<img src="https://ml.globenewswire.com/Resource/Download/908fb457-7f8e-4a08-9081-5565e3dfb3d7?size=2" nborder="0" align="left" hspace="5" vspace="5" title="22157.jpg" alt="Company Logo"/>The global steam turbine aftermarket market was valued at USD 12.50 billion in 2025 and is forecast to reach USD 16.02 billion by 2031, growing at a 4.22% CAGR. Growth is driven by aging coal and nuclear fleets, life-extension programs, condition-based maintenance, rising electricity demand, and cost-efficient turbine upgrades. Spare parts and consumables lead by offering, while nuclear is the fastest-growing fuel segment. Power generation and large turbines dominate demand. Asia Pacific leads the market with a 4.86% CAGR. Key players include GE Vernova, Siemens Energy, Mitsubishi Heavy Industries, Shanghai Electric, Doosan Škoda Power, BHEL, and EthosEnergy.<div style="float:right;padding:0 0 15px 20px;margin:15px 0 20px 20px;width:300px">
 Global Steam Turbine Aftermarkets Market
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 <figcaption>Global Steam Turbine Aftermarkets Market</figcaption>
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</div>Dublin, Aug. 31, 2026 <a href="https://www.globenewswire.com" target="_blank">(GLOBE NEWSWIRE)</a> -- The <a href="https://www.researchandmarkets.com/reports/6273749/global-steam-turbine-aftermarkets-market?utm_source=GNE&amp;utm_medium=PressRelease&amp;utm_code=37pfmf&amp;utm_campaign=2341706+-+Global+Steam+Turbine+Aftermarket+Market+to+Reach+USD+16.02+Billion+by+2031+as+Operators+Prioritize+Asset+Life+Extension&amp;utm_exec=clshmsai" rel="nofollow" target="_blank" title="Global Steam Turbine Aftermarkets Market Research Report 2026-2031">"Global Steam Turbine Aftermarkets Market Research Report 2026-2031"</a> has been added to ResearchAndMarkets.com's offering. <img alt="" height="400" src="//www.researchandmarkets.com/content-images/2536/2536550/1/global-steam-turbine-aftermarkets-market.png" width="600" /> The global steam turbine aftermarket market was valued at USD 12.50 billion in 2025 and is projected to reach USD 16.02 billion by 2031, expanding at a compound annual growth rate of 4.22%. Market growth is being supported by aging coal and nuclear power fleets, increasing electricity demand, condition-based maintenance adoption, and investment in steam turbine repair, refurbishment, upgrades, spare parts, and lifecycle services. Power producers and industrial operators are increasingly extending the operating lives of installed steam turbines rather than undertaking capital-intensive equipment replacement. Global Energy Monitor reports that OECD countries operate more than 200 GW of coal-fired capacity exceeding 40 years of age. This installed base is sustaining demand for rotor refurbishment, blade and seal replacement, casing repairs, control-system modernization, and major turbine overhauls. Market Trends and Growth Drivers The transition from fixed maintenance schedules to condition-based maintenance is reshaping the steam turbine aftermarket. Continuous monitoring, diagnostics, and asset analytics allow operators to identify equipment risks, optimize outage planning, reduce unplanned downtime, and prioritize high-value service work. Rising electricity consumption is also reinforcing the need for reliable thermal and nuclear generation. The International Energy Agency projects global electricity demand to increase by nearly 4% annually through 2027. At the same time, capital is shifting toward clean energy, grids, storage, and electrification. With global energy investment forecast to reach USD 3.3 trillion in 2025, owners of existing thermal assets are favoring targeted turbine efficiency improvements and life-extension programs over full replacement. Market expansion remains constrained by costly, tightly controlled outage windows, shortages of specialized technicians, and long lead times for major turbine components. The Electric Power Research Institute indicates that turbine-generator work is involved in up to 70% of planned steam power plant outages. Workforce pressure is particularly significant in the nuclear sector, where retirement rates are outpacing the entry of younger workers. Recent Steam Turbine Aftermarket Developments <ul><li>May 2025: EthosEnergy acquired Turbine Services, Ltd., expanding its access to replacement parts and strengthening its non-OEM lifecycle support capabilities.</li><li>April 2025: Siemens Energy outlined its role in recommissioning Michigan's Palisades Nuclear Power Plant, including steam turbine and generator replacement, refurbishment, and field services.</li><li>February 2025: Sulzer expanded its Vadodara Service Centre in India to increase regional capacity for steam turbine repairs, retrofits, reverse engineering, refurbishment, and parts support.