Steam Turbine MRO Market Share

North America Market Insights

North America steam turbine MRO market is expected to account for the largest revenue share of 33% by 2035. The growing applications in combined heat and power systems are also estimated to propel the market growth. The increasing use of steam turbines is attributed to the fact that the by-product of steam turbines generates electricity which increases the efficiency and benefits high electricity consumption of the region thereby it is estimated to propel the steam turbine MRO market growth during the forecast period. The worldwide steam turbine trade was USD 3.62 billion and was the 637th most traded item of 1218 products. The U.S. was among the top five exporters, with a worth of USD 322 million, and accounted for 9.16% of all exports. In terms of import value, Canada held a value of USD 86.4 million (2.38% share) and the U.S. was at USD 211 million inbound trade (5.81% share).

The steam turbine MRO market in the U.S. is driven by the high electricity consumption in residential and commercial sectors. As of 4^th February 2025, the hourly U.S. demand was 410,326 mega watthours (MWh), according to the EIA. Electricity demand for end users including data centers has exhibited a staggering rate, reaching 176 TWh in 2023, contributing to 4.4% of the overall electricity consumption. GPU-accelerated servers in the country, if estimated to be operating at 50% capacity, will generate roughly 580 TWh in 2028 for data center operations. This represents a forecasted 6.7% to 12.0% of electricity consumption in 2028. The hourly demand for electricity in Connecticut on 29^th January 2025 was 3,741 MWh, 1,647 MWh in Maine, 1,628 MWh in New Hampshire, 3,211 MW in Northeast Massachusetts, 1,045 MW Rhode Island, 1,903 Southeast Massachusetts, and 2,171 Western/Central Massachusetts.

Europe Market Insights

Europe region is likely to register significant growth till 2035, attributed majorly to the rising upgradation of systems to enhance power energy capacity, and the performance of turbines in the region is estimated to positively influence the steam turbine MRO market. Germany and Italy emerged as the top exporters of steam turbines with trade values of USD 516 million and USD 222 million in 2022. The United Kingdom was among the top five importers with an inbound worth of USD 183 million in 2022, finds OEC.

In October 2024, the UK produced 23.4 TWh of net electricity, a 1.2% year-over-year increase over the same month, of the previous year. Of the total electricity mix, 51.3% came from renewable sources, and 36.2% came from fossil fuels. Gas continued to be the main fossil fuel, accounting for 34.5% of the total electricity mix. As the final coal-fired power plant closed in the fall of 2024, coal's contribution fell to zero.

UK Net Electricity Production, Trade, Usage, & Loss, in October 2024 (GWh)

Source: IEA