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Gas Turbine Compressor Market Forecast, Trend Analysis & Competition Tracking - Global Review 2018 to 2027 | Regional Analysis- North America (U.S., Canada), Latin America (Mexico. Brazil), Western Europe (Germany, Italy, France, U.K, Spain), Eastern Euro
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Globally, rising power demands have led to increased reliance on power generation applications such as industrial cogeneration, combined-cycle power generation services, and combined heat and power applications. This has fueled the growth of the gas turbine compressor market. Further, the growing adoption of renewable energy resources and increased construction of renewable energy power plants are estimated to boost the progress of the gas turbine compressor market. As the number of natural gas vehicles proliferates, rising demand for gas turbines is likely to augur well for the growth of the gas turbine compressor market.
An ongoing research study by leading market research firm Fact.MR offers in-depth insights and analysis on gas turbine compressor market. The research report is a comprehensive source of information and analysis that offers stakeholders an unbiased and transparent perspective on the gas turbine compressor market.
The research report gives actionable intelligence on various facets of the gas turbine compressor market considering key global regions. Moreover, with historical data analysis, current and future data projections of the global gas turbine compressor market have been included in this insightful research report. The forecast projections are for a nine year period, starting from 2018 till 2027. Additionally, intelligence on various market participants have been covered in this analytical research report. Main aspects of these market participants such as product portfolio analysis, key strategies, SWOT analysis, market expansion plans, innovations and product developments, revenue shares, supply chain analysis, sales figures, mergers and acquisitions and future expansion plans along with key financial analysis have been covered in the competitive landscape section of the global gas turbine compressor market report.
Growth of Aerospace Industry to Trigger Demand for Gas Turbine Compressors in the Coming Decade
Aerospace sector has witnessed steady growth since past several years. Increasing investments in the defense and aerospace industry signifies high growth potential in the forthcoming years. With growing investments, this industry is expected to shift towards linear growth side, consequently creating significant growth opportunities across the supply chain, which consist of manufacturers, suppliers, dealers and vendors of gas turbine compressor market.
Governments in developed countries have initiated high investments in the respective aerospace sectors for both commercial aerospace and defense. According to International Air Transportation Association, demand for air travel in 2016 grew by 6.3 percent. This pushed the manufacturing of commercial aircrafts across regions. According to IATA, the manufacturing of large commercial aircrafts has risen in 2017 and is expected to grow in the coming year.
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With respect to defense, investments in developing advanced aircrafts have triggered the adoption of gas turbine compressors. Gas turbine compressors are an integral part of an aircraft that are used, along with fuel combustion, to propel the aircraft at higher speeds. Increasing investments in defense sector are expected to offer potential opportunities for gas turbine compressor manufacturers. Recently, President Donald Trump initiated an increase in the spending for defense of around US$ 25 Bn in 2017 and is looking forward to further increase it by 10% in 2018. This factor is expected to bode well for the overall aerospace industry, thus paving a huge growth platform for gas turbine compressors, pushing their sales in the coming years.
Participants in the global gas turbine compressor market are coming up with new innovations in their products. Several participants have filed patents for their products recently. For instance, in 2018, Siemens Aktiengesellschaft filed a patent for its new gas turbine arrangement that has a controlled bleed air injection system. Another for a compressor assembly for mass flow control in gas turbine has been initiated by the company. Such developments are expected to increase the scope of use of gas turbine compressors in various end use industries. Key market participants involved in the global gas turbine compressor market include Siemens Aktiengesellschaft, General Electric Company, Pratt & Whitney, Mitsubishi Hitachi Power Systems, Ltd., MAN Turbomachinery and Opra Turbines B.V.
The research report on global gas turbine compressor market includes analysis on various aspects such as trends, developments, drivers and opportunities that positively influence the growth of the global market. In addition, restraints and challenges that hinder the growth of the global gas turbine compressor market have also been included in this insightful research study. This research report offers a complete understanding about the market, its growth trajectory few years down the line as well as key insights on various market factors that can be used to gain hold over the market in the years to follow.
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