This Multifuel Gas Turbine market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Multifuel Gas Turbine market.
Multifuel Gas Turbine Market: Introduction
Gas turbine or combustion turbines work on the principal of internal combustion engine. Gas turbines are comprised of three main parts, namely compressor, turbine, and combustion chamber. However, forth component is added, i.e., turboprop or turbofan to increase the efficiency of the gas turbine as well as to increase the conversion rate of electricity generation. In the power & gas industry, gas turbines are more preferred than steam turbines owing to availability of natural gas and stringent environmental regulations. Furthermore, technological advancements in gas turbines have made it a suitable alternative for power generation with clean source. Also, gas turbine helps to replace the ageing fleet of thermal power plants that are engaged in the production of electric energy from coal or oil. Moreover, rising demand for energy coupled with substantial increase in the standard fuel prices have translated into demand for the greater fuel flexibility in the gas turbines. Owing to this, the demand for multifuel gas turbine has increased across the globe. Multifuel gas turbines offer several advantages such as high efficiency, clean power generation even with fossil fuel, can be used with renewable energy system and capability for load ramp rate, among others
Market Growth Analysis
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
Increasing demand for uninterrupted power in the industrial, residential and commercial sectors coupled with the depleting conventional resources and rising environmental concerns in developing and developed countries are in turn expected to drive the demand for multifuel turbines in power plants across the globe. Upsurge in the demand for power, especially in off-grid sectors, industrial sector, and poor grid infrastructure in emerging economics is expected to boost the demand for multi-fuel gas turbines across the globe. Moreover, increasing demand for flexible power generating systems and decommissioning of ageing power plants will help drive the multifuel gas turbine market. Several countries across the globe are focusing on emission control, which leads to increase in use of clean sources and consequently helps the growth of the multifuel gas turbine market. However, technological constraints over the use of bio-based fuels hamper the growth of the multifuel gas turbine market
Multifuel Gas Turbine Market: Segmentation
Multifuel Gas Turbine Market: Regional Outlook
In terms of demand, North America followed by Europe is expected to dominate the global multifuel gas turbine market. The growth of the North America market is mainly attributed by the expansion & restructuring of power plants, government initiatives for emission control and exploration of shale gas in the region, among others. In Europe, restructuring of existing and upcoming new gas plant projects will bolster the demand for multifuel gas turbines. Upcoming new gas power plants in Asia pacific, in order to cater increasing demand for electricity owing to significant growth of industrial sector, infrastructure development and increasing urbanisation help drive the multifuel gas turbine market over the forecast period. The Middle East & Africa and Latin America multifuel gas turbine markets are expected to register steady growths over the forecast period.
Multifuel Gas Turbine Market: Key Participants
Examples of some of the market participants in the global multifuel gas turbine market identified across the value chain include: Siemens AG, General Electric, Ansaldo Energia S.p.A., Mitsubishi Heavy Industries, Ltd. And Kawasaki Heavy Industries, Ltd., among others. Global multifuel gas turbine market is a highly consolidate market. Significant share of global market is dominated by the major manufacturers.
The research report presents a comprehensive assessment of the 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 research report provides analysis and information according to market segments such as geographies, application, and industry.
The 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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On the basis of power output, the global multifuel gas turbine market can be segmented as:
- Low output (below 100 MW)
- Medium output (100 MW – 300 MW)
- Heavy output (< 300 MW)
On the basis of application, the global multifuel gas turbine market can be segmented as:
- Energy & power
- Public Infrastructure
- Public Infrastructure
- Oil & Gas
On the basis of source, the global multifuel gas turbine market can be segmented as:
The report covers exhaust analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
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)
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current, and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Frequently Asked Questions
What research methodology is used to develop the Multifuel Gas Turbine Market report?
- FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
- These approaches include accumulating data from both primary and secondary sources
- Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the Multifuel Gas Turbine Market. This is supported by a comprehensive literature analysis of information gathered through secondary sources
- Analysis of several middle market stakeholders for country-wise data
What else does FMI offer apart from Multifuel Gas Turbine Market report?
In addition to up-to-date market figures and customized of the Multifuel Gas Turbine Market, FMI offer consulting services to help businesses within industry navigate challenges and take well-informed decisions amidst the breakneck competition.
How do you define competitors based on market structure? What aspects about a competitor are included in the company profile section?
- Most of the competitors are segregated according to their market share in 'Tier' wise statures.
- Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.