Global Industrial Gas Turbine Market By Application Type (Oil & Gas, Power Generation, and Other Industrial Applications); By Product (Heavy Duty and Aeroderivative); and Region –Analysis of Market Size, Share & Trends for 2016 – 2019 and Forecasts to 2030
Industrial gas turbine is a combustion motor, which uses different sources such as natural gas or fluid fuels to produce mechanical energy. This mechanical energy produced is used to power an integrated power generator. In lowering carbon emissions turbines play a significant role. They have lower emissions compared to other combustion-based energy generation systems. Their demand is estimated to grow in the coming years, with the introduction of various policies on climate change and legislation to minimize GHGs emissions.
Thisi report anticipates the Industrial Gas Turbine market to surpass USD XX Billion by 2030, which is valued at XX billion in 2019 at a compound annual growth rate of XX%. This growth can be attributed to expanding energy demand, the adequacy of energy-efficient technology, surging demand for natural gas power plants, the effect of the shale gas revolution and a decrease in carbon dioxide emissions. Growing cash flow to replace conventional energy systems with improved units would further accelerate market demand.
Global Industrial Gas Turbine Market: Segments
Global Industrial Gas Turbine Market has been segmented on the basis of product type, application type and by location. It has been further segmented on the basis of region into North America, Europe, Asia-Pacific, Mid East and Africa.
By Product Type (in %), global Industrial Gas Turbine Market, 2019
Aeroderivative dominated the market with over XX% of the market share in 2019
Global Industrial Gas Turbine Market is segmented by product into: Heavy Duty and Aeroderivative
Owing to the high accessibility of highly scalable and mobile technologies, aeroderivative units have gained considerable traction in the industrial gas turbine industry. The product line includes a range of applications such as marine propulsion, electricity and local heating. In addition, the manufacturers’ emphasis on cost productivity and the development of high capacity turbines has appeared to be technical advances compared to the conventional aero derivative systems.
Global Industrial Gas Turbine Market: Market Dynamics
• Environmental issues:
Growing environmental issues and stringent regulatory commitments to minimize GHG emissions have centered on energy conservation, which would have a beneficial impact on the market worldwide. Due to Raising environmental concerns, gas turbines have emerged as a critical factor for power & heat delivery systems.
• Strict government policies and law
Strict government policies and law and order to carry out the energy production by gas turbines in the industry hinders the market growth over the forecasted period
Global Industrial Gas Turbine Market: Regions
The North America is anticipated to dominate the market with XX% market share in 2019 growing at a CAGR of XX% over the forecasted period.
The North American market is anticipated to witness highest growth due to the growing emphasis on Combined Cycle Gas Turbine (CCGT) capacity additions, the availability of enormous gas reserves, improved production and a lower build-up period helps power generation by CCGT.
Asia Pacific: China, Japan, India, and Rest of Asia Pacific
Europe: Germany, the UK, France, and Rest of Europe
North America: The US, Mexico, and Canada
Latin America: Brazil and Rest of Latin America
Middle East & Africa: GCC Countries and Rest of Middle East & Africa
Global Industrial Gas Turbine Market: Competitive landscape
These actors adopt policies to further improve their footprints in the market, such as providing multi-annual services contracts for current and emerging power plant shareholders. Competition among the leading suppliers is based on their gas turbines ‘productivity and effectiveness, as well as their customers’ associated services. In order to boost its market dominance due to the rapid technological change and fierce competition, the technical capability and R&D are one of the most important focus areas of industry.
Global Industrial Gas Turbine Market: Key Players
• Ansaldo Energia
o Company Overview
o Business Strategy
o Key Product Offerings
o Financial Performance
o Key Performance Indicators
o Risk Analysis
o Recent Development
o Regional Presence
o SWOT Analysis
• Vericor Power Systems
• Opra Turbines B.V
• Harbin Electric International Company Limited
• General Electric
• Man Diesel & Turbo
• Mitsubishi Hitachi Power Systems Ltd.
• Kawasaki Heavy Industries Ltd
• Other prominent players
Global Industrial Gas Turbine market report also contains analysis on:
• Industrial Gas Turbine Market Segments:
o By Product:
o By Application type:
Oil & gas
Other industrial applications
• Industrial Gas Turbine Market Dynamics
• Industrial Gas Turbine Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints