세계의 증기터빈 시장 규모는 2024년에 267억 달러에 달했습니다. IMARC Group은 2033년까지 이 시장이 360억 달러에 이르며, 2025년부터 2033년에 걸쳐 3.4%의 성장률(CAGR)을 나타낼 것으로 예측했습니다.
주요 시장 성장 촉진요인 : 전력 수요 증가 및 재생 가능 에너지로의 전환
주요 시장 동향 : 배전 발전 증가 및 재생 가능 에너지 투자 증가
지리적 동향 : 급속한 산업화와 전력 수요 증가로 아시아태평양이 시장을 독점
경쟁 구도 : Arani Power Systems Limited, Doosan Skoda Power, Elliott Company(주식회사 에바라 제작소), 후지 전기 주식회사가 주요 주요 시장 기업입니다.
과제와 기회 : 치열한 경쟁과 가격 압력은 시장에 도전을 가져옵니다. 제품 기술의 급속한 혁신은 시장 성장 기회를 제공합니다.
전력 수요 증가
전력 수요 증가가 시장을 뒷받침하고 있습니다. 국제에너지기구(IEA)는 2021년 세계의 에너지 소비량이 2018년을 상회하는 4.6% 증가했다고 밝혔습니다. 증기터빈의 대부분에는 보일러가 포함되어 있으며 연료를 연소시켜 열교환기로 온수와 증기를 발생시킵니다. 미국 최대의 전력 시설의 대부분은 증기터빈을 사용하고 있습니다.
현장 발전 수요 증가
온사이트 발전 수요가 높아짐과 증기 집약형 산업에 있어서의 양호한 성장 전망으로 증기터빈의 산업용도 증가가 전망되고 있습니다. 초과 초임계압 기술의 이용 증가와 기존 발전소의 결합 사이클 시스템으로의 전환은 제품 채용을 촉진하는 2가지 중요한 요인입니다.
발전소수 증가
에너지 부족을 보완하기 위해 발전소 수 증가가 예상되고 있어 향후 몇 년간의 터빈 수요를 촉진할 것으로 예측되고 있습니다. 원천인 천연가스 복합발전소의 수가 증가하고 있는 것입니다.
The global steam turbine market size reached USD 26.7 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 36.0 Billion by 2033, exhibiting a growth rate (CAGR) of 3.4% during 2025-2033. The market is driven by the increasing demand for power generation, growing industrialization and economic growth, rising renewable energy integration, rapid technological advancements, and the escalating need to upgrade or replace existing steam turbines.
Major Market Drivers: The increasing demand for electricity and the shift towards renewable energy sources are some of the major market drivers.
Key Market Trends: The rise of distribution generation and the increasing investments in renewable energy are the market trends.
Geographical Trends: Asia Pacific is dominating the market, driven by rapid industrialization and increasing power demand.
Competitive Landscape: Arani Power Systems Limited, Doosan Skoda Power, Elliott Company (Ebara Corporation), and Fuji Electric Co. Ltd. are some of the key market players.
Challenges and Opportunities: The intense competition and price pressures are posing challenges for the market. Rapid innovations in the product technology are offering opportunities for the market to grow.
Increasing demand for electricity
The increasing demand for electricity is bolstering the market. The International Energy Agency predicts that worldwide energy consumption will increase by 4.6% in 2021, more than what it was in 2018. A steam turbine is a generator that generates mechanical or rotational energy by heating water. Steam turbines generate the majority of the world's electricity, accounting for 45% of the nation's electricity in 2021. The majority of steam turbines include a boiler, which burns fuel to generate hot water and steam in a heat exchanger. The steam then supplies power to the turbine, which, in turn, drives a generator. The majority of the United States' largest electric power facilities use steam turbines. This increasing usage of the turbine to generate electricity is driving the steam turbine market share.
Growing demand for onsite power generation
Due to growing demand for on-site power generation and favorable growth prospects in steam-intensive industries, the industrial applications of steam turbines are expected to increase. As steam turbine demand is witnessing a growth in its usage in sugar plants, refineries, pulp and paper industries, and chemical facilities, its market share will also grow. Favorable policies on expanding power generation capacity will help business dynamics meet rising electricity consumption and close the demand-supply gap. The increased use of super and ultra-supercritical technologies, as well as the conversion of existing power plants into combined cycle systems, are two significant factors driving product adoption. Rising government initiatives to establish a sustainable energy network and energy-efficient technology will energize sector dynamics even more.
