Steam Turbine MRO Market Size, Share, Trends, Growth and Forecast 2031

Report Description

Forecast Period	2027-2031
Market Size (2025)	USD 20.51 Billion
CAGR (2026-2031)	5.64%
Fastest Growing Segment	Power Generation
Largest Market	North America
Market Size (2031)	USD 28.51 Billion

Market Overview

The Global Steam Turbine MRO Market will grow from USD 20.51 Billion in 2025 to USD 28.51 Billion by 2031 at a 5.64% CAGR. Steam Turbine MRO encompasses the specialized maintenance, repair, and overhaul services required to ensure the operational reliability and extended service life of steam turbines in power generation and industrial applications. The primary drivers supporting market growth include the imperative to upgrade aging power infrastructure for enhanced efficiency and the necessity to comply with stringent environmental regulations, which force operators to optimize existing assets rather than construct new facilities. According to the World Nuclear Association, in 2024, the average age of the global operating nuclear reactor fleet was approximately 32 years, creating a sustained demand for critical life-extension services for these steam-driven systems.

Despite this robust demand, the market faces a significant challenge regarding the shortage of specialized technical labor. As the current generation of experienced engineers retires, the industry encounters a widening skills gap that threatens to delay essential maintenance projects and increase operational costs, potentially impeding the timely execution of complex MRO contracts.

Key Market Drivers

Aging Power Generation Infrastructure Requiring Life Extension is a primary force propelling the Global Steam Turbine MRO Market, as utilities increasingly opt to refurbish existing assets rather than incurring the high capital costs of new construction. This trend is particularly evident in mature economies where extending the operational timeline of coal and nuclear plants is essential for maintaining grid stability during the energy transition. Consequently, power plant operators are investing heavily in retrofitting components to ensure reliability and compliance with safety standards, directly driving the volume of maintenance contracts. According to the U.S. Energy Information Administration (EIA), in February 2024, grid operators planned to retire only 5.2 gigawatts (GW) of generating capacity in 2024, a 62% decrease compared to the previous year, underscoring the strategic shift toward prolonging the service life of aging thermal fleets.

Sustained Reliance on Thermal and Nuclear Energy for Baseload Power further solidifies the demand for specialized maintenance services, as these sources remain critical for balancing intermittent renewable energy supplies. The continuous operation of steam-driven systems in combined-cycle and nuclear facilities necessitates frequent overhaul and modernization cycles to prevent unplanned outages and optimize efficiency. This reliance is translating into substantial financial growth for major service providers in the sector. For instance, Siemens Energy reported in November 2024 that its Gas Services segment, which provides maintenance for steam and gas turbines, achieved a 28% comparable growth in orders, reaching €16.4 billion for the fiscal year. Similarly, reflecting the broader market momentum, GE Vernova announced in January 2025 that its Power services orders increased by 10% organically in 2024, driven by customers investing in their existing plants.

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Key Market Challenges

The shortage of specialized technical labor constitutes a severe impediment to the growth of the Global Steam Turbine MRO Market, effectively capping the industry's capacity to service an aging infrastructure. Steam turbine maintenance entails high-precision engineering and complex diagnostic capabilities that rely heavily on tacit, experiential knowledge accumulated over decades. As the current generation of senior engineers retires, this critical expertise is leaving the workforce faster than it can be replaced. This depletion of human capital forces service providers to extend project timelines and decline complex overhaul contracts, directly counteracting the market's potential for revenue expansion driven by upgrade demands.

This demographic contraction creates a tangible productivity deficit within the sectors most dependent on steam propulsion and generation. According to the International Energy Agency, in 2025, nuclear and grid-related professions faced a critical skills gap where workforce retirements outnumbered new entrants by a ratio of 1.7 to 1. This imbalance indicates that for every significantly experienced technician leaving the field, the industry fails to recruit a single replacement, let alone one with equivalent competence. Consequently, the market faces a structural inability to scale operations, resulting in increased asset downtime and operational risks that outweigh the financial incentives for new MRO engagements.

Key Market Trends

Retrofitting Steam Turbines for Decarbonization and Efficiency is increasingly reshaping the market as operators seek to maximize the output of carbon-neutral assets without the capital expenditure of constructing new infrastructure. Unlike standard maintenance focused solely on reliability, these sophisticated modernization projects involve redesigning blade paths and internal components to significantly boost thermodynamic performance. This allows utilities to generate additional electricity without increasing fuel consumption or exceeding thermal limits, a critical factor for nuclear and biomass facilities. According to Doosan Škoda Power, May 2024, in the 'Fortum’s Loviisa nuclear power plant turbines to be modernised' press release, the execution of such a modernization project at the Loviisa facility is projected to increase the total plant capacity by approximately 38 MW without any increase in the reactor's thermal output.

