Gas Turbine Market Research Report

 

Gas Turbine Market:

Growth opportunities in the Gas Turbine market look promising over the next six years. This is mainly due to the rising government support for power generation technologies and the various advantages offered by gas turbines, such as decreased operation costs, higher power density, and has lower emission.

Request for a FREE Sample Report on Gas Turbine Market

Gas Turbine Industry Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)

Key Drivers

One of the major factors that is contributing to the growth of the global gas turbine market size includes the increasing government support for power generation technologies which aims to reduce carbon dioxide emission. The U.S. Department of Energy has recently launched the clean energy research, development, demonstration, & deployment (RDD&D) to have progress in the U.S. climate and energy goals. According to the Energy Information Administration, natural gas is considered an important source of electricity generation in the U.S., which accounts for 38% share in the U.S. power generation. Moreover, the significant shift from coal-based power generation towards gas-based power generation is further increasing the market growth over the coming years.

The gas turbine offers advantages such as decreases operational costs, increases power density, and reduces lower emission. They are having higher efficiency as compared to other combustion-based power generation technologies. As per The International Energy Agency's Global Energy and CO2 Status Report of 2018, the coal-fired power generating plants surges the carbon emission in 2018, which has surged by 2.9% from 2017. According to the gas turbine market forecast, the increasing rate of population along with the growing emphasis on infrastructural development has surged the demand for electricity. This will further surge the gas turbine market growth over the coming years.

Regional Drivers

Based on the region, Asia-Pacific is projected to witness a higher CAGR over the forecast period. China is the biggest contributor to this regional market growth over the coming years. In 2018, Siemens and State Power Investment Corporation (SPIC) of China entered a partnership with the Chinese government for the manufacturing of heavy-duty gas turbines independently. Therefore, the surging demand for gas turbines in China is contributing to the market growth. India's power sector is dominated by coal-based generation. According to the IBEF, the government of India is planning to achieve 227 GW capacity in renewable energy by 2020. In addition to this, the country's government has identified the potential of renewable energy and gas-based generation for decarbonizing the economy and with an aim to meet targets according to the Paris Agreement. Thus, the increasing share of gas based generation is surging the demand for gas turbines in India.

Gas Turbine Market’s Leading Manufacturers:

  • GENERAL ELECTRIC
  • Siemens Energy
  • Mitsubishi Power, Ltd.
  • Kawasaki Heavy Industries, Ltd.
  • Bharat Heavy Electricals Limited
  • Ansaldo Energia
  • Solar Turbines Incorporated
  • OPRA Turbines
  • MAN Energy Solutions
  • Centrax Gas Turbines

Gas Turbine Market Segmentation:

Segmentation by Technology:

  • Open cycle
  • Combined Cycle

Segmentation by End-use:

  • Power & Utility
  • Industrial

Segmentation by Capacity:

  • 50 to <100 MW
  • 100 to <150 MW
  • 150 to <250 MW
  • 250 to <500 MW
  • Others

Segmentation by Region:

  • North America
    • United States of America
    • Canada

 

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of the world (remaining countries of the LAMEA region)

About GMI Research

GMI Research is a market research and consulting company that offers business insights and market research reports for large and small & medium enterprises. Our detailed reports help the clients to make strategic business policies and achieve sustainable growth in the particular market domain. The company's large team of seasoned analysts and industry experts with experience from different regions such as Asia-Pacific, Europe, North America, among others, provides a one-stop solution for the client. Our market research report has in-depth analysis, which includes refined forecasts, a bird's eye view of the competitive landscape, key factors influencing the market growth, and various other market insights to aid companies in making strategic decisions. Featured in the 'Top 20 Most Promising Market Research Consultants' list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping our clients to stay ahead of the curve.

Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website: www.gmiresearch.com

 


Comments

Post a Comment

Popular posts from this blog

Seizing the Europe Smart Home Market Opportunity

Image
 The Europe smart home market presents a vast and promising opportunity for businesses and consumers alike. With advancements in technology, changing lifestyles, and increasing awareness about energy efficiency, the smart home industry in Europe is ripe with potential for growth and innovation. The opportunity in the Europe smart home market stems from several key factors. Firstly, the region boasts a large and affluent consumer base that is increasingly embracing connected technology to enhance their lifestyles. From smart thermostats and lighting systems to security cameras and voice-controlled assistants, the demand for smart home devices is on the rise across the continent. Moreover, supportive regulatory initiatives and incentives aimed at promoting energy efficiency and sustainability are creating a conducive environment for the adoption of smart home technology in Europe. Tax incentives, rebates, and subsidies for energy-efficient home upgrades are encouraging homeowners to...
Read more

Unlocking Opportunities: GCC Medical Packaging Market Growth in 2024

Image
The GCC medical packaging market is poised for substantial growth in 2024, driven by factors such as technological advancements, increasing healthcare spending, and a focus on patient safety. The region's growing population, coupled with rising demand for quality healthcare services, is fueling the expansion of the medical packaging sector. Let's explore the key drivers and opportunities contributing to the growth of the GCC medical packaging market this year. One of the primary drivers of market growth is the continuous innovation in medical packaging technologies. Companies are investing in advanced packaging materials, designs, and functionalities to meet the evolving needs of healthcare providers and patients. Smart packaging solutions equipped with sensors, RFID tags, and tracking capabilities are enhancing product safety, supply chain visibility, and real-time monitoring. This technological progress is driving the adoption of intelligent packaging solutions and fueling m...
Read more

Riding the Wave: India Wireless Earphone Market Surges Amidst Growing Demand

Image
 The India Wireless Earphone Market is witnessing remarkable growth, buoyed by an increasing demand for wireless audio solutions and a shift towards a wireless lifestyle. With consumers seeking convenience, mobility, and superior audio quality, wireless earphones have emerged as a must-have accessory in today's digital age, driving significant market expansion. One of the key drivers of growth in the India Wireless Earphone Market is the rising penetration of smartphones and smart devices. With smartphone ownership becoming ubiquitous across urban and rural areas, there is a growing need for wireless earphones that complement these devices seamlessly. As consumers look for hassle-free connectivity and on-the-go audio solutions, the demand for wireless earphones continues to surge, fueling market growth. Moreover, technological advancements in wireless audio technology are driving market expansion. Innovations such as true wireless earbuds, active noise cancellation, and advanced B...
Read more