NEW YORK, Oct. 31, 2022 /PRNewswire/ -- The "Industrial Gas Turbine Ignition System Market by Application (Power generation and Mechanical drive) and Geography (APAC, North America, Europe, Middle East and Africa, and South America) - Forecast and Analysis 2022-2026" report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years.
The potential growth difference for the industrial gas turbine ignition system market between 2021 and 2026 is USD 2.36 billion. To get the exact yearly growth variance and the Y-O-Y growth rate, Request a Free PDF Sample Report.
- Market Driver: The market is driven by the operational efficiencies associated with industrial gas turbines. Gas turbines are more efficient, dependable, and fuel-compatible than steam engines or piston engines. Even under tremendous load, the combustors and burner design in these turbines provide exceptional pollution reduction performance. These features make gas turbines the most efficient combustion systems. In addition, the robust design of industrial gas turbines facilitates low thermal conductivity. These turbines have a thermal barrier coating that helps withstand high temperatures of up to 1,500 degrees Fahrenheit to 1,600 degrees Fahrenheit, thereby increasing efficiency. In addition, gas turbine components are lighter compared to components of other turbines. Such operational benefits are driving the growth of the global industrial gas turbine ignition system market.
- Market Challenges: Fluctuation in gasoline prices is one of the major challenges in the market. Fluctuating gasoline product prices pose a major challenge for end-user industries, such as oil and gas. Gasoline prices are increasingly dependent on crude oil prices and the level of gasoline supply relative to the market demand. Gasoline prices increase with a decline in gasoline supply compared with its expected consumption. Any disruption in crude oil supplies or refinery operations can destabilize the prices further. These prices may fluctuate because of seasonal changes in demand as well. This can negatively impact the profitability of end-users and destabilize the demand for gas turbines during the forecast period.
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By application, the power generation segment will be a significant contributor to market growth during the forecast period. The benefits of using gas turbines over steam or piston turbines in the power generation sector is driving the growth of the segment. In addition, an increase in the unit capacities of gas turbine units (50-100 megawatt (MW), improved efficiency, and a decline in capital costs will drive further the growth of the segment.
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By geography, APAC will be the leading region with 31% of the market's growth during the forecast period. China and India are the key markets for industrial gas turbine ignition systems in APAC. Market growth in this region will be faster than the growth of the market in other regions.
Find additional insights into the contribution of all the segments and regional opportunities in the report. Buy Now for detailed segment information.
- Ansaldo Energia Spa
- Champion Aerospace LLC
- Chentronics LLC
- General Electric Co.
- HOERBIGER Holding AG
- Kawasaki Heavy Industries Ltd.
- MAN Energy Solutions SE
- Meggitt Plc
- Mitsubishi Heavy Industries Ltd.
- Siemens AG
- Tenneco Inc.
- TESI GROUP spa
- Woodward Inc.
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Industrial Gas Turbine Ignition System Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 10.98% |
Market growth 2022-2026 |
USD 2.36 billion |
Market structure |
Fragmented |
YoY growth (%) |
9.29 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 31% |
Key consumer countries |
US, China, India, Germany, and Brazil |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Ansaldo Energia Spa, Champion Aerospace LLC, Chentronics LLC, General Electric Co., HOERBIGER Holding AG, Kawasaki Heavy Industries Ltd., MAN Energy Solutions SE, Meggitt Plc, Mitsubishi Heavy Industries Ltd., Siemens AG, Tenneco Inc., TESI GROUP spa, and Woodward Inc. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
- Exhibit 06: Executive Summary – Chart on Incremental Growth
- Exhibit 07: Executive Summary – Data Table on Incremental Growth
- Exhibit 08: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 09: Parent market
- Exhibit 10: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 11: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 12: Market segments
- 3.3 Market size 2021
- 3.4 Market outlook: Forecast for 2021-2026
- Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
- Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
- 4.2 Bargaining power of buyers
- Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
- 4.3 Bargaining power of suppliers
- Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
- 4.4 Threat of new entrants
- Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
- 4.5 Threat of substitutes
- Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
- 4.6 Threat of rivalry
- Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
- 4.7 Market condition
- Exhibit 23: Chart on Market condition - Five forces 2021 and 2026
5 Market Segmentation by Application
- 5.1 Market segments
- Exhibit 24: Chart on Application - Market share 2021-2026 (%)
- Exhibit 25: Data Table on Application - Market share 2021-2026 (%)
- 5.2 Comparison by Application
- Exhibit 26: Chart on Comparison by Application
- Exhibit 27: Data Table on Comparison by Application
- 5.3 Power generation - Market size and forecast 2021-2026
- Exhibit 28: Chart on Power generation - Market size and forecast 2021-2026 ($ million)
