Steam Turbine MRO Market Report 2025 (Global Edition)

Global Steam Turbine MRO Market Report 2025 Market Size Split by Capacity (Less than 300 MW, 300 MW to 600 MW, >600 MW), by Service Type (Maintenance, Repair, Overhaul), by Service Provider (Independe...

Steam Turbine MRO Market Report Description

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Steam Turbine MRO Market Insights Video

Competitive Landscape of the Steam Turbine MRO Market

The competitive landscape of the global steam turbine MRO market is characterized by the presence of several major players with extensive experience and expertise in turbine maintenance and repair services. Key players include General Electric, Siemens Energy, Mitsubishi Power, and Alstom Power, each offering a comprehensive range of services and solutions to address the diverse needs of the power generation sector. These companies leverage their advanced technological capabilities, global service networks, and strong customer relationships to maintain a competitive edge.

August 2022: AP4 Group has acquired Hughes Technical Services (HTS), a prominent independent provider of maintenance solutions for the Alstom™ range of industrial gas turbines and power generation equipment. HTS, which is now a completely owned subsidiary of AP4, will continue to be headed and managed by its founder, Gary Hughes. The merger will strengthen AP4's existing heavy-duty industrial gas and steam turbine solution-oriented platforms. (Source: https://ap4.com/ap4-group-announces-acquisition-of-hughes-technical-services/) September 2021: Siemens Energy AG, one of the world's top energy technology firms, will develop the Sun Ba Power Phase II Combined Cycle Power Plant in collaboration with its consortium partner CTCI Corporation, the largest engineering, procurement, and construction (EPC) company based in Taiwan. The project will play an essential role in Taiwan's energy transition, which intends to transition from coal and nuclear power to sustainable gas-fired power plants and renewable energy sources. The service contract comprises long-term maintenance for gas turbines, generators, steam turbines, and heat recovery steam generators for a total of 25 years. (Source: https://www.siemens-energy.com/global/en/home/press-releases/siemens-energy-supports-taiwans-energy-transition-regions-first-highly-efficient-hl.html)

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

• General Electric (U.S.)
• Siemens Energy AG (Germany)
• Mitsubishi Power (Japan)
• Ansaldo Energia (Italy)
• Toshiba Energy Systems & Solutions Corporation (Japan)
• Alstom Power (France)
• Sulzer Ltd. (Switzerland)
• MAN Energy Solutions SE (Germany)
• EthosEnergy (U.S.)
• Doosan Škoda Power (Czech Republic)
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Regional Analysis of the Steam Turbine MRO Market

Which Region Dominates the Steam Turbine MRO Market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024. It accounted for around 40% of the global revenues. This region has many outdated power production facilities, mainly coal-fired and combined-cycle plants, that require major maintenance and modifications. Moreover, the shale gas revolution has increased natural gas-fired power production capacity in North America, driving up market demand for steam turbine MRO services. Furthermore, rigorous environmental rules and incentives for renewable energy adoption encourage investment in steam turbine efficiency improvements and pollution control measures in the region.

Which Region is Expanding at the Fastest CAGR?

Asia Pacific stands out as the fastest-growing region in the steam turbine MRO market due to its robust industrialization and expanding power generation capacity. The increasing energy consumption, driven by rapid economic growth and urbanization, necessitates the maintenance and upgrading of existing steam turbines to ensure efficient and reliable operation. Besides, governments in the Asia Pacific are investing heavily in infrastructure development and modernizing their energy sectors, further fueling the market need for advanced MRO services.

The current report Scope analyzes Steam Turbine MRO 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, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Steam Turbine MRO Market

According to Cognitive Market Research, the global steam turbine MRO market size was estimated at USD 23514.2 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 9405.7 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.2% from 2024 to 2031.

