Asia Pacific Aeroderivative Gas Turbine Market - By Capacity (≤ 50 kW, > 50 to 500 kW, > 500 kW to 1 MW, > 1 to 30 MW, > 30 to 70 MW, > 70 MW), By Technology (Open Cycle, Combined Cycle), By Application & Forecast, 2023 – 2032

Aeroderivative Gas Turbine  Market Size

Asia Pacific Aeroderivative Gas Turbine Market size in 2022 was valued at USD 770.5 million and is estimated to surpass USD 1,393.4 million by 2032. An aeroderivative gas turbine is a type of gas turbine engine that is designed to combine the efficiency and performance characteristics of jet engines with the flexibility and compactness required for power generation and industrial applications. These turbines offer high power density, meaning they can produce a significant amount of power in a relatively compact size.
 

Increasing environmental apprehensions, coupled with strict governmental mandates aimed at emissions reduction, have prompted industries to adopt proactive energy conservation strategies. These engines have gained paramount importance within power generation facilities. This transformation has been driven by the ongoing reconfiguration of major power markets, accompanied by swift technological advancements spanning combustion, aerodynamics, cooling, and materials engineering.
 

COVID–19 Impact

The aeroderivative gas turbine market underwent a notable influence owing to the COVID- 19 pandemic. The outbreak resulted in disruptions within the supply chain, project timeline setbacks, and reduced investments across multiple sectors like aviation and power. Travel constraints and economic ambiguities caused a temporary deceleration in the market's pace. Nevertheless, with the resurgence of economies and the resurgence of energy demands, the aeroderivative turbine market is anticipated to reinvigorate. This resurgence will be propelled by the demand for power generation solutions that are both efficient and environmentally sustainable.
 

Asia Pacific Aeroderivative Gas Turbine Market Trends

A significant change in approach towards incorporating renewable energy sources, combined with a meticulous focus on enhancing energy efficiency, will drive the demand of gas turbines. The increasing demand for energy, along with substantial investments in natural gas extraction and trading, will create a favorable economic landscape. Furthermore, the implementation of robust energy utilization policies has reshaped both regulatory frameworks and consumer preferences, ultimately leading to the expansion of combined cycle power plants. This trend, in turn, is set to amplify the growth potential of the industry.
 

Asia Pacific Aeroderivative Gas Turbine Market Analysis

Based on technology, the Asia Pacific aeroderivative gas turbine market is segmented as open cycle and combined cycle. The open cycle gas turbine market size will witness growth rate of 6.1% by 2032. The demand for the product is set to rise owing to expanding implementation of combined heat and power plants, as well as the increasing need for heat. Additionally, the rapid expansion of the aviation and maritime sectors, combined with growth in energy investments, will contribute to a more positive industry outlook. The industry presents a stable and consistent growth potential, driven by its environmentally advantageous position and the favorable alignment of consumer and regulatory trends, stimulating the business potential.
 

Based on capacity, the Asia Pacific aeroderivative gas turbine market is segmented as ≤ 50 kW, > 50 to 500 kW, > 500 kW to 1 MW, > 1 to 30 MW, > 30 to 70 MW and > 70 MW. The > 1 to 30 MW aeroderivative gas turbine industry holds a market share of over 20% in 2022. The manufacturers have directed their attention toward developing gas turbines that are not only cost-effective but also highly efficient. This approach aims to empower installers to achieve substantial returns on investment and accrue significant long-term savings. Consequently, the advantageous proximity to both consumers and industries, coupled with supportive regulatory reforms, will enhance the business outlook.  
 

Based on application, the Asia Pacific aeroderivative gas turbine market is segmented as power plants, oil & gas, process plants, aviation, marine and others. Oil & gas application industry is projected to surpass USD 170 million by 2032. Ongoing efforts to achieve efficiency and maintain a consistent weight in aircraft will drive the product deployment. The industry has experienced significant growth due to increased migration, tourism, and improved living standards primarily across the developing nations.
 

The China gas turbine market was valued at USD 371.9 million in 2022. The market for gas turbines is poised to experience expansion due to the operational versatility provided by gas-fired facilities, contrasting with coal-fired plants. The surging inclination toward enhancing infrastructure through investments in distributed energy based on gas-fired technology will contribute to the growth of the gas power generation sector. which, in turn, will propel the demand for gas turbines.
 

Asia Pacific Aeroderivative Gas Turbine Market Share

Major participants across the Asia Pacific aeroderivative gas turbine market include:

• General Electric
• Siemens
•  Mitsubishi Heavy Industries Ltd
•  Shanghai Electric Gas Turbine Co.
• Wärtsilä
•  Kawasaki Heavy Industries
•  Bharat Heavy Electricals Limited
• VERICOR
• MAN Energy Solutions
• Harbin Electric Corporation
• Opra Turbines
• Capstone Green Energy Corporation,
• Baker Hughes Company
• Nanjing Turbine & Electric Machinery (Group) Co
• Ansaldo Energia
• Rolls-Royce plc
• SAFRAN
• Collins Aerospace
• Pratt & Whitney
• Doosan
   

Asia Pacific Aeroderivative Gas Turbine Industry News

• In March 2022, General Electric was awarded a contract to deliver 2 GW of electricity in Guangdong, China. Harbin Electric and GE Gas Power, a subsidiary of General Electric, announced to deliver 3 GE 9HA.01 aeroderivative GT to China-based Shenzhen Energy Group for its power generation units at the Guangming combined cycle power plant. The first phase will be started by the end of 2023. In addition, Harbin Electric’s joint venture with General Electric will provide generators and steam turbines for this project.
   
• The Central Electricity Regulatory Commission (CERC) holds the primary responsibility for overseeing India's power industry. Established in July 1998 through the Electricity Regulatory Commissions Act (PERC), its main role involves shaping policies related to subsidies, rationalizing electricity tariffs, and promoting environmentally progressive approaches in the realm of electricity tariff regulation. CERC's primary focus lies in regulating tariff policies linked with the nation's power generation entities.
   

The Asia Pacific aeroderivative gas turbine market research report includes in-depth coverage of the industry with estimates & forecast in terms of “MW” & “USD” from 2019 to 2032, for the following segments:

Click here to Buy Section of this Report

By Capacity, 2019 – 2032 (MW & USD)

• ≤ 50 kW
• > 50 to 500 kW
• > 500 kW to 1 MW
• > 1 to 30 MW
• > 30 to 70 MW
• > 70 MW

By Technology, 2019 – 2032 (MW & USD)

• Open Cycle
• Combined Cycle

By Application, 2019 – 2032 (MW & USD)

• Power Plants
• Oil & Gas
• Process Plants
• Aviation
• Marine
• Others

The above information has been provided for the following countries:

• China
• Australia
• Japan
• South Korea
• Indonesia
• Thailand
• Malaysia
• Bangladesh