Steam Turbine Market Size & Share Analysis - Growth Trends & Forecasts (2025-2031)

Wed, 10 Sep 2025 11:25:47 +0000

The steam turbine market is witnessing significant growth, driven by the increasing demand for efficient power generation and industrial applications. Steam turbines are rotary mechanical devices that convert thermal energy from pressurized steam into mechanical energy, which is subsequently converted into electricity. They are widely used in power plants, oil and gas industries, chemical processing plants, and marine propulsion systems. The market for steam turbines is set to expand between 2025 and 2031 due to the growing global energy demand, emphasis on cleaner power generation, technological advancements, and modernization of existing power infrastructures. The versatility, efficiency, and reliability of steam turbines make them critical components in large-scale industrial and energy-generation setups.