• According to Cognitive Market Research, the U.S. had a major share in the steam turbine MRO market with a market size of USD 7421.1 million in 2024 and is projected to grow at a CAGR of 4% during the forecast period. The U.S. has many aging steam turbines across various industries, including power generation, oil & gas, and manufacturing.
• The Canada steam turbine MRO market had a market share of USD 1128.7 million in 2024 and is projected to grow at a CAGR of 5% over the forecast period. Canada's diverse energy mix, including hydroelectric and thermal power plants, drives the need for efficient steam turbines, leading to consistent demand for MRO services to maintain energy production levels.
• The Mexico steam turbine MRO market is projected to witness growth at a CAGR of 4.7% in the forecast period, with a market size of USD 855.9 million in 2024.

Europe Steam Turbine MRO Market

According to Cognitive Market Research, the global steam turbine MRO market size was estimated at USD 23514.2 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 7054.3 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.5% from 2024 to 2031.

• The United Kingdom steam turbine MRO market had a market share of USD 1185.1 million in 2024 and is projected to grow at a CAGR of 5.3% over the forecast period. The U.K. has stringent environmental regulations aimed at reducing emissions and improving energy efficiency. These regulations necessitate regular maintenance and upgrades of steam turbines to comply with national standards, boosting the MRO market.
• The France steam turbine MRO market is projected to witness growth at a CAGR of 3.7% in the forecast period, with a market size of USD 649 million in 2024.
• According to Cognitive Market Research, the German steam turbine MRO market size was valued at USD 1396.7 million in 2024 and is projected to grow at a CAGR of 4.7% over the forecast period. Germany is known for its engineering expertise and innovation, particularly in the field of industrial technology.
• The Italy steam turbine MRO market is projected to witness growth at a CAGR of 3.9% during the forecast period, with a market size of USD 606.7 million in 2024.
• The Russian steam turbine MRO market is projected to witness growth at a CAGR of 3.5% over the forecast period, with a market size of USD 1093.4 million in 2024.
• The Spain steam turbine MRO market is projected to witness growth at a CAGR of 3.6% during the forecast period, with a market size of USD 578.4 million in 2024.
• The Luxembourg steam turbine MRO market is projected to witness growth at a CAGR of 4.6% in the forecast period, with a market size of USD 218.7 million in 2024.
• The Portugal steam turbine MRO market is projected to witness growth at a CAGR of 4.3% over the forecast period, with a market size of USD 148.1 million in 2024.
• The Greece steam turbine MRO market is projected to witness growth at a CAGR of 4.8% in the forecast period, with a market size of USD 84.7 million in 2024.
• Rest of Europe's steam turbine MRO market is projected to witness growth at a CAGR of 3.2% during the forecast period, with a market size of USD 1093.4 million in 2024.

Asia Pacific Steam Turbine MRO Market

According to Cognitive Market Research, the global steam turbine MRO market size was estimated at USD 23514.2 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 5408.3 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8% from 2024 to 2031.

• According to Cognitive Market Research, the China steam turbine MRO market size was valued at USD 2433.7 million in 2024 and is projected to grow at a CAGR of 7.5% during the forecast period. The steam turbine MRO market surged in China due to the aging power infrastructure, rapid industrialization, and stringent environmental regulations that demand continuous maintenance and upgrades of existing turbines.
• The Japan steam turbine MRO market is projected to witness growth at a CAGR of 6.5% during the forecast period, with a market size of USD 746.3 million in 2024.
• The India steam turbine MRO market had a market share of USD 649 million in 2024 and is projected to grow at a CAGR of 9.8% over the forecast period. Indian government policies aimed at enhancing energy security and efficiency, along with investments in infrastructure development, have spurred the market need for comprehensive MRO services to support the energy and industrial sectors.
• The South Korean steam turbine MRO market is projected to witness growth at a CAGR of 7.1% during the forecast period, with a market size of USD 540.8 million in 2024.
• The Australian steam turbine MRO market is projected to witness growth at a CAGR of 7.7% during the forecast period, with a market size of USD 281.2 million in 2024.
• The South East Asia steam turbine MRO market is projected to witness growth at a CAGR of 9% in the forecast period, with a market size of USD 373.2 million in 2024.
• The Rest of Asia Pacific steam turbine MRO market is projected to witness growth at a CAGR of 7.8% in the forecast period, with a market size of USD 384 million in 2024.

