Gas Turbine Market by Technology (Open Cycle and Combined Cycle), Design Type (Heavy Duty and Aeroderivative), End User (Power Generation, Oil & Gas), Rated Capacity (1–40 MW, 40–120 MW, 120–300 MW, Above 300 MW) and Region - Global Forecast to 2026
[231 Pages Report] The global gas turbine market in terms of revenue was estimated to be worth $18.9 Billion in 2021 and is projected to reach $22.5 Billion by 2026, growing at a CAGR of 3.6% from 2021 to 2026. Gas turbines are majorly used for power generation. However, they are also used for mechanical drive purposes and in jet engines.
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Gas Turbine Market Dynamics
Driver: Rising demand for electricity
Growing industrialization and increasing use of electrical appliances-because of rising economic activities in developing countrieshave escalated electricity demand. According to the Ministry of Statistics and Program Implementation Government of India, electricity production from utilities increased from 13, 03,493 GWh during 2017–2018 to 13,71,779 GWh during 2018-2019, registering an annual growth of about 5.24%. Thus, the strict emission norms followed by developed nations and growing demand for electricity are expected to drive the installation of natural gas power plants, as natural gas emits less carbon dioxide.
Opportunity: Increased trend of distributed power generation
Electricity was previously delivered through small power plants with low voltage DC-based power distribution. Distributed generation can be used for electric supply and mechanical work (providing torque to move objects). The higher efficiency of gas turbines and reliable generation capacity give them an edge over other distributed generation technologies for providing backup power and onsite generation needs. Hence, the rise of distributed power generation represents a major opportunity for the gas turbines market.
Challenge: Shifting focus toward renewable energy
According to the BP Statistical Review of World Energy June 2017, total global natural gas reserves are 186.6 trillion cubic meters, which are enough to last for 55 years at the current consumption rate. If the US starts exporting natural gas to other markets, the reserve to production ratio would significantly decline. At the current production rate, the supply of global natural gas is sufficient to last for only half the time as that of coal, despite coal production and consumption being much higher in the fast-growing economies of Asia Pacific. Solar and wind power plants act as clean sources of energy. Investment in renewable energy is expected to impact fossil-fired power plants. Therefore, limited natural gas reserves pose a challenge to the gas turbines market.
By design type, aeroderivative segment is expected to grow at a faster rate during 2021-2026
Aeroderivative gas turbine market is expected to grow at a faster rate during the forecast period. The design for aeroderivative gas turbines is based on aircraft engines or aviation gas turbines. Compared to heavy duty gas turbines, aeroderivative gas turbines weigh less, are easy to install, and are faster to start up.
By rated capacity, above 300MW is expected to grow at a faster rate during the forecast period of 2021 to 2026
Lower emission and more power is expected to drive the gas turbine market for this segment. A combined cycle refers to the combination of multiple cycles to generate power. They have lower total emissions since the exhaust is utilized for other operational purposes.
By technology, combined cycle segment is expected to grow at a faster rate during the forecast period of 2021 to 2026
Replacement of old coal-fired power generation capacity is expected to drive the growth for this segment. Gas turbines with a rated capacity of above 300 MW exclusively serve large capacity combined cycle power plants. This segment constitutes the most expensive and largest gas turbines currently available.
By end user, the power generation segment is expected to lead the market during the forecast period
The power generation segment is projected to lead the market during 2021-2026. Gas turbine power plants are widely used as medium-sized peak load plants used to run intermittently during short durations of high power demand on an electric system. They are also used as cogeneration plants for industrial plants with high heat load and district heating schemes.
Asia Pacific dominated the gas turbine market in 2020
Asia Pacific dominated the global gas turbines market share, in terms of value, in 2020. Investment in new large gas-fired combined cycle power generation plants and large coal-fired plants, along with rising electricity demand, is expected to drive the Asia Pacific gas turbine market growth. Also, the growth is expected due to rapid regional industrialization, urbanization, and economic growth, leading to the installation of new power plants in various emerging economies.
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Key Market Players
The key gas turbine industry players include Kawasaki Heavy Industries, Ltd. (Japan), Siemens Energy (Germany), Capstone Green Energy Corporation (US), General Electric (US), Ansaldo Energia (Italy), Mitsubishi Heavy Industries, Ltd. (Japan), United Engine Corporation (Russia), Rolls-Royce plc (England), Harbin Electric Machinery Company Limited (China), OPRA Turbines (Netherlands), Solar Turbines Incorporated (US), Bharat Heavy Electricals Limited (India), Centrax Gas Turbine (England), MTU Aero Engines AG (Germany), IHI Corporation (Japan), Wartsila (Finland), Doosan Heavy Industries & Construction (South Korea), MAPNA Group (Iran), Vericor Power Systems (US), Zorya Mashproekt (Ukraine), MAN Energy Solutions (Germany). These players have adopted product launches, contracts, partnerships, agreements, collaborations, Memorandum of Understanding (MoU), and joint ventures as their growth strategies.
Gas Turbine Market Report Scope
|
Report Attributes |
Details |
|
Market size: |
USD 18.9 Billion in 2021 to USD 22.5 Billion by 2026 |
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Growth Rate: |
3.6% |
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Largest Market: |
Asia Pacific |
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Market Dynamics: |
Drivers, Restraints, Opportunities & Challenges |
|
Forecast Period: |
2021-2026 |
|
Forecast Units: |
Value (USD Billion) |
|
Report Coverage: |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered: |
Gas Turbine Market by Design Type, End User, Technology, Rated Capacity, and Region |
|
Geographies Covered: |
Asia Pacific, North America, Europe, Latin America, and Middle East and Africa |
|
Report Highlights:
|
Updated financial information / product portfolio of players |
|
Key Market Opportunities: |
Increased trend of distributed power generation |
|
Key Market Drivers: |
Increasing demand for natural gas-fired power plants |
This research report categorizes the gas turbines market based on design type, end user, technology, rated capacity, and region.
