APO RESEARCH · REPORT
Steam Turbine
Steam Turbine is a device that extracts thermal energy from pressurized steam and uses it to do mechanical work on a rotating output shaft.
Product & engineering
Understand the product.
Steam Turbine is a device that extracts thermal energy from pressurized steam and uses it to do mechanical work on a rotating output shaft.
Selected research
Industry Research
Steam Turbine Industry Research Report 2026
Market perspective
Steam Turbine is a device that extracts thermal energy from pressurized steam and uses it to do mechanical work on a rotating output shaft.
Global Steam Turbine key players include GE, Siemens, MHPS, HTC, Doosan Skoda Power, etc. Global top five manufacturers hold a share over 65%.
Europe is the largest market, with a share over 35%, followed by North America and Asia-Pacific, both have a share over 55%.
Read the full market overview
In terms of product, Non-Condensing Steam Turbine is the largest segment, with a share about 60%. And in terms of application, the largest application is Power Generation, followed by Industrial, etc.
Report Scope
This report quantifies the global Steam Turbine market in revenue (US$ million) and, where applicable, sales volume (MW), using 2025 as the base year and providing annual historical and forecast data for 2021–2032.
It standardizes definitions of types and applications, harmonizes vendor attribution, and presents comparable time series by company, type, application, and region/country, including indicative price bands (US$/MW) and concentration ratios (CR5/CR10).
The outputs are intended to support strategy development, budgeting, and performance benchmarking for manufacturers, new entrants, channel partners, and investors; the report also reviews technology shifts and notable product introductions relevant to Steam Turbine.
Key Companies & Market Share Insights
This section profiles leading manufacturers, combining 2021–2025 results with a 2026–2032 outlook. It reports revenue, market share, price bands, product and application mix, regional and channel mix, and key developments (M&A, capacity additions, certifications). It also provides global revenue, average price, and—where applicable—sales volume by manufacturer, and calculates CR5/CR10 and rank changes to support comparative benchmarking.
Steam Turbine Market by Company
GE
Siemens
DEC
Shanghai Electric
HTC
Harbin Turbine Company Limited
MHPS
MAN Power Engineering
Fuji Electric
Elliott Group
Doosan
Ansaldo Energia
Kawasaki
Power Machines
Toshiba
Ansaldo
Steam Turbine Segment by Type
Condensing Steam Turbine
Non-Condensing Steam Turbine
Steam Turbine Segment by Application
Power Generation
Industrial
Others
Steam Turbine Segment by Region
North America
United States
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Spain
Netherlands
Switzerland
Sweden
Poland
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Southeast Asia
South America
Brazil
Argentina
Chile
Middle East & Africa
Egypt
South Africa
Israel
Türkiye
GCC Countries
Key Drivers & Barriers
High-impact rendering factors and drivers have been studied in this report to aid the readers to understand the general development. Moreover, the report includes restraints and challenges that may act as stumbling blocks on the way of the players. This will assist the users to be attentive and make informed decisions related to business. Specialists have also laid their focus on the upcoming business prospects.
Reasons to Buy This Report
1. This report will help the readers to understand the competition within the industries and strategies for the competitive environment to enhance the potential profit. The report also focuses on the competitive landscape of the global Steam Turbine market, and introduces in detail the market share, industry ranking, competitor ecosystem, market performance, new product development, operation situation, expansion, and acquisition. etc. of the main players, which helps the readers to identify the main competitors and deeply understand the competition pattern of the market.
2. This report will help stakeholders to understand the global industry status and trends of Steam Turbine and provides them with information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to understand competitors better and gain more insights to strengthen their position in their businesses. The competitive landscape section includes the market share and rank (in volume and value), competitor ecosystem, new product development, expansion, and acquisition.
4. This report stays updated with novel technology integration, features, and the latest developments in the market
5. This report helps stakeholders to gain insights into which regions to target globally
6. This report helps stakeholders to gain insights into the end-user perception concerning the adoption of Steam Turbine.
7. This report helps stakeholders to identify some of the key players in the market and understand their valuable contribution.
Chapter Outline
Chapter 1: Research objectives, research methods, data sources, data cross-validation;
Chapter 2: Introduces the report scope of the report, executive summary of different market segments (by region, product type, application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 3: Detailed analysis of Steam Turbine manufacturers competitive landscape, price, production and value market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product production/output, value, price, gross margin, product introduction, recent development, etc.
Chapter 5: Production/output, value of Steam Turbine by region/country. It provides a quantitative analysis of the market size and development potential of each region in the next six years.
Chapter 6: Consumption of Steam Turbine in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and production of each country in the world.
Chapter 7: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 8: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 9: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 10: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 11: The main points and conclusions of the report.
