Global Steam Turbine MRO Market Share Will Reach USD 35 Billion by 2026: Facts & Factors
According to the [190+ Pages] research report; the global Steam Turbine MRO Market in 2019 was approximately USD 25 Billion. The market is expected to grow at a CAGR of 6% and is anticipated to reach around USD 35 Billion by 2026. Top market players are Siemens, Wood Group, Shanghai Electric, GE, MHI, Stork Turbo Services, Harbin Electric, Sulzer, Dongfang Electric and others.
New York, NY, Feb. 08, 2021 (GLOBE NEWSWIRE) — Facts and Factors have published a new research report titled “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 Forecasts, 2020–2026” .
“According to the research study, the global Steam Turbine MRO Market was estimated at USD 25 Billion in 2019 and is expected to reach USD 35 Billion by 2026. The global Steam Turbine MRO Market is expected to grow at a compound annual growth rate (CAGR) of 6% from 2019 to 2026”.
The steam turbine MRO is the service provider focused on providing maintenance, repair, and overhaul service to the 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.
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- 2020 Updated Report Introduction, Overview, and In-depth industry analysis
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- Provide Chapter-wise guidance on Request
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- Includes Updated List of table & figures
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- Facts and Factors research methodology
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Key Questions Answered in this Report
1) What was the impact of COVID-19 on the Steam Turbine MRO Market?
2) What is the market size, share of the Steam Turbine MRO Market?
3) Who are the top market players in Steam Turbine MRO Market?
4) What will be the future market of Steam Turbine MRO Market?
Key Offerings:
- Market Size & Forecast by Revenue | 2020−2026
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by product, by types, end-user, applications, segments, and geography
- Competitive Landscape – Top key vendors and other prominent vendors
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Growing deployment of thermal power generation systems would promote market growth in China and Southeast Asian countries. Indian demand for steam turbines will also experience promising growth once the internal problems with coal reserves are resolved. The aging of the existing steam turbine plants requires ongoing maintenance is expected to fuel the demand in the years ahead. On the other hand, demand and the international pressure for clean energy are expected to shift the market from thermal power plants to solar and wind power plants, which may hinder the market growth in the forecasted period. The growing focus of China on coal-generated power is expected to create a significant opportunity for the steam turbine MRO in the forthcoming time.
Top Players in the Industry:
- Siemens
- Wood Group
- Shanghai Electric
- GE
- MHI
- Stork Turbo Services
- Harbin Electric
- Sulzer
- Dongfang Electric
To know an additional revised 2020 list of market players, request a sample report: https://www.fnfresearch.com/sample/steam-turbine-mro-market-by-service-type-maintenance-988
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. The Annual Maintenance Contracts by the Steam turbine plants expected to create significant demand for the Maintenance service in the forthcoming period. Based on service providers, the market is bifurcated as in-house, original equipment, independent service providers, and manufacturers. The technical expertise of the original equipment service providers is projected to hold a large market share in the forecasted period. Based on the plant fuel market is divided such as nuclear, coal, and natural gas. The coal fuel plants are expected to have significant demand owing to high maintenance and growing coal plants in the Asia Pacific regions. Based on Capacity, the market is further bifurcated as <300 MW, 300 MW to 599 MW, and 600 MW and above.
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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 the 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.
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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.
According to the region, the market is segmented as Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa. 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. Similarly, the focus of China to shift to the coal power plants is expected to boost the market in the forthcoming time. North America is expected to become the second-largest market followed by Europe. The ample hydrocarbon reserves in the Middle East are expected to create a favorable ecosystem for the steam turbine market. While the lower to moderate demand for energy is expected to grow the African market at a moderate pace.
Browse the full “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 Forecasts, 2020–2026″ report at https://www.fnfresearch.com/steam-turbine-mro-market-by-service-type-maintenance-988
This report segments the Steam Turbine MRO market as follows:
Global Steam Turbine MRO Market: By Service Type Segmentation Analysis
- Repair
- Maintenance
- Overhaul
Global Steam Turbine MRO Market: By Service Provider Segmentation Analysis
- In-House
- Original Equipment
- Independent Service Providers
- Manufacturers
Global Steam Turbine MRO Market: By Plant Fuel Segmentation Analysis
- Nuclear
- Coal
- Natural Gas
Global Steam Turbine MRO Market: By Capacity Segmentation Analysis
- <300 MW
- 300 MW to 599 MW
- 600 MW and Above
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 the 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, contributing 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%
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