</li></ul> Steam Turbine Aftermarket Segmentation Highlights Spare parts and consumables represent the largest offering segment, supported by recurring demand for turbine blades, seals, bearings, valves, gaskets, and other critical components. Scheduled outages, inventory requirements, and asset reliability programs make this segment less dependent on new turbine installations. Nuclear power is projected to record the fastest growth by fuel type. Long plant operating lives, regulated maintenance schedules, life-extension projects, and new reactor development are increasing demand for inspections, rotor and blade refurbishment, component replacement, modernization, and comprehensive lifecycle support. Power generation remains the dominant end-use industry, reflecting the essential role of steam turbines in coal, gas, and nuclear facilities. Large turbines exceeding 300 MW account for the leading capacity segment and are expected to post the strongest growth. Their importance to grid stability encourages utilities to invest in preventive maintenance, major overhauls, control upgrades, performance recovery, and long-term service programs. Regional Market Outlook Asia-Pacific is the largest and fastest-growing regional steam turbine aftermarket, with a projected CAGR of 4.86% from 2025 to 2031. Growth is supported by extensive coal-fired generation, industrial steam demand, and expanding nuclear infrastructure. China is a central market driver and accounts for nearly half of the nuclear reactors under construction worldwide, creating long-term opportunities for turbine-generator inspections, retrofits, parts, and maintenance services. North America is a high-value market supported by aging nuclear facilities, mature coal fleets, and combined-cycle gas plants. Regional operators place strong emphasis on long-term service agreements, obsolescence management, performance recovery, and turbine life extension. Canada presents a focused nuclear aftermarket opportunity as operators pursue rotor, blade-path, and control-system upgrades for existing baseload assets. Competitive Landscape The steam turbine aftermarket includes original equipment manufacturers, independent service providers, regional repair workshops, and component specialists serving utility, nuclear, combined heat and power, and industrial steam applications. Competitive strength depends on parts availability, technical expertise, outage execution, turnaround time, and the ability to restore turbine efficiency and reliability. Leading companies include GE Vernova, Siemens Energy, Mitsubishi Heavy Industries, Shanghai Electric, Doosan Skoda Power, Toshiba America Energy Systems, Bharat Heavy Electricals, Hyundai Heavy Industries Turbomachinery, Everllence, and Ansaldo Energia. Other notable participants include EthosEnergy, Sulzer, Baker Hughes, Triveni Turbine, Fuji Electric, Kawasaki Heavy Industries, Dongfang Electric, Harbin Turbine, Mechanical Dynamics &amp; Analysis, Bilfinger, Allied Power Group, and Power Services Group. The market is segmented by offering into spare parts and consumables, maintenance and repair services, upgrades and retrofits, digital solutions, and other services. Fuel categories include coal, gas, nuclear, and other sources, while major end-use sectors cover power generation, oil and gas, industrial manufacturing, district energy, mining and metals, and marine applications. Geographic coverage spans North America, Asia-Pacific, Europe, Latin America, and the Middle East and Africa. Key Attributes: <table style="border-collapse: collapse; width:100%; border-collapse:collapse ;"><tr><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-left: solid black 1pt ; ">Report Attribute</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; ">Details</td></tr><tr><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-left: solid black 1pt ; ">No. of Pages</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; ">196</td></tr><tr><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-left: solid black 1pt ; ">Forecast Period</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; ">2025 - 2031</td></tr><tr><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-left: solid black 1pt ; ">Estimated Market Value (USD) in 2025</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; ">$12.5 Billion</td></tr><tr><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; ">Forecasted Market Value (USD) by 2031</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; ">$16.02 Billion</td></tr><tr><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; ">Compound Annual Growth Rate</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; ">4.2%</td></tr></table> Key Topics Covered: Overview <ul><li>Scope &amp; Coverage <ul><li>Market Derivation</li><li>Market Definition</li><li>Segment Coverage &amp; Definition</li></ul> </li><li>Premium Insights <ul><li>Key Market Highlights</li><li>Regional Insights</li></ul> </li></ul> Market Dynamics <ul><li>Introduction <ul><li>Market Landscape</li></ul> </li><li>Market Opportunities and Trends</li><li>Growth Enablers</li><li>Market Restraints</li></ul> For more information about this report visit <a href="https://www.researchandmarkets.com/reports/6273749/global-steam-turbine-aftermarkets-market?utm_source=GNE&amp;utm_medium=PressRelease&amp;utm_code=37pfmf&amp;utm_campaign=2341706+-+Global+Steam+Turbine+Aftermarket+Market+to+Reach+USD+16.02+Billion+by+2031+as+Operators+Prioritize+Asset+Life+Extension&amp;utm_exec=clshmsai" rel="nofollow" target="_blank" title="">https://www.researchandmarkets.com/r/s38kf7</a> About ResearchAndMarkets.com ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. 
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Global Steam Turbine Aftermarket Market to Reach USD 16.02 Billion by 2031 as Operators Prioritize Asset Life Extension

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