Russia Steam Turbine Market Size & Outlook, 2022-2030
- Energy & Power
- Power Generation
- Steam Turbine Market Outlook
- Power Generation
Russia Steam Turbine Market, 2018-2030 (US$M)
Global Market
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Russia steam turbine market highlights
- The Russia steam turbine market generated a revenue of USD 392.2 million in 2022 and is expected to reach USD 406.5 million by 2030.
- The Russia market is expected to grow at a CAGR of 0.5% 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 392.2 million |
| Market revenue in 2030 | USD 406.5 million |
| Growth rate | 0.5% (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, Russia accounted for 2.4% 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 Europe, Russia steam turbine market is projected to lead the regional market in terms of revenue in 2030.
- Russia is the fastest growing regional market in Europe and is projected to reach USD 406.5 million by 2030.
The demand for power and heat is rapidly increasing in the country, thereby pushing the limits of current production throughout the country. Moreover, high-energy industrial users in the country takes into account the value of onsite power generation and self-generation in wake of rising electricity prices and concerns related to the uninterrupted and secure power supply.
Surging electricity prices and growing concerns related to power supply security have led industrial power users in the country to develop their onsite power and CHP plants. Onsite generation is known as a highly profitable option to improve the energy efficiency of industries and cater to their power supply requirements.
Industries in Russia are particularly carrying out CHP production owing to the easy availability of significant industrial heat loads. Such factors are anticipated to lead to the growth of the market for steam turbines in Russia during the forecast period.
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Steam Turbine Market Scope
Steam Turbine Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Mitsubishi Electric Corp | View profile | 149,134 | Tokyo Building, 2-7-3, Marunouchi, Chiyoda-ku, Tokyo, Japan, 100-8310 | www.mitsubishielectric.com |
| Siemens AG | View profile | 321,000 | Werner-von-Siemens-Strabe 1, Munich, BY, Germany, 80333 | www.siemens.com |
| GE Aerospace | View profile | 125,000 | One Financial Center, Suite 3700, Boston, MA, United States, 02111 | www.geaerospace.com |
| Kawasaki Heavy Industries Ltd | View profile | 38,254 | Kobe Crystal Tower, 1-3, Higashikawasaki-cho 1-chome, Chuo-ku, Kobe, Japan, 650-8680 | www.khi.co.jp |
| Toshiba Corporation | View profile | 10001+ | Tokyo, Tokyo, Japan, Asia | www.toshiba.com/tai/ |
| Ebara Corp | View profile | 19,629 | 11-1, Haneda Asahi-cho, Ohta-ku, Tokyo, Japan, 144-8510 | www.ebara.co.jp |
| Ansaldo Energia | View profile | 1001-5000 | Podere Liguria, Emilia-Romagna, Italy, Europe | www.ansaldoenergia.com/ |
| Doosan Heavy Industries & Construction | View profile | 5001-10000 | Changwon, Kyongsang-namdo, South Korea, Asia | www.doosanheavy.com/ |
| Fuji Electric | View profile | 10001+ | Tokyo, Tokyo, Japan, Asia | www.fujielectric.com |
| ManpowerGroup Inc | View profile | 27,900 | 100 Manpower Place, Milwaukee, WI, United States, 53212 | www.manpowergroup.com |
Russia 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 Outlook will help companies and investors design strategic landscapes.
More Than 300 Mw was the largest segment with a revenue share of 61.83% in 2022.
Horizon Databook has segmented the Russia 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 demand for power and heat is rapidly increasing in the country, thereby pushing the limits of current production throughout the country. Moreover, high-energy industrial users in the country takes into account the value of onsite power generation and self-generation in wake of rising electricity prices and concerns related to the uninterrupted and secure power supply.
Surging electricity prices and growing concerns related to power supply security have led industrial power users in the country to develop their onsite power and CHP plants. Onsite generation is known as a highly profitable option to improve the energy efficiency of industries and cater to their power supply requirements.
Industries in Russia are particularly carrying out CHP production owing to the easy availability of significant industrial heat loads. Such factors are anticipated to lead to the growth of the market for steam turbines in Russia during the forecast period.
- Russia Steam Turbine Market Capacity Outlook (Revenue, USD Million , 2018-2030)
- Upto 150 MW
- 151 to 300 MW
- More than 300 MW
- Russia Steam Turbine Market End-use Outlook (Revenue, USD Million , 2018-2030)
- Power & Utility
- Industrial
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Horizon Databook provides a detailed overview of country-level data and insights on the Russia Steam Turbine Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into Russia Steam Turbine Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Russia Steam Turbine Market, 2018-2030 (US$M)
Russia steam turbine market statistics, by capacity, 2018-2030 (US$M)
