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Gas turbine market is set to exceed USD 34 GW by 2024. Stringent government mandates to curb emissions along with growing environmental concerns, have aligned focus toward the integration of effective measures pertaining to energy conservation.Pivotal for this development has been a re-structuring across the key power markets coupled with rapid technological advancements including the field of combustion, aerodynamics, cooling, and materials which in turn will complement the industry landscape.
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U.S. Gas Turbine Market was 8 GW in 2015 is estimated to grow at around 8% CAGR from 2019 to 2025. The regional growth is influenced by the increasing exploration and petroleum extraction activities.
Growth drivers of Gas Turbine Market
• Inclination towards energy optimization
• Shale gas revolution
• Positive clean energy outlook
• Renewable energy integration
• Restructuring of electrical infrastructure
• Focus towards decentralized generation technologies
• Large scale renewable integration prospects
• Positive outlook towards gas-based electricity generation
Expansion of R&D investment reforms coupled with shifting focus toward effective combined cycle power generation plants will drive the U.S. gas turbine market. In 2016, ICF International have estimated that turbines fabricated by the U.S. manufacturers contributed to around 80% of the natural gas-fired combined cycle power plants across the nation. Government focus toward energy matrix optimization along with straining of available energy resources including coal and hydro power will further nourish the business outlook.
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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
• Siemens AG
• General Electric
• Wartsila
• BHEL
• Mitsubishi Hitachi
• Kawasaki
• Solar Turbines
• Ansaldo Energia
• Opra Turbines
• Vericor
• Capstone Turbine
• Man Diesel & Turbo
• Cryostar
• Harbin Electric
• Zorya-Mashproekt
• and NPO Saturn.
>200 MW gas turbine market share is predicted to grow on account of significant applicability across industries, power generation units, and manufacturing plants. The products are adept with environmental proximity, longer life cycle, effective fuel efficiency with comparatively lower costs. Further, enhanced operational performance along with large capacity integration and flexibility will favor the product adoption.
U.K. gas turbine market is estimated to generate demand of over 1 Gigawatt by 2024, owing to increasing replacement in existing coal fired stations.
Initiatives on several electrification programs such as China Township Electrification Program will stimulate the China gas turbine industry share in the coming years. China market is projected to grow at an annual rate of more than 10% over the period of 2016-2024.
Rapid industrialization and urbanization in India have made it a land of immense potential and opportunities. India gas turbine market is anticipated to register an annual growth rate of 12% over 2016-2024, owing to the rise of numerous private sector investments to improve power generation competence.
Prominent leaders in this industry include Bharat Heavy Electricals, Mitsubishi Heavy Industries, Ltd., Solar Turbines, Harbin Electric, General Electric, Zorya-Mashproekt Corporation, Cryostar, Capstone Turbine Manufacturing company, MAN Diesel & Turbo, Kawasaki Heavy Industries, and Siemens.
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Topics Covered:
Chapter 1. Methodology and Scope
1.1. Methodology
1.2. Market definitions
1.3. Market estimations and forecast parameters
1.4. Data sources
1.4.1. Primary
1.4.2. Secondary
1.4.2.1. Paid sources
1.4.2.2. Public sources
Chapter 2. Executive Summary
2.1. Gas turbine industry 3600 synopsis, 2013 – 2024
2.1.1. Business trends
2.1.2. Regional trends
2.1.3. Capacity trends
2.1.4. Product trends.
2.1.5. Technology trends.
2.1.6. Application trends
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Related Report:
Industrial Emission Control Systems Market Research Report, Growth Trends and Competitive Analysis 2019-2024
https://www.marketwatch.com/press-release/germany-industrial-emission-control-systems-market-size-from-electrostatic-precipitators-device-to-grow-at-7-cagr-by-2024-2019-07-25
Contact Info:
Name: Arun Hegde
Email: Send Email
Organization: Global Market Insights, Inc.
Website: https://www.gminsights.com/pressrelease/gas-turbine-market
Release ID: 88915334
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