Aeroderivative Gas Turbine Market Key market participants include General Electric, Siemens AG, Mitsubishi Hitachi Power Systems Ltd, Rolls-Royce, ABB, Harbin Electric International Company Limited, Kawasaki Heavy Industries, and Opra Turbines
Rising cogeneration technology adoption to meet the growing electricity demand will drive the global aeroderivative gas turbine market size by 2024. Countries including the U.S., UK, France, and Germany are investing aggressively for replacement of their existing coal fired power stations with the sustainable energy, positively impacting the industry growth. U.S. federal government is planning to increase the share of cogeneration by 30% over the next ten years in line to achieve its clean energy target.
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Growing focus towards the capability enhancement of aviation and maritime defense forces will drive the aeroderivative gas turbine market. Light weight, small carbon footprint, high cycle flexibility and short downtime for maintenance are some of the salient features which makes it preferable over other available alternatives. Companies including GE and Siemens are making significant investments towards the development of effective high capacity technology. GE deployed its latest LM2500 to U.S. and Indian warships in 2016.
Aeroderivative Gas turbine market research report includes in-depth coverage of the industry with estimates & forecast in terms of Volume in MW and revenue in USD Million from 2013 to 2024, for the following segments:
Global Aeroderivative Gas Turbine Market, By Capacity
• ≤ 18 MW
• 18 MW
Global Aeroderivative Gas Turbine Market, By Technology
• Open Cycle
• Combined Cycle
Global Aeroderivative Gas Turbine Market, By Application
• Power Generation
• Oil & Gas
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Aeroderivative gas turbine market for over 18 MW will see strong growth owing to growing applications across power generation and O&G industries. In 2017, GE launched LM9000 and NovaLT12 technology which helps in delivering safe, precise, and flexible energy supply to upstream and midstream operations.
Combined cycle aeroderivative gas turbine market for 2015 was over 5 GW and looks set to see handsome growth. Rising acceptance across cogeneration electricity generating stations owing to its fast start and cycling capabilities will complement the business outlook.
U.S. aeroderivative gas turbine market share is predicted to witness gain over 11% by 2024. Stringent emission norms coupled with deployment of new cogeneration facilities will positively impact the business outlook.
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For Europe, Russia accounted for over 130 MW in 2015. Growing investments towards replacement of aging coal fired stations with sustainable cogeneration plants will boost the industry growth.
China aeroderivative gas turbine market is set to exceed USD 350 million by 2024. Government measures to strengthen energy and defense industry will positively favor the industry growth. In 2014, GE and China Huadian Corporation (CHD) ventured together to form Huadian GE Aero Gas Turbine Equipment Co., Ltd. (HDGE).
Key industry players include Mitsubishi Hitachi Power Systems, Siemens AG, ABB, Solar turbines, Vericor Power Systems, General Electric, NPO Saturn, Opra turbines and Kawasaki.
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