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Market Overview of Global Steam Turbine MRO market:
According to our latest research, the global Steam Turbine MRO market looks promising in the next 5 years. As of 2022, the global Steam Turbine MRO market was estimated at USD XX million, and it's anticipated to reach USD XX million in 2028, with a CAGR of XX% during the forecast years.
Steam turbine MRO is committed to providing maintenance, repair and overhaul services for steam turbine plants.
In general, the MRO Company focuses on delivering service on the parameters such as Package instrumentation calibration/function test, Breakdown fault finding and repair, Valve actuator calibration/function test, Borescope inspections, Control system, calibration, health care, Geometry checks, and calibrations.
Influence of COVID-19 Outbreak on Steam Turbine MRO Industry Development
The outbreak and persistence of the Covid-19 epidemic will undoubtedly have a serious impact on various industries in the United States in 2020. The economy is facing greater downward pressure. The impact of this epidemic on the economy leads to the stagnation or slowdown of national economic activities, the decline of demand, the sharp decline of trade and investment, and the impact on the industrial chain.
The large fluctuation of the industry increases the risk of market fluctuation in the future, and the demand side and the supply side will be more cautious, resulting in the reduction of related investment. Affected by this, the Steam Turbine MRO market will also fluctuate. Downstream companies may cut MRO expenses and delay maintenance as much as possible.
In order to curb the Covid-19 epidemic, the state has introduced many policies, including border blockade and social distance. Epidemic prevention and control measures will affect the flow of people and activities, and then affect logistics, so that the production of labor-intensive industries will be affected by the shortage of raw materials and labor.
For Steam Turbine MRO industry, the blockade policy will affect the material supply and personnel flow. Social distance policy may have a great impact on service provision. In particular, some small and medium-sized enterprises will spend more money to maintain their operations during the epidemic, and they may face the risk of bankruptcy.
However, with the gradual control of the epidemic, the downstream economy and production will recover, and the adoption of more and more projects is expected to further promote market growth.
Limitations
For most industries, the intensity of competition is the main determinant of industry competitiveness. Understanding industry competitors is essential to successfully market products. Positioning is related to how the public views products and how to distinguish products from competitors. Enterprises must understand the marketing strategies and pricing of competitors and respond to any changes. Steam Turbine MRO industry is facing fierce competition.
Market challenges in the new era have promoted the transformation and upgrading of American industrial industries, and these advantages have led to the rapid development of American MRO market. In the United States, there are more and more enterprises engaged in Steam Turbine MRO. Industry leaders rely on perfect channels, comprehensive service network and overall supply chain advantages, and constantly merge and integrate the market. In addition, in recent years, OEMs have continuously increased their investment in labor-intensive maintenance business, further intensifying competition.
At the same time, macro factors such as supervision, political, financial and social issues may hinder the development of Steam Turbine MRO market. These factors are beyond the control of the company, so we can only avoid risks and take measures to deal with them. For example, the demand for clean energy is expected to shift the market from thermal power plants to solar and wind power plants, which may hinder the growth of Steam Turbine MRO market.
At present, labor-intensive maintenance business is faced with the challenges of labor shortage, high labor cost and small profit margin. The labor cost of enterprises is the biggest pressure. There is a serious imbalance between the supply and demand of maintenance technicians. Technicians with long working years are continuing to retire, while young new technicians are in short supply. Coupled with global wage inflation, it is difficult to resolve the contradiction between supply and demand of human resources in the short term. Therefore, the rapid increase of labor cost is the main problem faced by maintenance enterprises and operators.
Company Overview:
GE is one of the major players operating in the Steam Turbine MRO market, holding a share of 9.13% in 2020.
GE Steam Power offers a broad portfolio of technologies and services predominantly for nuclear and coal power plants helping customers deliver reliable power as they transition to a lower carbon future.
EthosEnergy, is a leading independent service provider of rotating equipment services and solutions to the power, oil & gas, and industrial markets.
Segmentation Overview:
Among different product types, Maintenance segment is anticipated to contribute the largest market share in 2028.
Application Overview:
By application, the Power Station segment occupied the biggest share from 2018 to 2022.
This report covers a research time span from 2018 to 2028, and presents a deep and comprehensive analysis of the global Steam Turbine MRO market, with a systematical description of the status quo and trends of the whole market, a close look into the competitive landscape of the major players, and a detailed elaboration on segment markets by type, by application and by region.
