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Aeroderivative Gas Turbine Market Size

Report ID: GMI1184
Published Date: Jun 2023
Report Format: PDF

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Aeroderivative Gas Turbine Market Size

Aeroderivative Gas Turbine Market was valued at USD 3.9 billion in 2023 and is estimated to record over 6.2% CAGR from 2024 to 2032. Advancements in expansion and manufacturing practices and growing emphasis on sustainable energy development will have a positive impact on the market statistics.

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The gas turbine market will witness significant growth owing to the implementation of favorable policies by regulatory bodies including subsidies, tax rebates, and incentives. Paradigm shift toward integrating renewable energy sources and a strong emphasis on energy efficiency will drive the widespread adoption of efficient these units. This trend is further supported by the increasing global energy demand and substantial investments in the extraction and trade of natural gas, creating a favorable business environment.

Aeroderivative Gas Turbine Market Report Attributes
Report Attribute	Details
Base Year:	2023
Aeroderivative Gas Turbine Market Size in 2023:	USD 3.9 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	6.2%
2032 Value Projection:	USD 6.8 Billion
Historical Data for:	2019 to 2023
No. of Pages:	525
Tables, Charts & Figures:	1,219
Segments covered:	Capacity, Technology, Application & Region
Growth Drivers:	North America & Europe Inclination toward energy optimization Ongoing shale gas revolution Positive clean energy outlook Asia Pacific Renewable energy integration Growing focus toward decentralized generation technologies Middle East & Africa Restructuring of electrical infrastructure Large scale renewable integration prospects Latin America Positive outlook toward gas-based electricity generation
Pitfalls & Challenges:	Advancing auxiliary clean turbine technologies Cost competitiveness

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Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market size of aeroderivative gas turbine exceeded USD 3.9 billion in 2023 and will surpass USD 6.8 billion by 2032, owing to the implementation of favorable policies by regulatory bodies, paradigm shift toward integrating renewable energy sources, and a strong emphasis on energy efficiency.

The aviation application was worth over USD 600 million in 2023, backed by ongoing efforts to achieve efficiency and maintain a consistent weight in aircraft, along with increased migration, tourism, and improved living standards primarily across the developing nations.

Europe market for aeroderivative gas turbine will surpass USD 1.5 billion by 2032, attributed to favorable government initiatives aimed at increasing power capacity, driven by population growth and industrialization.

General Electric, Ansaldo Energia, Nanjing Turbine & Electric Machinery, Baker Hughes Company, Harbin Electric Corporation, Mitsubishi Heavy Industries, Siemens, Rolls-Royce plc, SAFRAN, Collins Aerospace and Pratt & Whitney.