South America Steam Turbine MRO Market

According to Cognitive Market Research, the global steam turbine MRO market size was estimated at USD 23514.2 Million, out of which Latin America held the market share of around 5% of the global revenue with a market size of USD 1175.7 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.4% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil steam turbine MRO market size was valued at USD 503.2 million in 2024 and is projected to grow at a CAGR of 6% during the forecast period. Steam turbine MROs flourished in Brazil due to the significant investments in expanding and modernizing its energy infrastructure, driven by the need to support its growing industrial and power generation sectors.
• Argentina's steam turbine MRO market had a market share of USD 197.5 million in 2024 and is projected to grow at a CAGR of 6.3% over the forecast period. As Argentina continues to develop its industrial sector, there is a heightened need for consistent and efficient power generation, driving the demand for MRO services to keep steam turbines in optimal condition.
• Colombia steam turbine MRO market is projected to witness growth at a CAGR of 5.2% during the forecast period, with a market size of USD 104.6 million in 2024.
• Peru steam turbine MRO market is projected to witness growth at a CAGR of 5.6% during the forecast period, with a market size of USD 96.4 million in 2024.
• Chile steam turbine MRO market is projected to witness growth at a CAGR of 5.7% during the forecast period, with a market size of USD 84.7 million in 2024.
• The Rest of Latin America's steam turbine MRO market is projected to witness growth at a CAGR of 4.5% in the forecast period, with a market size of USD 189.3 million in 2024.

Middle East Steam Turbine MRO Market

According to Cognitive Market Research, the global steam turbine MRO market size was estimated at USD 23514.2 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 470.3 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.7% from 2024 to 2031.

• The GCC Countries steam turbine MRO market is projected to witness growth at a CAGR of 6.5% in the forecast period, with a market size of USD 201.3 million in 2024. Many existing steam turbines in the GCC countries, particularly those in older power plants, require regular MRO services to ensure continued performance and reliability amidst the heavy industrial and energy demands.
• The Egypt steam turbine MRO market is projected to witness growth at a CAGR of 6% during the forecast period, with a market size of USD 49.4 million in 2024.
• The South Africa steam turbine MRO market is projected to witness growth at a CAGR of 6.7% during the forecast period, with a market size of USD 74.3 million in 2024. South African government initiatives aimed at improving energy security and efficiency, along with investments in upgrading power generation facilities, contribute to the growing need for steam turbine MRO services.
• The Turkey steam turbine MRO market is projected to witness growth at a CAGR of 5.2% over the forecast period, with a market size of USD 40.4 million in 2024.
• The Nigeria steam turbine MRO market is projected to witness growth at a CAGR of 4.8% in the forecast period, with a market size of USD 49.4 million in 2024.
• The Rest of the MEA steam turbine MRO market is projected to witness growth at a CAGR of 4.7% during the forecast period, with a market size of USD 55.5 million in 2024.

Steam Turbine MRO Market Analysis

Steam Turbine MRO Market Capacity Segment Analysis

According to Cognitive Market Research, the segment for steam turbines with a capacity of less than 300 MW dominates the steam turbine MRO market due to the large number of smaller, older turbines in operation worldwide. Many of these turbines are used in smaller power plants, industrial facilities, and cogeneration systems. The extensive deployment of such turbines over the years has led to a significant demand for maintenance, repair, and overhaul services. These smaller turbines are often critical to their respective operations, necessitating regular MRO activities to ensure reliable performance and extend their operational lifespan.

