Global Gas Turbine Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
MarketResearch.biz delivers in-depth insights on the global gas turbine market in its upcoming report titled, “Global Gas Turbine Market Trends, Applications, Analysis, Growth, and Forecast: 2017 to 2027”. The global gas turbine market is estimated to register a CAGR of X.X% in terms of value during forecast period 2017–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global gas turbine market report has been segmented on the basis of capacity, technology, application, and region.
This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.
Gas turbine also known as combustion turbine, is a type of internal combustion engine which produce electric currents. Gas turbine uses variety of fuels, such as natural gas, fuel oils, and synthetic fuels. Gas turbines are available in a wide range of capacity for various applications such as power generation, oil and gas, process plants, and aviation.
Increasing environmental regulations to reduce carbon footprint coupled with low shale prices is a key factor expected to drive growth of the global market over the forecast period. In addition, increasing energy demand across the globe, especially from manufacturing plants and related industrial establishments is another factor expected to further fuel growth of the target market. Furthermore, factors such as durability and efficiency of gas turbines are other factors expected to propel growth of this market in the near future. Moreover, technological advancements and lower power generation cost are other factors expected to boost growth of the global market over the forecast period.
However, lengthy start-up time and less efficient at idle speed are major factors expected to restrain growth of the global market over the forecast period. In addition, low sensitivity to modification in power demand is another factor expected to hamper growth of the target market in the near future.
Ongoing trend observed in the target market is government in various countries offers incentives for electricity generation on the basis of natural gas.
Shifting preference towards gas-fired power generation instead of nuclear power generation is expected to create potential revenue opportunities for players operating in the target market over the forecast period.
The market in Asia Pacific dominate the target market in terms of revenue over the forecast period, owing to rapidly increasing industrialization, and rising demand for power generation across various countries in the region. The market in Europe is expected to register significant share in terms of revenue over the forecast period, owing to increasing preference towards gas-fired combined cycle plants in various countries in the region. The market in Middle East & Africa is expected to register moderate growth in terms of revenue over the forecast period, owing to the increasing exploration activities in various countries such as South Africa, the UAE, and Saudi Arabia.
Global gas turbine market segmentation:
Segmentation by capacity:
- ≤200 MW
- >200 MW
Segmentation by technology:
- Open Cycle
- Combined Cycle
Segmentation by application:
- Power Generation
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Siemens AG
- General Electric Company
- Mitsubishi Heavy Industries, Ltd.
- Ansaldo Energia SpA
- Solar Turbines Incorporated
- United Engine Corporation
- MAN Energy Solutions
- Opra Turbines BV
- Bharat Heavy Electricals Limited
- Vericor Power Systems, LLC.
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