Global Gas Turbine Market Report By Technology (Open Cycle And Combined Cycle), By Application (Power Generation, Oil & Gas, And Other Industrial Applications), By Design (Heavy Duty Type And Aeroderivative Type), By Rated Capacity (Above 300MV, 120-300MV, 40-120MV And Less Than 40MV) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2020-2027

ID:VMR11210142
April 2021
Report Formats:

Rising need for electricity to fulfill unmet demand across the globe is primarily driving the market growth. Provision of subsidiaries by governments to companies using gas turbine equipment is further fueling the market growth. Owing to high energy generating capacity, gas turbines are extensively used in oil & gas, aerospace, power generation and various end-use industries. Moreover, rising investment on R&D for new efficient technologies for power generation is again pushing the market growth. Availability of low cost natural gas coupled with stringent regulation by government of carbon emission is boosting the market demand. 

The latest report by Value Market Research expects the Global Gas Turbine Market accounted for USD 18 billion and is expected to grow at USD 24 billion CAGR slightly over 4% from the year 2017 to 2024.
 
HEAVY-DUTY TURBINES DOMINATED THE TYPE SEGMENT
In 2017, heavy-duty turbines led the segment owing to wide adoption in simple cycle plants for better performance and flexible operation. Heavy-duty turbines are reliable turbine with relatively large size, lower pressure ratio and higher airflow has widened its application in hydrodynamic bearing.
 
BY CAPACITY, 120 TO 300 MW EMERGED AS THE LEADING SEGMENT
120 to 300 MW led the capacity segment in 2017 owing to ideal electricity generation capacity range for manufacturing, complex processing and end-use industries is driving the segment market. Extensively use of 120 MW in combine cycle gas turbine plant and combined heat and power plant is further fueling the segment growth.
 
EUROPE AND ASIA PACIFIC TOGETHER LED THE REGIONAL MARKET
Geographically, Europe and Asia Pacific together dominated the regional market by accounting over 2/3rd of the total market share in 2017. Growing population, rising investment for electricity generation, and robust industrialization in emerging countries such as China, Japan, and India is fueling the Asia Pacific market. A shift in preference for gas based energy generation over traditional system is driving the European market growth.
 
KEY PLAYERS OF THE MARKET
Major players are investing on repowering gas turbines to boost its performance. For instance, GE Launched the First 6B Repowering Gas Turbine Solution. Some of the prominent players of the industry are Ansaldo, BHEL, Centrax, GE, Harbin Electric, Kawasaki Heavy Industries, MAN Diesel, MHPS, OPRA, Siemens, Solar Turbines, Vericor Power and Zorya.

As per this study the Global Gas Turbine Market was valued USD XX BN (by revenue) in 2021 and is anticipated to reach USD XX BN by 2027 with a CAGR of X%.
 
Gas turbine is the continuous combustion engine that uses a mixture of pressurized gas as a source of energy to generate electricity. Basically, the potential energy of the pressured and compressed gas is converted into kinetic energy by the turbine blades. Gas turbines are mostly used in power generation, transportation, and other industrial processes.
 
Objectives of the Study:
  • Define and measure the global gas turbine market
  • Revenue forecast of the global gas turbine market and its various sub-segments with respect to main geographies
  • Analyze and identify major market trends along with the factors driving or inhibiting the market growth
  • Study the company profiles of the major market players with their market share
  • Analyze competitive developments
 
Market Dynamics
 
The gas turbine market is majorly driven on account of a rise in electricity demand from the manufacturing and industrial sector. Use of gas turbines in oil and gas, aerospace, driving tanks and other application areas owing to high-energy generating capacity is further contributing significantly to market growth. Stringent norms imposed for emission of carbon coupled with favorable subsidiaries and policies offered by the government of various countries are further pushing the market growth. However, the use of renewable energy sources for electricity generation is assumed to impact the market growth negatively.
 
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of gas turbine.
 
