Aeroderivative Gas Turbine Market Size, By Capacity (≤ 18 MW, > 18 MW), By Technology (Open Cycle, Combined Cycle), By Application (Power Generation, Oil & Gas, Industrial, Marine, Aviation), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, UK, Russia, Italy, Germany, France, China, India, Japan, South Korea, Saudi Arabia, UAE, Egypt, Algeria, Brazil, Argentina), Price Trends, Competitive Market Share & Forecast, 2016 – 2024

Published Date: Mar 2017 | 162 Pages | Report ID: GMI1184 | Authors: Ankit Gupta, Aditya Singh Bais Report Format: PDF

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Industry Trends

Aeroderivative Gas Turbine Market size was valued over USD 2 billion in 2015 and is predicted to exceed 21 GW by 2024.

UK Aeroderivative Gas Turbine Market, By Capacity, 2013 - 2024 (MW)
UK Aeroderivative Gas Turbine Market, By Capacity, 2013 - 2024 (MW)

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Increasing industrialization coupled with growing focus towards the deployment of cogeneration technology will drive aeroderivative gas turbine market size over the forecast timeframe. In the past decade government and other private financial institutions have made significant investments towards the development of new Cogen facilities which in turn has substantially reduced electricity demand supply mismatch. In 2013, cogeneration accounted for 10% of the U.S. electricity generation.  Denmark, the Netherlands, and Finland are some of the other leading countries deploying enormous Cogen facilities.

Stringent emission norms towards greenhouse gas emissions will complement the global aeroderivative gas turbine market growth during the forecast timeline. In 2014, European Union has introduced 2003/87/EC directive with an aim to curb the emissions to 20% by 2020. Government of Australia has also introduced direct action plans towards the reduction of emission level by 26-28% by 2030 from 2005 level. Increasing exploration and production in O&G mainly across deep and ultradeep sea platforms will further augment business outlook.

Aeroderivative Gas Turbine Market, By Capacity

Aeroderivative gas turbine market share from ≤ 18 MW is set to witness growth over 8% by 2024. Growing small scale industrial applications coupled with rising demand across the mobility segment will positively influence the industry growth.

Aeroderivative gas turbine market size for > 18 MW was valued over USD 1 billion in 2015. Rising investments towards development of cogeneration facilities to provide reliable and affordable electricity supply will positively influence the business landscape.

Aeroderivative Gas Turbine Market, By Technology

Open cycle aeroderivative gas turbine market size is predicted to exceed USD 1 billion by 2024. High energy output from lower fuel consumption makes it preferable over other alternatives.

Combined cycle aeroderivative gas turbine industry share for 2015 was over 5 GW. Small start time due to effective design and high efficiency make it competitive. Rising focus towards the strengthening and expansion of defense and naval capabilities will augment the global industry share by 2024. In 2016, US navy has appointed GE for the supply of 20 LM2500 under its Austal USA LCS program.  Indian Navy had also awarded GE Marine for the supply of LM2500 to power the country’s P17A stealth frigate.

Aeroderivative Gas Turbine Market, By Application

Aeroderivative gas turbine market from power generation is set to exceed 9 GW by 2024. Shifting focus from conventional to unconventional clean energy technology will boost the industry growth. In 2016, France based Albioma had ventured with Brazil’s leading agro-industrial producer Vale do Paraná towards the development of 48 MW cogeneration facility for its sugar mill. The producers are also planning to export 30 MW to the national grid. Oil & gas industry is anticipated to witness a substantial growth of over 10% during the forecast timeframe. In 2017, GE introduced LM9000 series specific to the O&G industry.

Global Industrial aeroderivative gas turbine market share is set to witness strong growth by 2024. Rising demand for the reliable and sustainable technologies to meet the desired emission standards will embellish the industry growth.

Aeroderivative Gas Turbine Market, By Region

U.S. aeroderivative gas turbine market size for 2015 was valued over USD 250 million and expected to witness significant growth from 2016 to 2024. Increasing adoption of cogeneration technology coupled with rising shale gas exploration and production will positively influence the business growth.

Italy market is predicted to exceed 100 MW by 2024. Rising investments towards enhancement of marine business will propel the industry growth. In 2017, Rolls-Royce had been awarded to supply two MT30 series to 20,000-ton Landing Helicopter Dock vessel of Italy. It is considered as one of the world’s most powerful in service turbine with power density of 36 to 40 MW.

China aeroderivative gas turbine industry share is anticipated to witness gain of over 12% by 2024. Rising demand for the sustainable technologies on account of stringent emission norms will augment the industry size.

UAE market share for 2015 was over 1 GW. Increasing onshore and offshore drilling activities will embellish the industry growth. In 2016, Abu Dhabi Marine Operating Company (ADMA-OPCO) placed Trent 60 series package for its offshore oil fields.

Brazil aeroderivative gas turbine industry revenue is expected to witness growth of over 10% over the forecast timeline. Rising investments towards the development of small scale and mid-scale manufacturing industries will enhance the industry size.

Competitive Market Share

Key market participants include General Electric, Siemens AG, Mitsubishi Hitachi Power Systems Ltd, Rolls-Royce, ABB, Ansaldo Energia, Capstone Turbine, Harbin Electric International Company Limited, NPO Saturn, Kawasaki Heavy Industries, and Opra Turbines

Manufacturers are adopting numerous pricing strategies to increase their market penetration. Companies including Siemens and GE are making significant investments in the R&D activities to develop sustainable and cost efficient technologies to cater the growing market demand.

Aeroderivative Gas Turbine Industry Background

Aeroderivative gas turbines are mechanical combustion engines which produce desired energy output by mixing fuel with air. These turbines weigh lighter than that of their conventional counterpart and possess higher efficiency. The size of these turbines primarily lies between 0 to 65 MW. High sustainability coupled with growing demand across mobile applications will boost the product demand across the globe.

What Information does this report contain?

Historical data coverage: 2013 to 2015; Growth Projections: 2016 to 2024.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

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