Based on Design Type
The market has been segmented as follows:
- Heavy duty (frame)
- Aeroderivative
Based on Backing Material
The market has been segmented as follows:
- Power Generation
- Oil & gas
- Other industrial (mechanical drive processes in the steel, aluminum, and manufacturing industries)
Based on Technology
The market has been segmented as follows:
- Open Cycle
- Combined Cycle
Based on Rated Capacity
The market has been segmented as follows:
- 1–40 MW
- 40–120 MW
- 120–300 MW
- Above 300 MW
Based on Region
The market has been segmented as follows:
- Asia Pacific
- North America
- Europe
- Middle East & Africa
- South America
Recent Developments:
- In October 2019, GE launched 7HA.03, the newest version of its HA gas turbine, to power FPL's Dania Beach Clean Energy Center in Fort Lauderdale, Florida.
- In June 2021, OPRA Turbines signed an agreement with Quanta. This partnership enabled Quanta to become a reseller for OPRA Turbines in the offshore oil & gas segment in the North Sea region.
FAQs
What is the current size of the global gas turbine market?
The global gas turbine market size was valued at USD 18.9 Billion in 2021 and is projected to reach USD 22.5 Billion by 2026, at a CAGR of 3.6% during the forecast period.
Who are the leading players in the global gas turbine market?
The leading companies in the gas turbine market include Kawasaki Heavy Industries, Ltd. (Japan), Siemens Energy (Germany), Capstone Green Energy Corporation (US), General Electric (US), Ansaldo Energia (Italy), Mitsubishi Heavy Industries, Ltd. (Japan), United Engine Corporation (Russia), Rolls-Royce plc (England), Harbin Electric Machinery Company Limited (China), OPRA Turbines (Netherlands), Solar Turbines Incorporated (US), Bharat Heavy Electricals Limited (India), Centrax Gas Turbine (England), MTU Aero Engines AG (Germany), IHI Corporation (Japan), Wartsila (Finland), Doosan Heavy Industries & Construction (South Korea), MAPNA Group (Iran), Vericor Power Systems (US), Zorya Mashproekt (Ukraine), MAN Energy Solutions (Germany). .
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TABLE OF CONTENTS
1 INTRODUCTION (Page No. - 31)
1.1 OBJECTIVES OF STUDY
1.2 MARKET DEFINITION
1.3 MARKET SCOPE
1.3.1 MARKET SEGMENTATION
1.3.2 REGIONAL SCOPE
1.4 INCLUSIONS & EXCLUSIONS
1.4.1 GAS TURBINES MARKET, BY REGION: INCLUSIONS & EXCLUSIONS
1.4.2 YEARS CONSIDERED FOR STUDY
1.5 CURRENCY
1.6 UNIT CONSIDERED
1.7 RESEARCH LIMITATIONS
1.8 STAKEHOLDERS
1.9 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY (Page No. - 36)
2.1 RESEARCH DATA
FIGURE 1 GAS TURBINE MARKET: RESEARCH DESIGN
2.1.1 SECONDARY DATA
2.1.1.1 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Key data from primary sources
2.1.2.2 Breakdown of primary interviews
2.2 MATRIX CONSIDERED FOR DEMAND-SIDE
FIGURE 2 MAIN MATRIX CONSIDERED WHILE CONSTRUCTING AND ASSESSING DEMAND FOR GAS TURBINE
2.3 MARKET SIZE ESTIMATION
2.3.1 BOTTOM-UP APPROACH
FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
2.3.2 TOP-DOWN APPROACH
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
FIGURE 5 METHODOLOGY FOR SUPPLY-SIDE SIZING OF MARKET
FIGURE 6 METHODOLOGY FOR SUPPLY-SIDE SIZING OF MARKET (2/2)
2.3.2.1 Calculations for supply-side analysis
2.3.3 FORECAST
2.4 GROWTH RATE ASSUMPTIONS/GROWTH FORECAST
2.5 DATA TRIANGULATION
FIGURE 7 GAS TURBINES MARKET: DATA TRIANGULATION
2.6 KEY ASSUMPTIONS WHILE CALCULATING DEMAND-SIDE MARKET SIZE
2.7 LIMITATIONS
2.8 RISK ANALYSIS
3 EXECUTIVE SUMMARY (Page No. - 44)
TABLE 1 GAS TURBINE MARKET SNAPSHOT
FIGURE 8 ASIA PACIFIC HELD LARGEST SHARE OF MARKET IN 2020
FIGURE 9 COMBINED CYCLE SEGMENT IS EXPECTED TO LEAD MARKET, BY TECHNOLOGY, DURING FORECAST PERIOD
FIGURE 10 POWER GENERATION WAS LARGEST END-USER SEGMENT FOR GAS TURBINES IN 2020
FIGURE 11 GAS TURBINES OF ABOVE 300 MW RATING CAPACITY ARE EXPECTED TO DOMINATE MARKET DURING FORECAST PERIOD
4 PREMIUM INSIGHTS (Page No. - 48)
4.1 SIGNIFICANT OPPORTUNITIES IN GAS TURBINE MARKET
FIGURE 12 REPLACEMENT OF PHASED NUCLEAR & COAL POWER PLANTS ALONG WITH REQUIREMENT OF EFFICIENT POWER GENERATION TECHNOLOGY IS EXPECTED TO DRIVE MARKET GROWTH
4.2 GAS TURBINES MARKET, BY REGION
FIGURE 13 MARKET IN SOUTH AMERICA IS EXPECTED TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
4.3 MARKET, BY TECHNOLOGY
FIGURE 14 COMBINED CYCLE SEGMENT HELD LARGEST SIZE OF MARKET IN 2020
4.4 MARKET, BY DESIGN TYPE
FIGURE 15 HEAVY DUTY SEGMENT DOMINATED MARKET IN 2020
