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2022
Steam Turbine Mro Market

Steam Turbine MRO Market by Type of Service (Maintenance, Repair, Overhaul, and Spare Parts), Type of Service Provider (Original Equipment Manufacturers, Independent Service Providers, In-House), End User Industry (Power, Oil & Gas and Others) by Plant Fuel (coal, natural gas, and nuclear), and Capacity (less than 300 MW, 300 MW to 599 MW, and 600 MW and above): Global Market Trends, Opportunities and Industry Forecast, 2021-2030

A15867
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Jul 2022 | 303 Views
   
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COVID-19

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A steam turbine is a system that uses compressed steam to collect thermal energy and use it to perform mechanical work on a rotating output shaft. Steam turbines are spread all over the world and are also used to drive generators and generate electricity. Because they help the movement of ships, aircraft, and missiles. They use the pressure on the rotating blades to convert heat energy into moving water vapor. Steam turbines are very powerful, especially when compared to other engines or power generation systems. Maintenance Repair Operations can be defined as all actions aimed at maintaining or restoring an object in a certain state or in a state where it can fulfill its required functions. Measures include a combination of all technologies and appropriate administrative, management and control measures. In the steam turbine MRO market, maintenance, repair, and overhaul services are provided by original equipment manufacturers, independent service providers (ISP), and internal maintenance departments. Through long-term service contracts between original equipment manufacturers and generators, more robust growth will be achieved during next upcoming years.

Market Scope and Structure Analysis

The steam turbine MRO market is the hub of the company's manufacturing, maintenance or operation of steam turbine spare parts, equipment, consumables and other industries. The prospects of the steam turbine MRO market are broad, and the coal, natural gas and nuclear energy markets are full of opportunities.

Report Metric

Details

Market Size Available for Years

 2020–2030

 Base Year Considered

  2020

  Forecast Period

  2021–2030

  Forecast Unit

  Value (USD)

  Segments Covered

Type of Service, Type of Service provider , End-User Industry, Plant Fuel, Capacity and Region

Companies Covered

  • Ansaldo Energia
     
  • Elliott Group
     
  • GENERAL ELECTRIC
     
  • HYUNDAI HEAVY INDUSTRIES TURBOMACHINERY Co Ltd.
     
  • Kessels
     
  • Mitsubishi Power Ltd.
     
  • Shanghai Electric
     
  • Siemens
     
  • STORK
     
  • Sulzer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


COVID-19 Impact Analysis

  • The suspension of multiple projects in the consumer goods industry has had a negative impact on the demand for Steam Turbine MRO Market. Therefore, the COVID-19 pandemic has a negative impact on the world market for Steam Turbine MRO Market.
  • Several governments around the world have imposed strict restrictions on measures to limit the spread of the pandemic. 
  • Due to delays in supply chains, logistics and related disruptions, many cross-border development projects and manufacturing activities have slowed down or stopped.
  • Due to the lockdown imposed across the globe, firms are not able to sell their stock made an impact on the financial aspects of the firm.
  • The industry is suffering from labor shortages as the global stalemate reduces the production capacity of large manufacturers, leading to reduced maintenance and repairs of steam turbines in the market.
  • As coming back to the new normal many companies are working on the automation so that they can tackle such situation in future and can safeguard the business along with their employees.

Top Impacting Factors

  • The growing potential of thermal power generation in developing countries and the aging steam turbine fleet are expected to drive the growth of the steam turbine MRO market.
  • Time to time inspection and diagnosis of the steam turbine will increase the effective cost of the plant.
  • Rise in investments toward building various power plants has increased the demand for steam turbine MRO market. The expanding global thermal power plant network is creating new opportunities that are driving the demand for steam turbines MRO across industries.
  • Turbine maintenance can be predictive, preventive or planned. Compared with preventive maintenance, preventive maintenance can reduce maintenance costs. Avoid excessive wear of working equipment. Routine maintenance is regular or temporary maintenance, including lubrication, oil change, bearing inspection and similar elements results in decreasing overall maintaining cost.
  • Steam turbine manufacturers' growing interest in serving third-party equipment and original equipment, and competitive efforts to enter the Asia-Pacific market, which is a big opportunity for the steam turbine MRO market.

Market Trends

  • Today's manufacturing companies strive to shorten cycle times and maximize profits, which is why technology investment is so important. With the advancement of processing technology and the improvement of CNC skills, the need for skilled human-machine operators to control the process is decreasing. Due to this change, the quality of automation is maintained because fewer people in the factory follow the processing flow and check the final size.
  • Shifting toward coal based thermal power plant from nuclear thermal power plant which is trending in every region which results to boom in this market in upcoming time.
  • Ethos Energy provides a wide range of on-site services, including project management, skilled technicians, labor inspections, health and safety training, and factory work to assist with regular steam turbine inspections, various maintenance, overhaul or minor repairs, and complex repairs.
  • In March 2021, one of the rotor shafts was damaged due to insufficient lubrication during work in a power station of a large electricity supplier in Europe. The plant operator asked experienced Goltens engineers to evaluate the situation and determine the correct repair procedures. After inspecting the shaft ends, Goltens engineers recommend machining the shaft on site to minimize maintenance costs and generator downtime. Only one day after receiving the customer's request, Goltens began machining 530 mm shafts on site. Goltens engineers work around the clock to speed up the steam turbine repair process and minimize the installation downtime.
  • Siemens Energy services also provides OEM services for parts, field service, repairs, overhauls, inspections, and remote operational services for steam turbine.
  • HRST, Inc. is introducing new technologies to solve problems, as well as in order to inspect turbine and is now using drones as part of its routine inspections that helps in the maintenance of steam turbine.

Key Benefits of the Report

  • This study presents the analytical depiction of the Steam Turbine MRO industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the Steam Turbine MRO market share.
  • The current market is quantitatively analyzed from 2020 to 2030 to highlight the Steam Turbine MRO market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed Steam Turbine MRO market analysis based on competitive intensity and how the competition will take shape in coming years.

Key Market Segments

Segments Sub-segments
By Type of Service
  • Maintenance
  • Repair
  • Overhaul
By Type of Service Provider
  • Original Equipment Manufacturers
  • Independent Service Providers
  • In-House
By End-Use Industry
  • Power
  • Oil & Gas
  • Others
By Fuel Type
  • Coal
  • Natural gas
  • Nuclear
By Capacity
  • less than 300 MW
  • 300 MW to 599 MW
  • 600 MW and above
By REGION
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Spain
    • UK
    • Germany
    • Italy
    • France
    • Netherlands
    • Russia
    • Belgium
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Taiwan
    • Indonesia
    • Malaysia
    • Rest of Asia-Pacific
  • LAMEA
    • Brazil
    • Saudi Arabia
    • South Africa
    • Argentina
    • Colombia
    • Chile
    • UAE
    • Israel
    • Nigeria
    • Rest of LAMEA


Key Market Players

  • Ansaldo Energia
  • Elliott Group
  • GENERAL ELECTRIC
  • HYUNDAI HEAVY INDUSTRIES TURBOMACHINERY Co Ltd.
  • Kessels
  • Mitsubishi Power Ltd.
  • Shanghai Electri
  • Siemens
  • STORK
  • Sulzer
 
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