number of CHP installations in the U.S. is anticipated to grow at a significant rate over the forecast period owing to various factors such as the presence of shale gas reserves in the country as natural gas is used on a large scale as fuel for CHP systems.
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America steam turbine market , including forecasts for subscribers. This continent databook contains high-level insights into North America steam turbine market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America steam turbine market size, by country, 2018-2030 (US$M)
North America Steam Turbine Market Outlook Share, 2022 & 2030 (US$M)
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