- Exhibit 29: Data Table on Power generation - Market size and forecast 2021-2026 ($ million)
- Exhibit 30: Chart on Power generation - Year-over-year growth 2021-2026 (%)
- Exhibit 31: Data Table on Power generation - Year-over-year growth 2021-2026 (%)
- 5.4 Mechanical drive - Market size and forecast 2021-2026
- Exhibit 32: Chart on Mechanical drive - Market size and forecast 2021-2026 ($ million)
- Exhibit 33: Data Table on Mechanical drive - Market size and forecast 2021-2026 ($ million)
- Exhibit 34: Chart on Mechanical drive - Year-over-year growth 2021-2026 (%)
- Exhibit 35: Data Table on Mechanical drive - Year-over-year growth 2021-2026 (%)
- 5.5 Market opportunity by Application
- Exhibit 36: Market opportunity by Application ($ million)
6 Customer Landscape
- 6.1 Customer landscape overview
- Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 38: Chart on Market share by geography 2021-2026 (%)
- Exhibit 39: Data Table on Market share by geography 2021-2026 (%)
- 7.2 Geographic comparison
- Exhibit 40: Chart on Geographic comparison
- Exhibit 41: Data Table on Geographic comparison
- 7.3 APAC - Market size and forecast 2021-2026
- Exhibit 42: Chart on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 43: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 44: Chart on APAC - Year-over-year growth 2021-2026 (%)
- Exhibit 45: Data Table on APAC - Year-over-year growth 2021-2026 (%)
- 7.4 North America - Market size and forecast 2021-2026
- Exhibit 46: Chart on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 47: Data Table on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 48: Chart on North America - Year-over-year growth 2021-2026 (%)
- Exhibit 49: Data Table on North America - Year-over-year growth 2021-2026 (%)
- 7.5 Europe - Market size and forecast 2021-2026
- Exhibit 50: Chart on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 51: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 52: Chart on Europe - Year-over-year growth 2021-2026 (%)
- Exhibit 53: Data Table on Europe - Year-over-year growth 2021-2026 (%)
- 7.6 Middle East and Africa - Market size and forecast 2021-2026
- Exhibit 54: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 55: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 56: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- Exhibit 57: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- 7.7 South America - Market size and forecast 2021-2026
- Exhibit 58: Chart on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 59: Data Table on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 60: Chart on South America - Year-over-year growth 2021-2026 (%)
- Exhibit 61: Data Table on South America - Year-over-year growth 2021-2026 (%)
- 7.8 China - Market size and forecast 2021-2026
- Exhibit 62: Chart on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 63: Data Table on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 64: Chart on China - Year-over-year growth 2021-2026 (%)
- Exhibit 65: Data Table on China - Year-over-year growth 2021-2026 (%)
- 7.9 US - Market size and forecast 2021-2026
- Exhibit 66: Chart on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 67: Data Table on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 68: Chart on US - Year-over-year growth 2021-2026 (%)
- Exhibit 69: Data Table on US - Year-over-year growth 2021-2026 (%)
- 7.10 India - Market size and forecast 2021-2026
- Exhibit 70: Chart on India - Market size and forecast 2021-2026 ($ million)
- Exhibit 71: Data Table on India - Market size and forecast 2021-2026 ($ million)
- Exhibit 72: Chart on India - Year-over-year growth 2021-2026 (%)
- Exhibit 73: Data Table on India - Year-over-year growth 2021-2026 (%)
- 7.11 Brazil - Market size and forecast 2021-2026
- Exhibit 74: Chart on Brazil - Market size and forecast 2021-2026 ($ million)
- Exhibit 75: Data Table on Brazil - Market size and forecast 2021-2026 ($ million)
- Exhibit 76: Chart on Brazil - Year-over-year growth 2021-2026 (%)
- Exhibit 77: Data Table on Brazil - Year-over-year growth 2021-2026 (%)
- 7.12 Germany - Market size and forecast 2021-2026
- Exhibit 78: Chart on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 79: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 80: Chart on Germany - Year-over-year growth 2021-2026 (%)
- Exhibit 81: Data Table on Germany - Year-over-year growth 2021-2026 (%)
- 7.13 Market opportunity by geography
- Exhibit 82: Market opportunity by geography ($ million)
8 Drivers, Challenges, and Trends
- 8.1 Market drivers
- 8.2 Market challenges
- 8.3 Impact of drivers and challenges
- Exhibit 83: Impact of drivers and challenges in 2021 and 2026
- 8.4 Market trends
9 Vendor Landscape
- 9.1 Overview
- 9.2 Vendor landscape
- Exhibit 84: Overview on Criticality of inputs and Factors of differentiation
- 9.3 Landscape disruption
- Exhibit 85: Overview on factors of disruption
- 9.4 Industry risks
- Exhibit 86: Impact of key risks on business
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 87: Vendors covered
- 10.2 Market positioning of vendors
- Exhibit 88: Matrix on vendor position and classification
- 10.3 Ansaldo Energia Spa
- Exhibit 89: Ansaldo Energia Spa - Overview
- Exhibit 90: Ansaldo Energia Spa - Business segments
- Exhibit 91: Ansaldo Energia Spa - Key news
- Exhibit 92: Ansaldo Energia Spa - Key offerings
- Exhibit 93: Ansaldo Energia Spa - Segment focus
- 10.4 Champion Aerospace LLC
- Exhibit 94: Champion Aerospace LLC - Overview
- Exhibit 95: Champion Aerospace LLC - Product / Service
- Exhibit 96: Champion Aerospace LLC - Key news
- Exhibit 97: Champion Aerospace LLC - Key offerings
- 10.5 General Electric Co.