Market Segmentation
 
The broad gas turbine market has been sub-grouped into technology, application, design and rated capacity. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
 
By Technology
  • Open Cycle
  • Combined Cycle
 
By Application
  • Power Generation
  • Oil & Gas
  • Other Industrial Applications
 
By Design
  • Heavy Duty Type
  • Aeroderivative Type
 
By Rated Capacity
  • Above 300MV
  • 120-300MV
  • 40-120MV
  • Less Than 40MV
 
Regional Analysis
 
Furthermore, the report comprises of the geographical segmentation, which mainly focuses on current and forecast demand for gas turbine in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
 
Global Gas Turbine Market Share by Region (Representative Graph)
 
Global Gas Turbine Market Report
 
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the gas turbine market include Ansaldo, BHEL, Centrax, GE, Harbin Electric, Kawasaki Heavy Industries, MAN Diesel, MHPS, OPRA, Siemens, Solar Turbines, Vericor Power and Zorya. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
 
 
METHODOLOGY:
 
A combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific details on methodology used for this report can be provided on demand. 

1 . PREFACE
       1.1. Report Description
           1.1.1. Objective
           1.1.2. Target Audience
           1.1.3. Unique Selling Proposition (USP) & offerings
       1.2. Research Scope
       1.3. Research Methodology
           1.3.1. Market Research Process
           1.3.2. Market Research Methodology
 
2 . EXECUTIVE SUMMARY
       2.1. Highlights of Market
       2.2. Global Market Snapshot
 
3 . GAS TURBINE – INDUSTRY ANALYSIS
       3.1. Introduction - Market Dynamics
       3.2. Market Drivers
       3.3. Market Restraints
       3.4. Opportunities
       3.5. Industry Trends
       3.6. Porter’s Five Force Analysis
       3.7. Market Attractiveness Analysis
           3.7.1 By Technology
           3.7.2 By Application
           3.7.3 By Design
           3.7.4 By Rated Capacity
           3.7.5 By Region
 
4 . VALUE CHAIN ANALYSIS
       4.1. Value Chain Analysis
       4.2. Raw Material Analysis
           4.2.1. List of Raw Materials
           4.2.2. Raw Material Manufactures List
           4.2.3. Price Trend of Key Raw Materials
       4.3. List of Potential Buyers
       4.4. Marketing Channel
           4.4.1. Direct Marketing
           4.4.2. Indirect Marketing
           4.4.3. Marketing Channel Development Trend
 
5 . IMPACT ANALYSIS OF COVID-19 OUTBREAK
       5.1. Impact Analysis of Covid-19 Outbreak
           5.1.1. Direct Impact on Production
           5.1.2. Supply Chain and Market Disruption
           5.1.3. Financial Impact on Firms and Financial Markets
       5.2. COVID-19 Impact Analysis by Production, Import, Export and Demand
       5.3. Market: Pre V/S Post COVID-19
       5.4. Estimated Impact of the Coronavirus (COVID-19) Epidemic
       5.5. COVID-19: Micro and Macro Factor Analysis
 
6 . GLOBAL GAS TURBINE MARKET ANALYSIS BY TECHNOLOGY
       6.1 Overview by Technology
       6.2 Historical and Forecast Data
       6.3 Analysis by Technology
       6.4 Open Cycle Market by Regions
       6.5 Combined Cycle Market by Regions
 
7 . GLOBAL GAS TURBINE MARKET ANALYSIS BY APPLICATION
       7.1 Overview by Application
       7.2 Historical and Forecast Data
       7.3 Analysis by Application
       7.4 Power Generation Market by Regions
       7.5 Oil & Gas Market by Regions
       7.6 Other Industrial Applications Market by Regions
 
8 . GLOBAL GAS TURBINE MARKET ANALYSIS BY DESIGN
       8.1 Overview by Design
       8.2 Historical and Forecast Data
       8.3 Analysis by Design
       8.4 Heavy Duty Type Market by Regions
       8.5 Aeroderivative Type Market by Regions
 
9 . GLOBAL GAS TURBINE MARKET ANALYSIS BY RATED CAPACITY
       9.1 Overview by Rated Capacity
       9.2 Historical and Forecast Data
       9.3 Analysis by Rated Capacity
       9.4 Above 300MV Market by Regions
       9.5 120-300MV Market by Regions
       9.6 40-120MV Market by Regions
       9.7 Less Than 40MV Market by Regions
 
