Industrial gas turbine market size is likely to observe significant growth from 2016 to 2023
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These are mainly an internal combustion engines that generate hot gases by flaming air fuel mixture spin in order to produce power. The turbines are increasingly being adopted to achieve superior reliability and efficiency in power projects. Industrial gas turbine market mainly serves power generation purposes. Reduction in cost of natural gas and gas turbine has concerned various key players towards this industry. In addition, rise in energy demand is also like to surge the demand growth over the forecast period.
Compatibility with other energy sources such as diesel fuel, methane, biogas and crude oil has offered potential opportunities to consumers to switch the source. Increasing replacement of aging gas turbines in industries with the updated turbines has also spurred the demand growth for this industry. These turbines possess high power to weight ratio as compared to other reciprocating engines. In addition, the turbines are smaller in size and process smaller amount of moving parts in comparison with reciprocating engines, offering same power rating. Moreover, benefits offered such as high operation speeds, low lubricating oil consumption and low operating pressures are anticipated to surge global demand.
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High lead time required is likely to hamper the global industrial gas turbine market over the forecast period. Major factors responsible for the high lead time include heavy weight, unavailability of alloys and structural complexity. In addition, industrial turbines produces carbon requires upgrades of incompetent gas turbine power plants. The plant operation cause noise and air pollution and may also lead to deafness. High cost, longer start-up time, lesser efficiency at idle speed and low responsiveness to changes in power demand are expected to challenge the demand growth over the coming few years.
The industrial gas turbines are mostly deployed in mechanical drive and power generation sectors. These turbines are different from aeronautical designs in several ways such as frames, blading and bearings. These designs are heavier in construction and are integrated with electric generator in order to recover residual energy. They range in different sizes from man portable mobile plants to complex systems weighing over 100 tones. Most of the engines are utilized in combined heat and power (CHP) configurations so as to integrate into convenient container configurations.
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