Industrial Steam Turbines Market Report 2025 (Global Edition)

Global Industrial Steam Turbines Market Report 2025 Market Size Split by Design (Reaction, Impulse), by End-use (Industrial, Utility), by Exhaust (Condensing, Non-condensing), by Technology (Steam cyc...

Industrial Steam Turbines Market Report Description

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Competitive Landscape of the Industrial Steam Turbines Market

Key players deploy strategic initiatives such as product innovations, partnerships, and mergers. Companies prioritize R&D to introduce cutting-edge reagents, ensuring a competitive edge. Robust distribution networks and adherence to quality standards amplify market presence, fostering an environment where agility and innovation define industry leaders.

Industrial Steam Turbines Industry News

• February 2019: Toshiba supplies steam turbines and generators to the United States. Toshiba Energy Systems & Solutions Corporation (Toshiba ESS) provided a 450 MW STG to Toshiba America Energy. Entergy Texas owns and manages the plant in the United States.

(Source: https://www.global.toshiba/ww/news/energy/2019/02/news-20190219-01.html )

Top Companies Market Share in Industrial Steam Turbines Industry: (In no particular order of Rank)

• Ansaldo Energia S.p.A
• Bharat Heavy Electricals Limited
• Doosan Škoda Power
• Elliot Group
• Fuji Electric Co. Ltd. 
• General Electric
• Kawasaki Heavy Industries Ltd
• MAN Energy Solutions
• Mitsubishi Power Ltd. 
• Siemens Energy
• Toshiba Corporation
• Trillium Flow Technologies
• Confidential Data
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

In terms of revenue, the North American Industrial Steam Turbines Market share was 40% of the total market

According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue due to the increasing demand for energy efficiency and sustainable power generation. Growing investments in renewable energy projects, coupled with stringent environmental regulations, are propelling the adoption of steam turbines. These turbines play a pivotal role in various industries, including power generation, chemicals, and manufacturing, contributing to the region's robust economic and industrial growth. The emphasis on clean and reliable energy sources positions industrial steam turbines as key drivers in North America's energy landscape.

Europe is the fastest-growing region due to the increasing demand for efficient and sustainable energy solutions. Growing emphasis on renewable energy sources, coupled with government initiatives to reduce carbon emissions, has led to the adoption of industrial steam turbines. These turbines play a crucial role in various industries, including power generation and manufacturing, by providing cost-effective and environmentally friendly energy solutions. The European market is expected to grow further as the region continues to prioritize clean and sustainable energy practices.

The current report Scope analyzes Industrial Steam Turbines Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Switzerland, Luxembourg, Rest of Europe)
• Asia Pacific (China, Japan, South Korea, India, Australia, Singapore, Taiwan, South East Asia, Rest of APAC)
• Latin America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East (Saudi Arabia, Turkey, UAE, Egypt, Qatar, Rest of Middle East)
• Africa (Nigeria, South Africa, Rest of Africa)

The above graph is for illustrative purposes only.

North America Industrial Steam Turbines Market Analysis

According to Cognitive Market Research, the global industrial steam turbines market size was estimated at USD XX Million, out of which North America held the major market of more than 40% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 1.4% from 2024 to 2031 due to increasing demand for sustainable energy solutions, government initiatives promoting clean energy, and the growing focus on enhancing industrial efficiency. Additionally, advancements in turbine technology and a rise in industrial activities contribute to the market's positive trajectory. According to Cognitive Market Research, biomass offers a renewable alternative, reducing reliance on fossil fuels and promoting environmental sustainability in industrial processes, thus propelling the demand for steam turbines in the region. In conclusion, North America's industrial steam turbine market is driven by lucrative opportunities for stakeholders, fostering technological advancements.

