(2018 – 2023) Gas Turbine Market is expected to grow and will hit a CAGR of XX% during the forecast period
Gas Turbine Market research report (2018 – 2023) studies market insights, List of major Key players, buyers, threats of new entrants and substitute products. Also, Gas Turbine market includes the various market dynamics like Drivers, Restraints, and Opportunities globally. The research report involved the various affecting factors like market growth, market share, competitive intelligence and growth opportunity.
“Gas Turbine Market report is expected to register a CAGR of XX% over a five years forecast period.”
List of Major Key players operating in the Global Gas Turbine Market are –
- General Electric
- Siemens AG
- Mitsubishi Heavy Industries Ltd
- Harbin Electric International Company Limited
- Bharat Heavy Electricals Limited
- Kawasaki Heavy Industries
- Ansaldo Energia SPA
- Solar Turbines
- Man Diesel and Turbo SE
- MTU Aero Engines Ag / Vericor Power Systems LLC
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The availability of low-cost natural gas and intensifying environmental regulations have resulted in a shift toward gas-based power generation, which, in turn, is leading to the growth in gas turbine market. The need for clean power generating assets and decommissioning of aging power stations have further bolstered the trend. However, the increasing shift toward renewable energy sources, such as solar and wind, poses a major challenge for the growth of gas-based power generation. These renewable sources of energy are likely to hinder the market for gas turbines globally, during the forecast period.
Power Sector – Major Contributor to Market Growth
The power sector accounts for a major share in the market studied, with widespread application of gas turbines for power generation. The improvements in natural gas supply chain and power generation technology are expected to augment the share of the power sector, during the forecast period.
In the recent years, the development of shale gas resources in the United States has led to the decline in the gas prices, allowing gas-fired and combined-cycle plants to play a crucial role in power generation in the region. The continued transition away from coal has resulted in increased investments in the gas-based power plants, thereby spurring the demand for gas turbines.
Asia-Pacific – Potential Market
Globally, Asia-Pacific has the largest market for gas turbines, with China and India being the hotspot for demand. The favorable government support, growing demand for electricity, and rapid expansion in the industrial and infrastructure development activities are some of the significant factors escalating the demand for gas turbines in the region. Additionally, the transition from nuclear power generation to gas-fired power generation presents a huge market opportunity for the growth of gas turbine market in Asia-Pacific.
Increasing Growth in Shale Gas Production Accelerates Growth in the US
According to the International Energy Agency (IEA), the global natural gas market is expected to undergo a significant transformation, on account of new supplies coming from the United States, to fulfill the growing demand in developing economies. In 2016, natural gas had recorded a rapid paced growth in the North American region, as compared to oil and coal, owing to the boom in US shale gas production and the rapid LNG expansion. Moreover, the US shale revolution is poised to continue recording progress, and its effects are expected to be amplified by the rising LNG supplies. Therefore, the increasing growth in shale gas production and the rising demand for electricity are expected to drive the demand for gas turbines during the forecast period.
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Global Gas Turbine Market: Regional Segment Analysis (Regional Production Volume, Consumption Volume, Revenue and Growth Rate 2018-2023):
- North America (United States, Canada and Mexico)
- Europe (Germany, UK, France, Italy, Russia, Spain and Benelux)
- Asia Pacific (China, Japan, India, Southeast Asia and Australia)
- Latin America (Brazil, Argentina and Colombia)
- The Middle East and Africa
Key Questions Answered About Gas Turbine Market:
- What is the market size and growth rate of the global and regional market by various segments?
- What is the market size and growth rate of the Gas Turbine market for selective countries?
- Which region or sub-segment is selected is expected to drive the market in the forecast period?
- What factors are estimated to drive and restrain the market growth?
- What are the key technological and Gas Turbine market trends shaping the market?
- What are the key companies operating in the market?
- Which company accounted for the highest market share?
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Reasons to Purchase Gas Turbine Market Report:
- The report analyses how stringent emission control norms will drive the global Gas Turbine market.
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
- Study on the product type that is expected to dominate the market.
- Study on the regions that are expected to witness the fastest growth during the forecast period.
- Identify the latest developments, market shares and strategies employed by the major Gas Turbine market players.
- 3 months’ analyst support along with the Market Estimate sheet (in excel).
Scope of the Report:
The report analyses Gas Turbine market, which includes –
- Analysis of the growth of Gas Turbine market in global and regional level including Asia-Pacific, Americas, and EMEA.
- The report provides Gas Turbine market analysis for key countries including the US, Canada, Chile, China, India, Japan, the UK, Germany, France, and Italy.
- The report offers country level Gas Turbine market volume and value by end-user segment for the period 2012-2023.
- Qualitative analysis of key market drivers and restraints, and analysis of their impacts on Gas Turbine market are discussed.
- The report provides competitive landscape at country level for the year 2018. It also covers key policies and initiatives, key deals, and key upcoming projects.
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