Worldwide Turbine Industry to 2027 - Increase in the Trend for Distributed Power Generation Presents Opportunities

DUBLIN, Aug. 11, 2020 /PRNewswire/ -- The "Gas Turbine Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Technology; Capacity; Application; and Geography" report has been added to ResearchAndMarkets.com's offering.

The gas turbine market was valued at US$ 21,015.97 million in 2018 and is projected to reach US$ 29,447.30 million by 2027; it is expected to grow at a CAGR of 3.9% from 2019 to 2027. Gas Turbine is an internal combustion engine containing combustion chambers, which releases expanding gases that drive the blades of a turbine. The gas turbine converts natural gas and other liquids into mechanical energy. This energy fuels generators to produce electrical energy. There are various advantages associated with gas turbines, such as high power to weight ratio and low operations pressure. Despite being small in size, the gas turbines possess a high power rating. They reduce carbon emissions and release fewer emissions into the air compared to other engines.

Based on application, the gas turbine market is segmented into power generation, oil and gas, and Industrial. The power generation segment accounted for the largest share of the market in 2018. The gas turbines are one of the most widely used technologies deployed in the production of power. A gas turbine is used for converting the liquid fuels or natural gas that is fed to it, into mechanical energy. This mechanical energy further drives the generator to produce electrical energy. The electrical energy is then supplied to homes and businesses via power lines. The gas turbine heats up a mixture of air and fuel at extremely high temperatures that result in the spinning of turbine blades. These spinning blades in turn drive the generator to produce power. One must not ignore that it is the production of hot gas during fuel combustion and not the fuel itself that spins the turbine blades. The environment friendly properties of gas turbines of using natural gas and producing less gas pollution has favored the power generation segment of gas turbine market worldwide.

Geographically, the gas turbine market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East and Africa. North America held the largest share of the global market in 2018, followed by Europe. The growth of the market in North Americas primarily attributed to rapid growth in the power generation industry in this region. Additionally, the growth of the gas turbine market in this region is primarily attributed to increasing environmental regulations enforced by the government to reduce the rate of carbon footprint along with low shale prices. A rapid rise in energy demand, especially from manufacturing plants and other related industrial establishments, is further expected to fuel the market growth. Besides this, swift developments in the power generation sector in leading countries such as the US and Canada boosts the demand for gas turbines in the North America region. Low costs related to power generation and technological advancements are also expected to boost the growth of the gas turbine market in the North American region.

Ansaldo Energia S.p.A, General Electric Company, Harbin Electric Company Limited, Kawasaki Heavy Industries, Ltd, Man Energy Solutions, Mitsubishi Hitachi Power Systems, Ltd, Siemens AG, Solar Turbines Incorporated, Wrtsil Corporation, and Bharat Heavy Electricals Limited (BHEL)are among the major players in the global gas turbine market.

Reasons to Buy:

• Highlights key business priorities to assist companies realign their business strategies.
• Featureskey findings and crucial progressive industry trends in the global gas turbine market, thereby allowing players to develop effective long-term strategies.
• Develops/modifies business expansion plans by using substantial growth offering from developed and emerging markets.
• Scrutinizes in-depth market trends as well askey market drivers and restraints.
• Enhances the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.

Key Topics Covered:

1. Introduction
1.1 Study Scope
1.2 Report Guidance
1.3 Market Segmentation

2. Key Takeaways

3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis formulation:
3.2.4 Macro-economic factor analysis:
3.2.5 Developing base number:
3.2.6 Data Triangulation:
3.2.7 Country level data:

4. Gas Turbine Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 APAC
4.2.4 MEA
4.2.5 SAM
4.3 Expert Opinion

5. Gas Turbine Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Replacement of coal and nuclear driven turbines by gas turbines
5.1.2 An upsurge in the demand for electricity
5.2 Market Restraints
5.2.1 The interdependencies between gas and electricity sectors
5.3 Market Opportunities
5.3.1 Increase in the trend for distributed power generation
5.4 Future Trends
5.4.1 Changing trends in electricity consumption and growth in aviation industry to Favour gas turbine market
5.5 Impact Analysis

