The global gas turbine market size is expected to reach USD 30.08
billion by 2025, according to a new report by Grand View Research, Inc. The
increasing availability of natural gas for power generation, expanding oil
& gas industry, awareness regarding flexible resources for energy
production based on renewable energy sources are some of the key factors
expected to play a significant role in propelling the global demand.
Even though the demand
for natural gas as a fuel for new capacity additions is fast catching up, its
limited availability is expected to pose a significant challenge. Geopolitical
issues are another major factor, which is likely to affect the natural gas
supply.
Turbines with capacity
≤200 MW are likely to maintain the highest market share due to rising demand
for flexible power generating units and rapidly growing oil & gas industry.
Easily available financing prospects for small power plants are another factor
supporting the growth of low capacity turbines.
The market is
consolidated with top five market players accounting for over 65% market share.
Being a mature market, market participants focus on post-sales services to
remain competitive. Mergers and acquisition is a key strategy implemented. One
such example is the acquisition of Alstom’s power and grid business by GE.
Browse full report by Grand View Research
: http://www.grandviewresearch.com/industry-analysis/gas-turbine-market
Further key
findings from the report suggest:
·
The global gas turbine
market demand was over 60,000MW in 2015 and is expected to grow at an estimated
CAGR of 4.3% from 2016 to 2025
·
Power generation was
the largest application segment in 2015 and is likely to continue the trend
during the forecast period
·
Due to Fukushima
nuclear disaster, Japanese government is now focusing on R&D for combined
cycle power plant
·
Iraq government tied
up with General Electric to set up 3,000MW gas power plant
·
Asia Pacific is
expected to grow at a CAGR of 5.4% in terms of revenue over the forecast period
and is expected to be the fastest growing region
·
Europe is expected to
grow at an estimated CAGR of 4.9% in terms of revenue from 2016 to 2025
·
Major players
operating in the global gas turbine market include General Electric Company,
Siemens AG, Kawasaki Heavy Industries, Ltd., Ansaldo Energia S.P.A., Bharat
Heavy Electricals Limited, Opra Turbines B.V., Solar Turbines Incorporated,
etc.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/conventional-energy
Grand View Research has
segmented the global gas turbine market on the basis of capacity, technology,
application and region:
Capacity
Outlook (Capacity, Mega Watts; Revenue, USD Million, 2014 - 2025)
·
≤200 MW
·
>200 MW
Technology
Outlook (Capacity, Mega Watts; Revenue, USD Million, 2014 - 2025)
·
Open Cycle
·
Combined Cycle
Application
Outlook (Capacity, Mega Watts; Revenue, USD Million, 2014 - 2025)
·
Power Generation
·
Industrial
·
Aviation
Regional Outlook
(Capacity, Mega Watts; Revenue, USD Million, 2014 - 2025)
·
North America
- U.S
·
Europe
o Germany
o UK
o France
·
Asia Pacific
o China
o India
o Japan
·
Middle East and Africa
o Saudi Arabia
·
Central & South
America
o Brazil
Access press release by Grand View Research: http://www.grandviewresearch.com/press-release/global-gas-turbine-market
About Grand View Research
Grand View Research,
Inc. is a U.S. based market research and consulting company, registered in the
State of California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market intelligence
studies ensuring relevant and fact-based research across a range of industries,
from technology to chemicals, materials and healthcare.
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