The Shift Toward Performance-Based Long-Term Service Agreements (LTSA) marks a critical evolution in the commercial landscape, transitioning from transactional repairs to outcome-based contracts where risks are shared. Project owners now demand guaranteed availability and cost predictability, prompting original equipment manufacturers to assume the operational risk of the assets through multi-year partnerships. This model aligns the service provider’s incentives with the plant’s reliability, ensuring continuous monitoring and rapid intervention to prevent downtime. According to Mitsubishi Heavy Industries, August 2024, in the 'Mitsubishi Power Receives Gas and Steam Turbine Orders for 500MW Combined Cycle Power Plant in Sarawak, Malaysia' announcement, the company secured an LTSA with PETROS to guarantee the stable operational performance of the facility's steam and gas turbine systems following their commercial commissioning.

Segmental Insights

The Power Generation segment represents the fastest-growing vertical in the Global Steam Turbine MRO Market, primarily driven by the critical need to refurbish aging thermal power infrastructure. As utility providers strive to extend the operational lifespan of existing coal and nuclear facilities, the demand for comprehensive maintenance and overhaul services has surged to ensure grid stability. Additionally, stringent emission mandates from institutions such as the U.S. Environmental Protection Agency necessitate frequent turbine retrofits to ensure compliance and improve energy efficiency. This dual focus on asset reliability and regulatory adherence positions power generation as the primary accelerator of market expansion.

Regional Insights

North America holds a dominant position in the global steam turbine MRO market due to the extensive presence of an aging power generation fleet that requires frequent life-extension services. The region focuses heavily on retrofitting existing thermal and nuclear power plants to maintain operational efficiency and grid reliability. Furthermore, stringent environmental mandates enforced by the United States Environmental Protection Agency compel utility operators to upgrade turbine components to reduce emissions. This regulatory pressure, combined with the need to modernize legacy infrastructure, drives consistent demand for maintenance and overhaul services across the industrial and utility sectors.

Recent Developments

In July 2025, EthosEnergy secured a multi-year Operations and Maintenance (O&M) agreement with the Rhode Island State Energy Center (RISEC), a 596 MW combined-cycle power plant. Under this contract, the service provider will manage the facility, which is powered by two gas turbines and one GE D11 steam turbine, ensuring grid stability for the ISO New England market. The agreement covers comprehensive services, including health, safety, and environmental compliance, as well as 24/7 remote monitoring and IT/OT support. The Chief Executive Officer of EthosEnergy highlighted that the deal reinforces their role as a trusted partner in managing critical energy infrastructure.
In October 2024, Mitsubishi Power received a turnkey contract from Star Energy Geothermal Darajat II, Limited to retrofit Unit 3 at the Darajat Geothermal Power Plant in Java, Indonesia. The company will upgrade the steam turbine and related equipment to increase the facility's power output from 121 MW to 129 MW, with completion scheduled for the fall of 2026. This project involves the installation of a new, highly efficient steam turbine designed to improve reliability and contribute to the country's renewable energy goals. The President of Mitsubishi Power Indonesia noted that the upgrade would provide a stable electricity supply while reducing carbon emissions.
In May 2024, Doosan Škoda Power signed a contract with the Finnish energy company Fortum to modernize the low-pressure turbines at the Loviisa nuclear power plant. The project, set to commence in 2026, involves renewing eight turbine housings and their internal components to extend the plant's operational lifetime and increase its total capacity by approximately 38 MW. The Head of Sales Nuclear at Doosan Škoda Power stated that the modernization would significantly improve the efficiency of electricity production without affecting the reactor's thermal output. This agreement continues the long-term cooperation between the two companies following previous high-pressure turbine upgrades.
In March 2024, Toshiba Energy Systems & Solutions Corporation received an order for the renovation of steam turbines and generators at the Olkaria I Geothermal Power Plant in Kenya. The contract, awarded by the engineering contractor SEPCOIII, involves replacing aging equipment in Units 1 through 3 to increase the output of each unit from 15 MW to 21 MW using less steam. The new steam turbines and generators are scheduled for shipment by December 2025. This renovation aims to enhance the efficiency and reliability of Kenya's oldest geothermal plant, which has been in commercial operation since 1981.

