Steam Turbine Market

Joey Moore13 Jun, 2024Other

Steam turbine market size reached US$ 25.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 35.6 Billion by 2032, exhibiting a growth rate (CAGR) of 3.5% during 2024-2032. The steam turbine market growth is driven by the increasing demand for power generation, growing industrialization and economic growth, rising renewable energy integration, rapid technological advancements, the escalating need to upgrade or replace existing steam turbines.