6. Gas Turbine- Global Market Analysis
6.1 Gas Turbine Market Overview
6.2 Gas Turbine Market-Revenue and Forecast to 2027 (US$ Mn)
6.3 Market Positioning - Global Market Players

7. Gas Turbine Market Analysis - By Technology
7.1 Overview
7.2 Gas Turbine Market, By Technology (2018 and 2027)
7.3 Open Cycle
7.3.1 Overview
7.3.1.1 Open Cycle: Gas Turbine Market - Revenue, and Forecast to 2027 (US$ Million)
7.4 Combined Cycle
7.4.1 Overview
7.4.1.1 Combined Cycle: Gas Turbine Market - Revenue, and Forecast to 2027 (US$ Million)

8. Gas Turbine Market Analysis - By Capacity
8.1 Overview
8.2 Gas Turbine Market, By Capacity (2018 and 2027)
8.3 Below 40 MW
8.3.1 Overview
8.3.1.1 Below 40 MW: Gas Turbine Market - Revenue and Forecast to 2027 (US$ Million)
8.4 40 - 120 MW
8.4.1 Overview
8.4.1.1 40 - 120 MW: Gas Turbine Market - Revenue and Forecast to 2027 (US$ Million)
8.5 120 - 300 MW
8.5.1 Overview
8.5.1.1 120 - 300 MW: Gas Turbine Market - Revenue and Forecast to 2027 (US$ Million)
8.6 Above 300 MW
8.6.1 Overview
8.6.1.1 Above 300 MW: Gas Turbine Market - Revenue and Forecast to 2027 (US$ Million)

9. Gas Turbine Market Analysis - By Application
9.1 Overview
9.2 Gas Turbine Market, By Application (2018 and 2027)
9.3 Power Generation
9.3.1 Overview
9.3.2 Power Generation: Gas Turbine Market - Revenue and Forecast to 2027 (US$ Million)
9.4 Oil and Gas
9.4.1 Overview
9.4.2 Oil and Gas: Gas Turbine Market - Revenue and Forecast to 2027 (US$ Million)
9.5 Industrial
9.5.1 Overview
9.5.2 Industrial: Gas Turbine Market - Revenue and Forecast to 2027 (US$ Million)

10. Gas Turbine Market - Geographic Analysis
10.1 Overview
10.2 North America: Gas Turbine Market
10.3 Europe: Gas Turbine Market
10.4 APAC: Gas Turbine Market
10.5 MEA: Gas Turbine Market
10.6 SAM: Gas Turbine Market

11. Impact of COVID-19 Pandemic on Global Gas Turbine Market
11.1 Overview
11.2 North America: Impact Assessment of COVID-19 Pandemic
11.3 Europe: Impact assessment of COVID-19 Pandemic
11.4 Asia-Pacific: Impact assessment of COVID-19 Pandemic
11.5 Middle East and Africa: Impact assessment of COVID-19 Pandemic
11.6 South America: Impact assessment of COVID-19 Pandemic

12. Industry Landscape
12.1 Strategy and Business Planning
12.2 Collaboration
12.3 Product Launch

13. Company Profiles
13.1 Ansaldo Energia S.p.A.
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 General Electric Company
13.3 Harbin Electric Company Limited
13.4 Kawasaki Heavy Industries, Ltd.
13.5 Man Energy Solutions
13.6 Mitsubishi Hitachi Power Systems, Ltd.
13.7 Siemens AG
13.8 Solar Turbines Incorporated
13.9 Wrtsil Corporation
13.10 Bharat Heavy Electricals Limited (BHEL)

14. Appendix

For more information about this report visit https://www.researchandmarkets.com/r/z4mm6x

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