More report detail
Tables and figures
Scope & coverage.
Types
- Condensing Steam Turbine
- Non-Condensing Steam Turbine
Applications
- Power Generation
- Industrial
- Others
Companies covered
- GE
- Siemens
- DEC
- Shanghai Electric
- HTC
- Harbin Turbine Company Limited
- MHPS
- MAN Power Engineering
- Fuji Electric
- Elliott Group
- Doosan
- Ansaldo Energia
- Kawasaki
- Power Machines
- Toshiba
- Ansaldo
Inside the report.
1 Preface
- 1.1 Scope of Report
- 1.2 Reasons for Doing This Study
- 1.3 Research Methodology
- 1.4 Research Process
- 1.5 Data Source
- 1.5.1 Secondary Sources
- 1.5.2 Primary Sources
2 Market Overview
- 2.1 Product Definition
- 2.2 Steam Turbine by Type
- 2.2.1 Market Value Comparison by Type (2021 VS 2025 VS 2032) & (US$ Million)
- 2.2.2 Condensing Steam Turbine
- 2.2.3 Non-Condensing Steam Turbine
- 2.3 Steam Turbine by Application
- 2.3.1 Market Value Comparison by Application (2021 VS 2025 VS 2032) & (US$ Million)
- 2.3.2 Power Generation
- 2.3.3 Industrial
- 2.3.4 Others
- 2.4 Global Market Growth Prospects
- 2.4.1 Global Steam Turbine Production Value Estimates and Forecasts (2021-2032)
- 2.4.2 Global Steam Turbine Production Capacity Estimates and Forecasts (2021-2032)
- 2.4.3 Global Steam Turbine Production Estimates and Forecasts (2021-2032)
- 2.4.4 Global Steam Turbine Market Average Price (2021-2032)
3 Market Competitive Landscape by Manufacturers
- 3.1 Global Steam Turbine Production by Manufacturers (2021-2026)
- 3.2 Global Steam Turbine Production Value by Manufacturers (2021-2026)
- 3.3 Global Steam Turbine Average Price by Manufacturers (2021-2026)
- 3.4 Global Steam Turbine Industry Manufacturers Ranking, 2024 VS 2025 VS 2026
- 3.5 Global Steam Turbine Key Manufacturers, Manufacturing Sites & Headquarters
- 3.6 Global Steam Turbine Manufacturers, Product Type & Application
- 3.7 Global Steam Turbine Manufacturers Established Date
- 3.8 Global Steam Turbine Market CR5 and HHI
- 3.9 Global Manufacturers Mergers & Acquisition
4 Manufacturers Profiled
- 4.1 GE
- 4.1.1 GE Steam Turbine Company Information
- 4.1.2 GE Steam Turbine Business Overview
- 4.1.3 GE Steam Turbine Production, Value and Gross Margin (2021-2026)
- 4.1.4 GE Product Portfolio
- 4.1.5 GE Recent Developments
- 4.2 Siemens
- 4.2.1 Siemens Steam Turbine Company Information
- 4.2.2 Siemens Steam Turbine Business Overview
- 4.2.3 Siemens Steam Turbine Production, Value and Gross Margin (2021-2026)
- 4.2.4 Siemens Product Portfolio
- 4.2.5 Siemens Recent Developments
- 4.3 DEC
- 4.3.1 DEC Steam Turbine Company Information
- 4.3.2 DEC Steam Turbine Business Overview
- 4.3.3 DEC Steam Turbine Production, Value and Gross Margin (2021-2026)
- 4.3.4 DEC Product Portfolio
- 4.3.5 DEC Recent Developments
- 4.4 Shanghai Electric
- 4.4.1 Shanghai Electric Steam Turbine Company Information
- 4.4.2 Shanghai Electric Steam Turbine Business Overview
- 4.4.3 Shanghai Electric Steam Turbine Production, Value and Gross Margin (2021-2026)
- 4.4.4 Shanghai Electric Product Portfolio
- 4.4.5 Shanghai Electric Recent Developments
- 4.5 HTC
- 4.5.1 HTC Steam Turbine Company Information
- 4.5.2 HTC Steam Turbine Business Overview
- 4.5.3 HTC Steam Turbine Production, Value and Gross Margin (2021-2026)
- 4.5.4 HTC Product Portfolio
- 4.5.5 HTC Recent Developments
- 4.6 Harbin Turbine Company Limited
- 4.6.1 Harbin Turbine Company Limited Steam Turbine Company Information
- 4.6.2 Harbin Turbine Company Limited Steam Turbine Business Overview
- 4.6.3 Harbin Turbine Company Limited Steam Turbine Production, Value and Gross Margin (2021-2026)
- 4.6.4 Harbin Turbine Company Limited Product Portfolio
