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Gas Turbine Market Share 2019 to 2024: Top Key Players are GE, Siemens, Wartsila, Mitsubishi Heavy Industries, Solar Turbines, BHEL, Solar Turbines

03-06-2020 05:50 AM CET | Industry, Real Estate & Construction

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Gas Turbine Market Share 2019 to 2024: Top Key Players are GE,

Market Study Report LLC adds new research on Gas Turbine market, which is a detailed analysis of this business space inclusive of the trends, competitive landscape, and the market size. Encompassing one or more parameters among product analysis, application potential, and the regional growth landscape, Gas Turbine market also includes an in-depth study of the industry's competitive scenario.

Effective environmental proximity, operational efficiency, effective waste heat utilization, and lower overall operational cost are few imperative factors which will propel the combined cycle gas turbine market growth. Resurgent industrial headway in conjunction growing demand for energy and stabilization of gas prices will fuel the overall industry potential. Furthermore, overburdening of existing energy resources including hydro power and coal coupled with regulatory focus toward energy optimization have instituted a favorable business scenario.

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Gas Turbine Market is predicted to reach over USD 34 GW by 2024. Stringent government mandates to curb emissions along with growing environmental concerns, have aligned focus toward the integration of effective measures pertaining to energy conservation. Pivotal for this development has been a re-structuring across the key power markets coupled with rapid technological advancements including the field of combustion, aerodynamics, cooling, and materials which in turn will complement the industry landscape.

For instance, in 2015 Siemens came to Egypt's rescue during a serious electricity crisis, the country was in dire need of electricity but didn't possess the capacity to generate. The government approached Siemens, that came up with a Megaproject comprising 4 of its single-cycle SGT-2000E gas turbines. The agreement stemmed from a previous agreement for three power plants equipped with a total output of 14.4 GW that generated enough electricity to power 40 million Egyptian houses. For the three powerplants, Siemens has supplied 24 H-class gas turbines along with heat recovery systems, power generators, and main transformers.

Expansion of R&D investment reforms coupled with shifting focus toward effective combined cycle power generation plants will drive the U.S. gas turbine market. In 2016, ICF International have estimated that turbines fabricated by the U.S. manufacturers contributed to around 80% of the natural gas-fired combined cycle power plants across the nation. Government focus toward energy matrix optimization along with straining of available energy resources including coal and hydro power will further nourish the business outlook.

Eminent participants in gas turbine market includes General Electric, Wartsila, Mitsubishi Hitachi, BHEL, Kawasaki, Ansaldo Energia, Siemens AG, Solar Turbines, Opra Turbines, Capstone Turbine, Vericor, Man Diesel & Turbo, Harbin Electric, Cryostar, Zorya-Mashproekt, and NPO Saturn.

China gas turbine market is anticipated to grow owing to the positive clean energy outlook coupled with ongoing expansion of large capacity gas fired power plants across the nation. Leading manufacturers have aligned their focus toward business expansion across the China industry. In 2018, Siemens fetched orders to supply two H-class gas turbines and associated components for the CCHP project of CHD Guangzhou Zengcheng.

Lesser number of moving parts, compact size, light weight, improved efficiency, lower emissions, potential to utilize waste fuels, and lower electricity costs are few indispensable parameters which will drive the >500 kW to 1 MW gas turbine market. In addition, ongoing technological advancements with respect to the flexibility and efficiency improvements across both recuperated and un-recuperated systems will further stimulate the business growth.

The global gas turbine market is projected to witness significant growth in the ensuing years as a result of rising energy demand driven by manufacturing plants and industrial establishments which in turn has led to the expansion of sustainable power generation units. The nonstop demand for energy, specifically in developing nations will contribute to driving the demand for gas turbines in the coming years.

