Gas Turbine Market COVID-19 Impact Analysis, Demand and Industry Forecast Report 2030

Gas Turbine Market Report Overview

Maximize Market Research published reports that help clients understand the Gas Turbine market structure in-depth. The report which is a combination of primary and secondary research gives thorough details about the Gas Turbine market, trade statistics, leading players, and various market metrics.

Gas Turbine Market Report Scope and Research Methodology

The report provides business statistics and analytical insights to help you understand the Gas Turbine market size, market share, growth, trends, demand, top players, industry profile, opportunities, value chain, end-users, types, and applications in plain language. The bottom-up approach was used to estimate the global and regional Gas Turbine market size. Both primary and secondary research methodologies were used to clearly present the Gas Turbine market structure.

In the secondary research method, data was collected from a selected set of sources. This method was used to gather information on Gas Turbine key players and current and past trends in the industry. The information gathered through secondary research was validated using the primary research method, in which Gas Turbine industry experts were interviewed.

The report also includes growth opportunities in micro and macro markets for stakeholders to invest in, with a detailed analysis of the competitive landscape and significant Gas Turbine competitors' product offerings. SWOT analysis was used to identify the strengths and weaknesses of the Gas Turbine market.

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Gas Turbine Market Regional Analysis

The report has been segmented into many key countries. This section provides a detailed analysis of the Gas Turbine market in all the regions with their key countries including market size, CAGR, and import and export. The regions and their countries studied are:

North America- U.S., Canada, Mexico
Europe- UK, Germany, France, Spain, Rest of Europe
Asia Pacific- China, India, Japan, Australia, South Korea, Asian Countries, Rest of APAC
South America- Brazil
Middle East and Africa.
Gas Turbine Market Segmentation

by Type

Heavy Duty
Aeroderivative

The Gas Turbine Market is Divided Into Heavy Duty and Aeroderivative Based on Type. Due to its low pressure, high capacity, and low cost construction that yields maximum power, the heavy-duty category leads the market. A major factor in the growing demand for heavy-duty gas turbines is the ability to achieve optimal cycle efficiency at a low cost of investment due to the turbine's small size. It is anticipated that the business environment will be driven by the continuous breakthroughs in technology efficiency, flexibility, and dependability. The aero-derivative segment is anticipated to grow at an 8.1% CAGR throughout the forecast period. It is constructed around aviation gas turbines, also referred to as aircraft engines. It weighs less than a large-duty engine, starts up quicker, and is simpler to install.

by Technology

Open cycle
Combined cycle
by Power Rating Below 40
40-120
120-300
Above 300

The gas turbine market is divided into open cycle and mixed cycle segments based on technology. With the highest revenue (78%), combined cycle technology is predicted to continue to dominate the market. They reduce transmission and distribution losses and require less fuel to produce the necessary energy output. Combined cycle turbines have efficiencies ranging from 60 to 80% due to their exceptional efficiency and user-friendliness. In addition to this increasing need, the technology is bolstered by stringent laws governing coal plants, cheap gas, and the integration of renewable energy sources. The combined cycle power plant offers a variety of renewable energy output and is a useful addition to solar and wind power due to its rapid start and stop capabilities.

by Application

Power generation
Oil & gas
Aerospace
Process plants

The gas turbine services market is divided into power generation, oil and gas, marine, aerospace, process plants, and others based on the application. The power utility industry is anticipated to lead the worldwide market throughout the forecast period. In many power-generating units, the replacement of conventional steam and coal-fired turbines is becoming more and more common. They produce electricity or gas turbine power with exceptional efficiency as compared to conventional power plants. There are a number of gas-fueled turbine plants that predominantly use natural gas as fuel as gas exploration intensifies. The Energy Information Administration (EIA) estimates that natural gas supplies roughly 25% of the nation's electricity, with coal providing over 40% of the total. By that time, almost 49 GW of coal-fired power units had been shut down.

Gas Turbine Market Key Players

1) General Electric Company
2) Siemens AG
3) Mitsubishi Hitachi Power Systems, Ltd.
4) Rolls-Royce Holdings plc
5) Ansaldo Energia S.p.A.
6) Solar Turbines Incorporated
7) Bharat Heavy Electricals Limited (BHEL)
8) Kawasaki Heavy Industries, Ltd.
9) Man Energy Solutions SE
10) Caterpillar Inc.
11) Harbin Electric Company Limited
12) Sulzer Ltd.
13) MTU Aero Engines AG
14) EthosEnergy Group
15) PW Power Systems, Inc.
16) NPO Saturn

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Key Questions answered in the Gas Turbine Market Report are:

What is Gas Turbine ?
What will be the CAGR of the Gas Turbine market during the forecast period?
Which segment of the Gas Turbine market held the largest share of the global market in 2022?
What trends are expected to generate additional revenue for the Gas Turbine market?
What are the opportunities for the Gas Turbine Market?
What factors are driving the Gas Turbine market growth?
Which company held the largest share in the Gas Turbine market?

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Key Offerings:

A detailed Market Overview
Market Share, Size, and Forecast by Revenue|2023-2029
Market Dynamics- Growth drivers, Restraints, Investment Opportunities, and key trends
Market Segmentation- A detailed analysis of each segment and their segments
Competitive Landscape - Leading key players and other prominent key players.
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