- 4.6.5 Harbin Turbine Company Limited Recent Developments
- 4.7 MHPS
- 4.7.1 MHPS Steam Turbine Company Information
- 4.7.2 MHPS Steam Turbine Business Overview
- 4.7.3 MHPS Steam Turbine Production, Value and Gross Margin (2021-2026)
- 4.7.4 MHPS Product Portfolio
- 4.7.5 MHPS Recent Developments
- 4.8 MAN Power Engineering
- 4.8.1 MAN Power Engineering Steam Turbine Company Information
- 4.8.2 MAN Power Engineering Steam Turbine Business Overview
- 4.8.3 MAN Power Engineering Steam Turbine Production, Value and Gross Margin (2021-2026)
- 4.8.4 MAN Power Engineering Product Portfolio
- 4.8.5 MAN Power Engineering Recent Developments
- 4.9 Fuji Electric
- 4.9.1 Fuji Electric Steam Turbine Company Information
- 4.9.2 Fuji Electric Steam Turbine Business Overview
- 4.9.3 Fuji Electric Steam Turbine Production, Value and Gross Margin (2021-2026)
- 4.9.4 Fuji Electric Product Portfolio
- 4.9.5 Fuji Electric Recent Developments
- 4.10 Elliott Group
- 4.10.1 Elliott Group Steam Turbine Company Information
- 4.10.2 Elliott Group Steam Turbine Business Overview
- 4.10.3 Elliott Group Steam Turbine Production, Value and Gross Margin (2021-2026)
- 4.10.4 Elliott Group Product Portfolio
- 4.10.5 Elliott Group Recent Developments
- 4.11 Doosan
- 4.11.1 Doosan Steam Turbine Company Information
- 4.11.2 Doosan Steam Turbine Business Overview
- 4.11.3 Doosan Steam Turbine Production, Value and Gross Margin (2021-2026)
- 4.11.4 Doosan Product Portfolio
- 4.11.5 Doosan Recent Developments
- 4.12 Ansaldo Energia
- 4.12.1 Ansaldo Energia Steam Turbine Company Information
- 4.12.2 Ansaldo Energia Steam Turbine Business Overview
- 4.12.3 Ansaldo Energia Steam Turbine Production, Value and Gross Margin (2021-2026)
- 4.12.4 Ansaldo Energia Product Portfolio
- 4.12.5 Ansaldo Energia Recent Developments
- 4.13 Kawasaki
- 4.13.1 Kawasaki Steam Turbine Company Information
- 4.13.2 Kawasaki Steam Turbine Business Overview
- 4.13.3 Kawasaki Steam Turbine Production, Value and Gross Margin (2021-2026)
- 4.13.4 Kawasaki Product Portfolio
- 4.13.5 Kawasaki Recent Developments
- 4.14 Power Machines
- 4.14.1 Power Machines Steam Turbine Company Information
- 4.14.2 Power Machines Steam Turbine Business Overview
- 4.14.3 Power Machines Steam Turbine Production, Value and Gross Margin (2021-2026)
- 4.14.4 Power Machines Product Portfolio
- 4.14.5 Power Machines Recent Developments
- 4.15 Toshiba
- 4.15.1 Toshiba Steam Turbine Company Information
- 4.15.2 Toshiba Steam Turbine Business Overview
- 4.15.3 Toshiba Steam Turbine Production, Value and Gross Margin (2021-2026)
- 4.15.4 Toshiba Product Portfolio
- 4.15.5 Toshiba Recent Developments
- 4.16 Ansaldo
- 4.16.1 Ansaldo Steam Turbine Company Information
- 4.16.2 Ansaldo Steam Turbine Business Overview
- 4.16.3 Ansaldo Steam Turbine Production, Value and Gross Margin (2021-2026)
- 4.16.4 Ansaldo Product Portfolio
- 4.16.5 Ansaldo Recent Developments
5 Global Steam Turbine Production by Region
- 5.1 Global Steam Turbine Production Estimates and Forecasts by Region: 2021 VS 2025 VS 2032
- 5.2 Global Steam Turbine Production by Region: 2021-2032
- 5.2.1 Global Steam Turbine Production by Region: 2021-2026
- 5.2.2 Global Steam Turbine Production Forecast by Region (2027-2032)
- 5.3 Global Steam Turbine Production Value Estimates and Forecasts by Region: 2021 VS 2025 VS 2032
- 5.4 Global Steam Turbine Production Value by Region: 2021-2032
- 5.4.1 Global Steam Turbine Production Value by Region: 2021-2026
- 5.4.2 Global Steam Turbine Production Value Forecast by Region (2027-2032)
- 5.5 Global Steam Turbine Market Price Analysis by Region (2021-2026)