Table of Contents:
Chapter 1. Methodology and Scope

1.1. Methodology

1.2. Market definitions

1.3. Market estimations and forecast parameters

1.4. Data sources

1.4.1. Primary

1.4.2. Secondary Paid sources Public sources

Chapter 2. Executive Summary

2.1. Gas turbine industry 360 degree synopsis, 2013 - 2024

2.1.1. Business trends

2.1.2. Regional trends

2.1.3. Capacity trends

2.1.4. Product trends.

2.1.5. Technology trends.

2.1.6. Application trends

Chapter 3. Gas Turbine Industry Insights

3.1. Industry segmentation

3.2. Industry landscape, 2013 - 2024 (USD Million)

3.3. Industry ecosystem analysis

3.3.1. Vendor matrix

3.4. Innovation and technology landscape

3.4.1. General Electric

3.4.2. Siemens

3.4.3. Mitsubishi Hitachi Power Systems

3.4.4. MAN Diesel & Turbo

3.5. Regulatory landscape

3.5.6. International gas turbine standards

3.6. Application landscape

3.6.1. Simple cycle

3.6.2. Combined cycle

3.7. Natural gas fuel composition impact on GT operations

3.8. Gas Turbine Import/Export landscape, 2016

3.9. Average global market size perspectives 2016, by company

3.9.1. GE

3.9.2. Siemens

3.9.3. Wartsila

3.10. Global gas outlook 2040

3.10.1. Production, by region Africa CIS Latin America Middle East Non-OECD Asia Non-OECD Europe North America OECD Asia Pacific OECD Europe Southeast Asia

3.10.2. Production, by resource type Conventional existing Conventional new projects Unconventional-YTF Conventional-YTF

3.10.3. Trade share (Import/Export), by region Africa CIS Latin America Middle East Non-OECD Asia North America OECD Asia Pacific OECD Europe Southeast Asia

3.10.4. Pipeline gas trade share (Import/Export), by region Africa CIS Latin America Middle East North America OECD Europe Southeast Asia

3.10.5. LNG trade share (Import/Export), by region Africa CIS Latin America Middle East North America OECD Europe Southeast Asia

3.11. Effect of operating parameters on the performance of combined cycle plants

3.12. Combined cycle plant analysis

3.12.1. Property values

3.12.2. Entropy production rates

3.12.3. Thermal and mechanical energy flows

3.13. Combined cycle plant monetary landscape

3.13.1. Initial investments

3.13.2. annualized costs and corresponding

3.13.3. monetary flow rates

3.14. World energy investment scenario, 2017

3.15. Primary energy demand outlook 2040, by region

3.15.1. OECD

3.15.2. China

3.15.3. India

3.15.4. Other Asian countries

3.15.5. Africa

3.15.6. Rest of the world

3.16. Primary energy demand outlook 2040, by fuel

3.16.1. Oil

3.16.2. Gas

3.16.3. Coal

3.16.4. Nuclear

3.16.5. Hydro

3.16.6. Renewables

3.17. Operations & maintenance landscape

3.18. Cost structure analysis

3.18.1. Coal fired plants

3.18.2. Biomass plants

3.18.3. Combined cycle plants

3.18.4. Geothermal plants

3.19. Comparative analysis

3.19.1. Steam cycle

3.19.2. Combined cycle

3.19.3. Co-generation

3.20. Industry impact forces

3.20.1. Growth drivers North America & Europe Inclination towards energy optimization Shale gas revolution Positive clean energy outlook Asia Pacific Renewable energy integration Focus towards decentralized generation technologies Middle East, Africa and CIS Restructuring of electrical infrastructure Large scale renewable integration prospects Latin America Positive outlook towards gas-based electricity generation

3.20.2. Industry pitfalls & challenges Advancing auxiliary clean turbine technologies Cost competitiveness

3.21. Porter's analysis

3.22. Growth potential analysis

3.23. Price trend analysis, by technology

3.23.1. Open cycle

3.23.2. Combined cycle

3.24. Key customer requirements

3.25. Key barrier

3.26. Competitive landscape, 2017

3.26.1. Strategy dashboard

3.26.2. Global company market share

3.27. PESTEL analysis

Chapter 4. Gas Turbine Market, By Capacity

4.1. Gas turbine market share by capacity, 2017 & 2024

Chapter 5. Gas Turbine Market, By Product

Chapter 6. Gas Turbine Market, By Technology

Chapter 7. Gas Turbine Market, By Application

Chapter 8. Gas Turbine Market, By Region

Chapter 9. Gas Turbine Market Company Profiles

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