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Aeroderivative Gas Turbine Market Trends & Regional Forecast To 2024 By Top Players General Electric, Siemens AG, Mitsubishi Hitachi Power Systems, Ltd., Wärtsilä, Vericor Power Systems, MAN Energy Solutions, Capstone Turbine Corporation, Cryostar
The aeroderivative gas turbine is a light weight variation of a common gas turbine. It is designed so that air and fuel are mixed and then burned to attain the desired power output. Since it is built on advanced aircraft engine materials and technologies, it is substantially lighter and boasts of a smaller carbon footprint when compared to its heavy industrial gas turbine equivalents.
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Presently, the aeroderivative gas turbines are designed to make use of a combustion process which is ongoing as opposed to the fragmentary nature of automotive combustion engines.
Aeroderivative gas turbines are the best choice for energy generation because of their fast response times, flexibility, efficiency and reliability. The gas turbines are also prevalent owing to their fuel flexibility, thereby allowing a combination of natural gas and liquid fuel operations. The aforementioned factors have been driving the demand for aeroderivative gas turbines over the recent years.
These gas turbine have wide range of applications one being the aviation sector where the power utilized by turbine is used to power a compressor. The hot air that exits the turbine is used for thrusting by forcing the air into the atmosphere through an exhaust nozzle.
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The aeroderivative gas turbines market is segmented in terms of capacity, technology, application, and regional landscape.
With respect to capacity, the market is classified into > 70 MW, 1 to 30 MW, 500 KW to 1 MW, 50 to 500 KW and < 50 KW respectively. It is observed that rapid technological advancements coupled with the expansion of combined heat and power plants to sustain heat and energy demand across residential and commercial establishments is set to foster the 50 kW to 500 kW gas turbine market share.
The 1 MW to 30 MW gas turbine segment, attributing to their wide applications throughout power generating stations, mechanical drive coupled with oil & gas and other industrial process is set to gain significant upliftment throughout the forecast timeline.
From a regional frame of reference, the Middle East & Africa gas turbine market will witness substantial amount of growth on account of government plans for power capacity additions primarily driven by growing population and industrialization.
Renewable energy integration will play a significant role in the CIS region's energy transition to attain sustainability, which is an imperative to consider within a comprehensive framework of social and economic development of the region.
It is observed that in the Latin America aeroderivative gas turbines market the development of gas fired power plants along with LNG regasification terminals would demonstrate synergies and growth leverage, creating a positive outlook for the gas turbine industry.
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