Product Code: RP-ID-10064522 |
Published Date: 21 Oct 2022 |
Region: NA |
Category: Energy & Power |
Report ID: 10064522
Market Overview:
Gas Turbine Market
Description
Gas turbines form a backbone of the Energy sector of the modern economy. The reason for their extensive use in the industry can be attributed to their enormous capacities and versatile use of fuels including natural gas and fuel oils. The efficiency and capacity of a Gas Turbine and are mainly affected by its structure and the material it is made up of. The temperatures inside the turbine can reach 1200C-1400C. However, recent innovations in the design and metallurgy have made it possible to reach 1600C- thus, enhancing the capacity of the turbine. The most efficient gas turbines available today have designs derived from that of aircraft jet engines and are lighter, compact, offer high efficiency and show lower emissions. The Global Gas Turbine market has been currently valuated to be US$ XX in 2017 and is anticipated to grow at a CAGR of XX%, to US$ XX in 2022.
Market Dynamics:
Few factors those were responsible for a relatively recent boost in the market for gas turbines include urbanization, worldwide increase in energy demands and the Shale gas boom in the last decade. Natural gas that is found trapped in the sedimentary rocks is called Shale. Its share in the natural gas production of U.S. has increased from 1% in 2001 to 20% in 2010. Shale gas reserves, as of now, are found in 48 structural basins across 38 countries- almost single-handedly providing tremendous scope for developing the gas turbine market. The search for cleaner energy sources and growing investment in gas-powered electricity generation has opened new doors of opportunity for gas turbines. Increasing focus on developing materials with higher temperature tolerance and development of lighter and more efficient blade systems are a few dawning trends in technology that have a direct impact on the gas turbine market.
Market Segmentation:
The gas turbine market has been segmented mainly on the basis of the capacity of power generation and the segments include 1-60 MW, 61-180 MW, and more than 180 MW. Turbines with a capacity of 61-180 MW are expected to remain the largest segment while the 180 MW-and-above segment is expected to show a steady rise.
Regional Analysis:
The United States, with a consumption of 778 billion m3 of natural gas per year is the leading consumer of gas turbines as well. In the United Kingdom, a government initiative to close down all the coal fired stations and promote cleaner sources of energy has created a huge market. In China, electrification programs like China Township Electrification Program for supplying reliable power to end consumers will augment the country's business landscape. In developing nations like India, a strong growth of the gas turbine market has been anticipated due to rising private investments in power generation
Key players in the industry include General Electric, Mitsubishi Hitachi Power Systems, Kawasaki Heavy Industries, Vericor Power Systems, Siemens, Bharat Heavy Electricals, Man Diesel & Turbo, Capstone Turbine, Harbin Electric, Zorya-Mashproekt to name a few.
Report ContentsRegional AnalysisReport Highlights
Market segments
Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market - Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
North America
US and Canada
Latin America
Mexico, Brazil, Argentina and Rest of Latin America
Western Europe
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
Eastern Europe
Russia
Poland
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia and New Zealand
Rest of Asia Pacific
Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
South Africa
North Africa
Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
Market Segmentation
Estimated Market Sizing in terms of volume and value
Recent trends in Market and impact
Research Status and Technology Overview
Extensive Industry Structure Coverage
Related Reports
Proof of Quality & Reliability
