Market Size in 2024 | Market Forecast in 2034 | CAGR (in %) | Base Year |
---|---|---|---|
USD 12.74 Billion | USD 16.39 Billion | 2.7% | 2024 |
FrequentlyAsked Questions
The global industrial steam turbines market is expected to grow due to growing energy demand, advancements in turbine efficiency and technology, increasing use of renewable energy sources, industrial expansion, and the need for power generation in various sectors.
According to a study, the global industrial steam turbines market size was worth around USD 12.74 Billion in 2024 and is expected to reach USD 16.39 Billion by 2034.
The global industrial steam turbines market is expected to grow at a CAGR of 2.7% during the forecast period.
Asia-Pacific is expected to dominate the industrial steam turbines market over the forecast period.
Leading players in the global industrial steam turbines market include Harbin Electric Machinery Co., Ltd., Dongfang Electric Corporation, Elliott Group, Kawasaki Heavy Industries Ltd., General Electric Company, Siemens AG, Mitsubishi Heavy Industries, Ltd., Toshiba America Energy Systems Corporation, Ansaldo Energia s.p.a, Peter Brotherhood Ltd., Fuji Electric Co., Ltd., Bharat Heavy Electricals Limited, Doosan Škoda Power, TGM Kanis Turbinen GmbH, OJSC Power Machines, among others.
The report explores crucial aspects of the industrial steam turbines market, including a detailed discussion of existing growth factors and restraints, while also examining future growth opportunities and challenges that impact the market.
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