• According to Cognitive Market Research, the US had a major share in the industrial steam turbines market with a market size of USD XX million in 2024 and is projected to grow at a CAGR of 1.2% during the forecast period. The demand is amplified by the nation’s growing investments in the power sector. 
• The Canadian industrial steam turbines market had a market share of USD XX million in 2024 and is projected to grow at a CAGR of 2.2% during the forecast period. Canada's increasing energy demand and emphasis on sustainable power generation.
• The Mexican industrial steam turbine market is projected to grow at a CAGR of 1.9% during the forecast period, with a market size of USD 227.54 million in 2024.

Europe Industrial Steam Turbines Market Analysis

According to Cognitive Market Research, the global industrial steam turbines market size was estimated at USD XX Million, out of which Europe held the major market of more than 30% of the global revenue with market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 1.7% from 2024 to 2031 due to growing emphasis on renewable energy sources, coupled with government initiatives promoting clean power generation, fuels the adoption of industrial steam turbines, contributing to market expansion in the region. According to Cognitive Market Research, there is increasing demand for energy efficiency and a growing emphasis on sustainable power generation. The steam cycle, a key component, enhances overall efficiency by utilizing steam to drive turbines, contributing to the region's focus on cleaner and more efficient energy solutions. In conclusion, increasing demand for efficient power generation drives the region's industrial steam turbine market.

• The United Kingdom industrial steam turbines market had a market share of USD XX million in 2024 and is projected to grow at a CAGR of 2.5% during the forecast period. This is due to technological advancements.
• The France industrial steam turbines market is projected to grow at a CAGR of 0.9% during the forecast period with a market size of USD XX million in 2024.
• According to Cognitive Market Research, the size of the German industrial steam turbines market was valued at USD XX million in 2024 and is projected to grow at a CAGR of 1.9% during the forecast period. In Germany, industrial steam turbine sales surged due to the presence of major market players. 
• The Italian industrial steam turbine market is projected to grow at a CAGR of 1.1% during the forecast period, with a market size of USD XX million in 2024.
• The Russian industrial steam turbine market is projected to grow at a CAGR of 0.7% during the forecast period, with a market size of USD XX million in 2024.
• The Spanish industrial steam turbine market is projected to grow at a CAGR of 0.8% during the forecast period, with a market size of USD XX million in 2024.
• The Luxembourg industrial steam turbines market is projected to grow at a CAGR of 1.8% during the forecast period, with a market size of USD XX million in 2024.
• The Portuguese industrial steam turbine market is projected to grow at a CAGR of 1.5% during the forecast period, with a market size of USD XX million in 2024.
• The Greece industrial steam turbine market is projected to grow at a CAGR of 2.0% during the forecast period, with a market size of USD XX million in 2024.
• Rest of Europe industrial steam turbines market is projected to witness growth at a CAGR of 0.4% during the forecast period with a market size of USD XX million in 2024.

Asia Pacific Industrial Steam Turbines Market Analysis

According to Cognitive Market Research, the global industrial steam turbines market size was estimated at USD XX Million, out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031 due to growing demand in key sectors like power generation and manufacturing. The primary driver has increased industrialization, necessitating efficient and reliable power sources. This surge is propelling the market for industrial steam turbines in the region. According to Cognitive Market Research, there is increasing demand for efficient and environmentally friendly power generation. The condensing feature of these turbines enhances energy efficiency by utilizing steam exhaust to maximize power output, contributing to sustainable and cost-effective industrial processes in the region. In conclusion, the region's industrial steam turbine market is driven by growing industrialization.

• According to Cognitive Market Research, the China industrial steam turbines market size was valued at USD XX million in 2024 and is projected to grow at a CAGR of 4.7% during the forecast period. This is due to the nation's rapid industrialization.
• The Japan industrial steam turbines market is projected to grow at a CAGR of 3.7% during the forecast period, with a market size of USD XX million in 2024. This is due to the country's focus on expanding its industrial infrastructure.
• The Indian industrial steam turbines market had a market share of USD XX million in 2024 and is projected to grow at a CAGR of 7.0% during the forecast period. 
• The South Korea industrial steam turbines market is projected to grow at a CAGR of 4.3% during the forecast period with a market size of USD XX million in 2024.
• The Australian industrial steam turbine market is projected to grow at a CAGR of 4.9% during the forecast period, with a market size of USD XX million in 2024.
• The South East Asia industrial steam turbines market is projected to grow at a CAGR of 6.2% during the forecast period, with a market size of USD XX million in 2024.
• The Rest of Asia Pacific industrial steam turbines market is projected to grow at a CAGR of 5.0% during the forecast period with a market size of USD XX million in 2024.

