Gas Turbine Market Analysis From 2019 To 2023 is latest market research study on Global Gas Turbine Market published by Marker Research Future. According to report Global Gas Turbine Market valuation at a moderate 4.80% CAGR over the forecast period. Market for Gas Turbine Industry is segmented by based on technology, capacity, application, and region. The gas turbine market is slated to expand at a robust pace during the assessment period owing to several growth factors.
The key market players of the global Gas Turbine market are Siemens (Germany), General Electric (U.S.), Mitsubishi Heavy Industries Ltd. (Japan), Kawasaki Heavy Industries, Ltd. (Japan), Alstom S.A (France), Bharat Heavy Electricals Limited. (India), Rolls-Royce Holdings plc. (U.K), Ansaldo Energia, (Italy), Harbin Electric Company Limited. (China), Vericor Power Systems. (Georgia), MAN Diesel & Turbo. (Germany), and Solar Turbines Incorporated. (U.S.A).
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With the increasing need for dependable electric supply and investment in producing generating capacity, the global market for gas turbines is noted to flourish during the assessment period. Gas turbines are widely accepted since they possess a power-to-weight ratio as compared to the reciprocating engines. , expanding demand for uninterrupted power supply in developing economies such as India and China, along with the support for the transition towards low carbon economies, are anticipated to influence the gas turbine market growth to a greater extent. In addition, accelerating concern regarding the environment, discoveries of new gas fields, growing need for efficient power generation, stringent emission norms, and carbon taxing devices are some of the influential factors likely to improve the competitiveness of gas utilization for producing power, thereby influencing the market growth to a large extent.
On the other side, constant distress over the supply of stable natural gas coupled with the fluctuation of in global trade of natural gas is some of the significant concerns noted to hinder the market growth during the assessment 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 has been segmented based on technology, capacity, application, and region. Based on technology, the market is bifurcated into an open cycle and combined cycle. The open cycle segment is fueled by factors such as lower warm-up time, compact size, lightweight, operational versatility, quick start the and lesser, dependency on cooling water. Thus, it is expected to witness a higher growth rate and record a substantial market valuation over the review period. The global Gas Turbine market is further segmented based on applications, including industrial, power generation, and aviation. Power generation is expected to be the most significant market during the forecast period due to growing energy demand along with favorable regulatory towards the integration of sustainable energy infrastructure.
Geographically, the global gas turbine market has been studied in regions, namely, Asia Pacific, North America, Europe, and the Rest-of-the-World.
Among all these regions, the Asia-Pacific region is noted to be the leading regional market for gas turbines across the globe and is expected to register a significant market share over the assessment period. The progress is attributed to the rapid urbanization and industrialization, along with the fast-economic growth in developing nations such as China and India. China is likely to gain momentum in this region due to the development of a large-scale gas-fired power generating stations.
The North American region is acknowledged as one of the significant regions for the global gas turbine market and is slated to register a considerable market share during the assessment period owing to the increasing growth in shale gas production in the U.S. shale revolution is likely to progress, and its effects are assessed to amplify along with the rising LNG supplies.
1 Executive Summary 11
2 Introduction 12
2.1 Definition 12
2.2 Scope Of The Study 12
2.3 Assumptions 12
2.4 Key Buying Criteria 13
2.5 Market Structure 13
3 Research Methodology 14
3.1 Research Process 14
3.2 Primary Research 14
3.3 Secondary Research 15
3.4 Market Size Estimation 15
3.5 Forecast Model 17
4 Market Factor Analysis 18
4.1 Porter’s Five Forces Analysis 18
4.1.1 Threat Of New Entrants 18
4.1.2 Bargaining Power Of Suppliers 19
4.1.3 Bargaining Power Of Buyers 19
4.1.4 Threat Of Substitutes 19
4.1.5 Rivalry 19
4.2 Supply Chain Analysis 20
5 Patent Trends 22
5.1 Patent Trends 22
6 Market Dynamics 27
List of Tables:
TABLE 1 GLOBAL GAS TURBINE MARKET: BY REGION, 2017-2023
TABLE 2 NORTH AMERICA GAS TURBINE MARKET: BY COUNTRY, 2017-2023
TABLE 3 EUROPE GAS TURBINE MARKET: BY COUNTRY, 2017-2023
TABLE 4 ASIA PACIFIC GAS TURBINE MARKET: BY COUNTRY, 2017-2023
TABLE 5 ROW GAS TURBINE MARKET: BY COUNTRY, 2017-2023
TABLE 6 GLOBAL GAS TURBINE MARKET, BY TYPE, BY REGIONS, 2017-2023
TABLE 7 NORTH AMERICA GAS TURBINE MARKET, BY TYPE, BY COUNTRY, 2017-2023
TABLE 8 EUROPE GAS TURBINE MARKET, BY RESIN TYPE, BY COUNTRY, 2017-2023
TABLE 9 ASIA PACIFIC GAS TURBINE MARKET BY TYPE, BY COUNTRY, 2017-2023
TABLE 10 ROW GAS TURBINE MARKET BY TYPE, BY COUNTRY, 2017-2023
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