Steam Turbine MRO Market Segmentation:
Plant Fuel Segment Analysis
The natural gas segment is estimated to gain the largest steam turbine MRO market share of about 38% by 2035, owing to the rising adoption of sustainable power generation. The adoption of natural gas turbines for water heating in industries is propelling the segment's expansion. The rising oil and gas industry is estimated to increase the use of small steam turbines is another factor driving growth.
Service Provider Segment Analysis
The original equipment manufacturers (OEM) segment in steam turbine MRO market is expected to garner a significant share of around 46% during the projected timeline. The segment proliferation is attributed to the long-term agreements between OEMs and power producers. The availability and use of original parts for a good value are projected to positively impact the segment growth. According to an April 2022 report by the U.S. DOE Office of Scientific and Technical Information (OSTI), OEMs such as GE, along with service providers are upgrading last stage buckets (LSBs) and packing rings with traditional manufacturing methods.
The proposed additive manufacturing (AM)-based repair is estimated to benefit steam turbine plant operators. In a typical outage steam turbine centralized power plants lose USD 150,000-USD 500,000 daily. Often, maintenance outages last 4-8 weeks. This has led to an emergent need for LSB upgrades, offering significant financial benefits to plant operators and allowing them to repair affected parts. Moreover, swapping the existing nonaffected or affected parts for higher-efficiency alternatives to upgrade overhaul in the outage window, improves maintenance and operational efficiencies.
Our in-depth analysis of the global steam turbine MRO market includes the following segments:
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Plant Fuel |
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Capacity |
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Service Provider |
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