South America Industrial Steam Turbines Market Analysis

According to Cognitive Market Research, the global industrial steam turbines market size was estimated at USD XX Million, out of which Latin America market of more than 5% of the global revenue with market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.6% from 2024 to 2031 due to increasing industrialization, coupled with the need for sustainable energy sources, is fueling the adoption of steam turbines, providing a robust foundation for market expansion in the region. According to Cognitive Market Research, cogeneration, also known as combined heat and power (CHP), enhances energy efficiency by producing electricity and useful heat, making it a key driver for adopting steam turbines in the region. In conclusion, the region's industrial steam turbine market is driven by the region's economic development fuels demand, positioning it as a key market for steam turbines.

• According to Cognitive Market Research, the Brazil industrial steam turbines market size was valued at USD XX million in 2024 and is projected to grow at a CAGR of 3.2% during the forecast period. Industrial steam turbine sales flourish in Brazil due to the nation's increasing investments in infrastructure and a focus on reducing carbon emissions.
• The Argentina industrial steam turbines market had a market share of USD XX million in 2024 and is projected to grow at a CAGR of 3.5% during the forecast period. The increasing demand for energy augments the demand in this nation.
• The Colombia industrial steam turbine market is projected to grow at a CAGR of 2.4% during the forecast period, with a market size of USD XX million in 2024.
• The Peru industrial steam turbine market is projected to grow at a CAGR of 2.8% during the forecast period, with a market size of USD XX million in 2024.
• The Chile industrial steam turbines market is projected to witness growth at a CAGR of 2.9% during the forecast period, with a market size of USD XX million in 2024.
• The Rest of Latin America industrial steam turbines market is projected to grow at a CAGR of 1.7% during the forecast period with a market size of USD XX million in 2024.

Middle East Industrial Steam Turbines Market Analysis

According to Cognitive Market Research, the global industrial steam turbines market size was estimated at USD XX Million, out of which Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.9% from 2024 to 2031 due to region's increasing demand for reliable and efficient power generation solutions. As MEA countries focus on infrastructure development, the demand for industrial steam turbines rises, creating opportunities for market growth in the region. According to Cognitive Market Research, geothermal energy, a prominent driver, harnesses the Earth's heat to power turbines, offering a reliable and eco-friendly alternative. This enhances energy security and reduces carbon emissions, aligning with the region's sustainability goals. In conclusion, the region's industrial steam turbine market is driven by digitization trends, increased office automation, and the region's growing focus on technology adoption.

• According to Cognitive Market Research, the GCC Countries' industrial steam turbines market size was valued at USD XX million in 2024 and is projected to grow at a CAGR of 3.7% during the forecast period. Industrial steam turbine sales flourish in the GCC Countries due to the region's increasing demand for power generation and rapid industrialization.
• The Egypt industrial steam turbine market is projected to grow at a CAGR of 3.2% during the forecast period, with a market size of USD XX million in 2024.
• The South African industrial steam turbine market is projected to grow at a CAGR of 3.9% during the forecast period, with a market size of USD XX million in 2024. Industrial steam turbine sales flourish in South Africa due to the region's government initiatives promoting sustainable energy.
• The Turkish industrial steam turbine market is projected to grow at a CAGR of 2.4% during the forecast period, with a market size of USD XX million in 2024.
• The Nigeria industrial steam turbines market is projected to grow at a CAGR of 2.0% during the forecast period, with a market size of USD XX million in 2024.
• The Rest of MEA industrial steam turbines market is projected to grow at a CAGR of 1.9% during the forecast period with a market size of USD XX million in 2024.

