Power Plant Maintenance Market Report 2026

The power plant maintenance market size has grown steadily in recent years. It will grow from $23.44 billion in 2025 to $24.45 billion in 2026 at a compound annual growth rate (CAGR) of 4.3%. The growth in the historic period can be attributed to aging power generation infrastructure, increasing operational complexity of power plants, historical reliance on preventive maintenance models, growth of thermal and nuclear power capacity, rising importance of equipment reliability.

The power plant maintenance market size is expected to see steady growth in the next few years. It will grow to $28.27 billion in 2030 at a compound annual growth rate (CAGR) of 3.7%. The growth in the forecast period can be attributed to increasing investments in digital power plants, rising adoption of AI-driven maintenance analytics, expansion of renewable power assets requiring specialized maintenance, growing focus on operational efficiency, increased emphasis on safety and regulatory compliance. Major trends in the forecast period include increasing adoption of predictive maintenance practices, rising use of condition monitoring systems, growing integration of digital maintenance platforms, expansion of remote inspection technologies, enhanced focus on asset life extension.

The rising global energy demand is expected to drive the growth of the power plant maintenance market in the coming years. Energy demand refers to the total amount of energy required by individuals, businesses, industries, and society to support activities such as heating, cooling, lighting, transportation, production, and communication. This demand is increasing due to factors including changing weather patterns, declining energy prices, supportive government policies, and environmental considerations. Power plant maintenance plays a critical role in meeting this growing energy demand by ensuring reliable operation, improving efficiency, extending equipment lifespan, enhancing safety and compliance, and optimizing overall performance. For instance, in July 2024, the International Energy Agency, a France-based autonomous intergovernmental organization, reported that global electricity demand is projected to grow by around 4% in 2024, up from 2.5% in 2023, while renewable electricity sources are expected to expand rapidly, with their share of global electricity supply forecast to rise from 30% in 2023 to 35% in 2025. Therefore, the increasing global energy demand is fueling the growth of the power plant maintenance market.

Major companies operating in the power plant maintenance market are focusing on implementing artificial intelligence (AI)-driven predictive maintenance and digital monitoring to improve asset reliability, minimize downtime, and optimize operations in large-scale power plants. AI-based predictive maintenance uses advanced analytics and machine learning to continuously monitor equipment health, detect anomalies, and predict potential failures before they occur. For instance, in October 2025, Toshiba JSW Power Systems, an India-based power engineering company, deployed an AI-enabled monitoring and diagnostics system across 165 power plants in India. The system supports predictive maintenance by analyzing real-time operational data from critical plant equipment, enabling early fault detection, better maintenance planning, and extended equipment life, thereby enhancing operational efficiency and reliability in power generation facilities.

In August 2024, Suzlon Energy, an India-based renewable energy company, acquired Renom Energy Services for an undisclosed amount. This acquisition is part of Suzlon's strategy to reinforce its presence in the renewable energy sector by incorporating Renom Energy Services' expertise in wind turbine operations and maintenance. This move enhances Suzlon’s ability to provide comprehensive renewable energy solutions and strengthens its service portfolio for sustainable, long-term growth. Renom Energy Services is an India-based company specializing in power plant maintenance.

Major companies operating in the power plant maintenance market are General Electric Company, RWE AG, Siemens Energy AG, Mitsubishi Hitachi Power Systems Ltd., ABB Ltd., Duke Energy Corporation, Exelon Corporation, Bechtel Corporation, Jacobs Engineering Group, Fluor Corporation, Emerson Electric Co., Doosan Enerbility Co. Ltd., Kiewit Corporation, Burns & McDonnell, Wärtsilä Corporation, SNC-Lavalin Group Inc., John Wood Group plc, Voith Group, Toshiba Energy Systems & Solutions Corporation, Black and Veatch, Zachry Group, Babcock & Wilcox Enterprises Inc, NAES Corporation, Sargent & Lundy, EthosEnergy, Stellar Energy, Granite Services International, Chicago Bridge & Iron Company N.V.

Asia-Pacific was the largest region in the power plant maintenance market in 2025. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the power plant maintenance market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the power plant maintenance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The power plant maintenance market includes revenues earned by entities by offering services such as repair and replacement of equipment, emission monitoring, turbine support, and inspection services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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