Dublin, Feb. 07, 2022 (GLOBE NEWSWIRE) -- The "Global Gas Turbines Market by Technology, Rating Capacity, Design Type, Application and Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The gas turbine market was valued at USD 18.9 Billion in 2021 and is projected to reach USD 22.5 Billion by 2026, at a CAGR of 3.6% during the forecast period.
The gas turbine market is on course for intense growth across different end-use industries such as power generation, oil & gas, and other industries. The other industrial segment includes mechanical drive processes in the steel, aluminum, and manufacturing industries.
Heavy-duty segment dominated the gas turbine market in 2020
By design type, the heavy-duty segment dominated the market in 2020. Demand for large gas turbines for power generation is rising due to the stringent emissions standards and high-efficiency standards across the globe. Combined cycle plants with heavy-duty turbines enable high flexibility and low emissions.
Combined Cycle dominated the gas turbine market in 2020
By technology, the combined cycle segment accounted for the largest share of the gas turbine market in 2020. These plants offer nearly one-third more power for approximately the same fuel costs. They also have lower total emissions since the exhaust is utilized for other operational purposes.
Asia Pacific dominated the gas turbine market in 2020
Asia Pacific market accounted for the largest share in 2020. Investment in new large gas-fired combined cycle power generation plants and large coal-fired plants, along with rising electricity demand, is expected to drive the Asia Pacific gas turbines market's growth over the next five years.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Significant Opportunities in Gas Turbine Market
4.2 Gas Turbine Market, by Region
4.3 Gas Turbine Market, by Technology
4.4 Gas Turbine Market, by Design Type
4.5 Gas Turbine Market, by Rated Capacity
4.6 Gas Turbine Market, by End-User
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Demand for Natural Gas-Fired Power Plants
5.2.1.2 Rising Demand for Electricity
5.2.1.3 Efficient Power Generation Technology
5.2.1.4 Reduction in Emission of Carbon Dioxide
5.2.1.5 Impact of Shale Gas
5.2.2 Restraints
5.2.2.1 Natural Gas Price Volatility
5.2.2.2 Natural Gas Infrastructure Concerns
5.2.3 Opportunities
5.2.3.1 Increased Trend of Distributed Power Generation
5.2.3.2 Replacement of Phased Out Nuclear & Coal Plants
5.2.4 Challenges
5.2.4.1 Shifting Focus Toward Renewable Energy
5.2.4.2 Impact of COVID-19 on Gas Turbine Market
5.3 Porter's Five Forces Analysis
5.4 Ecosystem/Market Map
5.5 Pricing Analysis
5.6 Case Study Analysis
5.6.1 Case Study 1
5.6.1.1 2 Ms6001B Gas Turbine & Gte Ecovalue 400I Water Wash System
5.6.2 Case Study 2
5.6.2.1 Chp System for a Chemical Manufacturer: 30 Mw-Class Chp System with Green Gas Turbine for Chemical Manufacturing
5.7 Impact of COVID-19 on Supply Chain
5.8 Value Chain
5.9 Regulatory Landscape
5.10 Technology Analysis
5.10.1 New Reduced Emissions
5.10.2 New Turbines
5.10.3 Adapting to an Extended Fuel Spectrum
5.11 Trade Data
5.11.1 Gas Turbine Import Data
5.11.2 Gas Turbine Export Data
5.12 Patent Analysis
5.12.1 Methodology
5.12.2 Document Type
5.13 Insight
5.13.1 Legal Status of the Patents
5.13.2 Jurisdiction Analysis
5.13.3 Top Companies/Applicants
6 Gas Turbine Market, by Design Type
6.1 Introduction
6.2 Heavy Duty
6.2.1 Increased Number of Gas-Fired Power Plants to Enhance Demand for Heavy Duty Segment
6.3 Aeroderivative
6.3.1 Demand for Highly Efficient Simple Cycle Gas Turbines is Expected to Propel Demand
7 Gas Turbine Market, by Technology
7.1 Introduction
7.2 Open Cycle
7.2.1 Low Cost and Lesser Space Requirement of Open Cycle Gas Turbine is Expected to Enhance Demand of Segment
7.3 Combined Cycle
7.3.1 More Power and Lower Emission Will Drive Market for this Segment
8 Gas Turbine Market, by Rated Capacity
8.1 Introduction
8.2 1-40 Mw
8.2.1 Increasing Investment in Distributed Power Generation is Expected to Enhance Demand for Segment
8.3 40-120 Mw
8.3.1 Increased Cogeneration Applications in Chp Plants Will Enhance Market Segment
8.4 120-300 Mw
8.4.1 Growing Demand for Combined Cycle Power Plants is Expected to Enhance Demand
8.5 Above 300 Mw
8.5.1 Replacement of Old Coal-Fired Power Generation Capacity Will be Driving Factor for Segment
9 Gas Turbine Market, by End-User
9.1 Introduction
9.2 Power Generation
9.2.1 Growing Electricity Demand is Expected to Enhance Demand for Gas Turbines in Power Generation
9.3 Oil & Gas
9.3.1 Various Application of Gas Turbine in Oil & Gas Industry is Expected to Fuel Demand for Segment
9.4 Other Industries
10 Gas Turbine Market, by Region
11 Competitive Landscape
11.1 Key Players' Strategies
11.2 Revenue Analysis
11.3 Market Share Analysis
11.3.1 General Electric
11.3.2 Mitsubishi Heavy Industries, Ltd.
11.3.3 Siemens Energy
11.3.4 Ansaldo Energia
11.3.5 United Engine Corporation
11.3.6 Kawasaki Heavy Industries, Ltd.
11.4 Company Evaluation Quadrant
11.4.1 Stars
11.4.2 Pervasive
11.4.3 Emerging Leaders
11.4.4 Participants
11.5 Competitive Leadership Mapping of Sme, 2020
11.5.1 Progressive Companies
11.5.2 Responsive Companies
11.5.3 Starting Blocks
11.5.4 Dynamic Companies
11.6 Competitive Scenario
12 Company Profiles
12.1.1 General Electric
12.1.2 Mitsubishi Heavy Industries, Ltd.
12.1.3 Siemens Energy
12.1.4 Ansaldo Energia
12.1.5 United Engine Corporation
12.1.6 Kawasaki Heavy Industries, Ltd.
12.1.7 Capstone Green Energy Corporation
12.1.8 Rolls-Royce plc
12.1.9 Harbin Electric Machinery Company Limited
12.1.10 Opra Turbines
12.1.11 Solar Turbines Incorporated
12.1.12 Bharat Heavy Electricals Limited
12.1.13 Centrax Gas Turbine
12.1.14 Mtu Aero Engines Ag
12.1.15 Ihi Corporation
12.1.17 Doosan Heavy Industries & Construction
12.1.18 Mapna Group
12.1.19 Vericor Power Systems
12.1.20 Zorya Mashproekt
12.1.21 Man Energy Solutions
12.2 Other Players
12.2.1 Power Machines
12.2.2 Gas Turbine Research Establishment
12.2.3 Hindustan Aeronautics Limited
12.2.4 Gkn Aerospace Services Limited
13 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/llhl9g
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