Industrial Steam Turbines Market Analysis

Industrial Steam Turbines Design Segment Analysis

According to Cognitive Market Research, reaction holds a prominent market share due to increasing demand for efficient power generation solutions. Reaction turbines, utilizing both kinetic and pressure energy, dominate this sector due to their ability to handle high-pressure steam, making them ideal for applications requiring large-scale power production and energy efficiency.

Impulse is the fastest-growing category over the forecast period due to the increasing utilization of the kinetic energy of steam to generate power. Their efficiency, reliability, and adaptability to various industrial applications propel market growth, meeting demands for sustainable energy solutions.

• Reaction
• Impulse

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Industrial Steam Turbines Industry. Request a Free Sample PDF!

Industrial Steam Turbines End-use Segment Analysis

According to Cognitive Market Research, industrial hold a prominent market share due to growing demand for energy-efficient solutions in various industrial sectors such as power generation, oil & gas, and manufacturing. Advancements in technology, coupled with increasing emphasis on sustainable practices, further propel market growth.

Utility is the fastest-growing category over the forecast period due to increasing demand for electricity generation in utilities. Factors such as efficiency improvements, technological advancements, and growing focus on renewable energy sources propel market growth, fostering innovation and competition within the sector.

• Industrial
  • Refinery
  • Chemical plant
  • Sugar plant
  • Pulp & paper
  • Others
• Utility

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Industrial Steam Turbines Exhaust Segment Analysis

According to Cognitive Market Research, condensing held the major market share over the forecast period due to the increasing demand for efficient power generation. Condensing turbines, a key segment, enhance overall system efficiency by recovering exhaust steam for reuse. This improves energy utilization, reduces environmental impact, and aligns with the growing focus on sustainable and eco-friendly power solutions in industrial applications.

Non-condensing is the fastest-growing category over the forecast period due to increasing demand for reliable and efficient power generation in industries. Non-condensing steam turbines, a key driver, are preferred for applications where exhaust steam cannot be condensed. They find prominence in diverse sectors, providing cost-effective solutions for power generation in environments where water availability is limited.

• Condensing
• Non-condensing

Industrial Steam Turbines Technology Segment Analysis

According to Cognitive Market Research, the steam cycle holds a prominent market share due to the growing demand for electricity and the expansion of power generation infrastructure. Steam turbines play a crucial role in power plants by converting thermal energy from steam into mechanical energy, driving generators to produce electricity. The efficiency of the steam cycle is vital for optimizing power generation and reducing environmental impact.

Cogeneration is the fastest-growing category over the forecast period as it enhances efficiency by simultaneously producing electricity and useful heat from a single energy source. This trend aligns with global efforts to optimize energy usage, making steam turbines pivotal in industrial processes for sustainable and cost-effective power generation.

• Steam cycle
• Combined cycle
• Cogeneration

Industrial Steam Turbines Capacity Segment Analysis

According to Cognitive Market Research, >3 MW - 100 MW holds a prominent market share due to increasing industry demand for reliable and efficient power generation. Growing emphasis on sustainable energy solutions and the need for enhanced operational efficiency fuels the adoption of industrial steam turbines in this power range.

>100 MW is the fastest-growing category over the forecast period due to growing energy demand and increasing focus on sustainable power generation. Rising adoption of combined heat and power (CHP) systems, technological advancements, and stringent environmental regulations drive the demand for high-capacity steam turbines, ensuring efficiency and reduced carbon emissions in large-scale industrial applications.

• <3 MW
• >3 MW - 100 MW
• >100 MW

Industrial Steam Turbines Fuel Segment Analysis

• Fossil fuel
• Biomass
• Geothermal

Author's Detail

Aarti Bagekari

Research Associate at Cognitive Market Research

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I am Aarti Bagekari, worked as a research associate with strong passion for transforming complex information into strategic insights. My strong analytical skills, coupled with a deep understanding of market dynamics and consumer behavior, empower me to identify hidden opportunities and proactively mitigate risks for clients. As a part of team, I possess a skills in data analysis, segmentation, competitive landscape.

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