Industrial Gas Turbine Market size was valued at USD 10.11 Bn. in 2023 and the total Industrial Gas Turbine revenue is expected to grow by 6 % from 2024 to 2030, reaching nearly USD 15.20 Bn.

Maximize Market Research, has published market intelligence and competitive landscape report on the Industrial Gas Turbine Market.

Over the forecast period, Industrial Gas Turbine Market is expected to grow from USD 10.11 Bn. to USD 15.20 Bn. by 2030, at a CAGR of 6 per cent.

The global industrial gas turbine market has been segmented into five major regions: North America, Europe, Asia Pacific, South America the Middle East and Africa, and Latin America.

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North America is expected to lead the market during the forecast period. According to the US Energy Information Administration (EIA), coal currently accounts for more than 45% of the nation's power, while natural gas accounts for approximately 28%. The EIA predicts that natural gas will be the primary fuel for power generation by 2035.

During the forecast period, Asia Pacific is expected to grow at a significant CAGR. The region's market growth can be attributed to several factors, including rapid industrialization, rising energy demand, and rising demand for clean energy technologies.

In countries such as Japan, China, Australia, South Korea, and India, government initiatives to reduce carbon emissions have led to the use of gas turbines. China is currently developing its 14TM Five-Year Plan, which will be most beneficial to the development of gas power. The 14°" FYP will implement a robust favourable policy to encourage more and more gas-fired power projects in China.

The Europe region is also expected to expand significantly during the forecast period, with governments focusing on replacing coal with either gas turbines or other renewable sources to reduce greenhouse gas emissions.

Industrial Gas Turbine Market Drivers:

• Gas Turbine Technology Reduces Greenhouse Emissions and Drives Market Growth.
• Growing Electricity Demand Accelerates Global Market Growth.

Industrial Gas Turbine Market Restraints:

• Natural gas price volatility hampers the market growth.

Industrial Gas Turbine Market Opportunities:

• Broader Scope in Emerging Economies is the Most Recent Market Trend.
• The new contracts are occupying the attention of key participants.

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Industrial Gas Turbine Market segmentation:

by Capacity

• ≤ 70 MW
• 70 MW - 300 MW
• ≥ 300 MW

by Technology

• Heavy Duty
• Light Industrial
• Aeroderivative

by Cycle

• Simple Cycle
• Combined Cycle

by Sector

• Electric Power Utility
• Oil & Gas
• Manufacturing

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Industrial Gas Turbine Market Key Players are:

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

𝐅𝐨𝐫 𝐚 𝐝𝐞𝐞𝐩𝐞𝐫 𝐮𝐧𝐝𝐞𝐫𝐬𝐭𝐚𝐧𝐝𝐢𝐧𝐠, 𝐜𝐥𝐢𝐜𝐤 𝐨𝐧 𝐭𝐡𝐞 𝐥𝐢𝐧𝐤: https://www.maximizemarketresearch.com/market-report/industrial-gas-turbine-market/164195/

Key questions answered in Industrial Gas Turbine Market are:

1] What are industrial gas turbines used for?
2] What are the 3 basic types of gas turbines?
3] What are industrial turbines?
4] Which fuel is used in gas turbines?
5] What is the most used industrial gas?
6] What gas is the safest industrial fuel?
7] Can a gas turbine run on diesel?

Key Offerings:

Past Market Size and Competitive Landscape (2018 to 2023)
Past Pricing and price curve by region (2018 to 2023)
Market Size, Share, Size & Forecast by Different Segment | 2024-2030
Market Dynamics - Growth Drivers, Regional analysis, Segment Analysis, Competitive landscape
Market Segmentation - A detailed analysis of the Offerings, Vertical, Application and Region
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region

Maximize Market Research has also published reports related to Industrial Gas Turbine Market are:

• Industrial Gas Regulator Market size is expected to reach nearly US$ 25.81 Bn by 2030 with the CAGR of 4.5% during the forecast period.

https://www.maximizemarketresearch.com/market-report/global-industrial-gas-regulator-market/32573/

• Global Industrial Gases for Metals & Metal Fabrication Market is anticipated to reach US$ 79.92 Bn by 2030 from US$ 54.22 Bn in 2023 at a CAGR of 5.7% during a forecast period.

https://www.maximizemarketresearch.com/market-report/global-industrial-gases-for-metals-metal-fabrication-market/102914/

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