The ‘Global Industrial Gas Turbine Market Price, Size, Demand, Report and Forecast 2022-2027’ by Expert Market Research gives an extensive outlook of the global industrial gas turbine market, assessing the market on the basis of its segments like capacities, cycles, sectors, and major regions.

Industrial Gas Turbine Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast

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The key highlights of the report include:

Market Overview (2017-2027)

Historical Market Size (2021): USD 20.83 billion

Forecast CAGR (2022-2027): 3.5%

Gas turbines are integral to power plants which fuel the production of electricity to meet the demand from various industries including automotive, and aerospace and defence, among others. There are increasing efforts by power companies to improve the supply chain of electricity and to facilitate efficient customisation of gas turbines to reduce the prices of energy.

Additionally, the increasing demand for clean and affordable energy options is leading to an escalation in the popularity of gas turbines across the power plants. Gas turbines are crucial for the oil and gas sector to provide power to oil platforms.

At a regional level, the Asia Pacific accounts for a significant share in the industrial gas turbine market. Increasing energy requirements across the emerging economies such as India and China, further supported by the large population base is bolstering the deployment of gas turbines in power plants.

Industrial Gas Turbine Industry Definition and Major Segments

An Industrial gas turbine is defined as a combustion engine used in the industrial sector which expands natural gas to produce energy. Inside a gas turbine, there is a combustion chamber in which combustion of natural gas takes place, which leads to the generation of electricity. This electricity is then converted into work by the gas turbine.

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Based on capacity, the market can be segmented into:

1 to 40 MW
41 to 120 MW
121 to 300 MW
Above 300 MW

The market can be bifurcated based on cycle into:

Simple Cycle
Combined Cycle

On the basis of sector, the industrial gas turbine market has been segmented into:

Power
Oil and Gas
Others

On the basis of region, the market can be categorised into:

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

Industrial Gas Turbine Market Trends

The key trends in the industrial gas turbine market include the growing research and development activities by the major market players to expand their offerings. This includes improving efficiency, propelling power output, and reducing carbon footprint. In addition to this, the stringent government regulations aimed towards curbing pollution are further leading to progressive product innovations.

 

Key Market Players

The major players in the Industrial gas turbine market report are:

Ansaldo Energia S.p.A
Kawasaki Heavy Industries, Ltd.
Solar Turbines Incorporated
Siemens AG
Vericor Power Systems
OPRA Technologies B.V.
General Electric Company
Others

The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

The report studies the latest updates in the market, along with their impact across the market.

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