4.5 MARKET, BY RATED CAPACITY
FIGURE 16 ABOVE 300 MW SEGMENT DOMINATED MARKET IN 2020
4.6 MARKET, BY END-USER
FIGURE 17 POWER GENERATION SEGMENT DOMINATED MARKET IN 2020
5 MARKET OVERVIEW (Page No. - 51)
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 18 MARKET DYNAMICS FOR GAS TURBINE MARKET
5.2.1 DRIVERS
5.2.1.1 Increasing demand for natural gas-fired power plants
FIGURE 19 NATURAL GAS CONSUMPTION, 2017–2019
5.2.1.2 Rising demand for electricity
FIGURE 20 GLOBAL ELECTRICITY GENERATION, 2016–2020
FIGURE 21 ELECTRICITY GENERATION OF SOME MAJOR COUNTRIES, 2016–2020
FIGURE 22 ELECTRICITY GENERATION BY NATURAL GAS OF SOME MAJOR COUNTRIES
5.2.1.3 Efficient power generation technology
5.2.1.4 Reduction in emission of carbon dioxide
5.2.1.5 Impact of shale gas
FIGURE 23 IMPACT OF DRIVERS ON GAS TURBINE MARKET
5.2.2 RESTRAINTS
5.2.2.1 Natural gas price volatility
5.2.2.2 Natural gas infrastructure concerns
FIGURE 24 IMPACT OF RESTRAINTS ON GAS TURBINES MARKET
5.2.3 OPPORTUNITIES
5.2.3.1 Increased trend of distributed power generation
5.2.3.2 Replacement of phased out nuclear & coal plants
FIGURE 25 US: NATURAL GAS EXPORT, 2016–2020
FIGURE 26 IMPACT OF OPPORTUNITIES ON MARKET
5.2.4 CHALLENGES
5.2.4.1 Shifting focus toward renewable energy
5.2.4.2 Impact of COVID-19 on market
FIGURE 27 IMPACT OF CHALLENGES ON MARKET
5.3 PORTER'S FIVE FORCES ANALYSIS
FIGURE 28 GAS TURBINE MARKET: PORTER'S FIVE FORCES ANALYSIS
TABLE 2 MARKET: PORTER'S FIVE FORCES ANALYSIS
5.3.1 THREAT OF NEW ENTRANTS
5.3.2 THREAT OF SUBSTITUTES
5.3.3 BARGAINING POWER OF SUPPLIERS
5.3.4 BARGAINING POWER OF BUYERS
5.3.5 INTENSITY OF COMPETITIVE RIVALRY
5.4 ECOSYSTEM/MARKET MAP
FIGURE 29 GAS TURBINES MARKET: ECOSYSTEM/MARKET MAP
5.5 PRICING ANALYSIS
TABLE 3 AVERAGE PRICE OF GAS TURBINE, BY TECHNOLOGY
FIGURE 30 INSTALLED COST FOR GAS TURBINE
5.6 CASE STUDY ANALYSIS
5.6.1 CASE STUDY 1
5.6.1.1 2 MS6001B Gas turbine & GTE EcoValue 400i Water Wash System
5.6.2 CASE STUDY 2
5.6.2.1 CHP System for a Chemical Manufacturer: 30 MW-class CHP System with Green Gas Turbine for Chemical Manufacturing
5.7 IMPACT OF COVID-19 ON SUPPLY CHAIN
5.8 VALUE CHAIN
FIGURE 31 GAS TURBINE MARKET: VALUE CHAIN
5.9 REGULATORY LANDSCAPE
5.1 TECHNOLOGY ANALYSIS
5.10.1 NEW REDUCED EMISSIONS
5.10.2 NEW TURBINES
5.10.3 ADAPTING TO AN EXTENDED FUEL SPECTRUM
5.11 TRADE DATA
5.11.1 GAS TURBINE IMPORT DATA
5.11.2 GAS TURBINE EXPORT DATA
5.12 PATENT ANALYSIS
5.12.1 METHODOLOGY
5.12.2 DOCUMENT TYPE
FIGURE 32 NUMBER OF GRANTED PATENT, PATENT APPLICATION, AND LIMITED PATENT
FIGURE 33 PUBLICATION TRENDS - LAST 10 YEARS
5.13 INSIGHT
5.13.1 LEGAL STATUS OF THE PATENTS
FIGURE 34 LEGAL STATUS OF THE PATENTS
5.13.2 JURISDICTION ANALYSIS
FIGURE 35 TOP JURISDICTION- BY DOCUMENT
5.13.3 TOP COMPANIES/APPLICANTS
FIGURE 36 TOP 10 COMPANIES/APPLICANTS WITH HIGHEST NUMBER OF PATENTS
TABLE 4 LIST OF PATENTS BY UNITED TECHNOLOGIES CORP
TABLE 5 LIST OF PATENTS BY GEN ELECTRIC
TABLE 6 LIST OF PATENTS BY SIEMENS AG
TABLE 7 TOP 10 PATENT OWNERS (US) IN LAST 10 Y EARS
6 GAS TURBINE MARKET, BY DESIGN TYPE (Page No. - 77)
6.1 INTRODUCTION
FIGURE 37 HEAVY DUTY SEGMENT TO LEAD GAS TURBINES MARKET DURING FORECAST PERIOD
TABLE 8 MARKET SIZE, BY DESIGN TYPE, 2017–2020 (USD MILLION)
TABLE 9 MARKET SIZE, BY DESIGN TYPE, 2021–2026 (USD MILLION)
6.2 HEAVY DUTY
6.2.1 INCREASED NUMBER OF GAS-FIRED POWER PLANTS TO ENHANCE DEMAND FOR HEAVY DUTY SEGMENT
TABLE 10 HEAVY DUTY: MARKET SIZE, BY REGION, 2017–2020 (USD MILLION)
TABLE 11 HEAVY DUTY: MARKET SIZE, BY REGION, 2021–2026 (USD MILLION)
6.3 AERODERIVATIVE
6.3.1 DEMAND FOR HIGHLY EFFICIENT SIMPLE CYCLE GAS TURBINES IS EXPECTED TO PROPEL DEMAND
TABLE 12 AERODERIVATIVE: MARKET SIZE, BY REGION, 2017–2020 (USD MILLION)
TABLE 13 AERODERIVATIVE: MARKET SIZE, BY REGION, 2021–2026 (USD MILLION)
7 GAS TURBINE MARKET, BY TECHNOLOGY (Page No. - 81)
7.1 INTRODUCTION
FIGURE 38 COMBINED CYCLE SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
TABLE 14 MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
TABLE 15 MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)
7.2 OPEN CYCLE
7.2.1 LOW COST AND LESSER SPACE REQUIREMENT OF OPEN CYCLE GAS TURBINE IS EXPECTED TO ENHANCE DEMAND OF SEGMENT
TABLE 16 OPEN CYCLE: MARKET SIZE, BY REGION, 2017–2020 (USD MILLION)
TABLE 17 OPEN CYCLE: MARKET SIZE, BY REGION, 2021–2026 (USD MILLION)
7.3 COMBINED CYCLE
7.3.1 MORE POWER AND LOWER EMISSION WILL DRIVE MARKET FOR THIS SEGMENT
