Press release
Industrial Gas Turbine Market to reach USD 14.34 Bn by 2029, emerging at a CAGR of 6 percent and forecast 2023-2029
Industrial Gas Turbine Market
The comprehensive market analysis conducted by Maximize Market Research Pvt Ltd offers deep insights into the industrial gas turbine landscape. The report delves into the current market size, growth prospects, market dynamics, and key trends shaping the industry. It covers various segments, including capacity, technology, cycle, sector, and regional insights.
Maximize Market Research Pvt Ltd's rigorous research methodology combines primary and secondary data sources to provide accurate and reliable market insights. Through extensive data collection, analysis, and validation, the report offers a comprehensive overview of the industrial gas turbine market.
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Industrial Gas Turbine Market Dynamics:
The report highlights several key drivers propelling the growth of the industrial gas turbine market. Factors such as the global demand for electricity, coupled with the increasing need for cleaner energy sources, are major contributors to market expansion. Rapid urbanization and the surge in electrical energy requirements are also expected to significantly drive market growth.
It is well known that conventional coal-fired power stations release a lot of harmful chemicals into the atmosphere and considerably contribute to global warming. Power facilities that burn coal are one of the main sources of emissions. Over the next ten years, it is anticipated that demand for industrial gas turbines will rise as a result of the pressing need to develop greener energy generation techniques due to rising greenhouse gas emissions. Due to the low sulphur content of natural gas, which is the main fuel for gas turbines, essentially no sulphur dioxide emissions are produced. The CO2 emissions from gas turbines powered by natural gas are also extremely low, coming in at just 0.37 kilogrammes per kWh of energy produced. This contrasts with lignite's 1.01 kg/kWh and anthracite's 0.8 kg/kWh. The aforementioned elements hence fuel the industrial gas turbine market's expansion.
Industrial Gas Turbine Market Regional Insights:
The report provides valuable regional insights, highlighting the dominant market players, trends, and growth opportunities across various regions. Asia-Pacific, led by China and India, is expected to dominate the market due to increased investments in power generation and growing industrial activities. North America and Europe are also poised for significant growth, with a focus on reducing greenhouse gas emissions and transitioning from coal to cleaner energy sources.
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Industrial Gas Turbine Market Segmentation:
by Capacity
1. ≤ 70 MW
2. > 70 MW - 300 MW
3. ≥ 300 MW
by Technology
1. Heavy Duty
2. Light Industrial
3. Aeroderivative
by Cycle
1. Simple Cycle
2. Combined Cycle
by Sector
1. Electric Power Utility
2. Oil & Gas
3. Manufacturing
Industrial Gas Turbine Market Key Players:
1. General Electric Company
2. Siemens AG
3. Mitsubishi Heavy Industries Ltd
4. Harbin Electric International Company Limited
5. Doosan Heavy Industries & Construction
6. OPRA Turbines
7. Rolls-Royce
8. Vericor Power System
9. Bharat Heavy Electricals Limited
10. Kawasaki Heavy Industries Ltd
11. Ansaldo Energia SpA
12. Solar Turbines
13. Man Diesel and Turbo SE
14. MTU Aero Engines AG/Vericor Power Systems LLC
15. Centrax Industries Ltd
16. UEC Saturn
17. Wartsila
18. Zorya-Mashproekt.
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Table of content for the Industrial Gas Turbine Market includes:
1. Global Industrial Gas Turbine Market: Research Methodology
2. Global Industrial Gas Turbine Market: Executive Summary
Market Overview and Definitions
Introduction to the Global Market
Summary
Key Findings
Recommendations for Investors
Recommendations for Market Leaders
Recommendations for New Market Entry
3. Global Industrial Gas Turbine Market: Competitive Analysis
MMR Competition Matrix
Market Structure by region
Competitive Benchmarking of Key Players
Consolidation in the Market
M&A by region
Key Developments by Companies
Market Drivers
Market Restraints
Market Opportunities
Market Challenges
Market Dynamics
PORTERS Five Forces Analysis
PESTLE
Regulatory Landscape by region
North America
Europe
Asia Pacific
Middle East and Africa
South America
COVID-19 Impact
4. Company Profile: Key players
Company Overview
Financial Overview
Global Presence
Capacity Portfolio
Business Strategy
Recent Developments
Key Offerings:
Past Market Size and Competitive Landscape
Past Pricing and price curve by region
Market Size, Share, Size and Forecast by different segment | 2023-2029
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis by growth and trend
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations
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About Maximize Market Research:
Maximize Market Research is one of the fastest-growing market research and business consulting firms serving clients globally. Our revenue impact and focused growth-driven research initiatives make us a proud partner of the majority of the Fortune 500 companies. We have a diversified portfolio and serve a variety of industries such as IT & telecom, chemical, food & beverage, aerospace & defense, healthcare and others.
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