Global Steam Turbine Market By Heat Source
| Label | Total | Industrial | Power And Utility |
|---|---|---|---|
| 2018 | 15804.97 USD Mn | 2230.92 USD Mn | 13574.05 USD Mn |
| 2019 | 16165.46 USD Mn | 2309.67 USD Mn | 13855.79 USD Mn |
| 2020 | 15824.51 USD Mn | 2288.21 USD Mn | 13536.3 USD Mn |
| 2021 | 16142.44 USD Mn | 2361.95 USD Mn | 13780.49 USD Mn |
| 2022 | 16543.8 USD Mn | 2449.1 USD Mn | 14094.7 USD Mn |
| 2023 | 16969.27 USD Mn | 2541.22 USD Mn | 14428.06 USD Mn |
| 2024 | 17420.19 USD Mn | 2638.61 USD Mn | 14781.59 USD Mn |
| 2025 | 17897.98 USD Mn | 2741.63 USD Mn | 15156.35 USD Mn |
| 2026 | 18404.17 USD Mn | 2850.65 USD Mn | 15553.52 USD Mn |
| 2027 | 18940.4 USD Mn | 2966.07 USD Mn | 15974.33 USD Mn |
| 2028 | 19508.44 USD Mn | 3088.32 USD Mn | 16420.12 USD Mn |
| 2029 | 20110.19 USD Mn | 3217.86 USD Mn | 16892.33 USD Mn |
| 2030 | 20747.68 USD Mn | 3355.18 USD Mn | 17392.5 USD Mn |
Data Source: Wantstats Repository
Growth Outlook
- The Global Steam Turbine Market By End User market is on a steady long-term growth path. Segment value stands at roughly USD 18404 Mn in 2026 and is projected to reach USD 20748 Mn by 2030 — a gain of about 13% over the forecast period, translating to a CAGR in the mid-single digits.
- What the regional split looks like (2026): Power And Utility leads, holding roughly 85% of segment value — the single largest regional share. Industrial is the second-largest contributor.
- By 2030, Power And Utility alone is expected to reach USD 17393 Mn, with Industrial at USD 3355 Mn.
Market Dynamics
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