Global Gas Turbine Market 2023 Top Key Players – General Electric, Siemens AG, Mitsubishi Heavy Industries Ltd., Alstom S.A with CAGR of 4%

Market Research Future adds new report of “Global Gas Turbine Market Research Report- Forecast 2023”it contains Company information, geographical data and Table of Content

Market Scenario:

A gas turbine, also called as a combustion turbine, is a type of internal combustion engine. It has an upstream rotating compressor which is coupled to a downstream turbine with a combustion chamber in between called a combustor. The basic working of the gas turbine is similar to that of the steam power plant except that the operational fluid, here, is air instead of water. Gas Turbines are available in various capacity for various applications. The market is driven by the increasing need for reliable electric supply and subsequent investment in producing new generating capacity, high productivity & low carbon discharge features of natural gas-fired power plants, and new shale gas exploration.

Gas Turbines are widely accepted under any situation around the world as they have very high power-to-weight ratio, compared to reciprocating engines. Gas turbines are installed in power generation, oil & gas, industrial, marine and aviation sector. The constant need for electricity and the unstable power supply situation in most developing countries will aid in the growth of the gas turbines market over the forecast period. Fluctuation in international trade of natural gas and continuing distress over stable natural gas supply are restraining the gas turbine market. The market is expected to grow at a CAGR of 4% during the forecast period.

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Market Segmentation:

• By Product Type; Heavy Duty and Aero derivative

• By Capacity; ≤ 70MW, 70-300 MW and ≥ 300 MW

• By Technology; Open Cycle and Combined Cycle

• By Application; Power Generation, Oil & Gas, Industrial, Marine and Aviation

• By Region

Study Objectives of Global Gas Turbine Market

• To provide detailed analysis of the market structure along with forecast for the next five years of the various segments and sub-segments of the global Gas Turbine market.

• To provide insights about factors affecting the market growth

• To analyze the global Gas Turbine market based on various tools such as Supply Chain Analysis, and Porter’s Five Forces Analysis

• To provide historical and forecast revenue of the market segments and sub-segments with respect to regions and their respective key countries

• To provide country level analysis of the market with respect to the current market size and future prospective

• To provide country level analysis of the market for segments by material type, product, application and region

• To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market

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Key Players

The key players of global gas turbine markets are

• General Electric (U.S.)
• Siemens AG (Germany)
• Mitsubishi Heavy Industries Ltd. (Japan)
• Alstom S.A (France)
• Kawasaki Heavy Industries, Ltd. (Japan)
• Bharat Heavy Electricals Limited. (India)
• Ansaldo Energia, (Italy)
• Rolls-Royce Holdings plc. (U.K)
• Harbin Electric Company Limited. (China)
• MAN Diesel & Turbo. (Germany)
• Vericor Power Systems (Georgia)
• Solar Turbines Incorporated (U.S.A)

Intended Audience

• Distributer & Supplier companies
• End Users
• Consultants and Investment bankers
• Government as well as Independent Regulatory Authorities

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Global Gas Turbine Market

The gas turbines market is driven by the need of reliable electric supply at low operating and fuel costs, also growing investment towards the replacement of conventional matured structures with modern upgraded one. The Asia-Pacific region is the leading market for Gas Turbines. The rapid industrialization, urbanization, and fast economic growth in the countries such as India and China, will drive the market for Gas Turbines.

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