Growing electricity demand coupled with growing prominence towards the energy-mix concept and other gas fired technology will boost the global gas turbine market size over the forecast timeline. In the past few years government and private financial institutions have made substantial investments towards the expansion of new gas fired generation facilities.
Gas turbines are classified, based on their capacity type types, as ≤ 70 MW, 70 – 300 MW and ≥ 300MW gas turbine. ≤ 70 MW gas turbines are used in small industrial and commercial applications whereas 70 – 300 MW and ≥ 300MW gas turbine are used for high power applications such as power generation and industries. ≤ 70 MW is expected to witness substantial growth by 2023.
Industrial applications market is growing at the highest rate in the Gas Turbines market from 2017-2023.
Industrial gas turbine market currently holds more than half of the total share of volume of gas turbine and is expected to dominate the market in forecast period and the growing attention towards the replacement of conventional coal-fired power plant with viable natural gas-fired power plants will enhance the industrial gas turbine market in forecast period.
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The key players of global gas turbine markets are General Electric (U.S.), Siemens AG (Germany), Mitsubishi Heavy Industries Ltd. (Japan), Alstom S.A (France), Kawasaki Heavy Industries, Ltd. (Japan), Bharat Heavy Electricals Limited. (India), Ansaldo Energia, (Italy), Rolls-Royce Holdings plc. (U.K), Harbin Electric Company Limited. (China), MAN Diesel & Turbo. (Germany), Vericor Power Systems. (Georgia) and Solar Turbines Incorporated. (U.S.A).
Global Gas Turbine Market
The gas turbines market is driven by the need of reliable electric supply at low operating and fuel costs, also growing investment towards the replacement of conventional matured structures with modern upgraded one. The Asia-Pacific region is the leading market for Gas Turbines. The rapid industrialization, urbanization, and fast economic growth in the countries such as India and China, will drive the market for Gas Turbines.
Table Of Contents
1 Executive Summary
2 Research Methodology
2.1 Scope Of The Study
2.1.2 Research Objective
2.2 Research Process
2.2.1 Primary Research
2.2.2 Secondary Research
2.3 Market Size Estimation
2.4 Forecast Model
3 Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
3.3 Supply/Value Chain Analysis
3.4 Porter’s Five Forces Analysis
4 Global Gas Turbine Market, By Product Type
4.2 Heavy Duty
5 Global Gas Turbine Market, By Capacity
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LIST OF TABLES
TABLE 1 GLOBAL GAS TURBINE MARKET, BY CAPACITY
TABLE 2 GLOBAL GAS TURBINE MARKET, BY PRODUCT TYPE
TABLE 3 GLOBAL GAS TURBINE MARKET, BY TECHNOLOGY
TABLE 4 GLOBAL GAS TURBINE MARKET, BY APPLICATION
TABLE 5 GLOBAL GAS TURBINE MARKET, BY REGIONS
TABLE 6 NORTH AMERICA GAS TURBINE MARKET, BY CAPACITY
TABLE 7 NORTH AMERICA GAS TURBINE MARKET, BY PRODUCT TYPE
TABLE 8 NORTH AMERICA GAS TURBINE MARKET, BY TECHNOLOGY
TABLE 9 NORTH AMERICA GAS TURBINE MARKET, BY APPLICATION
TABLE 10 U.S. GAS TURBINE MARKET, BY CAPACITY
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