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Global Analysis of Gas Turbine Market -2024 | Wärtsilä, OPRA Turbines, Solar Turbines, MAN Diesel & Turbo, Cryostar listed as Key Players
Gas Turbine Market
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Global gas turbine market is poised to exceed 120 GW by 2024, as reported by Global Market Insights, Inc. The renewable energy sector, which is a full-fledged market in itself relies on specialized turbines to generate power. The end users of these gas turbines are the oil & gas, aviation, marine, and power generation industries. Power generation is the leading application of gas turbine industry, which is set to exceed 57 GW by 2024, having had over 40% of the total share in 2015.
Aero-derivative gas turbine market subject to the availability of highly flexible & mobile technologies to serve across a wide tandem of applications is set to witness growth of over 2% by 2024. Marine propulsion, utility generation, district heating, mobile power, grid stability, and mobile power are certain primary applications driving the demand for these units. Furthermore, light weight, environmental proximity, higher rotation speed, operational versatility, and low water consumption are few imperative parameters influencing the product demand.
Growing demand for energy coupled with positive regulatory and consumer outlook towards the integration of sustainable energy infrastructure will foster the power generation gas turbine market. Energy conservation mandates coupled with effective utilization of generated energy have further strengthened the product adoption. In addition, rising investments toward the expansion and integration of combined heat and power plants coupled with the flourishing distributed generation technology will further complement the business outlook of gas turbine market.
Gas Turbine Market Development Potential, Competitive Market Share & Forecast, 2018 – 2024 in detail along with the table of contents @ https://www.gminsights.com/industry-analysis/gas-turbine-market
The U.S. gas turbine market is anticipated exceed an annual installation of 5 GW by 2024. Expansion of research and development investment reforms and shifting focus towards effective combined cycle generation plants will drive the product demand. As per ICF International in 2016, turbines fabricated by U.S. based manufacturers contributed to 80% of the operating natural gas-fired combined cycle plants across the nation.
Operational efficiency, effective environmental proximity, lower overall operational cost, and effective waste heat utilization are few imperative factors driving the combined cycle gas turbine market size. Resurgent industrial headway coupled with rising energy demand and stabilization of gas prices have instituted a favorable business scenario. In addition, overburdening of existing energy resources including coal and hydro power in conjunction with regulatory focus towards energy optimization will further foster the overall industry potential.
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Prominent participants in the gas turbine market include GE, Siemens, Mitsubishi Heavy Industries America, Inc., AC BOILERS S.p.A. formerly ANSALDO CALDAIE, Wärtsilä, Kawasaki Heavy Industries, Ltd., OPRA Turbines, Solar Turbines, Vericor Power Systems LLC, MAN Diesel & Turbo, Cryostar & NPO Saturn
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
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Email: sales@gminsights.com
Web: https://www.gminsights.com
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