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By 2024, Global Gas Turbine Market to exceed 34 GW

Author : Rahul Sankrityayan | Published Date : 2019-06-24 

An analysis of Gas Turbine Market has been provided in the latest report introduced by Global Market Insights that primarily focuses on the market trends, demand spectrum, and future prospects of this industry over the forecast period. Furthermore, the report provides a detailed statistical overview in terms of trends outlining the geographical opportunities and contributions by prominent industry share contenders. 

U.S. Gas Turbine Market was 8 GW in 2015 is estimated to grow at around 8% CAGR from 2019 to 2025. The regional growth is influenced by the increasing exploration and petroleum extraction activities.

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 Growth drivers of Gas Turbine Market

  • Inclination towards energy optimization
  • Shale gas revolution
  • Positive clean energy outlook
  • Renewable energy integration
  • Restructuring of electrical infrastructure
  • Focus towards decentralized generation technologies
  • Large scale renewable integration prospects
  • Positive outlook towards gas-based electricity generation

Gas turbine market is set to exceed USD 34 GW by 2024. Stringent government mandates to curb emissions along with growing environmental concerns, have aligned focus toward the integration of effective measures pertaining to energy conservation. Pivotal for this development has been a re-structuring across the key power markets coupled with rapid technological advancements including the field of combustion, aerodynamics, cooling, and materials which in turn will complement the industry landscape.

Expansion of R&D investment reforms coupled with shifting focus toward effective combined cycle power generation plants will drive the U.S. gas turbine market. In 2016, ICF International have estimated that turbines fabricated by the U.S. manufacturers contributed to around 80% of the natural gas-fired combined cycle power plants across the nation. Government focus toward energy matrix optimization along with straining of available energy resources including coal and hydro power will further nourish the business outlook.

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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

  • Siemens AG
  • General Electric
  • Wartsila
  • BHEL
  • Mitsubishi Hitachi
  • Kawasaki
  • Solar Turbines
  • Ansaldo Energia
  • Opra Turbines
  • Vericor
  • Capstone Turbine
  • Man Diesel & Turbo
  • Cryostar
  • Harbin Electric
  • Zorya-Mashproekt
  • and NPO Saturn.

>200 MW gas turbine market share is predicted to grow on account of significant applicability across industries, power generation units, and manufacturing plants. The products are adept with environmental proximity, longer life cycle, effective fuel efficiency with comparatively lower costs. Further, enhanced operational performance along with large capacity integration and flexibility will favor the product adoption.

U.K. gas turbine market is estimated to generate demand of over 1 Gigawatt by 2024, owing to increasing replacement in existing coal fired stations.

Initiatives on several electrification programs such as China Township Electrification Program will stimulate the China gas turbine industry share in the coming years. China market is projected to grow at an annual rate of more than 10% over the period of 2016-2024.

Rapid industrialization and urbanization in India have made it a land of immense potential and opportunities. India gas turbine market is anticipated to register an annual growth rate of 12% over 2016-2024, owing to the rise of numerous private sector investments to improve power generation competence.

Prominent leaders in this industry include Bharat Heavy Electricals, Mitsubishi Heavy Industries, Ltd., Solar Turbines, Harbin Electric, General Electric, Zorya-Mashproekt Corporation, Cryostar, Capstone Turbine Manufacturing company, MAN Diesel & Turbo, Kawasaki Heavy Industries, and Siemens.

Browse Complete Summary of this report @  https://www.gminsights.com/industry-analysis/gas-turbine-market

Topics Covered:

Table of Content

Chapter 1. Methodology and Scope

1.1. Methodology

1.2. Market definitions

1.3. Market estimations and forecast parameters

1.4. Data sources

1.4.1.   Primary

1.4.2.   Secondary   Paid sources   Public sources

Chapter 2. Executive Summary

2.1. Gas turbine industry 3600 synopsis, 2013 – 2024

2.1.1.   Business trends

2.1.2.   Regional trends

2.1.3.   Capacity trends

2.1.4.   Product trends.

2.1.5.   Technology trends.

2.1.6.   Application trends

Chapter 3. Gas Turbine Industry Insights

3.1. Industry segmentation

3.2. Industry landscape, 2013 – 2024 (USD Million)

3.3. Industry ecosystem analysis

3.3.1.   Vendor matrix

3.4. Innovation and technology landscape

3.4.1.   General Electric

3.4.2.   Siemens

3.4.3.   Mitsubishi Hitachi Power Systems

3.4.4.   MAN Diesel & Turbo

3.5. Regulatory landscape

3.5.1.   U.S.

3.5.2.   Europe

3.5.3.   China

3.5.4.   India

3.5.5.   UAE

3.5.6.   International gas turbine standards

3.6. Application landscape

3.6.1.   Simple cycle

3.6.2.   Combined cycle

3.7. Natural gas fuel composition impact on GT operations

3.8. Gas Turbine Import/Export landscape, 2016

3.9.  Average global market perspectives 2016, by company

3.9.1.   GE

3.9.2.   Siemens

3.9.3.   Wartsila

3.10.  Global gas outlook 2040

3.10.1.    Production, by region    Africa    CIS    Latin America    Middle East    Non-OECD Asia    Non-OECD Europe    North America    OECD Asia Pacific    OECD Europe  Southeast Asia

