Covid-19 Outbreak: Gas Turbines Market 2020 Global Industry Trends, Statistics, Size, Share, Growth Factors, Emerging Technologies, Regional Analysis, Competitive Landscape Forecast to 2027

Gas Turbines Market – Introduction

A gas turbine is the heart of a power plant and is also known as a combustion turbine. Gas turbines are used to produce electric current. A gas turbine is an engine which is used to transform other liquid fuels or natural gas to mechanical energy. This mechanical energy then drives a generator and thus it produces electrical energy. Each gas turbine has three main elements including an upstream rotating gas compressor; a combustor; and a downstream turbine on the same shaft as the compressor. For converting the energy into electricity, a mixture of fuel and air at very high temperature heated by the gas turbine causes the turbine blades to spin. The spinning turbine drives the generator, and thus electricity is generated.

Gas Turbines Market – Competitive Landscape

In March 2019, SiemensAG entered into a partnership with China Power Investment Corporation, to develop heavy-duty gas turbines for power plants.
In December 2018, Turbine Efficiency Group Limited based in Lincolnshire, the U.K., acquired Gas Turbine Applications Inc., an after-market services provider company. Gas Turbine Applications Inc. is specialized in Centaur and Saturn industrial gas turbines.

Kawasaki Heavy Industries, Ltd.

Incorporated in 1896, Kawasaki Heavy Industries, Ltd. is based in Tokyo, Japan. The company specializes in manufacturing motorcycles, heavy equipment, defense equipment, rolling stock, and ships. It also designs industrial robots, boilers, gas turbines, and other industrial products. The company sells its products in the United States, Japan, Asia, Europe, and globally.

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Siemens AG

Incorporated in 1847, Siemens AG is located in Munich, Germany. Siemens AG is one of the leading global manufacturers of resource-saving and energy-efficient technologies. The company is especially focusing on the areas of automation, electrification, and digitalization. The company is the world’s leading supplier to the oil and gas industry and distributed power generation. It primarily operates through nine business segments: Power & Gas, Energy Management, Building Technologies, Mobility, Digital Factory, Process Industries & Drives, Healthineers, Siemens Gamesa Renewable Energy, and Financial Services (SFS). Through the Digital Factory division, the company offers a comprehensive product portfolio and system solutions used in manufacturing industries, complemented by product lifecycle and data-driven services.

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General Electric Company

Incorporated in 1892, General Electric Co. is located in Massachusetts, the United States. General Electric is a provider of automation and controls technology and services for power generation, distribution, and related applications across industries. The company operates under seven business segments: power, aviation, renewable energy, healthcare, oil & gas, transportation, and energy connections & lighting. The company distributes its products through its distribution channels Fuseco, and Weutscheck Distributor. It operates in approximately 180 countries across the world.

Some of the key players operating in the global gas turbines market include Mitsubishi Hitachi Power Systems, Ltd., Ansaldo Energia S.p.A., Harbin Electric Corporation Co., Ltd., OPRA Turbines B.V., MAN Energy Solutions SE, Solar Turbines Incorporated, Vericor Power Systems, Bharat Heavy Electricals Ltd., Centrax Gas Turbines, Dresser-Rand, and Solar Turbines Incorporated.

Gas Turbines Market – Dynamics

Increasing Demand for Electricity Drives the Growth of Gas Turbines

In the near future, demand for electricity is projected to increase by almost one-third of the current demand, and thus is a major factor projected to drive the growth of the gas turbine market, as gas turbines are used to generate electricity. As per TMR analysis, the United States, Russia etc. are revamping their electricity generation infrastructure due to the rising need to decommission aging power stations which is further expected to increase the demand for gas turbines in the next few years.

Reduction in Emission of Carbon Dioxide to Underpin the Sales of Gas Turbines

Gas turbines play an important role in reducing carbon emissions. Gas turbines exhibit lower emissions as compared to other combustion-based power generation applications. Increasing government regulations and implementation of numerous climate change initiatives to cut down greenhouse gas emission is expected to uphold the market growth in the next few years.

Shifting Focus Toward Renewable Energy Restraining Gas Turbine Growth

Increase in the use of renewable energy sources such as wind and solar is expected to restraint the gas turbine market across the globe. Industries are moving toward these renewable sources due to their benefits.

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Gas Turbines Market – Segmentation

The gas turbines market can be bifurcated on the basis of:

Design Type
Application
Technology
Capacity
Region

Gas Turbines Market Segmentation – By Design Type

In terms of design type, the gas turbines market can be divided into:

Heavy Duty (Frame) Type
Aeroderivative Type

Gas Turbines Market Segmentation – By Application

On the basis of application, the gas turbines market can be fragmented into:

Power Generation
Oil & Gas
Other Industrial Applications

Gas Turbines Market Segmentation – By Technology

In terms of technology, the gas turbines market can be fragmented into:

Open Cycle
Combined Cycle

Gas Turbines Market Segmentation – By Capacity

Based on capacity, the gas turbines market can be fragmented into:

Less Than 40 MW
40–120 MW
120–300 MW
Above 300 MW

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

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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