According to the recent study the steam turbine MRO market is projected to reach an estimated $33.8 billion by 2024, at a CAGR of 5.7% from 2020 to 2025. Growth in this market is primarily driven by increasing thermal power generation capacity in developing countries and aging fleet of steam turbines.
Browse 85 figures /
charts and 63 tables in this 144 -page report to understand trends,
opportunities and forecast in steam turbine MRO market by type of service
(maintenance, repair, and overhaul), service provider (original equipment
manufacturers, independent service providers, and in-house), plant fuel (coal,
natural gas, nuclear), capacity (less than 300 MW, 300 MW to 599 MW, and 600 MW
and above), and region (North America, Europe, Asia Pacific, and the Rest of
the World).
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view detailed Table of Content by clicking on below link – https://www.lucintel.com/steam-turbine-mro-market.aspx
“Original equipment manufacturers market is expected to remain the
largest segment during the forecast period.”
Based on service
provider, the steam turbine MRO market is segmented into original equipment
manufacturers, independent service providers, and in-house. Lucintel forecasts
that the original equipment manufacturers is expected to witness the largest
segment over the forecast period and witness the highest growth during the
forecast period due to long-term service agreements between OEMs and power
producers.
“Within the steam turbine
MRO market, the coal segment is expected to remain the largest plant fuel.”
Based on plant fuel, the
coal segment is expected to witness the largest end use industry over the
forecast period and MRO services for nuclear energy based power plant is
expected to witness the highest growth over the forecast period supported by
its growing installation base.
“Asia Pacific will dominate the steam turbine MRO market in near
future.”
Asia Pacific is expected
to be the largest region over the forecast period and witness the highest growth
over the forecast period due to increasing fleet of aging turbines and growth in the
commissioning of thermal power plants in the region.
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Major players of steam turbine
MRO market are adopting various growth strategies like new product launches,
expansions, merger and acquisitions, partnerships, agreements, and
collaborations to expand their presence in this market. GE, Siemens, Shanghai
Electric, MHI, Harbin Electric, Dongfang Electric, and some of the ISPs such as
Sulzer, Stork Turbo Services, and Wood Group and others are among the major steam
turbine MRO providers.
This unique research
report will enable you to make confident business decisions in this globally
competitive marketplace. For a detailed table of contents, contact Lucintel at
+1-972-636-5056 or click on this link https://www.lucintel.com/steam-turbine-mro-market.aspx or helpdesk@lucintel.com.
About Lucintel
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solutions for you growth through game changer ideas and robust market &
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and the Financial Times. For further information, visit www.lucintel.com.
Contact:
Brandon Fitzgerald
Lucintel
Dallas, Texas, USA
Email: brandon.fitzgerald@lucintel.com
Tel. 972.636.5056
Cell: 303.775.0751
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