U.K. Steam Turbine Market Size & Outlook, 2022-2030
- Energy & Power
- Power Generation
- Steam Turbine Market Outlook
- Power Generation
U.K. Steam Turbine Market, 2018-2030 (US$M)
Global Market
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UK steam turbine market highlights
- The UK steam turbine market generated a revenue of USD 65.0 million in 2022 and is expected to reach USD 67.1 million by 2030.
- The UK market is expected to grow at a CAGR of 0.4% 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 65.0 million |
| Market revenue in 2030 | USD 67.1 million |
| Growth rate | 0.4% (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, UK accounted for 0.4% 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.
Policymakers in the UK are focusing on reducing carbon emissions and carrying out energy-efficient power generation. This has resulted in the formulation and stringent implementation of various environmental and emission norms in the country.
Steam turbines are employed in industrial applications for use in CHP units. As the demand for electricity increases in the UK, the requirement for steam turbines is expected to surge significantly in the country to generate electricity.
This factor is expected to contribute to the growth of power & utility segment of steam turbines market in the UK over the forecast period. However, the replacement of coal-fired units with gas turbines is expected to hamper the demand for steam turbines in the country in the coming years.
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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 |
U.K. 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 62.15% in 2022.
Horizon Databook has segmented the U.K. 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.
Policymakers in the UK are focusing on reducing carbon emissions and carrying out energy-efficient power generation. This has resulted in the formulation and stringent implementation of various environmental and emission norms in the country.
Steam turbines are employed in industrial applications for use in CHP units. As the demand for electricity increases in the UK, the requirement for steam turbines is expected to surge significantly in the country to generate electricity.
This factor is expected to contribute to the growth of power & utility segment of steam turbines market in the UK over the forecast period. However, the replacement of coal-fired units with gas turbines is expected to hamper the demand for steam turbines in the country in the coming years.
- U.K. Steam Turbine Market Capacity Outlook (Revenue, USD Million , 2018-2030)
- Upto 150 MW
- 151 to 300 MW
- More than 300 MW
- U.K. 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 U.K. Steam Turbine Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into U.K. Steam Turbine Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
U.K. Steam Turbine Market, 2018-2030 (US$M)
UK steam turbine market statistics, by capacity, 2018-2030 (US$M)
