Opportunities in the steam turbine MRO market have evolved through a number of stages. Lucintel has found the future of this market to be promising; the steam turbine MRO market is expected to reach $33.8 billion by 2025 with a CAGR of 5.7%. In this market, original equipment manufacturers are the largest segment by service provider, whereas coal is largest by plant fuel. Players can benefit from the available opportunities like increasing fleet of aging turbines and growth in the commissioning of thermal power plants.
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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 some of the companies profiled in this report.
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