Key Market Players

Siemens Energy AG
General Electric Company
Dongfang Turbine Company Limited
Bharat Heavy Electricals Limited
Mitsubishi Power Asia Pacific Pte. Ltd.
Shanghai Electric
Harbin Electric Company Limited
Elliott Group
Sulzer Ltd
Ansaldo Energia

By Service Type	By Service Provider	By Fuel Type	By Capacity	By End-Use Industry	By Region
Maintenance Repair Overhaul	Original Equipment Manufacturers Independent Service Providers In-House	Coal Natural Gas Nuclear	Less than 300 MW 300 MW to 599 MW 600 MW and Above	Power Generation Oil and Gas Others	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global Steam Turbine MRO Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Steam Turbine MRO Market, By Service Type:

Maintenance
Repair
Overhaul

Steam Turbine MRO Market, By Service Provider:

Original Equipment Manufacturers
Independent Service Providers
In-House

Steam Turbine MRO Market, By Fuel Type:

Coal
Natural Gas
Nuclear

Steam Turbine MRO Market, By Capacity:

Less than 300 MW
300 MW to 599 MW
600 MW and Above

Steam Turbine MRO Market, By End-Use Industry:

Power Generation
Oil and Gas
Others

Steam Turbine MRO Market, By Region:

North America

United States
Canada
Mexico

Europe

France
United Kingdom
Italy
Germany
Spain

Asia Pacific

China
India
Japan
Australia
South Korea

South America

Brazil
Argentina
Colombia

Middle East & Africa

South Africa
Saudi Arabia
UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Steam Turbine MRO Market.

Available Customizations:

Global Steam Turbine MRO Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Global Steam Turbine MRO Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1. Product Overview

1.1. Market Definition

1.2. Scope of the Market

1.2.1. Markets Covered

1.2.2. Years Considered for Study

1.2.3. Key Market Segmentations

2. Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Key Industry Partners

2.4. Major Association and Secondary Sources

2.5. Forecasting Methodology

2.6. Data Triangulation & Validation

2.7. Assumptions and Limitations

3. Executive Summary

3.1. Overview of the Market

3.2. Overview of Key Market Segmentations

3.3. Overview of Key Market Players

3.4. Overview of Key Regions/Countries

3.5. Overview of Market Drivers, Challenges, Trends

4. Voice of Customer

5. Global Steam Turbine MRO Market Outlook

5.1. Market Size & Forecast

5.1.1. By Value

5.2. Market Share & Forecast

5.2.1. By Service Type (Maintenance, Repair, Overhaul)

5.2.2. By Service Provider (Original Equipment Manufacturers, Independent Service Providers, In-House)

5.2.3. By Fuel Type (Coal, Natural Gas, Nuclear)

5.2.4. By Capacity (Less than 300 MW, 300 MW to 599 MW, 600 MW and Above)

5.2.5. By End-Use Industry (Power Generation, Oil and Gas, Others)

5.2.6. By Region

5.2.7. By Company (2025)

5.3. Market Map

6. North America Steam Turbine MRO Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Service Type

6.2.2. By Service Provider

6.2.3. By Fuel Type

6.2.4. By Capacity

6.2.5. By End-Use Industry

6.2.6. By Country

6.3. North America: Country Analysis

6.3.1. United States Steam Turbine MRO Market Outlook

6.3.1.1. Market Size & Forecast

6.3.1.1.1. By Value

6.3.1.2. Market Share & Forecast

6.3.1.2.1. By Service Type

6.3.1.2.2. By Service Provider

6.3.1.2.3. By Fuel Type

6.3.1.2.4. By Capacity

6.3.1.2.5. By End-Use Industry

6.3.2. Canada Steam Turbine MRO Market Outlook

6.3.2.1. Market Size & Forecast

6.3.2.1.1. By Value

6.3.2.2. Market Share & Forecast

6.3.2.2.1. By Service Type

6.3.2.2.2. By Service Provider

6.3.2.2.3. By Fuel Type

6.3.2.2.4. By Capacity

6.3.2.2.5. By End-Use Industry

6.3.3. Mexico Steam Turbine MRO Market Outlook

6.3.3.1. Market Size & Forecast

6.3.3.1.1. By Value

6.3.3.2. Market Share & Forecast

6.3.3.2.1. By Service Type

6.3.3.2.2. By Service Provider

6.3.3.2.3. By Fuel Type

6.3.3.2.4. By Capacity

6.3.3.2.5. By End-Use Industry

7. Europe Steam Turbine MRO Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Service Type

7.2.2. By Service Provider

7.2.3. By Fuel Type

7.2.4. By Capacity

7.2.5. By End-Use Industry

7.2.6. By Country

7.3. Europe: Country Analysis

7.3.1. Germany Steam Turbine MRO Market Outlook

7.3.1.1. Market Size & Forecast

7.3.1.1.1. By Value

7.3.1.2. Market Share & Forecast

7.3.1.2.1. By Service Type

7.3.1.2.2. By Service Provider

7.3.1.2.3. By Fuel Type

7.3.1.2.4. By Capacity

7.3.1.2.5. By End-Use Industry

7.3.2. France Steam Turbine MRO Market Outlook

7.3.2.1. Market Size & Forecast

7.3.2.1.1. By Value

7.3.2.2. Market Share & Forecast

7.3.2.2.1. By Service Type

7.3.2.2.2. By Service Provider

7.3.2.2.3. By Fuel Type

7.3.2.2.4. By Capacity

7.3.2.2.5. By End-Use Industry

7.3.3. United Kingdom Steam Turbine MRO Market Outlook

7.3.3.1. Market Size & Forecast

7.3.3.1.1. By Value

7.3.3.2. Market Share & Forecast

7.3.3.2.1. By Service Type

7.3.3.2.2. By Service Provider

7.3.3.2.3. By Fuel Type

7.3.3.2.4. By Capacity

7.3.3.2.5. By End-Use Industry

7.3.4. Italy Steam Turbine MRO Market Outlook

7.3.4.1. Market Size & Forecast

7.3.4.1.1. By Value

7.3.4.2. Market Share & Forecast

7.3.4.2.1. By Service Type

7.3.4.2.2. By Service Provider

7.3.4.2.3. By Fuel Type

7.3.4.2.4. By Capacity

7.3.4.2.5. By End-Use Industry

7.3.5. Spain Steam Turbine MRO Market Outlook

7.3.5.1. Market Size & Forecast

7.3.5.1.1. By Value

7.3.5.2. Market Share & Forecast

7.3.5.2.1. By Service Type

7.3.5.2.2. By Service Provider

7.3.5.2.3. By Fuel Type

7.3.5.2.4. By Capacity

7.3.5.2.5. By End-Use Industry

8. Asia Pacific Steam Turbine MRO Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Service Type

8.2.2. By Service Provider

8.2.3. By Fuel Type

8.2.4. By Capacity

8.2.5. By End-Use Industry

8.2.6. By Country

8.3. Asia Pacific: Country Analysis

8.3.1. China Steam Turbine MRO Market Outlook

8.3.1.1. Market Size & Forecast

8.3.1.1.1. By Value

8.3.1.2. Market Share & Forecast

8.3.1.2.1. By Service Type

8.3.1.2.2. By Service Provider

8.3.1.2.3. By Fuel Type

8.3.1.2.4. By Capacity

8.3.1.2.5. By End-Use Industry

8.3.2. India Steam Turbine MRO Market Outlook