The 300 MW to 600 MW capacity category is the fastest growing in the steam turbine MRO market, owing to the increasing investment in mid-sized power plants and the upgrade of existing facilities. This segment includes turbines that are used in larger power plants and combined heat & power (CHP) systems, which are expanding due to rising energy demands and the need for more efficient power generation solutions. The growth is further fueled by technological advancements that enhance turbine performance and efficiency, making these turbines more attractive for new installations and retrofits.

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 Steam Turbine MRO Industry. Request a Free Sample PDF!

Steam Turbine MRO Market Service Type Segment Analysis

According to Cognitive Market Research, maintenance is the leading service type category in the steam turbine MRO market. This dominance is mainly due to the ongoing need for regular inspections, repairs, and minor adjustments to ensure the smooth operation and longevity of steam turbines. Routine maintenance activities, such as lubrication, calibration, and component checks, are essential for preventing unexpected failures and minimizing downtime.

The overhaul segment is the fastest-growing service type in the steam turbine MRO market. This rapid growth is driven by the rising need to upgrade and refurbish aging turbines to meet modern efficiency standards and regulatory requirements. Overhaul services involve comprehensive disassembly, inspection, and reconstruction of turbines to restore them to peak performance.

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

Steam Turbine MRO Service Provider Segment Analysis

Steam Turbine MRO Market Service Provider Segment Analysis

According to Cognitive Market Research, independent service providers are the dominating category in the steam turbine MRO market. This dominance arises from their ability to offer specialized, flexible, and often cost-effective maintenance and repair solutions compared to original equipment manufacturers (OEMs). Independent providers frequently have established networks and deep expertise in various turbine models, allowing them to deliver targeted services and quick response times.

The original equipment manufacturers (OEMs) are the fastest-growing segment in the steam turbine MRO market. This growth is primarily driven by the increasing demand for services directly from the manufacturers who supply the turbines. OEMs offer specialized knowledge, proprietary parts, and advanced diagnostic tools tailored to their specific turbine designs, ensuring high-quality and accurate maintenance and repairs.

• Independent Service Providers
• In-House
• Original Equipment Manufacturers

Steam Turbine MRO Fuel Type Segment Analysis

Steam Turbine MRO Market Fuel Type Segment Analysis

According to Cognitive Market Research, the natural gas fuel type is the leading category in the steam turbine MRO market. This dominance is attributed to the widespread use of natural gas-fired power plants, which are favored for their efficiency and lower emissions compared to coal-fired plants. Natural gas turbines are extensively deployed in both power generation and industrial applications, resulting in a high demand for maintenance, repair, and overhaul services.

The nuclear fuel type segment is the fastest-growing section in the steam turbine MRO industry. This expansion is a result of the growing recognition of nuclear energy as a reliable and carbon-free source of electricity. As nuclear power plants age and new facilities are built, there will be an increased demand for specialist MRO services to ensure the safe and effective running of the steam turbines employed in these plants.

• Coal
• Natural Gas
• Nuclear

Steam Turbine MRO End User Segment Analysis

Steam Turbine MRO Market End User Segment Analysis

According to Cognitive Market Research, the power generation sector is the dominant end-user category in the steam turbine MRO market. This prominence is due to the critical role steam turbines play in electricity production, where they are extensively used in both fossil fuel-based and renewable energy plants. The sheer volume of steam turbines operating within this sector, coupled with the need for continuous and reliable power output, drives the market demand for regular maintenance, repair, and overhaul services.

The oil & gas sector is the fastest-developing segment in the steam turbine MRO market. This rapid growth is fueled by the increasing complexity and scale of operations within the industry, where steam turbines are crucial for various processes, including refining and petrochemical production. As global energy demand rises and new oil & gas projects are initiated, the market need for reliable and efficient turbine operations becomes more critical.

• Power Generation
• Oil & Gas
• Others

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Vinayak Bali

Senior Research Analyst at Cognitive Market Research

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