Press release
Gas Turbine Market to Witness Robust Expansion by 2023
A gas turbine, also called a combustion turbine, is a type of internal combustion engine. It has an upstream rotating compressor coupled to a downstream turbine, and a combustion chamber or area, called a combustor, in between.
The classification of gas turbine services includes heavy duty services and aero-derivative services, and the proportion of heavy duty services is about 79% in 2016, and the proportion is in increasing trend from 2012 to 2017.
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Global Gas Turbine Market: Forecast by Type / Application / Region
Gas turbine services are for power generation, oil & gas and other field. The most proportion of gas turbine services is for power generation, and the revenue in 2016 is about 7.61 billion USD.
Middle East region enjoys largest revenue market share in the world, with a revenue market share nearly 32% in 2016. Following Middle East, North America is the second largest place with the revenue market share of 30%.
Market competition is intense. General Electric, Siemens, Mitsubishi Hitachi Power Systems, Wood Group, etc. are the leaders of the industry, and they hold key technologies and patents, with high-end customers; have been formed in the monopoly position in the industry.
Over the next five years, LPI(LP Information) projects that Gas Turbine will register a 4.2% CAGR in terms of revenue, reach US$ 19300 million by 2023, from US$ 15700 million in 2017.
Global Gas Turbine Market: Key Players
General Electric
Siemens
Mitsubishi Hitachi Power Systems
Wood Group
Kawasaki Heavy Industries
Solar Turbines
Ansaldo Energia
MTU Aero Engines
Sulzer
MAN Diesel & Turbo
MJB International
Proenergy Services
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Related Information:
United States Gas Turbine Market Research Report 2018
Europe Gas Turbine Market Research Report 2018
North America Gas Turbine Market Research Report 2018
Asia-Pacific Gas Turbine Market Research Report 2018
China Gas Turbine Market Research Report 2018
EMEA Gas Turbine Market Research Report 2018
Global Gas Turbine Market Research Report 2018
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