Global Gas Turbine Market Outlook 2024: Industry Share, Trends, Size, Insights, Demand & Competitors Analysis

By Goldstein Market Intelligence || 2018-03-09 1:15:35 AM

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Gas Turbines: Surmount energy and sustainability challenges

According to Goldstein Research, “Rising industrialization along with increasing power demand across the globe is driving the global gas turbine market growth. Moreover, increasing investment for improving the infrastructure and developing proper power generation facilities in countries such as Brazil, India and China are likely to encourage the growth of gas turbines market in the near future.

Global Gas Turbine Market Outlook 2024

Global gas turbines market is segmented on the basis of technology, by product type, by rating capacity and by applications. Based on technology, combined cycle segment dominates the gas turbine market with over 55% market share in 2016. In combines, cycle gas turbines waste heat is entirely dissipated in the exhaust and is further used to generate additional electricity using steam turbines. This process makes the combined cycle gas turbines more efficient and thereby propelling the growth of gas turbines market. Combined cycle segment is expected to witness 8.5% CAGR during the forecast period.

Europe gas turbine market valued USD 4.80 billion in 2016. Rising energy demand and preference towards gas-fired combined cycle plants are contributing the growth of gas turbines market in the region. Middle East & Africa is the fastest growing region for global gas turbines market owing to the increasing energy projects and exploration activities in countries such as South Africa, the UAE and Saudi Arabia.

Advance gas turbine technology: Boosting efficiency and flexibility

Growing share of renewable power generation plants is propelling the need for efficient gas turbine technology mainly for wind and solar power generation. In the U.S. the renewable power generation share is projected to increase up to 16% by 2040. Inclination towards gas-fired generation power plants over traditional coal-based power plants to increase the efficiency and flexibility of power generation and transmission is impelling the market growth. Leading companies such as General Electric, Siemens Alstom, Mitsubishi and Hitachi are increasingly investing for the innovation of gas turbines with advance gas-turbine technology are accelerating the demand for gas turbines across the globe.

Global Gas Turbines Market

This report contains a detailed overview of the global gas turbines market in terms of market segmentation by technology, by product type, by rating capacity and by applications.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.

Global gas turbines market also provides competitive outlook of some of the major players of global gas turbines market which includes profiling of companies such as Ansaldo Energia, GE, Kawasaki, MHPS, Siemens, Solar Turbines, Motor Sich, MAN Diesel and Turbo, Niigata Power Systems, OPRA Turbines, Power Machines, Allison Engine Company, Avio, International Aero Engines, MTU Aero Engines, Price Induction, Ruston, Snecma, Solar Turbines, Turbomeca, Zorya-Mashproekt, Bharat Heavy Electricals, Toshiba, Mitsubishi Hitachi Power Systems and Alstom S.A. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.

Overall, the report represents comprehensive synopsis on the global gas turbines market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.

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