TABLE 18 COMBINED CYCLE: MARKET SIZE, BY REGION, 2017–2020 (USD MILLION)
TABLE 19 COMBINED CYCLE: MARKET SIZE, BY REGION, 2021–2026 (USD MILLION)
8 GAS TURBINE MARKET, BY RATED CAPACITY (Page No. - 85)
8.1 INTRODUCTION
FIGURE 39 ABOVE 300 MV SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
TABLE 20 MARKET SIZE, BY RATED CAPACITY, 2017–2020 (USD MILLION)
TABLE 21 MARKET SIZE, BY RATED CAPACITY, 2021–2026 (USD MILLION)
8.2 1–40 MW
8.2.1 INCREASING INVESTMENT IN DISTRIBUTED POWER GENERATION IS EXPECTED TO ENHANCE DEMAND FOR SEGMENT
TABLE 22 1–40 MW: MARKET SIZE, BY REGION, 2017–2020 (USD MILLION)
TABLE 23 1–40 MW: MARKET SIZE, BY REGION, 2021–2026 (USD MILLION)
8.3 40–120 MW
8.3.1 INCREASED COGENERATION APPLICATIONS IN CHP PLANTS WILL ENHANCE MARKET SEGMENT
TABLE 24 40–120 MW: MARKET SIZE, BY REGION, 2017–2020 (USD MILLION)
TABLE 25 40–120 MW: MARKET SIZE, BY REGION, 2021–2026 (USD MILLION)
8.4 120–300 MW
8.4.1 GROWING DEMAND FOR COMBINED CYCLE POWER PLANTS IS EXPECTED TO ENHANCE DEMAND
TABLE 26 120–300 MW: MARKET SIZE, BY REGION, 2017–2020 (USD MILLION)
TABLE 27 120–300 MW: MARKET SIZE, BY REGION, 2021–2026 (USD MILLION)
8.5 ABOVE 300 MW
8.5.1 REPLACEMENT OF OLD COAL-FIRED POWER GENERATION CAPACITY WILL BE DRIVING FACTOR FOR SEGMENT
TABLE 28 ABOVE 300 MW: MARKET SIZE, BY REGION, 2017–2020 (USD MILLION)
TABLE 29 ABOVE 300 MW: MARKET SIZE, BY REGION, 2021–2026 (USD MILLION)
9 GAS TURBINE MARKET, BY END-USER (Page No. - 91)
9.1 INTRODUCTION
FIGURE 40 POWER GENERATION SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
TABLE 30 MARKET SIZE, BY END-USER, 2017–2020 (USD MILLION)
TABLE 31 MARKET SIZE, BY END-USER, 2021–2026 (USD MILLION)
9.2 POWER GENERATION
9.2.1 GROWING ELECTRICITY DEMAND IS EXPECTED TO ENHANCE DEMAND FOR GAS TURBINES IN POWER GENERATION
TABLE 32 POWER GENERATION: MARKET SIZE, BY REGION, 2017–2020 (USD MILLION)
TABLE 33 POWER GENERATION: MARKET SIZE, BY REGION, 2021–2026 (USD MILLION)
9.3 OIL & GAS
9.3.1 VARIOUS APPLICATION OF GAS TURBINE IN OIL & GAS INDUSTRY IS EXPECTED TO FUEL DEMAND FOR SEGMENT
TABLE 34 OIL & GAS: MARKET SIZE, BY REGION, 2017–2020 (USD MILLION)
TABLE 35 OIL & GAS: MARKET SIZE, BY REGION, 2021–2026 (USD MILLION)
9.4 OTHER INDUSTRIES
TABLE 36 OTHER INDUSTRIES: MARKET SIZE, BY REGION, 2017–2020 (USD MILLION)
TABLE 37 OTHER INDUSTRIES: MARKET SIZE, BY REGION, 2021–2026 (USD MILLION)
10 GAS TURBINE MARKET, BY REGION (Page No. - 97)
10.1 INTRODUCTION
FIGURE 41 REGIONAL SNAPSHOT: RAPID GROWTH IN DEVELOPING MARKETS
TABLE 38 GAS TURBINE MARKET SIZE, BY REGION, 2017–2020 (USD MILLION)
TABLE 39 MARKET SIZE, BY REGION, 2021–2026 (USD MILLION)
10.2 ASIA PACIFIC
FIGURE 42 ASIA PACIFIC MARKET SNAPSHOT
TABLE 40 ASIA PACIFIC: GAS TURBINE MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
TABLE 41 ASIA PACIFIC: MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)
TABLE 42 ASIA PACIFIC: MARKET SIZE, BY DESIGN TYPE, 2017–2020 (USD MILLION)
TABLE 43 ASIA PACIFIC: MARKET SIZE, BY DESIGN TYPE, 2021–2026 (USD MILLION)
TABLE 44 ASIA PACIFIC: GAS TURBINES MARKET SIZE, BY RATED CAPACITY, 2017–2020 (USD MILLION)
TABLE 45 ASIA PACIFIC: GAS TURBINE SIZE, BY RATED CAPACITY, 2021–2026 (USD MILLION)
TABLE 46 ASIA PACIFIC: MARKET SIZE, BY END–USER, 2017–2020 (USD MILLION)
TABLE 47 ASIA PACIFIC: MARKET SIZE, BY END–USER, 2021–2026 (USD MILLION)
TABLE 48 ASIA PACIFIC: MARKET SIZE, BY COUNTRY 2017–2020 (USD MILLION)
TABLE 49 ASIA PACIFIC: MARKET SIZE, BY COUNTRY 2021–2026 (USD MILLION)
10.2.1 CHINA
10.2.1.1 Increase in electricity demand is driving growth of gas turbines market
TABLE 50 CHINA: MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
TABLE 51 CHINA: MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)
10.2.2 INDIA
10.2.2.1 India is moving towards a hydrogen economy, driving growth of gas turbines market
TABLE 52 INDIA: MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
TABLE 53 INDIA: MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)
10.2.3 JAPAN
10.2.3.1 Japan's increase in natural gas consumption drives gas turbines market
TABLE 54 JAPAN: MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
TABLE 55 JAPAN: MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)
10.2.4 SOUTH KOREA
10.2.4.1 Natural gas consumption is expected to increase due to increased electricity
TABLE 56 SOUTH KOREA: MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
TABLE 57 SOUTH KOREA: MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)
