Press release
Gas Turbine Market Share 2020 to 2026: Top Key Players are General Electric, Siemens AG, Mitsubishi Hitachi Power Systems, Ltd, Wartsila, Solar Turbines Incorporated, Harbin Turbine Company Limited, Vericor Power Systems, MAN Energy Solutions
Gas Turbine Market
Global gas turbine market size is slated to gain substantial traction in the upcoming years. These equipment have a positive application outlook in numerous end-use sectors such as oil & gas, aviation, marine, process plants, and power plants. In terms of the capacity, 500kW to 1MW capacity gas turbines. Meanwhile, The >1MW to 30 MW capacity gas turbines are increasingly gaining prominence owing to extensive application in power generation stations and mechanical drives.
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The >30MW to 70MW capacity gas turbines segment will experience a robust growth over the next few years. This can be mainly attributed to their widespread use in the oil & gas sector along with a range of other industrial operations.
Further elaborating on the regional landscape, Latin America will account for a significant share in global gas turbine market. The introduction of numerous regulations and a shift in economic and energy policy in Brazil and Argentina have drawn the attention of foreign investors, which will complement the regional outlook. Meanwhile, CIS gas turbine industry is poised to cross an annual installation of 1GW by 2026.
The >200MW capacity gas turbines segment will witness a substantial demand during the forecast period. This can be associated with significant technological developments across both recuperated and un-recuperated systems in terms of flexibility and efficiency. The aforementioned trends and factors will foster the overall gas turbine market expansion.
Considering the application spectrum, gas turbines are expected to witness a strong demand across the marine sector. The introduction of several government regulations pertaining to carbon emissions will drive majority of the demand, which is further anticipated to be fueled by gas prices. In addition, innovations in gas turbine technology will boost its adoption over the analysis timeframe.
From a geographical point of view, Asia Pacific is projected to capture a substantial revenue share of global gas turbine industry. This can be linked with the presence of large number of gas-fired plants in the region. Gas-fired plants offer a greater degree of flexibility compared to coal-based plants, which will drive the product adoption.
Ongoing modernization of infrastructure fueled by investments in gas-fired distributed energy systems in Middle East and Africa is accelerating gas power generation in the region. Regional gas turbine suppliers are anticipated to get lucrative opportunities over the forthcoming years.
Table of Contents:
Chapter 1 Methodology & Scope
Chapter 2 Executive Summary
Chapter 3 Gas Turbine Industry Insights
Chapter 4 Gas Turbine Market, By Product
Chapter 5 Gas Turbine Market, By Capacity
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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