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 th...