According to MarketIntelReports “Global Gas Turbines Industry 2016 Market Research Report”
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The gas turbines are engines used at the power plant that generates electricity. The gas turbine generator also known as combustion engine can change liquid fluids and natural gases to mechanical energy. It is available in sizes ranging from 500 kilowatts to 250 megawatts. During the past years, the gas turbines for power generation were used for generating electricity. Today the gas turbine power generation is one of the most widely used power generating technologies. There are many ways in which it can be used for the production of electricity and other forms of valuable energy. The gas turbine system is widely available, compact, more efficient, and less expensive and helps in meeting the global energy requirements.
Scope & Regional Forecast of the Gas Turbines Market
The Gas Turbines Market is driven by factors such as increasing efficiency and durability of gas turbines. A strict Carbon emission regulation across the world is expected to propel the demand for gas turbine uses in the future. Advancement in technology and low power generating cost are the factors responsible for driving the market. Extended start up time, less efficiency at idle speed and low sensitivity to modification in power demand are expected to restrict the growth of the market.
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When compared to the combustion based power generation applications, the gas turbine design is efficient and gives lower Carbon emissions. The implementation of various climate change initiatives and as well as regulations to cut down GHG emissions will expand the Gas Turbines Market potential. US has been a major market over the past many years. The availability of shale gas and presence of manufacturers in the region support the growth of the natural gas turbine power plant. Emerging economies such as India and China are expected to fuel the growth of the market in the future.
Europe is expected to be the second largest industry in the Gas Turbines Market. The reason can be attributed to the rising preference towards gas fired combined power plants followed by the steady phase out of nuclear power plants in the region. Asia Pacific is expected to maintain its leading position due to rapid industrialization. China promotes the use of gas turbine technology to reduce dependence on coal for power generation.
Segmentations & Key Players Involved in the Gas Turbines Market
The Gas Turbines Market can be broken down into various segments as follows:
- Type- Heavy duty and Aeroderivative.
- Application- Oil & gas, Power generation, and other industries.
- Region- North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
Some of the key players involved in the Gas Turbines Market are as follows:
- Ansaldo Energia
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