10 . GLOBAL GAS TURBINE MARKET ANALYSIS BY GEOGRAPHY
       10.1. Regional Outlook
       10.2. Introduction
       10.3. North America
           10.3.1. Overview, Historic and Forecast Data
           10.3.2. North America By Segment
           10.3.3. North America By Country
           10.3.4. United State
           10.3.5. Canada
           10.3.6. Mexico
       10.4. Europe
           10.4.1. Overview, Historic and Forecast Data
           10.4.2. Europe by Segment
           10.4.3. Europe by Country
           10.4.4. United Kingdom
           10.4.5. France
           10.4.6. Germany
           10.4.7. Italy
           10.4.8. Russia
           10.4.9. Rest Of Europe
       10.5. Asia Pacific
           10.5.1. Overview, Historic and Forecast Data
           10.5.2. Asia Pacific by Segment
           10.5.3. Asia Pacific by Country
           10.5.4. China
           10.5.5. India
           10.5.6. Japan
           10.5.7. South Korea
           10.5.8. Australia
           10.5.9. Rest Of Asia Pacific
       10.6. Latin America
           10.6.1. Overview, Historic and Forecast Data
           10.6.2. Latin America by Segment
           10.6.3. Latin America by Country
           10.6.4. Brazil
           10.6.5. Argentina
           10.6.6. Peru
           10.6.7. Chile
           10.6.8. Rest of Latin America
       10.7. Middle East & Africa
           10.7.1. Overview, Historic and Forecast Data
           10.7.2. Middle East & Africa by Segment
           10.7.3. Middle East & Africa by Country
           10.7.4. Saudi Arabia
           10.7.5. UAE
           10.7.6. Israel
           10.7.7. South Africa
           10.7.8. Rest Of Middle East And Africa
 
11 . COMPETITIVE LANDSCAPE OF THE GAS TURBINE COMPANIES
       11.1. Gas Turbine Market Competition
       11.2. Partnership/Collaboration/Agreement
       11.3. Merger And Acquisitions
       11.4. New Product Launch
       11.5. Other Developments
 
12 . COMPANY PROFILES OF GAS TURBINE INDUSTRY
       12.1. Company Share Analysis
       12.2. Market Concentration Rate
       12.3. Ansaldo
           12.3.1. Company Overview
           12.3.2. Financials
           12.3.3. Products
           12.3.4. Recent Developments
       12.4. BHEL
           12.4.1. Company Overview
           12.4.2. Financials
           12.4.3. Products
           12.4.4. Recent Developments
       12.5. Centrax
           12.5.1. Company Overview
           12.5.2. Financials
           12.5.3. Products
           12.5.4. Recent Developments
       12.6. GE
           12.6.1. Company Overview
           12.6.2. Financials
           12.6.3. Products
           12.6.4. Recent Developments
       12.7. Harbin Electric
           12.7.1. Company Overview
           12.7.2. Financials
           12.7.3. Products
           12.7.4. Recent Developments
       12.8. Kawasaki Heavy Industries
           12.8.1. Company Overview
           12.8.2. Financials
           12.8.3. Products
           12.8.4. Recent Developments
       12.9. MAN Diesel
           12.9.1. Company Overview
           12.9.2. Financials
           12.9.3. Products
           12.9.4. Recent Developments
       12.10. MHPS
           12.10.1. Company Overview
           12.10.2. Financials
           12.10.3. Products
           12.10.4. Recent Developments
       12.11. OPRA
           12.11.1. Company Overview
           12.11.2. Financials
           12.11.3. Products
           12.11.4. Recent Developments
       12.12. Siemens
           12.12.1. Company Overview
           12.12.2. Financials
           12.12.3. Products
           12.12.4. Recent Developments
       12.13. Solar Turbines
           12.13.1. Company Overview
           12.13.2. Financials
           12.13.3. Products
           12.13.4. Recent Developments
       12.14. Vericor Power
           12.14.1. Company Overview
           12.14.2. Financials
           12.14.3. Products
           12.14.4. Recent Developments
       12.15. Zorya
           12.15.1. Company Overview
           12.15.2. Financials
           12.15.3. Products
           12.15.4. Recent Developments
 
 *Note - in company profiling, financial details and recent development are subject to availability or might not be covered in case of private companies
 
