Global Gas Turbine Market Expected to Expand at a CAGR of 4.0% between 2019 and 2027: Industry Probe

According to a new market report published by Industry Probe (www.industryprobe.com) titled ‘Gas Turbine Market (Type: Aeroderivative and Heavy Duty Gas Turbine; Output Range: 1 to 40 MW, 40 MW to 120 MW, and 120 MW and Above; Fuel Type: Diesel Fuel, Heavy Fuel, Dual Fuel, and Natural Gas; Application: Power Generation, Mechanical Drive, and Others) – Global Industry Dynamics 2018-19, Trends and Forecast, 2020–2027’ the global gas turbine market was valued at US$ 13,432.4 Mn in 2018 and is expected to expand at a CAGR of 4.0% from 2019 to 2027.

As per the published report, a major contributor to the gas turbine market’s growth opportunity exists in the industry’s continued advancement in mobile gas turbine and more efficient technology. As new technologies continue to enter the market, power generation industry need to have the latest equipment in order to be more efficient. 120 MW and Above output range are anticipated to garner major share of the global gas turbine market as they are widely preferred for large power generation projects worldwide. Manufacturers of gas turbines are projected to extend their product lines with new additions and expand their regional network with a view to gain strong market share and improve their brand image.

Gas Turbine industry analysis

The report anticipates gas turbines playing an increasingly important role in the pursuit of achieving national objectives related to energy and the environment. Owing to this fact, governments in countries such as the China, U.S., and Japan are supporting the gas turbine industry, which in turn is expected to drive the global gas turbine market. In the long run, gas turbines are anticipated to be an important source of power generation in the region. The support for renewables, stringent emission norms, restricted use of nuclear technology, the phasing out of coal, development of low carbon economies, and the establishment of robust infrastructure would all help to create significant growth opportunities for the gas turbine market in the region.

The report Industry Probe has segmented the global gas turbine market in terms of type, fuel type, application and region. In terms of output range, 120 MW and above gas turbines held major share of 39.2% globally in 2018. The greater fuel efficiency along with capability of large capacity power generation would favor the expansion of 120 MW and above gas turbine market share. These high capacity turbines have been increasingly getting deployed across several power generation and manufacturing units, on account of its environmental proximity, flexibility in energy production, and longer life cycle. In terms of type, heavy duty gas turbine segment held major share of 67.5% globally in 2018. Heavy duty gas turbines are widely preferred for power generation due to its high capacity operations and economical cost structure. 

The gas turbine market is dominated by several players who are focused on the development of new products to cater to the changing consumer preferences.

The report includes the below mentioned pointers of major players operating in the Gas Turbine market:

Ø  Competition Matrix

Ø  Company Overview

Ø  Product Profiling

Ø  Market Share Analysis (2018)

Ø  Business Strategies / Recent Developments

§  Technological advancements

§   Key mergers and acquisitions

§  Expansion strategies

Ø  Company Financials

Some of the prominent players profiled in this report to give a better competitive analysis of the global gas turbine market include General Electric, Siemens, Mitsubishi Hitachi Power Systems, Ltd, Ansaldo Energia, Kawasaki Heavy Industries, Ltd, Capstone Turbine Corporation, MAN Energy Solutions, OPRA Turbines, Caterpillar, and Centrax Gas Turbines.

Originally published on- https://industryinsights.tech/global-gas-turbine-market-expected-to-expand-at-a-cagr-of-4-0/

About Us

Industry Probe is a global market intelligence and advisory firm with an unwavering purpose to help businesses achieve strategic objectives through a varied range of offerings. Based on a unique amalgamation of our big data technology and human intelligence, our services are dedicated to serve the businesses operating in the consumer goods and industrial machinery sectors. Our offerings comprise syndicated research, strategic consulting & advisory services, competitive intelligence, and full-time engagement to bring true & actionable insights into our clients’ business environment. Combining research & technology adoption, playing the perfect mix of the best data, and centered on consumer goods & industrial machinery sectors, Industry Probe believes in targeting one industry at a time.

Contact

1441 Broadway, 6th Floor – # 6131
New York, NY 10018

Contact: +1-917-985-8551

Email: sales@industryprobe.com

Website: https://www.industryprobe.com/

 

Comments

Post a Comment

Popular posts from this blog

Global Olive Market – Industry Analysis and Forecast (2020-2028) – by Key Vendors, Market Outlook

Image
Black olives are a great source of vitamin E, which has an excellent capability to neutralize free radicals in body fat. Particularly when working with the steady monounsaturated fats found in olives, vitamin E can make cellular processes more reliable. the processes such as mitochondrial energy creation are not well protected, the free radicals produced can cause oxidation, damaging a cell's mitochondria, and preventing the cell from producing enough energy to supply its needs. If the DNA of a cell is damaged, it may well mutate and become cancerous. As per the study, a diet supplemented with olive oil leads to a lower risk of colon cancer, almost as low a risk as a diet rich in fish oil. These are the factors driving the global olive market . Black olives are very high in iron. The strength of red blood cells to carry oxygen throughout the body is due to the presence of iron in the blood. The lack of iron causes tissues to inadequate oxygen, which makes the body cold and weak. Ir
Read more

Tanning Products Market– Industry Insights, Revenue Generation, Growth and Forecast By 2028

Image
Tanning is a process to darken to tan the skin colour, which is a result of exposure to ultraviolet (UV) radiation from sunlight or artificial sources like tanning products. Consumers are actively utilizing self-tanning products to get a natural tan through indoor home sessions. While outdoor tanning processes are time-consuming, harmful, and discomforting, professional tanning services are expensive. Because of this backdrop, the demand for self-tanning products continues to gain traction. Increasing awareness about skin cancer and lifestyle changes are anticipated to boost the global market for tanning products shortly. Due to harmful UV rays from sunbathing, and its risk for causing skin cancer and skin issues, tanning products are improved to avoid such risk which is a factor for the growth in sales. Moreover, tanning products unlike sun tanning provide even and instant tanning. These products also come in several shades, which is significantly contributing to the growth of the gl
Read more

Sports Supplement Market Trends, Size, Share, Status, Analysis And Forecast To 2028

Image
Sports supplement is comprised of a nutritional diet with regards to improving people's athletic performance. Sports supplements are regarded as dietary supplements that are taken by mouth to support the diet. Progress of participation in sports with other fitness activities and increased health care spending is expected to boost the global market for sports supplements . Sports supplements are essentially consumed by athletes, and the evolution in lifestyle has led to enhanced adoption of sports supplements by lifestyle consumers. Thus, this growing demand is significantly managing the growth of the sports supplements market. Market players are focusing on the adoption of organic and natural ingredients in the product development and expanding the distribution channel, which is expected to increase the demand across the globe. This rise in consumer demand for organic or natural products and the desire of producers to replace synthetic, non-organic ingredients with natural variants
Read more