8.3.2.1. Market Size & Forecast

8.3.2.1.1. By Value

8.3.2.2. Market Share & Forecast

8.3.2.2.1. By Service Type

8.3.2.2.2. By Service Provider

8.3.2.2.3. By Fuel Type

8.3.2.2.4. By Capacity

8.3.2.2.5. By End-Use Industry

8.3.3. Japan Steam Turbine MRO Market Outlook

8.3.3.1. Market Size & Forecast

8.3.3.1.1. By Value

8.3.3.2. Market Share & Forecast

8.3.3.2.1. By Service Type

8.3.3.2.2. By Service Provider

8.3.3.2.3. By Fuel Type

8.3.3.2.4. By Capacity

8.3.3.2.5. By End-Use Industry

8.3.4. South Korea Steam Turbine MRO Market Outlook

8.3.4.1. Market Size & Forecast

8.3.4.1.1. By Value

8.3.4.2. Market Share & Forecast

8.3.4.2.1. By Service Type

8.3.4.2.2. By Service Provider

8.3.4.2.3. By Fuel Type

8.3.4.2.4. By Capacity

8.3.4.2.5. By End-Use Industry

8.3.5. Australia Steam Turbine MRO Market Outlook

8.3.5.1. Market Size & Forecast

8.3.5.1.1. By Value

8.3.5.2. Market Share & Forecast

8.3.5.2.1. By Service Type

8.3.5.2.2. By Service Provider

8.3.5.2.3. By Fuel Type

8.3.5.2.4. By Capacity

8.3.5.2.5. By End-Use Industry

9. Middle East & Africa Steam Turbine MRO Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Service Type

9.2.2. By Service Provider

9.2.3. By Fuel Type

9.2.4. By Capacity

9.2.5. By End-Use Industry

9.2.6. By Country

9.3. Middle East & Africa: Country Analysis

9.3.1. Saudi Arabia Steam Turbine MRO Market Outlook

9.3.1.1. Market Size & Forecast

9.3.1.1.1. By Value

9.3.1.2. Market Share & Forecast

9.3.1.2.1. By Service Type

9.3.1.2.2. By Service Provider

9.3.1.2.3. By Fuel Type

9.3.1.2.4. By Capacity

9.3.1.2.5. By End-Use Industry

9.3.2. UAE Steam Turbine MRO Market Outlook

9.3.2.1. Market Size & Forecast

9.3.2.1.1. By Value

9.3.2.2. Market Share & Forecast

9.3.2.2.1. By Service Type

9.3.2.2.2. By Service Provider

9.3.2.2.3. By Fuel Type

9.3.2.2.4. By Capacity

9.3.2.2.5. By End-Use Industry

9.3.3. South Africa Steam Turbine MRO Market Outlook

9.3.3.1. Market Size & Forecast

9.3.3.1.1. By Value

9.3.3.2. Market Share & Forecast

9.3.3.2.1. By Service Type

9.3.3.2.2. By Service Provider

9.3.3.2.3. By Fuel Type

9.3.3.2.4. By Capacity

9.3.3.2.5. By End-Use Industry

10. South America Steam Turbine MRO Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value

10.2. Market Share & Forecast

10.2.1. By Service Type

10.2.2. By Service Provider

10.2.3. By Fuel Type

10.2.4. By Capacity

10.2.5. By End-Use Industry

10.2.6. By Country

10.3. South America: Country Analysis

10.3.1. Brazil Steam Turbine MRO Market Outlook

10.3.1.1. Market Size & Forecast

10.3.1.1.1. By Value

10.3.1.2. Market Share & Forecast

10.3.1.2.1. By Service Type

10.3.1.2.2. By Service Provider

10.3.1.2.3. By Fuel Type

10.3.1.2.4. By Capacity

10.3.1.2.5. By End-Use Industry

10.3.2. Colombia Steam Turbine MRO Market Outlook

10.3.2.1. Market Size & Forecast

10.3.2.1.1. By Value

10.3.2.2. Market Share & Forecast

10.3.2.2.1. By Service Type

10.3.2.2.2. By Service Provider

10.3.2.2.3. By Fuel Type

10.3.2.2.4. By Capacity

10.3.2.2.5. By End-Use Industry

10.3.3. Argentina Steam Turbine MRO Market Outlook

10.3.3.1. Market Size & Forecast

10.3.3.1.1. By Value

10.3.3.2. Market Share & Forecast

10.3.3.2.1. By Service Type

10.3.3.2.2. By Service Provider

10.3.3.2.3. By Fuel Type

10.3.3.2.4. By Capacity

10.3.3.2.5. By End-Use Industry

11. Market Dynamics

11.1. Drivers

11.2. Challenges

12. Market Trends & Developments

12.1. Merger & Acquisition (If Any)

12.2. Product Launches (If Any)

12.3. Recent Developments

13. Global Steam Turbine MRO Market: SWOT Analysis

14. Porter's Five Forces Analysis

14.1. Competition in the Industry

14.2. Potential of New Entrants

14.3. Power of Suppliers

14.4. Power of Customers

14.5. Threat of Substitute Products

15. Competitive Landscape

15.1. Siemens Energy AG

15.1.1. Business Overview

15.1.2. Products & Services

15.1.3. Recent Developments

15.1.4. Key Personnel

15.1.5. SWOT Analysis

15.2. General Electric Company

15.3. Dongfang Turbine Company Limited

15.4. Bharat Heavy Electricals Limited

15.5. Mitsubishi Power Asia Pacific Pte. Ltd.

15.6. Shanghai Electric

15.7. Harbin Electric Company Limited

15.8. Elliott Group

15.9. Sulzer Ltd

15.10. Ansaldo Energia

16. Strategic Recommendations

17. About Us & Disclaimer

Report Description

Table of content

Figures and Tables

Frequently asked questions

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