Market Scenario
The Global Gas Turbine Market is predicted to demonstrate 4% CAGR during the forecast period (2018-2023) owing to the augmenting need for reliable electric supply, asserts Market Research Future (MRFR). Also referred to as a combustion turbine, a gas turbine is a kind of internal combustion engine consisting of an upstream rotating compressor. It is further coupled to a downstream turbine along with a combustion chamber which is referred to as a combustor. Gas turbines are available in different capacities for several applications.
Industry Updates
Siemens had recently agreed to manufacture, engineer, and commission a 41-MW SGT-750 gas turbine. The turbine drives two DATUM compressors which operate in a tandem arrangement in the Barents Sea for Statoil’s Johan Castberg FPSO.
Competitive Dashboard
The prominent players operating the global gas turbine market are
- General Electric (U.S.)
- Vericor Power Systems. (Georgia)
- Mitsubishi Heavy Industries Ltd. (Japan)
- Siemens AG (Germany)
- Bharat Heavy Electricals Limited. (India)
- Kawasaki Heavy Industries Ltd. (Japan)
- Harbin Electric Company Limited. (China)
- Solar Turbines Incorporated. (U.S.A)
- Alstom S.A (France)
- Rolls-Royce Holdings Plc. (U.K)
- MAN Diesel & Turbo. (Germany)
- Ansaldo Energia (Italy)
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Drivers and Constraints Impacting the Market
The gas turbine market is estimated to expand at a robust pace during the assessment period owing to several growth factors. With the increasing need for reliable electric supply and investment in producing generating capacity, the global market for gas turbine is considered to flourish during the assessment period. Gas turbines are extensively accepted globally as they possess very power-to-weight ratio as compared to the reciprocating engines. With the augmenting demand for uninterrupted power supply in developing economies such as India and China coupled with the support for transition towards low carbon economies are anticipated to influence the market growth to a great extent. Additionally, accelerating concern regarding the environment, discoveries of new gas field, rising need for efficient power generation, strict emission norms, and carbon taxing mechanisms are some of the factors likely to enhance the competitiveness of gas utilization for generating power, thereby influencing the market growth to a large extent.
On the flip side, continuous distress over the supply of stable natural gas coupled with the fluctuation of in international trade of natural gas is some of the major concerns considered to dampen the market growth during the appraisal period. Moreover, with the proliferation of renewables, low coal prices, and high adoption of coal in order to meet the intermediate need for power, the market is presumed to experience a slowdown.
Global Gas Turbine Market: Segmental Analysis
The Global Gas Turbine Market has been segmented on the basis of Product Type, Capacity, Technology, and Application.
By Mode of Product Type : aero-derivative and heavy duty.
By Mode of Capacity : less than 70MW, 70-300 MW, and more than 300 MW.
By Mode of Technology : combined cycle and open cycle.
By Mode of Application : into oil & gas, power generation, marine, aviation, and industrial.
Intended Audience
- Distributer & Supplier companies
- End Users
- Consultants and Investment bankers
- Government as well as Independent Regulatory Authorities
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Table of Contents
1 Executive Summary
2 Research Methodology
2.1 Scope of the Study
2.2 Research Process
2.3 Market size Estimation
2.4 Forecast Model
3 Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
3.3 Supply/Value Chain Analysis
3.4 Porter’s Five Forces Analysis
4 Global Gas Turbine Market, By Product Type
4.1 Introduction
4.2 Heavy Duty
4.3 Aeroderivative
Continue ……….
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