Global Steam Turbine Market to Hold an Aggregate Market Value of $52.27bn
The global steam turbine market registered a market value of $13.05bn in 2017. The Asia-Pacific region was the largest market for steam turbines during 2017 registering 73.2% of the global market share. Europe, Middle East, and Africa (EMEA) was the second-largest market, representing the 17.5%, followed by the Americas with 9.3%.
China to Lead the Asia-Pacific Steam Turbine Market followed
by India and Vietnam
Asia-Pacific region led the global steam turbine market in the historical period and is expected to continue holding its top position through the forecast period. In 2017, China was identified as the top country for steam turbines in terms of shipment capacity and market value, followed by India, the US, Saudi Arabia, and Vietnam. In terms of market value, China held a 30.65% share in the region in 2017, and is expected to hold 34.33% in 2022.
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