Key Takeaways from the Global Steam Turbine MRO Market Report:
Market Size Estimates: Steam Turbine MRO market size estimation in terms of value and sales volume from 2018-2028
Market Trends and Dynamics: Steam Turbine MRO market drivers, opportunities, challenges, and risks
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Steam Turbine MRO market
Segment Market Analysis: Steam Turbine MRO market value and sales volume by type and by application from 2018-2028
Regional Market Analysis: Steam Turbine MRO market situations and prospects in North America, Asia Pacific, Europe, Latin America, Middle East, Africa
Country-level Studies on the Steam Turbine MRO Market: Revenue and sales volume of major countries in each region
Steam Turbine MRO Market Competitive Landscape and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product profile and application, etc.
Trade Flow: Import and export volume of the Steam Turbine MRO market in major regions.
Steam Turbine MRO Industry Value Chain: Steam Turbine MRO market raw materials & suppliers, manufacturing process, distributors, downstream customers
Steam Turbine MRO Industry News, Policies & Regulations
Key players in the global Steam Turbine MRO market are covered in Chapter 12:
Bharat Heavy Electricals Limited
Universal Plant Services
GE
Stork
Ethos Energy
ProEnergy
Sulzer
Power Plant Services
Elliot
ST Cotter + Axis Mechanical
Rotating Equipment Repair
Reliable Turbine Services
Shanghai Electric
MAN Energy Solutions SE
PSG
Houston Dynamics Service, Inc.
Texas Rotating Equipment
MD&A
TOPS
HPI US
Goltens
Turbine Repair Services
TurbinePROs
S.T. Cotter Turbine Service, Inc.
Mitsubishi Hitachi Power Systems Ltd
In Chapter 2 and Chapter 15.1, based on types, the Steam Turbine MRO market from 2018 to 2028 is primarily split into:
Maintenance
Repair
Overhaul
Spare Parts
In Chapter 3 and Chapter 15.2, based on applications, the Steam Turbine MRO market from 2018 to 2028 covers:
Power Station
Petrochemical
Industrial
Transport
Others
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions are covered in Chapter 7, 8, 9, 10, 11, 15.3, 15.4:
North America (Covered in Chapter 7)
United States
Canada
Asia-Pacific (Covered in Chapter 8)
China
Japan
India
South Korea
Southeast Asia
Australia
Others
Europe (Covered in Chapter 9)
Germany
France
UK
Italy
Spain
Russia
Poland
Others
Latin America (Covered in Chapter 10)
Mexico
Brazil
Argentina
Others
Middle East and Africa (Covered in Chapter 11)
GCC Countries
Africa
Others
The data of this research report is mainly obtained from industry associations, magazines, press releases, national customs, annual reports of enterprises, expert interviews, paid databases and other channels with authority. It also provides scientific forecasts of the industry's core development indicators through professional analysis and forecasting models.
In short, whatever role you take in this industry value chain, this report will help you or your company to acquire a systematic and in-depth understanding of the industry.
Chapter Outline
This report consists of 16 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 starts the report with an overview of the Steam Turbine MRO market, as well as the definitions of the target market and the subdivisions. Through the presented global market size, regional market sizes, and segment market shares, you will be able to draw an overall and comprehensive picture of the market situation. Meanwhile, the research method and data source will be shared in this chapter.
Chapter 2 and Chapter 3 breaks down the market by different types and applications, with historic data presented in metrics of sales volume, revenue, market share and growth rate.
Chapter 4 elaborates on market dynamics and future trends in the industry, which contains an in-depth analysis of market drivers, opportunities, challenges, and risks. Other essential factors that will have a major impact on the market, i.e., industry news and policies in recent years, global inflation, and regional conflict, are also taken into consideration.
Chapter 5 compares the sales volume and revenue of the major regions across the globe, which enables the readers to understand the regional competitive pattern.
Chapter 6 is the analysis of the trade flow. Import volume and export volume are revealed on a regional level.
Chapters 7-11 focus on country-level studies. Data from the major countries in each region are provided, showing the current development of the industry in different countries. Besides, you will also find qualitative trends analysis under global inflation under each of the 6 regions.
Chapter 12 first up presents the competitive landscape by displaying and comparing the revenues, sales volumes, and market shares of the top players in the market, followed by a company-by-company analysis of all the major market participants with introductions of their products, product applications, company profiles, and business overview. In addition, their competitiveness is manifested through numbers of sales volume, revenue, price, gross and gross margin.
Chapter 13 looks into the whole market industrial chain, ranging from the upstream key raw materials and their suppliers to midstream distributors and downstream customers, with influences of global inflation taken into consideration.
Chapter 14 is perfect for those who wish to develop new projects in the industry. This chapter sheds a light on industry entry barriers and gives suggestions on new project investments.
Chapter 15 forecasts the future trend of the market from the perspective of different types, applications, and major regions.
Chapter 16 is the conclusion of the report which helps the readers sum up the main findings and insights.
Years considered for this report:
Historical Years: 2018-2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2023-2028