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Steam Turbine MRO Market Size, Share Global Analysis Report, 2020–2026
Steam Turbine MRO Market By Service Type (Maintenance, Repair, Overhaul) and By Service Provider (In-House, Original Equipment, Independent Service Providers, and Manufacturers), by Plant Fuel (Nuclear, Coal, and Natural Gas), and by Capacity (<300 MW, 300 MW to 599 MW, and 600 MW and Above): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecast 2020–2026
Industry Insights
The Steam Turbine MRO market report analyzes and notifies the industry statistics at the global as well as regional and country levels in order to acquire a thorough perspective of the entire Steam Turbine MRO market. The historical and past insights are provided for FY 2016 to FY 2019 whereas projected trends are delivered for FY 2020 to FY 2026. The quantitative and numerical data is represented in value (USD Million) from FY 2016 – 2026.
This specialized and expertise-oriented industry research report scrutinizes the technical and commercial business outlook of the Steam Turbine MRO industry. The report analyzes and declares the historical and current trends analysis of the Steam Turbine MRO industry and subsequently recommends the projected trends anticipated to be observed in the Steam Turbine MRO market during the upcoming years.
Key Insights from Primary Research
- It was recognized through primary research that the steam turbine MRO market was valued at around USD 25 Billion in 2019.
- Asia Pacific is expected to hold the largest market share of the steam turbine MRO in revenue, in 2019.
- Based on service provider-based segmentation the “Original Equipment” category, was the leading revenue-generating category in 2019.
- Based on the service type, the “Maintenance” category, contributes to the largest revenue generation.
- According to our primary respondents, the steam turbine MRO market is set to grow annually at a rate of around 6%
Key Recommendations from Analysts
- The technical expertise of the original equipment service providers is projected to hold a large market share in the forecasted period.
- The coal fuel plants are expected to have significant demand owing to high maintenance and growing coal plants in the Asia Pacific regions.
- The aging steam turbines of Asia Pacific need continuous commissioning and maintenance which is expected to create a sustainable demand for the steam turbine MRO.
- the international pressure for clean energy is expected to shift the market from thermal power plants to solar and wind power plants, which may hinder market growth in the forecasted period.
- The Annual Maintenance Contracts by the Steam turbine plants are expected to create significant demand for the Maintenance service in the forthcoming period.
Steam Turbine MRO Market Share in 2019, by Service Provider
The quantitative data is further underlined and reinforced by comprehensive qualitative data which comprises various across-the-board market dynamics. The rationales which directly or indirectly impact the Steam Turbine MRO industry are exemplified through parameters such as growth drivers, restraints, challenges, and opportunities among other impacting factors.
Throughout our research report, we have encompassed all the proven models and tools of industry analysis and extensively illustrated all the key business strategies and business models adopted in the Steam Turbine MRO industry. The report provides an all-inclusive and detailed competitive landscape prevalent in the Steam Turbine MRO market.
The report utilizes established industry analysis tools and models such as Porter’s Five Forces framework to analyze and recognize critical business strategies adopted by various stakeholders involved in the entire value chain of the Steam Turbine MRO industry. The Steam Turbine MRO market report additionally employs SWOT analysis and PESTLE analysis models for further in-depth analysis.
The report study further includes an in-depth analysis of industry players' market shares and provides an overview of leading players' market position in the Steam Turbine MRO sector. Key strategic developments in the Steam Turbine MRO market competitive landscape such as acquisitions & mergers, inaugurations of different products and services, partnerships & joint ventures, MoU agreements, VC & funding activities, R&D activities, and geographic expansion among other noteworthy activities by key players of the Steam Turbine MRO market are appropriately highlighted in the report.
The steam turbine MRO is the service provider focused on providing maintenance, repair, and overhaul service to steam turbine plants. In general, the MRO Company focuses on delivering service on the parameters such as Package instrumentation calibration/function test, Breakdown fault finding, and repair, Valve actuator calibration/function test, Borescope inspections, Control system, calibration, health care, Geometry checks, and calibrations.
The Steam Turbine MRO market research report delivers an acute valuation and taxonomy of the Steam Turbine MRO industry by practically splitting the market on the basis of different types, applications, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026. The regional segmentation of the Steam Turbine MRO industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. Further, country-wise data for the Steam Turbine MRO industry is provided for the leading economies of the world.
The steam turbine MRO market is segmented according to service, service provider, plant fuel, and capacity. Based on the service type, the market is bifurcated into Maintenance, Repair, and Overhaul. Based on service providers, the market is bifurcated into in-house, original equipment, independent service providers, and manufacturers. Based on the plant fuel market is divided such as nuclear, coal, and natural gas. Based on Capacity, the market is further bifurcated as <300 MW, 300 MW to 599 MW, and 600 MW and above.
Report Scope
Report Attribute |
Details |
Market Size in 2019 |
USD 25 Billion |
Projected Market Size in 2026 |
USD 35 Billion |
CAGR Growth Rate |
6% CAGR |
Base Year |
2019 |
Forecast Years |
2020-2026 |
Key Market Players |
Siemens, Wood Group, Shanghai Electric, GE, MHI, Stork Turbo Services, Harbin Electric, Sulzer, Dongfang Electric, and Others. |
Key Segment |
By Service Type, By Service Provider, By Plant Fuel, By Capacity, By Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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Some of the essential players operating in the Steam Turbine MRO market are as follows:
- Siemens
- Wood Group
- Shanghai Electric
- GE
- MHI
- Stork Turbo Services
- Harbin Electric
- Sulzer
- Dongfang Electric
The taxonomy of the Steam Turbine MRO industry by its scope and segmentation is as follows:
By Service Type Segmentation Analysis (Customizable)
- Repair
- Maintenance
- Overhaul
By Service Provider Segmentation Analysis (Customizable)
- In-House
- Original Equipment
- Independent Service Providers
- Manufacturers
By Plant Fuel Segmentation Analysis (Customizable)
- Nuclear
- Coal
- Natural Gas
By Capacity Segmentation Analysis (Customizable)
- <300 MW
- 300 MW to 599 MW
- 600 MW and Above
Regional Segmentation Analysis (Customizable)
- North America
- The U.S.
- Canada
- Europe
- Germany
- The UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
Table of Content
Industry Major Market Players
- Siemens
- Wood Group
- Shanghai Electric
- GE
- MHI
- Stork Turbo Services
- Harbin Electric
- Sulzer
- Dongfang Electric
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