Rising number of power plants
A rise in the number of power plants is expected to be commissioned to compensate for the energy shortage and this is projected to propel the demand for these turbines in the coming years. In 2022, the United States emerged as North America's largest market. One of the primary reasons for the expanding demand for these turbines in the United States is the increased number of combined-cycle natural gas plants in the country, which are reliable sources of energy. The country's policymakers are focusing on establishing sustainable energy-producing plants. This is expected to increase the number of steam turbine installations in the United States in the future years, catalyzing the steam turbine market revenue.
Condensing dominates the market
The condensing segment is the largest segment of the steam turbine market overview and it is expected to register the highest CAGR during the forecast period. The noncondensing steam turbine uses high-pressure steam and exhausts lower-pressure steam to a header. To recover condensate, the condensing turbine exhausts to a surface condenser, which is typically a large exchanger with an associated hot well and can also take the form of an air fan. Condensing steam turbines are used when steady power production and steam extraction at a specific pressure are required. Steam may be used to extract the greatest energy due to the significant enthalpy difference between its initial and final conditions. Condensing steam turbines are commonly employed for cogeneration, in which the turbine produces the central power and meets the steam needs of the process plant.
121-350 MW holds the largest share in the market
The steam turbine market report shows that 121-350 MW is leading the market in capacity range. This is due to its versatility and energy efficiency. The turbines within this range are used for generating electricity in power plants. They are mainly used in large-scale industrial applications. They can produce a large amount of power which makes them important in meeting the energy needs worldwide. Furthermore, these turbines are also integrated with renewable energy sources, which, in turn, increases their demand in the market.
Steam cycle holds the maximum share in the market
The steam turbine market forecast shows that the steam cycle is the leading segment. The steam cycle, like the PWR, is two-loop, with the primary pressurized heavy-water loop transmitting heat energy to a loop of ordinary water to generate steam. Conventional steam-cycle plants are utilized to generate energy from vapor-dominated reservoirs. Steam is extracted from the wells, cleaned to eliminate any entrained sediments, and routed directly to a steam turbine. The steam cycle also helps in converting thermal energy into mechanical energy and then into electricity.
Power generation holds the biggest share in the market
Power generation is leading the market. It is positively impacting the steam turbine market outlook. Factors such as natural gas combined cycle plants, thermal coal plants, and rising emphasis on uninterrupted power supply are expected to propel the demand for these turbines in power generation. With growing urbanization, increasing demand for energy, and rising government efforts to promote industrialization and infrastructure development activities, the need for power generation is escalating. This, in turn, is catalyzing the product demand. Furthermore, the integration of turbines with renewable energy sources further expands the market growth.
Asia Pacific leads the market, accounting for the largest steam turbine market share
The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific accounted for the largest market share.
Asia Pacific is leading the market. The region is witnessing various steam turbine market recent developments, which, in turn, are propelling the market. With the increase in worldwide power demand, proposed thermal facilities such as Bangladesh's Phulari Coal Powered Plant and India's Patratu Super-Thermal Power Plant (Coal) are expected to keep the steam turbine sector growing. China is the world's largest builder of thermal power facilities, and it already makes extensive use of steam turbines. To address the need for electricity, ultra-supercritical coal facilities like Fuyang Power Station and Huadian Laizhou Power Station were built. This, in turn, offers significant opportunities for emerging steam turbine market trends.
The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:
(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)
The steam turbine companies are heavily investing in research and development to increase their product lines, which will help the market grow even further. Some of the leading market players are also adopting strategic initiatives to expand their worldwide footprint, including new product launches, agreements, mergers and acquisitions, partnerships, increased investments, and collaboration with other companies. Competitors in the industry are also focusing on offering cost-effective turbines to expand and maintain their position in an increasingly competitive and rising market environment. Another strategy adopted by the market players in the global industry is to produce locally to reduce operating costs. The market offers steam turbine market recent opportunities for domestic and global companies. To increase their global reach and client base, key market players are also focusing on product innovation.