Gas Turbine Market Research Report
The global gas turbine market reached a value of US$23.2 Billion in 2021 and expects to reach US$29.3 Billion by 2027, at a CAGR of 4% during 2022-2027.
SHERIDAN, WYOMING, UNITED STATES, May 16, 2022 /EINPresswire.com/ — Market Overview:
The latest report by IMARC Group, titled “Gas Turbine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the global gas turbine market share. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
The global gas turbine market reached a value of US$ 23.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 29.3 Billion by 2027, exhibiting at a CAGR of 4% during 2022-2027. A gas turbine represents an internal combustion (IC) engine that converts the heat emanated by natural gases and liquid fuels into mechanical energy. This energy is further used for driving the generator that produces electricity. A gas turbine operates using various elements, such as a downstream turbine, a combustion chamber, a compressor, etc. It finds widespread utilization across several industries owing to its low operational and lubrication costs, efficiency, durability, high operational speed, etc. The electricity generated by gas turbines is used to power heavy machines, including aircraft, ships, electrical generators, pumps, trains, etc.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Important Attribute and highlights of the Report:
• Detailed analysis of the global market share
• Market Segmentation
• Historical, current, and projected size of the market in terms of volume and value
• Latest industry trends and developments
• Competitive Landscape
• Strategies of major players and product offerings
Global Gas Turbine Market Trends:
The expanding energy sector and the increasing number of advancements in power generation technologies are among the key factors driving the gas turbine market. Apart from this, the escalating demand for natural gas-based power plants for electricity generation is further catalyzing the market growth. Additionally, the inflating requirement for uninterrupted electricity is also augmenting the global market. Besides this, the growing product utilization to operate heavy machinery across various industries, such as aviation, oil and gas, automotive, etc., is acting as another significant growth-inducing factor. Furthermore, several favorable government initiatives aimed at shifting industrial operations from coal-based power generation to gas-based power generation for reducing carbon emissions are anticipated to fuel the gas turbine market over the forecasted period.
Explore Full Report with TOC & List of Figures: https://bit.ly/3hEQsKk
Key Market Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
• Kawasaki Heavy Industries
• Siemens
• GE
• MHPS
• Ansaldo
• Harbin Electric
• OPRA
• MAN Diesel
• Solar Turbines
• Vericor Power
• BHEL
• Centrax
• Zorya
• Caterpillar
• General Electric
• Mitsubishi Heavy Industries
Breakup by Rated Capacity:
• Above 300 MW
• 120-300 MW
• 40-120 MW
• Less Than 40 MW
Breakup by Technology:
• Combined Cycle Gas Turbine
• Open Cycle Gas Turbine
Breakup by Design Type:
• Heavy Duty (Frame) Type
• Aeroderivative Type
Breakup by End-User:
• Power Generation
• Mobility
• Oil and Gas
• Others
Breakup by Region:
• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• COVID-19 Impact on the Market
• Porter’s Five Forces Analysis
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape
TOC for the Report:
• Preface
• Scope and Methodology
• Executive Summary
• Introduction
• Global Market
• SWOT Analysis
• Value Chain Analysis
• Price Analysis
• Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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