- Exhibit 98: General Electric Co. - Overview
- Exhibit 99: General Electric Co. - Business segments
- Exhibit 100: General Electric Co. - Key news
- Exhibit 101: General Electric Co. - Key offerings
- Exhibit 102: General Electric Co. - Segment focus
- 10.6 Kawasaki Heavy Industries Ltd.
- Exhibit 103: Kawasaki Heavy Industries Ltd. - Overview
- Exhibit 104: Kawasaki Heavy Industries Ltd. - Business segments
- Exhibit 105: Kawasaki Heavy Industries Ltd. - Key news
- Exhibit 106: Kawasaki Heavy Industries Ltd. - Key offerings
- Exhibit 107: Kawasaki Heavy Industries Ltd. - Segment focus
- 10.7 MAN Energy Solutions SE
- Exhibit 108: MAN Energy Solutions SE - Overview
- Exhibit 109: MAN Energy Solutions SE - Product / Service
- Exhibit 110: MAN Energy Solutions SE - Key offerings
- 10.8 Meggitt Plc
- Exhibit 111: Meggitt Plc - Overview
- Exhibit 112: Meggitt Plc - Business segments
- Exhibit 113: Meggitt Plc - Key news
- Exhibit 114: Meggitt Plc - Key offerings
- Exhibit 115: Meggitt Plc - Segment focus
- 10.9 Mitsubishi Heavy Industries Ltd.
- Exhibit 116: Mitsubishi Heavy Industries Ltd. - Overview
- Exhibit 117: Mitsubishi Heavy Industries Ltd. - Business segments
- Exhibit 118: Mitsubishi Heavy Industries Ltd. - Key news
- Exhibit 119: Mitsubishi Heavy Industries Ltd. - Key offerings
- Exhibit 120: Mitsubishi Heavy Industries Ltd. - Segment focus
- 10.10 Siemens AG
- Exhibit 121: Siemens AG - Overview
- Exhibit 122: Siemens AG - Business segments
- Exhibit 123: Siemens AG - Key news
- Exhibit 124: Siemens AG - Key offerings
- Exhibit 125: Siemens AG - Segment focus
- 10.11 Tenneco Inc.
- Exhibit 126: Tenneco Inc. - Overview
- Exhibit 127: Tenneco Inc. - Business segments
- Exhibit 128: Tenneco Inc. - Key news
- Exhibit 129: Tenneco Inc. - Key offerings
- Exhibit 130: Tenneco Inc. - Segment focus
- 10.12 Woodward Inc.
- Exhibit 131: Woodward Inc. - Overview
- Exhibit 132: Woodward Inc. - Business segments
- Exhibit 133: Woodward Inc. - Key news
- Exhibit 134: Woodward Inc. - Key offerings
- Exhibit 135: Woodward Inc. - Segment focus
11 Appendix
- 11.1 Scope of the report
- 11.2 Inclusions and exclusions checklist
- Exhibit 136: Inclusions checklist
- Exhibit 137: Exclusions checklist
- 11.3 Currency conversion rates for US$
- Exhibit 138: Currency conversion rates for US$
- 11.4 Research methodology
- Exhibit 139: Research methodology
- Exhibit 140: Validation techniques employed for market sizing
- Exhibit 141: Information sources
- 11.5 List of abbreviations
- Exhibit 142: List of abbreviations
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