3.10.2.    Production, by resource type    Conventional existing    Conventional new projects    Unconventional-YTF    Conventional-YTF

3.10.3.    Trade share (Import/Export), by region    Africa    CIS    Latin America    Middle East    Non-OECD Asia    North America    OECD Asia Pacific    OECD Europe    Southeast Asia

3.10.4.    Pipeline gas trade share (Import/Export), by region    Africa    CIS    Latin America    Middle East    North America    OECD Europe    Southeast Asia

3.10.5.    LNG trade share (Import/Export), by region    Africa    CIS    Latin America    Middle East    North America    OECD Europe    Southeast Asia

3.11.  Effect of operating parameters on the performance of combined cycle plants

3.12.  Combined cycle plant analysis

3.12.1.    Property values

3.12.2. Entropy production rates

3.12.3. Thermal and mechanical energy flows

3.13.  Combined cycle plant monetary landscape

3.13.1.    Initial investments

3.13.2. annualized costs and corresponding

3.13.3. monetary flow rates

3.14.  World energy investment scenario, 2017

3.15.  Primary energy demand outlook 2040, by region

3.15.1.    OECD

3.15.2. China

3.15.3. India

3.15.4. Other Asian countries

3.15.5. Africa

3.15.6. Rest of the world

3.16.  Primary energy demand outlook 2040, by fuel

3.16.1.    Oil

3.16.2. Gas

3.16.3. Coal

3.16.4. Nuclear

3.16.5. Hydro

3.16.6. Renewables

3.17.  Operations & maintenance landscape

3.18.  Cost structure analysis

3.18.1.    Coal fired plants

3.18.2. Biomass plants

3.18.3. Combined cycle plants

3.18.4. Geothermal plants

3.19.  Comparative analysis

3.19.1.    Steam cycle

3.19.2. Combined cycle

3.19.3. Co-generation

3.20.  Industry impact forces

3.20.1.   Growth drivers    North America & Europe   Inclination towards energy optimization   Shale gas revolution   Positive clean energy outlook    Asia Pacific   Renewable energy integration   Focus towards decentralized generation technologies    Middle East, Africa and CIS   Restructuring of electrical infrastructure   Large scale renewable integration prospects    Latin America   Positive outlook towards gas-based electricity generation

3.20.2.   Industry pitfalls & challenges    Advancing auxiliary clean turbine technologies    Cost competitiveness

3.21.  Porter's analysis

3.22.  Growth potential analysis

3.23.  Price trend analysis, by technology

3.23.1.    Open cycle

3.23.2. Combined cycle

3.24.  Key customer requirements

3.25.  Key barrier

3.26.  Competitive landscape, 2017

3.26.1.   Strategy dashboard

3.26.2. Global company market share

3.27.  PESTEL analysis

Chapter 4. Gas Turbine Market, By Capacity

4.1. Gas turbine market share by capacity, 2017 & 2024

4.2. < 50 KW

4.2.1.   Market estimates and forecast, 2013 – 2024

4.3. 50 KW to 500 KW

4.3.1.   Market estimates and forecast, 2013 – 2024

4.4. > 500 KW to 1 MW

4.4.1.   Market estimates and forecast, 2013 – 2024

4.5. > 1 MW to 30 MW

4.5.1.   Market estimates and forecast, 2013 – 2024

4.6. > 30 MW to 70 MW

4.6.1.   Market estimates and forecast, 2013 – 2024

4.7. > 70 MW to 200 MW

4.7.1.   Market estimates and forecast, 2013 – 2024

4.8. > 200 MW

4.8.1.   Market estimates and forecast, 2013 – 2024

Chapter 5. Gas Turbine Market, By Product

5.1. Gas turbine market share by product, 2017 & 2024

5.2. Aero-derivative

5.2.1.   Market estimates and forecast, 2013 – 2024

5.3. Heavy duty

5.3.1.   Market estimates and forecast, 2013 – 2024

Chapter 6. Gas Turbine Market, By Technology

6.1. Gas turbine market share by technology, 2017 & 2024

6.2. Simple cycle

6.2.1.   Market estimates and forecast, 2013 – 2024

6.3. Combined cycle

6.3.1.   Market estimates and forecast, 2013 – 2024

Chapter 7. Gas Turbine Market, By Application

7.1. Gas turbine market share by application, 2017 & 2024

7.2. Power plants

7.2.1.   Market estimates and forecast, 2013 – 2024

7.3. Oil & gas

7.3.1.   Market estimates and forecast, 2013 – 2024

7.4. Process plants

7.4.1.   Market estimates and forecast, 2013 – 2024

7.5. Aviation

7.5.1.   Market estimates and forecast, 2013 – 2024

7.6. Marine

7.6.1.   Market estimates and forecast, 2013 – 2024

7.7. Others

7.7.1.   Market estimates and forecast, 2013 – 2024

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About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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