LIST OF TABLES

  • Market Snapshot
  • Drivers : Impact Analysis
  • Restraints : Impact Analysis
  • List of Raw Material
  • List of Raw Material Manufactures
  • List of Potential Buyers
  • COVID-19 Impact Analysis by Production, Import, Export and Demand
  • Pre V/S Post COVID-19
  • Estimated Impact Of The Coronavirus (Covid-19) Epidemic
  • COVID-19: Micro and Macro Factor Analysis
  • Analysis by Technology (USD MN)
  • Open Cycle Market by Geography (USD MN)
  • Combined Cycle Market by Geography (USD MN)
  • Analysis Market by Application (USD MN)
  • Power Generation Market by Geography (USD MN)
  • Oil & Gas Market by Geography (USD MN)
  • Other Industrial Applications Market by Geography (USD MN)
  • Analysis by Design (USD MN)
  • Heavy Duty Type Market by Geography (USD MN)
  • Aeroderivative Type Market by Geography (USD MN)
  • Analysis by Rated Capacity (USD MN)
  • Above 300MV Market by Geography (USD MN)
  • 120-300MV Market by Geography (USD MN)
  • 40-120MV Market by Geography (USD MN)
  • Less Than 40MV Market by Geography (USD MN)
  • Global Gas Turbine Market by Geography (USD MN)
  • North America Market Analysis (USD MN)
  • United State Market Analysis (USD MN)
  • Canada Market Analysis (USD MN)
  • Mexico Market Analysis (USD MN)
  • Europe Market Analysis (USD MN)
  • Europe Market Estimate by Country (USD MN)
  • United Kingdom Market Analysis (USD MN)
  • France Market Analysis (USD MN)
  • Germany Market Analysis (USD MN)
  • Italy Market Analysis (USD MN)
  • Russia Market Analysis (USD MN)
  • Spain Market Analysis (USD MN)
  • Rest of Europe Market Analysis (USD MN)
  • Asia Pacific Market Analysis (USD MN)
  • China Market Analysis (USD MN)
  • Japan Market Analysis (USD MN)
  • India Market Analysis (USD MN)
  • South Korea Market Analysis (USD MN)
  • Australia Market Analysis (USD MN)
  • Rest of Asia Pacific Market Analysis (USD MN)
  • Latin America Market Analysis (USD MN)
  • Brazil Market Analysis (USD MN)
  • Argentina Market Analysis (USD MN)
  • Peru Market Analysis (USD MN)
  • Chile Market Analysis (USD MN)
  • Rest of Latin America Market Analysis (USD MN)
  • Middle East & Africa Market Analysis (USD MN)
  • Saudi Arabia Market Analysis (USD MN)
  • UAE Market Analysis (USD MN)
  • Israel Market Analysis (USD MN)
  • South Africa Market Analysis (USD MN)
  • Rest of Middle East and Africa Market Analysis (USD MN)
  • Partnership/Collaboration/Agreement
  • Mergers And Acquisiton
 
LIST OF FIGURES
 
  • Research Scope of Gas Turbine Report
  • Market Research Process
  • Market Research Methodology
  • Global Gas Turbine Market Size, by Region (USD MN)
  • Porters Five Forces Analysis
  • Market Attractiveness Analysis by Technology
  • Market Attractiveness Analysis by Application
  • Market Attractiveness Analysis by Design
  • Market Attractiveness Analysis by Rated Capacity
  • Market Attractiveness Analysis by Region
  • Value Chain Analysis
  • Global Market Analysis by Technology (USD MN)
  • Open Cycle Market by Geography (USD MN)
  • Combined Cycle Market by Geography (USD MN)
  • Global Market Analysis by Application (USD MN)
  • Power Generation Market by Geography (USD MN)
  • Oil & Gas Market by Geography (USD MN)
  • Other Industrial Applications Market by Geography (USD MN)
  • Global Market Analysis by Design (USD MN)
  • Heavy Duty Type Market by Geography (USD MN)
  • Aeroderivative Type Market by Geography (USD MN)
  • Global Market Analysis by Rated Capacity (USD MN)
  • Above 300MV Market by Geography (USD MN)
  • 120-300MV Market by Geography (USD MN)
  • 40-120MV Market by Geography (USD MN)
  • Less Than 40MV Market by Geography (USD MN)
  • Global Market by Revenue
  • North America Market by Revenue
  • Europe Market by Revenue
  • Asia Pacific Market by Revenue
  • Latin America Market by Revenue
  • Middle East & Africa Market by Revenue
  • Recent Development in Industry
  • Company Market Share Analysis, 2020
 
* Kindly note that the above listed are the basic tables and figures of the report and are not limited to the TOC.

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Objectives of Study

  • Define and measure the global market
  • Volume or revenue forecast of the global market and its various sub-segments with respect to main geographies
  • Analyze and identify major market trends along with the factors driving or inhibiting the market growth
  • Study the company profiles of the major market players with their market share
  • Analyze competitive developments

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