10.2.5 REST OF ASIA PACIFIC
TABLE 58 REST OF ASIA PACIFIC: MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
TABLE 59 REST OF ASIA PACIFIC: MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)
10.3 EUROPE
FIGURE 43 EUROPE: MARKET SNAPSHOT
TABLE 60 EUROPE: GAS TURBINE MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
TABLE 61 EUROPE: MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)
TABLE 62 EUROPE: MARKET SIZE, BY DESIGN TYPE, 2017–2020 (USD MILLION)
TABLE 63 EUROPE: MARKET SIZE, BY DESIGN TYPE, 2021–2026 (USD MILLION)
TABLE 64 EUROPE: GAS TURBINE SIZE, BY RATED CAPACITY, 2017–2020 (USD MILLION)
TABLE 65 EUROPE: GAS TURBINES MARKET SIZE, BY RATED CAPACITY, 2021–2026 (USD MILLION)
TABLE 66 EUROPE: MARKET SIZE, BY END–USER, 2017–2020 (USD MILLION)
TABLE 67 EUROPE: MARKET SIZE, BY END–USER, 2021–2026 (USD MILLION)
TABLE 68 EUROPE: MARKET SIZE, BY COUNTRY 2017–2020 (USD MILLION)
TABLE 69 EUROPE: MARKET SIZE, BY COUNTRY 2021–2026 (USD MILLION)
10.3.1 GERMANY
10.3.1.1 Increase in demand for new gas-fired power plant capacity, expected to drive gas turbines market in Germany
TABLE 70 GERMANY: GAS TURBINE MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
TABLE 71 GERMANY: MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)
10.3.2 UK
10.3.2.1 Focus on renewables and natural gas-driven energy drives demand for gas turbine
TABLE 72 UK: MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
TABLE 73 UK: MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)
10.3.3 ITALY
10.3.3.1 Natural gas being one of the major sources of power generation, is expected to drive market
TABLE 74 ITALY: MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
TABLE 75 ITALY: MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)
10.3.4 RUSSIA
10.3.4.1 Growing investments related to natural gas and its usage will fuel market
TABLE 76 RUSSIA: MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
TABLE 77 RUSSIA: MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)
10.3.5 REST OF EUROPE
TABLE 78 REST OF EUROPE: MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
TABLE 79 REST OF EUROPE: MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)
10.4 NORTH AMERICA
FIGURE 44 NORTH AMERICAN MARKET SNAPSHOT
TABLE 80 NORTH AMERICA: GAS TURBINE MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
TABLE 81 NORTH AMERICA: MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)
TABLE 82 NORTH AMERICA: MARKET SIZE, BY DESIGN TYPE, 2017–2020 (USD MILLION)
TABLE 83 NORTH AMERICA: MARKET SIZE, BY DESIGN TYPE, 2021–2026 (USD MILLION)
TABLE 84 NORTH AMERICA: GAS TURBINES MARKET SIZE, BY RATED CAPACITY, 2017–2020 (USD MILLION)
TABLE 85 NORTH AMERICA: GAS TURBINE SIZE, BY RATED CAPACITY, 2021–2026 (USD MILLION)
TABLE 86 NORTH AMERICA: MARKET SIZE, BY END–USER, 2017–2020 (USD MILLION)
TABLE 87 NORTH AMERICA: MARKET SIZE, BY END–USER, 2021–2026 (USD MILLION)
TABLE 88 NORTH AMERICA: MARKET SIZE, BY COUNTRY 2017–2020 (USD MILLION)
TABLE 89 NORTH AMERICA: MARKET SIZE, BY COUNTRY 2021–2026 (USD MILLION)
10.4.1 US
10.4.1.1 Growth of new cogeneration and combined cycle power plants is expected to drive market
TABLE 90 US: MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
TABLE 91 US: MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)
10.4.2 CANADA
10.4.2.1 Growing number of combined cycle natural gas-fired power plants is expected to drive market
TABLE 92 CANADA: MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
TABLE 93 CANADA: MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)
10.4.3 MEXICO
10.4.3.1 Growing investments in power sector will lead to an increase in demand for gas turbine
TABLE 94 MEXICO: MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
TABLE 95 MEXICO: MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)
10.5 MIDDLE EAST & AFRICA
TABLE 96 MIDDLE EAST & AFRICA: GAS TURBINE MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
TABLE 97 MIDDLE EAST & AFRICA: MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)
TABLE 98 MIDDLE EAST & AFRICA: MARKET SIZE, BY DESIGN TYPE, 2017–2020 (USD MILLION)
TABLE 99 MIDDLE EAST & AFRICA: MARKET SIZE, BY DESIGN TYPE, 2021–2026 (USD MILLION)
TABLE 100 MIDDLE EAST & AFRICA: GAS TURBINES MARKET SIZE, BY RATED CAPACITY, 2017–2020 (USD MILLION)
TABLE 101 MIDDLE EAST & AFRICA: GAS TURBINE SIZE, BY RATED CAPACITY, 2021–2026 (USD MILLION)
