Steam turbine MRO market seen topping $31B by 2030

By AI, Created 4:29 PM UTC, May 18, 2026, /AGP/ – The Business Research Company says the global steam turbine maintenance, repair and overhaul market is set to exceed $31 billion by 2030, driven by aging fleets, longer turbine run times and stricter compliance rules. Asia-Pacific and China are projected to remain the biggest regional and national markets, respectively.

Why it matters: - Steam turbine maintenance, repair and overhaul spending is tied to the reliability of power generation and industrial operations. - The market is being lifted by aging equipment, higher utilization, and regulatory pressure to keep turbines safe and efficient. - The report says the market will surpass $31 billion by 2030, making MRO a growing piece of the broader utilities economy. - Within the broader utilities industry, which is expected to reach $9,379 billion by 2030, steam turbine MRO is projected to represent nearly 0.3% of total market value.

What happened: - The Business Research Company released a forecast on the global steam turbine maintenance, repair and overhaul market. - The report puts the market at $31 billion-plus by 2030. - The report was published from London on May 14, 2026. - The company also offered a free sample of the market report and a full report.

The details: - The market is expected to grow at a 7% CAGR through 2030. - Asia-Pacific is projected to be the largest region by 2030, with a market value of $13 billion. - Asia-Pacific is expected to grow from $9 billion in 2025 at an 8% CAGR. - China is forecast to be the largest country in the market by 2030, with a value of $8 billion. - China’s market is expected to rise from $5 billion in 2025 at an 8% CAGR. - The report attributes Asia-Pacific growth to aging thermal power infrastructure, advanced MRO providers, efficiency and reliability priorities, predictive maintenance adoption, and stricter safety and emissions rules. - The report attributes China’s growth to power capacity expansion, new thermal plant commissioning, industrial demand, digital monitoring, turbine optimization, and a focus on energy security. - By service type, maintenance is projected to be the largest segment in 2030, accounting for 34% of the market, or $11 billion. - The maintenance segment is expected to benefit from regular inspection needs, lower downtime goals, predictive maintenance adoption, thermal capacity growth, and stricter safety requirements. - The market is also segmented by component type into blades, bearings, seals, governors, and generator. - The market is segmented by turbine capacity into large capacity above 300 MW, medium capacity from 50 MW to 300 MW, and small capacity below 50 MW. - The market is segmented by end user into power generation, oil and gas, industrial, marine, and other users. - The report says the maintenance, repair, overhaul, and spare parts segments together could add more than $9 billion in value by 2030. - Over the next five years from 2025 to 2030, maintenance is projected to grow by $3 billion, repair by $2 billion, overhaul by $3 billion, and spare parts by $1 billion.

Between the lines: - The forecast points to a service market built on replacement avoidance rather than new-build growth. - Aging turbines push owners toward refurbishment and life-extension work instead of full asset replacement, which supports recurring revenue for service providers. - Longer operating hours raise wear and shorten maintenance intervals, making planned service more important than reactive repairs. - The compliance backdrop suggests MRO demand is increasingly non-discretionary in both power and industrial settings. - The report’s estimates are presented as market research conclusions, not guarantees.

What’s next: - The strongest near-term opportunity appears concentrated in maintenance, repair, overhaul, and spare parts services. - Continued investment in predictive and condition-based maintenance is likely to shape how operators schedule turbine work. - Regions with aging thermal fleets and high power demand are likely to remain the main growth centers through 2030. - The Business Research Company says it publishes market intelligence across 27 industries and 60-plus geographies, and offers custom research packages for market entry, competitor tracking, and supplier-distributor analysis.

The bottom line: - Steam turbine MRO is becoming a steady-growth market as operators spend more to keep aging assets running safely and efficiently.