Press release
Heavy Duty Gas Turbine Market Report 2017 - Latest Growth, Current Trends and Forecast till 2025
The main objective of this report is to define, describe, and forecast the global “Heavy Duty Gas Turbine” market on the basis of types of applications, major sectors, deployment models, organization size, and regions. The report contains an analysis of the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges). It aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and their contribution to the market. The report attempts to forecast the market size for 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It contains key vendor profiles and comprehensively analyzes their core competencies. The report also tracks and analyzes competitive developments, including partnerships, collaborations, acquisitions, new product developments, and R&D activities in the market.
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The gas turbine is a combustion engine that is used for generating electric current. It is a vital component of any power plant. Mechanical energy is produced by gas turbine which is generated with the help of natural gas or other fuels. This mechanical energy powers the generator to produce electricity. Generally, heavy duty gas turbines convert mechanical energy into electrical energy. The primary function of heavy duty gas turbines is to generate. They generate electrical power, which is distributed along power lines to businesses and home. Electrical power generated by heavy duty gas turbines is the traditional and a significantly clean form of energy, with low levels of CO2 emission. The use of modern and traditional gas turbines have increased significantly over the years for power generation.
The heavy duty gas turbine electrical power generation market can be segmented based on type of power generating fuel, application, and region. Based on type of power generating fuel, the heavy duty gas turbine market can be segmented into oil, gas, kerosene, diesel, and others. Based upon the requirement of electricity, heavy duty gas turbines are used in various industries such as oil & gas, aeronautical, locomotive, and defense.
Major drivers of using heavy duty gas turbine exhibits long lifetime in providing efficient energy generation. Heavy duty gas turbines provide efficient energy output with better efficiency gains. A main advantage of using heavy duty gas turbines for electrical power generation is the ability of the gas turbines to be functional on and off in less time and supply of power during peak. Advancements and technological developments are driving the reduction in manufacturing costs and improvement in output efficiency of the heavy duty gas turbines. They can be utilized as backup for electrical power generation during emergencies.
Restrains of using heavy duty gas turbines are slow speed of functioning as compared to aero derivative gas turbines. Heavy duty industrial gas turbines require more space for components (especially combustor plants). Maintenance and repairing of the equipment consumes physical efforts and time. Heavy duty gas turbines consume more fuel as compared to aero derivative gas turbines. Heavy duty gas turbines requires sufficient availability of space and are inefficient in the offshore setup.
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Heavy duty gas turbines can be utilized in harsh environments such as arid deserts and cold countries. Countries such as China, India, Japan, and Singapore are leading contributors to the heavy duty gas turbine market for energy generation in Asia Pacific due to the increase in demand for electricity and power generation for the purpose of developing smart cities in these countries. North America is an emerging market for heavy duty gas turbines for electrical power generation due to the newly discovered oil & gas fields. U.S government are planning to redevelop and refurbish its infrastructural plans. In Europe, demand for heavy duty gas turbines are anticipated to increase in countries such as the U.K., Germany, and France, due to the increase in industrialization.
Key players operating in the heavy duty gas turbine market include Siemens AG, Doosan Heavy Industries, General Electric, Rolls Royce, and Mitsubishi Power Systems Europe Ltd.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
Market segments and sub-segments
Market trends and dynamics
Supply and demand
Market size
Current trends/opportunities/challenges
Competitive landscape
Technological breakthroughs
Value chain and stakeholder analysis
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The regional analysis covers:
North America (U.S. and Canada)
Latin America (Mexico, Brazil, Peru, Chile, and others)
Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
Eastern Europe (Poland and Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
A complete backdrop analysis, which includes an assessment of the parent market
Important changes in market dynamics
Market segmentation up to the second or third level
Historical, current, and projected size of the market from the standpoint of both value and volume
Reporting and evaluation of recent industry developments
Market shares and strategies of key players
Emerging niche segments and regional markets
An objective assessment of the trajectory of the market
Recommendations to companies for strengthening their foothold in the market
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