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U.S. Gas Turbine Market to exceed 5 GW by 2024

Author : Rahul Sankrityayan | Published Date : 2019-03-25 

Gas Turbine Market is predicted to reach over 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.

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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.

>200 MW gas turbine Industry 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.

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China gas turbine market share is anticipated to grow owing to the positive clean energy outlook coupled with ongoing expansion of large capacity gas fired power plants across the nation. Leading manufacturers have aligned their focus toward business expansion across the China industry. In 2018, Siemens fetched orders to supply two H-class gas turbines and associated components for the CCHP project of CHD Guangzhou Zengcheng.

Effective environmental proximity, operational efficiency, effective waste heat utilization, and lower overall operational cost are few imperative factors which will propel the combined cycle gas turbine market growth. Resurgent industrial headway in conjunction growing demand for energy and stabilization of gas prices will fuel the overall industry potential. Furthermore, overburdening of existing energy resources including hydro power and coal coupled with regulatory focus toward energy optimization have instituted a favorable business scenario.

Lesser number of moving parts, compact size, light weight, improved efficiency, lower emissions, potential to utilize waste fuels, and lower electricity costs are few indispensable parameters which will drive the >500 kW to 1 MW gas turbine market. In addition, ongoing technological advancements with respect to the flexibility and efficiency improvements across both recuperated and un-recuperated systems will further stimulate the business growth.

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Partial Table of Contents (ToC) of the report:

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

Eminent participants in gas turbine market includes General Electric, Wartsila, Mitsubishi Hitachi, BHEL, Kawasaki, Ansaldo Energia, Siemens AG, Solar Turbines, Opra Turbines, Capstone Turbine, Vericor, Man Diesel & Turbo, Harbin Electric, Cryostar, Zorya-Mashproekt, and NPO Saturn.

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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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