TABLE 102 MIDDLE EAST & AFRICA: MARKET SIZE, BY END–USER, 2017–2020 (USD MILLION)
TABLE 103 MIDDLE EAST & AFRICA: MARKET SIZE, BY END–USER, 2021–2026 (USD MILLION)
TABLE 104 MIDDLE EAST & AFRICA: MARKET SIZE, BY COUNTRY, 2017–2020 (USD MILLION)
TABLE 105 MIDDLE EAST & AFRICA: MARKET SIZE, BY COUNTRY, 2021–2026 (USD MILLION)
10.5.1 SAUDI ARABIA
10.5.1.1 Efforts to increase natural gas-fired power generation are expected to boost Saudi Arabia’s demand for market
TABLE 106 SAUDI ARABIA: MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
TABLE 107 SAUDI ARABIA: MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)
10.5.2 UAE
10.5.2.1 Growing demand for electricity is expected to drive market
TABLE 108 UAE: MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
TABLE 109 UAE: MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)
10.5.3 IRAN
10.5.3.1 Growing domestic demand for power is expected to drive market
TABLE 110 IRAN: MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
TABLE 111 IRAN: MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)
10.5.4 EGYPT
10.5.4.1 Natural gas being major electricity generation fuel, is expected to propel demand for gas turbine
TABLE 112 EGYPT: MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
TABLE 113 EGYPT: MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)
10.5.5 REST OF MIDDLE EAST & AFRICA
TABLE 114 REST OF MIDDLE EAST & AFRICA: MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
TABLE 115 REST OF MIDDLE EAST & AFRICA: MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)
10.6 SOUTH AMERICA
TABLE 116 SOUTH AMERICA: GAS TURBINE MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
TABLE 117 SOUTH AMERICA: MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)
TABLE 118 SOUTH AMERICA: MARKET SIZE, BY DESIGN TYPE, 2017–2020 (USD MILLION)
TABLE 119 SOUTH AMERICA: MARKET SIZE, BY DESIGN TYPE, 2021–2026 (USD MILLION)
TABLE 120 SOUTH AMERICA: GAS TURBINES MARKET SIZE, BY RATED CAPACITY, 2017–2020 (USD MILLION)
TABLE 121 SOUTH AMERICA: GAS TURBINE SIZE, BY RATED CAPACITY, 2021–2026 (USD MILLION)
TABLE 122 SOUTH AMERICA: MARKET SIZE, BY END–USER, 2017–2020 (USD MILLION)
TABLE 123 SOUTH AMERICA: MARKET SIZE, BY END–USER, 2021–2026 (USD MILLION)
TABLE 124 SOUTH AMERICA: MARKET SIZE, BY COUNTRY, 2017–2020 (USD MILLION)
TABLE 125 SOUTH AMERICA: MARKET SIZE, BY COUNTRY, 2021–2026 (USD MILLION)
10.6.1 BRAZIL
10.6.1.1 Country's oil & gas sector is expected to boost market
TABLE 126 BRAZIL: MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
TABLE 127 BRAZIL: MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)
10.6.2 ARGENTINA
10.6.2.1 Growing utilization of natural gas for production of electricity is expected to be one of the major growth factors for gas turbines in country
TABLE 128 ARGENTINA: MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
TABLE 129 ARGENTINA: MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)
10.6.3 REST OF SOUTH AMERICA
TABLE 130 REST OF SOUTH AMERICA: MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
TABLE 131 REST OF SOUTH AMERICA: MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)
11 COMPETITIVE LANDSCAPE (Page No. - 131)
11.1 KEY PLAYERS' STRATEGIES
TABLE 132 OVERVIEW OF KEY STRATEGIES ADOPTED BY TOP PLAYERS, 2018–2021
11.2 REVENUE ANALYSIS
FIGURE 45 REVENUE SHARE ANALYSIS IN MARKET
11.3 MARKET SHARE ANALYSIS
FIGURE 46 MARKET: MARKET SHARE ANALYSIS
TABLE 133 MARKET: DEGREE OF COMPETITION
11.3.1 GENERAL ELECTRIC
11.3.2 MITSUBISHI HEAVY INDUSTRIES, LTD.
11.3.3 SIEMENS ENERGY
11.3.4 ANSALDO ENERGIA
11.3.5 UNITED ENGINE CORPORATION
11.3.6 KAWASAKI HEAVY INDUSTRIES, LTD.
TABLE 134 MARKET: TECHNOLOGY FOOTPRINT
TABLE 135 MARKET: DESIGN FOOTPRINT
TABLE 136 MARKET: REGION FOOTPRINT
11.4 COMPANY EVALUATION QUADRANT
11.4.1 STARS
11.4.2 PERVASIVE
11.4.3 EMERGING LEADERS
11.4.4 PARTICIPANTS
FIGURE 47 MARKET (GLOBAL) COMPETITIVE LEADERSHIP MAPPING, 2020
11.5 COMPETITIVE LEADERSHIP MAPPING OF SME, 2020
11.5.1 PROGRESSIVE COMPANIES
11.5.2 RESPONSIVE COMPANIES
11.5.3 STARTING BLOCKS
11.5.4 DYNAMIC COMPANIES
FIGURE 48 OTHER ADDITIONAL PLAYERS/SMES EVALUATION MATRIX FOR MARKET
11.6 COMPETITIVE SCENARIO
TABLE 137 MARKET: PRODUCT LAUNCHES, 2018–2021
TABLE 138 MARKET: DEALS, 2018–2021
TABLE 139 MARKET: OTHER DEVELOPMENTS, 2018–2021
12 COMPANY PROFILES (Page No. - 158)
(Business Overview, Products/Solutions/Services Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
