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.
U.S. gas
turbine market revenue by application, 2014-2025 (USD Million)
Browse full
research report on 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.
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
- Germany
- UK
- France
- Asia
Pacific
- China
- India
- Japan
- Middle East
and Africa
- Saudi
Arabia
- Central
& South America
- 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.
No comments:
Post a Comment