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Industrial Gas Turbine Market

Market Insights on Industrial Gas Turbine covering sales outlook, demand forecast & up-to-date key trends

Industrial Gas Turbine Market: The Surge in Reliable Electricity Demand and the Need of Eliminating Emission to Shape the Market

Industrial Gas Turbine: Introduction

A gas turbine, an internal combustion engine, is the heart of a power plant that produces electricity by converting liquefied or natural gas into mechanical energy. Industrial gas turbines are used to power ships, aircrafts, trains, generators, gas compressors, pumps, and others.

The industrial gas turbine are available in wide array of capacity and most of the final solutions are customized according the end-user demand. The global industrial gas turbine market is led by the major industrial players including Mitsubishi Hitachi Power Systems, Siemens, and General Electric among others.

Industrial Gas Turbine: Market Drivers and Challenges

The power generation sector has a great social and economic impact, thus, manufacturers are under pressure to enhance efficiency of power plants with cost-effective solutions and minimum environmental impact. Thereby, the industrial gas turbine market is stipulated to witness optimistic grow over the projected period.  

The industrial gas turbine yield power efficiently when compared to the conventional turbines which is the primary factor driving the demand for industrial gas turbines. The conventional turbines in power generation plants are usually coal fired that emit substantial amount of VOCs (volatile organic compounds) resulting into emission of greenhouse gases.

According to IEA (International Energy Agency) coal-fired thermal power plants are the one of the major contributor of VOCs thus the need of move towards cleaner source of electricity generation is expected to ramp up, in turn, creating market space for industrial gas turbines.

The oil & gas industry has witnessed sinusoidal growth in the past, and is expected to foresee similar growth in the coming years as well. Industrial gas turbines are one of the major asset employed in the oil and gas industry, and the growing demand for cleaner assets in the industry is anticipated to expand the new installations of industrial gas turbines over the forecast period.

With the substantial technological development the electricity access has widened yet there are millions of people who are still facing issues and have limited or no reliable electricity access. Hence, with the penetration of renewable source of energy and increasing need of reliable electricity access the said market is anticipated to foresee significant traction over the years to come. 

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Industrial Gas Turbine: Regional Market Outlook

Among the regions, North America is estimated to lead the pack in the global industrial gas turbine market owing to the expanding mining and exploration activities in the region. Slower economic development and deficient power generation infrastructure are couple of the aspects that are estimated to present excellent opportunities in developing and under-developed regions such as the Middle East and Africa.  

Regulations pertaining to adoption of renewables to shape the industrial gas turbine market across all the regions. For instance, according to the directive of European Parliament, the region plans to move towards lowest-carbon economy by the end of 2030. Amidst countries, both China and India are the major energy consumers with different dynamics. It is projected that China will become less energy intensive and the growth will be on the slower side.

On the flip side, the accelerating industrialization in India is estimated to drive up the demand for energy consumption, in turn, driving the demand for industrial gas turbine market. Rest of the regions as well are poised to create significant market scope for the industrial gas turbine market during the forecast period.

Industrial Gas Turbine: Key Market Players

Some of the market participants in the global industrial gas turbine market identified across the value chain include:

  • GENERAL ELECTRIC
  • Siemens
  • Mitsubishi Hitachi Power Systems, Ltd.
  • Rolls-Royce plc
  • OPRA Turbines
  • Kawasaki Heavy Industries, Ltd.
  • Vericor Power Systems
  • PW Power Systems LLC

The industrial gas turbine research report presents a comprehensive assessment of the industrial gas turbine market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.

It also contains projections using a suitable set of assumptions and methodologies. The industrial gas turbine research report provides analysis and information according to market segments, such as geographies, application, and industry.

Nikhil Kaitwade
Principal Consultant
LinkedIn
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The Industrial Gas Turbine report covers exhaustive analysis on

  • Industrial Gas Turbine Market Segments
  • Industrial Gas Turbine Market Dynamics
  • Industrial Gas Turbine Market Size
  • Industrial Gas Turbine Supply & Demand
  • Current Trends/Issues/Challenges in the Industrial Gas Turbine market
  • Competition & Companies involved in the Industrial Gas Turbine market
  • Industrial Gas Turbine Technology
  • Value Chain of market

Industrial Gas Turbine regional analysis includes

  • North America (U.S., Canada)
  • Latin America (Mexico, Brazil)
  • Western Europe (Germany, Italy, France, U.K, Spain)
  • Eastern Europe (Poland, Russia)
  • Asia Pacific (China, India, ASEAN, Australia & New Zealand)
  • Japan
  • Middle East and Africa (GCC Countries, S. Africa, Northern Africa)

The global report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.

The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

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Industrial Gas Turbine: Market Segmentation

On the basis of rating, the global Industrial Gas Turbine market can be segmented into the following:

  • Below 50 MW
  • Between 50-100 MW
  • Between 100-400 MW
  • Above 400 MW

On the basis of cycle, the global Industrial Gas Turbine market can be segmented into the following:

  • Simple Cycle Industrial Gas Turbine
  • Combined Cycle Industrial Gas Turbine

On the basis of end use industries, the global Industrial Gas Turbine market can be segmented into the following:

  • Power Generation
  • Oil & Gas
  • Metal & Mining
  • Manufacturing Industries

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Nikhil Kaitwade
Principal Consultant
LinkedIn
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Industrial Gas Turbine Market