Competitor Analysis of Global Gas Turbines Market | 2016 – 2021 |
Gas turbine is an ignition engine that can transform natural gas or liquid fuels to automatic energy. This energy then pushes a generator that creates electrical energy; moves along power lines to homes and businesses. These turbines consist of three sections such as compressors, the combustion chamber and the turbine. Gas Turbines are used in various applications such as power generation, oil & gas, automobile, food processing and others. The gas turbines are broadly divided into design types such as heavy duty, industrial, aero derivative and others.
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Gas Turbines Market
- By Design Type – Heavy Duty and Industrial
- By Capacity – 1-40MW and 40-120MW
- By Technology – Open Cycle and Combined Cycle
- By Application – Power Generation and Oil & Gas
- By Geography – United States, United Kingdom, APAC and ROW
The gas turbines market has been segmented on the basis of its capacity and technology as well. On the basis of capacity they are manufactured as 1-40MW, 40-120MW, 120-300MW, and above 300MW. On the basis of technology it is again segmented as open cycled and combined cycle plants. Combined cycle plants with heavy duty type of turbines allow high elasticity and low discharges even in part load process. However the heavy duty type gas turbine segment embraces the main share, the aero derivative segment is anticipated to develop at the utmost rate, owed to its higher competence and cost efficiency.
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Asia-Pacific (APAC) is the leading market for gas turbines and is forecast to have highest growth in the next few years due to growing adoption of turbines in the market. North America gas turbines market accounts to XX% of the global market for gas turbines and is the next fastest growing market followed by Europe.
In developing countries such as China and India, reasons such as robust growth in demand for electricity driven by high levels of urbanization, industrialization, & infrastructural expansions and ensuing investments in emerging new large-gas fired combined cycle power generation, apart from other power plants, would shoot the demand for gas turbines. China, Germany, Italy, the U.K., and the U.S. signify the major gas turbine markets.
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