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Asia Pacific Steam Turbine Market Share

Report ID: GMI5819
Published Date: Nov 2024
Report Format: PDF

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Asia Pacific Steam Turbine Market Share

Asia Pacific Steam Turbine Company Market Share Analysis, 2024

The manufacturers in the market adopt several key strategies to remain competitive and meet evolving market demands. A primary focus is on technological innovation, where companies invest in research and development to enhance turbine efficiency, reliability, and environmental sustainability. Integration of advanced materials and digital monitoring systems allows for better performance and predictive maintenance. Strategic partnerships and collaborations with energy providers and industrial clients are also common, enabling the customization of solutions tailored to specific energy and operational needs.

Asia Pacific Steam Turbine Market Companies

Major players operating in the Asia Pacific steam turbine industry are:

Bharat Heavy Electricals
CTMI - Steam Turbines
Dongfang Turbine
Doosan Skoda Power
Elliott Group
Fuji Electric
General Electric
Hangzhou Steam Turbine Power Group
Howden Group
Kawasaki Heavy Industries
MAN Energy Solutions
Mitsui E&S
Mitsubishi Heavy Industries
Shin Nippon Machinery
Siemens Energy
Toshiba Corporation
Triveni Turbine
Turbotech Precision Engineering

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The Asia Pacific market for steam turbine reached USD 18.8 billion in 2024 and is estimated to grow at a 3.1% CAGR from 2025 to 2034, driven by robust industrial infrastructure expansion and initiatives to bridge the demand-supply gap.

The impulse steam turbine market is projected to exceed USD 3 billion by 2034, propelled by adoption in large-scale industries like food processing, chemicals, refineries, petrochemicals, and pulp & paper.

The market for steam turbines exceeding 100 MW is anticipated to grow at a CAGR of over 2.5% through 2034, primarily utilized in large power plants including combined cycle and thermal facilities.

China steam turbine market is set to exceed USD 12 billion by 2034, led by the rising adoption of geothermal energy and substantial additions to thermal capacity.

Key players include Bharat Heavy Electricals, CTMI - Steam Turbines, Dongfang Turbine, Doosan Skoda Power, Elliott Group, Fuji Electric, General Electric, Hangzhou Steam Turbine Power Group, Howden Group, Kawasaki Heavy Industries, MAN Energy Solutions, Mitsui E&S, Mitsubishi Heavy Industries, Shin Nippon Machinery, Siemens Energy, Toshiba Corporation, Triveni Turbine, and Turbotech Precision Engineering.