U.S. Steam Turbine Market Size & Outlook, 2022-2030
- Energy & Power
- Power Generation
- Steam Turbine Market Outlook
- Power Generation
U.S. Steam Turbine Market, 2018-2030 (US$M)
Global Market
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U.S. steam turbine market highlights
- The U.S. steam turbine market generated a revenue of USD 460.4 million in 2022 and is expected to reach USD 490.0 million by 2030.
- The U.S. market is expected to grow at a CAGR of 0.8% from 2023 to 2030.
- In terms of segment, 151 to 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 460.4 million |
| Market revenue in 2030 | USD 490.0 million |
| Growth rate | 0.8% (CAGR from 2022 to 2030) |
| Largest segment | 151 to 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, U.S. accounted for 2.8% 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 North America, U.S. steam turbine market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 490.0 million by 2030.
The U.S. emerged as the largest steam turbine market in North America in 2020. An increase in the number of combined-cycle natural gas plants in the country as they are reliable sources of energy is one of the prominent reasons for the rising demand for steam turbines in the U.S. Policymakers in the country are focusing on developing sustainable energy generation plants.
This is anticipated to surge the number of steam turbine installations in the U.S. in the coming years. As the demand for electricity increases across the country, the requirement for steam turbines is expected to surge significantly as these turbines help generate electricity.
This factor is expected to contribute to the growth of power & utility segment of the market in the U.S. over the forecast period. Key companies such as General Electric, Mitsubishi Power, Ltd., and Siemens Energy are focusing on improving the efficiency of their turbines by carrying out technology advancements in them.
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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.S. 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.
151 To 300 Mw was the largest segment with a revenue share of 35.86% in 2022.
Horizon Databook has segmented the U.S. 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 U.S. emerged as the largest steam turbine market in North America in 2020. An increase in the number of combined-cycle natural gas plants in the country as they are reliable sources of energy is one of the prominent reasons for the rising demand for steam turbines in the U.S. Policymakers in the country are focusing on developing sustainable energy generation plants.
This is anticipated to surge the number of steam turbine installations in the U.S. in the coming years. As the demand for electricity increases across the country, the requirement for steam turbines is expected to surge significantly as these turbines help generate electricity.
This factor is expected to contribute to the growth of power & utility segment of the market in the U.S. over the forecast period. Key companies such as General Electric, Mitsubishi Power, Ltd., and Siemens Energy are focusing on improving the efficiency of their turbines by carrying out technology advancements in them.
- U.S. Steam Turbine Market Capacity Outlook (Revenue, USD Million , 2018-2030)
- Upto 150 MW
- 151 to 300 MW
- More than 300 MW
- U.S. 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.S. Steam Turbine Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into U.S. Steam Turbine Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
U.S. Steam Turbine Market, 2018-2030 (US$M)
U.S. steam turbine market statistics, by capacity, 2018-2030 (US$M)