- 5.6 Global Steam Turbine Production and Value, YOY Growth
- 5.6.1 North America Steam Turbine Production Value Estimates and Forecasts (2021-2032)
- 5.6.2 Europe Steam Turbine Production Value Estimates and Forecasts (2021-2032)
- 5.6.3 China Steam Turbine Production Value Estimates and Forecasts (2021-2032)
- 5.6.4 Japan Steam Turbine Production Value Estimates and Forecasts (2021-2032)
6 Global Steam Turbine Consumption by Region
- 6.1 Global Steam Turbine Consumption Estimates and Forecasts by Region: 2021 VS 2025 VS 2032
- 6.2 Global Steam Turbine Consumption by Region (2021-2032)
- 6.2.1 Global Steam Turbine Consumption by Region: 2021-2026
- 6.2.2 Global Steam Turbine Forecasted Consumption by Region (2027-2032)
- 6.3 North America
- 6.3.1 North America Steam Turbine Consumption Growth Rate by Country: 2021 VS 2025 VS 2032
- 6.3.2 North America Steam Turbine Consumption by Country (2021-2032)
- 6.3.3 United States
- 6.3.4 Canada
- 6.3.5 Mexico
- 6.4 Europe
- 6.4.1 Europe Steam Turbine Consumption Growth Rate by Country: 2021 VS 2025 VS 2032
- 6.4.2 Europe Steam Turbine Consumption by Country (2021-2032)
- 6.4.3 Germany
- 6.4.4 France
- 6.4.5 U.K.
- 6.4.6 Italy
- 6.4.7 Russia
- 6.4.8 Spain
- 6.4.9 Netherlands
- 6.4.10 Switzerland
- 6.4.11 Sweden
- 6.4.12 Poland
- 6.5 Asia Pacific
- 6.5.1 Asia Pacific Steam Turbine Consumption Growth Rate by Country: 2021 VS 2025 VS 2032
- 6.5.2 Asia Pacific Steam Turbine Consumption by Country (2021-2032)
- 6.5.3 China
- 6.5.4 Japan
- 6.5.5 South Korea
- 6.5.6 India
- 6.5.7 Australia
- 6.5.8 Taiwan
- 6.5.9 Southeast Asia
- 6.6 South America, Middle East & Africa
- 6.6.1 South America, Middle East & Africa Steam Turbine Consumption Growth Rate by Country: 2021 VS 2025 VS 2032
- 6.6.2 South America, Middle East & Africa Steam Turbine Consumption by Country (2021-2032)
- 6.6.3 Brazil
- 6.6.4 Argentina
- 6.6.5 Chile
- 6.6.6 Turkey
- 6.6.7 GCC Countries
7 Segment by Type
- 7.1 Global Steam Turbine Production by Type (2021-2032)
- 7.1.1 Global Steam Turbine Production by Type (2021-2032) & (MW)
- 7.1.2 Global Steam Turbine Production Market Share by Type (2021-2032)
- 7.2 Global Steam Turbine Production Value by Type (2021-2032)
- 7.2.1 Global Steam Turbine Production Value by Type (2021-2032) & (US$ Million)
- 7.2.2 Global Steam Turbine Production Value Market Share by Type (2021-2032)
- 7.3 Global Steam Turbine Price by Type (2021-2032)
8 Segment by Application
- 8.1 Global Steam Turbine Production by Application (2021-2032)
- 8.1.1 Global Steam Turbine Production by Application (2021-2032) & (MW)
- 8.1.2 Global Steam Turbine Production Market Share by Application (2021-2032)
- 8.2 Global Steam Turbine Production Value by Application (2021-2032)
- 8.2.1 Global Steam Turbine Production Value by Application (2021-2032) & (US$ Million)
- 8.2.2 Global Steam Turbine Production Value Market Share by Application (2021-2032)
- 8.3 Global Steam Turbine Price by Application (2021-2032)
9 Value Chain and Sales Channels Analysis of the Market
- 9.1 Steam Turbine Value Chain Analysis
- 9.1.1 Steam Turbine Key Raw Materials
- 9.1.2 Raw Materials Key Suppliers
- 9.1.3 Steam Turbine Production Mode & Process
- 9.2 Steam Turbine Sales Channels Analysis
- 9.2.1 Direct Comparison with Distribution Share
- 9.2.2 Steam Turbine Distributors
- 9.2.3 Steam Turbine Customers
10 Global Steam Turbine Analyzing Market Dynamics
- 10.1 Steam Turbine Industry Trends
- 10.2 Steam Turbine Industry Drivers
- 10.3 Steam Turbine Industry Opportunities and Challenges
- 10.4 Steam Turbine Industry Restraints
11 Report Conclusion
12 Disclaimer
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