According to Organic Market Research, Asia-Pacific Steam Turbine Market Share was USD 14.85 billion in 2023 and the market is projected to touch USD 21.28 billion by 2032, at a CAGR of 4.6 % during the forecast period. The market is expected to witness steady growth over the next decade, driven by the region’s expanding industrial base, rising energy needs, and ongoing investments in power infrastructure.
The Asia-Pacific Steam Turbine Market Size plays a vital role in the region’s power generation sector, driven by rapid industrialization, urbanization, and increasing energy demands. Steam turbines are widely used for electricity generation in thermal power plants, as well as in various industrial applications such as chemical, oil & gas, and manufacturing sectors.
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Market Segmentation
By Plant Type
- Nuclear
- Gas
- Coal
- Other Plant Types
By Type
- Centrifugal Pump
- Dosing/Metering Pumps
- Positive Displacement Pump
- Others
By End Use
- Cosmetics
- Food
- Beverage
- Pulp & Paper
- Automotive
- Pharmaceutical
- Textile
- Water & Wastewater Treatment
- Oil & Gas
- Agriculture
- Metal & Mining
- Chemical
- Power Generation
By Capacity
- Above 40 MW
- Below 40 MW
Customization Scope
- Available upon request
Pricing
- Available upon request
Related Report
APAC Steam Turbine Market Revenue
Key Players in the Market
The major players in the market are Siemens AG, GE Power, Mitsubishi Heavy Industries, Ltd., Bharat Heavy Electricals Limited (BHEL), Shanghai Electric Group Co., Ltd., Doosan Heavy Industries & Construction Co., Ltd., Toshiba Corporation, Harbin Electric Corporation, Hitachi, Ltd., and MAN Energy Solutions SE.
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