According to Cognitive Market Research, the global steam turbine MRO market size will be USD 23514.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 6% from 2024 to 2031.
North America held the major market share for 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.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 7054.3 million.
Asia Pacific held a 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.
Latin America had a market share of more than 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.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at 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 maintenance service type held the highest steam turbine MRO market revenue share in 2024.