12.1.1 GENERAL ELECTRIC
TABLE 140 GENERAL ELECTRIC: COMPANY OVERVIEW
FIGURE 49 GENERAL ELECTRIC: COMPANY SNAPSHOT
TABLE 141 GENERAL ELECTRIC: PRODUCT OFFERINGS
TABLE 142 GENERAL ELECTRIC: PRODUCT LAUNCHES
TABLE 143 GENERAL ELECTRIC: DEAL
TABLE 144 GENERAL ELECTRIC: OTHERS
12.1.2 MITSUBISHI HEAVY INDUSTRIES, LTD.
TABLE 145 MITSUBISHI HEAVY INDUSTRIES, LTD.: COMPANY OVERVIEW
FIGURE 50 MITSUBISHI HEAVY INDUSTRIES, LTD.: COMPANY SNAPSHOT
TABLE 146 MITSUBISHI HEAVY INDUSTRIES, LTD.: PRODUCT OFFERINGS
TABLE 147 MITSUBISHI HEAVY INDUSTRIES, LTD.: DEAL
TABLE 148 MITSUBISHI HEAVY INDUSTRIES, LTD.: OTHERS
12.1.3 SIEMENS ENERGY
TABLE 149 SIEMENS ENERGY: COMPANY OVERVIEW
FIGURE 51 SIEMENS ENERGY: COMPANY SNAPSHOT
TABLE 150 SIEMENS ENERGY: PRODUCT OFFERINGS
TABLE 151 SIEMENS ENERGY: DEALS
12.1.4 ANSALDO ENERGIA
TABLE 152 ANSALDO ENERGIA: COMPANY OVERVIEW
FIGURE 52 ANSALDO ENERGIA: COMPANY SNAPSHOT
TABLE 153 ANSALDO ENERGIA: PRODUCT OFFERINGS
TABLE 154 ANSALDO ENERGIA: PRODUCT LAUNCHES
TABLE 155 ANSALDO ENERGIA: DEALS
TABLE 156 ANSALDO ENERGIA: OTHERS
12.1.5 UNITED ENGINE CORPORATION
TABLE 157 UNITED ENGINE CORPORATION: COMPANY OVERVIEW
TABLE 158 UNITED ENGINE CORPORATION: PRODUCT OFFERINGS
TABLE 159 UNITED ENGINE CORPORATION: OTHERS
12.1.6 KAWASAKI HEAVY INDUSTRIES, LTD.
TABLE 160 KAWASAKI HEAVY INDUSTRIES, LTD.: COMPANY OVERVIEW
FIGURE 53 KAWASAKI HEAVY INDUSTRIES, LTD.: COMPANY SNAPSHOT
TABLE 161 KAWASAKI HEAVY INDUSTRIES, LTD.: PRODUCT OFFERINGS
TABLE 162 KAWASAKI HEAVY INDUSTRIES, LTD.: DEALS
TABLE 163 KAWASAKI HEAVY INDUSTRIES, LTD.: OTHERS
12.1.7 CAPSTONE GREEN ENERGY CORPORATION
TABLE 164 CAPSTONE GREEN ENERGY CORPORATION: COMPANY OVERVIEW
FIGURE 54 CAPSTONE GREEN ENERGY CORPORATION: COMPANY SNAPSHOT
TABLE 165 CAPSTONE GREEN ENERGY CORPORATION: PRODUCT OFFERINGS
TABLE 166 CAPSTONE GREEN ENERGY CORPORATION: DEALS
12.1.8 ROLLS-ROYCE PLC
TABLE 167 ROLLS-ROYCE PLC: COMPANY OVERVIEW
FIGURE 55 ROLLS-ROYCE PLC: COMPANY SNAPSHOT
TABLE 168 ROLLS-ROYCE PLC: PRODUCT OFFERINGS
12.1.9 HARBIN ELECTRIC MACHINERY COMPANY LIMITED
TABLE 169 HARBIN ELECTRIC MACHINERY COMPANY LIMITED: COMPANY OVERVIEW
FIGURE 56 HARBIN ELECTRIC MACHINERY COMPANY LIMITED: COMPANY SNAPSHOT
TABLE 170 HARBIN ELECTRIC MACHINERY COMPANY LIMITED: PRODUCT OFFERINGS
12.1.10 OPRA TURBINES
TABLE 171 OPRA TURBINES: COMPANY OVERVIEW
TABLE 172 OPRA TURBINES: PRODUCT OFFERINGS
TABLE 173 OPRA TURBINES: DEALS
12.1.11 SOLAR TURBINES INCORPORATED
TABLE 174 SOLAR TURBINES INCORPORATED: COMPANY OVERVIEW
TABLE 175 SOLAR TURBINES INCORPORATED: PRODUCT OFFERINGS
12.1.12 BHARAT HEAVY ELECTRICALS LIMITED
TABLE 176 BHARAT HEAVY ELECTRICALS LIMITED: COMPANY OVERVIEW
FIGURE 57 BHARAT HEAVY ELECTRICALS LIMITED: COMPANY SNAPSHOT
TABLE 177 BHARAT HEAVY ELECTRICALS LIMITED: PRODUCT OFFERINGS
12.1.13 CENTRAX GAS TURBINE
TABLE 178 CENTRAX GAS TURBINE: COMPANY OVERVIEW
TABLE 179 CENTRAX GAS TURBINE: PRODUCT OFFERINGS
12.1.14 MTU AERO ENGINES AG
TABLE 180 MTU AERO ENGINES AG: COMPANY OVERVIEW
FIGURE 58 MTU AERO ENGINES AG: COMPANY SNAPSHOT
TABLE 181 MTU AERO ENGINES AG: PRODUCT OFFERINGS
TABLE 182 MTU AERO ENGINES AG: DEALS
TABLE 183 MTU AERO ENGINES AG: OTHERS
12.1.15 IHI CORPORATION
TABLE 184 IHI CORPORATION: COMPANY OVERVIEW
FIGURE 59 IHI CORPORATION: COMPANY SNAPSHOT
TABLE 185 IHI CORPORATION: PRODUCT OFFERINGS
TABLE 186 IHI CORPORATION: DEALS
TABLE 187 WARTSILA: COMPANY OVERVIEW
FIGURE 60 WARTSILA: COMPANY SNAPSHOT
TABLE 188 WARTSILA: PRODUCT OFFERINGS
TABLE 189 WARTSILA: DEALS
TABLE 190 WARTSILA: OTHERS
12.1.17 DOOSAN HEAVY INDUSTRIES & CONSTRUCTION
TABLE 191 DOOSAN HEAVY INDUSTRIES & CONSTRUCTION: COMPANY OVERVIEW
FIGURE 61 DOOSAN HEAVY INDUSTRIES & CONSTRUCTION: COMPANY SNAPSHOT
TABLE 192 DOOSAN HEAVY INDUSTRIES & CONSTRUCTION: PRODUCT OFFERINGS
TABLE 193 DOOSAN HEAVY INDUSTRIES & CONSTRUCTION: DEALS
12.1.18 MAPNA GROUP
TABLE 194 MAPNA GROUP: COMPANY OVERVIEW
TABLE 195 MAPNA GROUP: PRODUCT OFFERINGS
TABLE 196 MAPNA GROUP: DEALS
TABLE 197 MAPNA GROUP: OTHERS
12.1.19 VERICOR POWER SYSTEMS
TABLE 198 VERICOR POWER SYSTEMS: COMPANY OVERVIEW
TABLE 199 VERICOR POWER SYSTEMS: PRODUCT OFFERINGS
TABLE 200 VERICOR POWER SYSTEMS: DEALS
12.1.20 ZORYA MASHPROEKT
TABLE 201 ZORYA MASHPROEK: COMPANY OVERVIEW
TABLE 202 ZORYA MASHPROEKT: PRODUCT OFFERINGS
TABLE 203 ZORYA MASHPROEKT: DEALS
TABLE 204 ZORYA MASHPROEKT: OTHERS
12.1.21 MAN ENERGY SOLUTIONS
TABLE 205 MAN ENERGY SOLUTIONS: COMPANY OVERVIEW
TABLE 206 MAN ENERGY SOLUTIONS: PRODUCT OFFERINGS
TABLE 207 MAN ENERGY SOLUTIONS: OTHERS
12.2 OTHER PLAYERS
12.2.1 POWER MACHINES
TABLE 208 POWER MACHINES: COMPANY OVERVIEW
12.2.2 GAS TURBINE RESEARCH ESTABLISHMENT
TABLE 209 GAS TURBINE RESEARCH ESTABLISHMENT: COMPANY OVERVIEW
12.2.3 HINDUSTAN AERONAUTICS LIMITED
TABLE 210 HINDUSTAN AERONAUTICS LIMITED: COMPANY OVERVIEW
12.2.4 GKN AEROSPACE SERVICES LIMITED
TABLE 211 GKN AEROSPACE SERVICE LIMITED: COMPANY OVERVIEW
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.
