GENERAL ELECTRIC COMPANY signed a contract with BHEL worth USD 165 million to supply three nuclear steam turbines. Out of six units of NPCIL’s domestic nuclear program-phase 1 only three of the units are equipped with nuclear turbines where 1 to 4 units were developed at Gorakhpur, Haryana, and the remaining 5 and 6 units at Kaiga, Karnataka of India.
Ansaldo Energia S.p.A. the Italian power engineering magnate, signed a contract worth around USD 64 million with the Polish chemical company Synthos to install a new gas turbine to satisfy all different needs of customers, from producing electricity to generating heat for local district heating.
Author Credits: Payel Roy, Dhruv Bhatia
Report ID: 3326
Published Date: Apr 28, 2023
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
The major growth drivers for the market are the growing potential of thermal energy in emerging nations, and rapid industrialization and urbanization.
The market size of steam turbine MRO is anticipated to attain a CAGR of ~3% over the forecast period, i.e., 2023 â€“ 2035.
High maintenance and repair costs of steam turbines are estimated to be the growth hindering factors for the market expansion.
The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
The major players in the market are GENERAL ELECTRIC COMPANY, HYUNDAI HEAVY INDUSTRIES TURBOMACHINERY Co., Ltd., Mitsubishi Power, Ltd., Ansaldo Energia S.p.A., Elliott Group, others.
The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by plant fuel, capacity, service provider, and by region.