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.
Full research report on gas turbine market analysis:
http://www.grandviewresearch.com/industry-analysis/gas-turbine-market
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.
View more reports of this category by Grand
View Research at: https://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
o 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
Browse Press Release of this Report:
https://www.grandviewresearch.com/press-release/global-gas-turbine-market
https://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.
For more information: https://www.grandviewresearch.com/