12.1 KEY COMPANIES
13 APPENDIX (Page No. - 225)
13.1 DISCUSSION GUIDE
13.2 KNOWLEDGE STORE: MARKETSANDMARKETS SUBSCRIPTION PORTAL
13.3 AVAILABLE CUSTOMIZATIONS
13.4 RELATED REPORTS
13.5 AUTHOR DETAILS
The study involved four major activities in estimating the current size of the gas turbine market. Exhaustive secondary research was done to collect information on the market, peer markets, and parent market. The next step was to validate these findings, assumptions, and sizing with the industry experts across the gas turbine value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
Secondary Research
Secondary sources referred to for this research study include annual reports; press releases and investor presentations of companies; white papers; certified publications; and articles by recognized authors, gold- and silver-standard websites, gas turbine manufacturing companies, regulatory bodies, trade directories, and databases. The secondary research was mainly used to obtain key information about the industry’s supply chain, the total pool of key players, market classification, and segmentation according to industry trends to the bottom-most level and regional markets. It has also been used to obtain information about key developments from a market-oriented perspective.
Primary Research
The gas turbine market comprises several stakeholders, such as raw material suppliers, processors, end-use industries, and regulatory organizations in the supply chain. The demand side of the market is characterized by the presence of gas turbine manufacturers, importers/exporters, and manufacturers engaged in the production of various products. The supply side is characterized by the presence of key technology providers for gas turbine, end users, researchers, and service providers.
In the primary research process, various primary sources from the supply and demand sides of the market have been interviewed to obtain qualitative and quantitative information. The primary interviewees from the demand side included key opinion leaders, executives, vice presidents, and CEOs of construction companies. The primary sources from the supply side included research institutions involved in R&D activities to introduce new technologies, key opinion leaders, distributors, and gas turbine manufacturing companies.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
Both the top-down and bottom-up approaches have been used to estimate and validate the total size of the gas turbines market. These approaches have also been used extensively to estimate the size of various dependent subsegments of the market. The research methodology used to estimate the market size included the following:
The following segments provide details about the overall market size estimation process employed in this study
- The key players in the market were identified through secondary research.
- The market shares in the respective regions were identified through both primary and secondary research.
- The value chain and market size of the market, in terms of value, were determined through primary and secondary research.
- All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.
- All possible parameters that affect the market covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
- The research included the study of annual and financial reports of the top market players and interviews with industry experts, such as CEOs, VPs, directors, sales managers, and marketing executives, for key insights, both quantitative and qualitative.
Global Gas Turbine Market Size: Bottom-Up Approach
Report Objectives
Market Intelligence
- To analyze and forecast the size of the gas turbine market in terms of value
- To define, describe, and forecast the market size by design, technology, end use, rated capacity, and region
- To forecast the market size with respect to five main regions, namely, North America, Europe, Asia Pacific, the Middle East & Africa, and South America
- To provide detailed information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
- To strategically analyze the market segments with respect to individual growth trends, prospects, and their contribution to the market
- To analyze the opportunities in the market for stakeholders and provide a competitive landscape for market leaders
- To analyze competitive developments, such as product launches, contracts, partnerships, agreements, collaborations, Memorandum of Understanding (MoU), and joint ventures as in the gas turbines market
Competitive Intelligence
- To identify and profile the key players in the gas turbines market
- To determine the top players offering various products in the global market
- To provide a comparative analysis of the market leaders based on the following:
- Product offerings
- Business strategies
- Strengths and weaknesses
- Key financials
- To understand the competitive landscape of the market and identify the key growth strategies adopted by the leading players across key regions
Available Customizations
MarketsandMarkets offers the following customizations for this market report:
- Product matrix, which gives a detailed comparison of the product portfolio of each company
Generating Response ...
Growth opportunities and latent adjacency in Gas Turbine Market
We want to know more about the Gas Turbine Market and the opportunities for gas turbines in combined cycle power plants for the 2022 to 2026 forecast year.
I would like to know more about the Gas Turbine Market size and expected CAGR in Europe and North America in 2022 to 2026.
Gas Turbine Market report was published in January this year and the report provides the latest industry trends from both supply-side and demand-side, market trends at a regional level and country level and quantifies the market size and growth forecast at a regional and country level, by multiple industry segments.
Gas Turbines Market share analysis of key players including their revenue analysis for last three years, product and business revenues, key financial analysis, organic and in-organic growth strategies, contract awarded & details of the contracts, key investments and all other key development including SWOT analysis are provided for all global and regional players.
What is the total market size and Vertical outlook Gas Turbine Market? I am looking for North America.