Industrial Gas Turbine Market to Develop New Growth Story| Alstom Power, General Electric, Solar Turbines

The latest survey on Industrial Gas Turbine Market is conducted to provide hidden gems performance analysis of Industrial Gas Turbine to better demonstrate competitive environment. The study is a mix of quantitative market stats and qualitative analytical information to uncover market size revenue breakdown by key business segments and end-use applications. The report bridges the historical data from 2020 to 2024 and forecasted till 2031. The outbreak of the latest scenario in Industrial Gas Turbine market has made companies uncertain about their future outlook as the disturbance in the value chain has made a serious economic slump. Some are the key & emerging players that are part of the coverage and profiled in the study are General Electric (United States), Siemens AG (Germany), Mitsubishi Hitachi Power Systems Ltd. (Japan), Ansaldo Energia (Italy), Kawasaki Heavy Industries (Japan), Alstom Power (France), Bharat Heavy Electricals Limited (BHEL) (India), Solar Turbines (United States), Capstone Turbine Corporation (United States), Harbin Electric Corporation (China)

According to HTF Market Intelligence, the Global Industrial Gas Turbine Market size is estimated to be around USD 12.4 million in 2024 and is expected to grow at a CAGR of 6.2% to reach USD 17.8 million by 2031.

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Industrial Gas Turbine Market Overview
Industrial gas turbines are combustion engines that convert natural gas or liquid fuels into mechanical energy for electricity generation/mechanical drives, featuring high power-to-weight ratios and rapid startup capabilities for peaking power, combined cycle plants, and offshore platform applications.

Market Trends
Many industrial facilities and power plants were shifting from traditional fossil fuels like coal and oil to cleaner natural gas. Natural gas is a cleaner-burning fuel and is well-suited for use in gas turbines, leading to increased demand for gas turbine technology.

Market Drivers
Growing need for efficient and reliable power generation methods
The development of advanced gas turbine technologies

Market Opportunities:
Growing need for cleaner fuels to reduce emissions and environmental impact
Integration of digital technologies, such as IoT sensors and data analytics in gas turbine

Fastest-Growing Region:
Asia-Pacific

Dominating Region:
North America

Industrial Gas Turbine Market Segmentation

Market Analysis by Types: Less than 40 MW, 40-120 MW, 120-300 MW, Above 300 MW

Market Analysis by Applications: Heavy-duty, Aero-derivative

Market Leaders & Development Strategies:
In January 2023. GE Gas Power signed Memorandum of Understanding (MoU) with IHI Corporation (IHI), to develop ammonia combustion technologies for heavy duty gas turbines to generate electricity with reduced CO2 emissions. The collaboration of this companies aims to develop gas turbine technologies by 2030 and to support the global transition towards a lower-carbon future in the power generation sector.

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Important Features that are under offering & key highlights of the Industrial Gas Turbine market report:
1. Why lots of Key players are not profiled in the Study?
--> The market study is surveyed by collecting data from various companies from Industrial Gas Turbine industry, and the base for coverage is NAICS standards. However, the study is not limited to profiling only a few companies; connect with sales executives to get a customized list. The standard version of the research report is listed with players like General Electric (United States), Siemens AG (Germany), Mitsubishi Hitachi Power Systems Ltd. (Japan), Ansaldo Energia (Italy), Kawasaki Heavy Industries (Japan), Alstom Power (France), Bharat Heavy Electricals Limited (BHEL) (India), Solar Turbines (United States), Capstone Turbine Corporation (United States), Harbin Electric Corporation (China)

2. Does the Scope of the Market Study allow further Segmentation?
---> Yes, for a deep dive analysis add-on segmentation is applicable in a premium customized version of the report to better derive market values. The standard version of this report covers segmentation by Application [Heavy-duty, Aero-derivative ], by Type [Less than 40 MW, 40-120 MW, 120-300 MW, Above 300 MW], and by regions [In North America, In Latin America, Europe, The Asia-pacific, Middle East and Africa (MEA), What are the main countries covered , The United States, Canada, Germany, France, UK, Italy, Russia, China, Japan, Korea, Southeast Asia, India, Australia, Brazil, Mexico, Argentina, Chile, Colombia, Egypt, Saudi Arabia, United Arab Emirates, Nigeria & South Africa]

3. What level of granularity would the Country landscape cover?
---> In the premium version of the report, two-level of regional segmentations allow user to have access to a country-level break-up of market Size by revenue and volume*
* Wherever applicable

4. Does the Study also provide insights into macroeconomic factors?
---> Yes, the study also includes market factor analysis that includes macroeconomic factors, the inflationary cycle and its impact, and Russia-Ukraine war analysis and its effect on the value/supply chain.

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HTF MI provides customized studies specific to regional and country-level reports for the following areas.
• North America: United States, Canada, and Mexico.
• South & Central America: Argentina, Chile, and Brazil.
• Middle East & Africa: Saudi Arabia, UAE, Turkey, Egypt, and South Africa.
• Europe: the United Kingdom, France, Italy, Germany, Spain, and Russia.
• Asia-Pacific: India, China, Japan, South Korea, Indonesia, Singapore, Australia, etc.

Reasons to Buy
• Stay tuned with the latest and Industrial Gas Turbine market research findings
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• Benchmark performance against key competitors
• Utilize the relationships between key data sets for superior strategizing.
• Facilitate decision-making based on historic and forecast trends of Industrial Gas Turbine market
• Suitable for supporting your internal and external presentations with reliable high-quality data and analysis
• Gain a global perspective on the development of the Industrial Gas Turbine market

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Thanks for reading Industrial Gas Turbine research article; you can also get individual chapter-wise sections or region-wise report versions like LATAM, North America, MENA, Southeast Asia, Europe, APAC or Country Specific reports such as Japan, United Kingdom, United States or China, etc

Nidhi Bhawsar (PR & Marketing Manager)
HTF Market Intelligence Consulting Private Limited
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