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Asia Pacific Aeroderivative Gas Turbine Market Trends

Report ID: GMI6627
Published Date: Sep 2023
Report Format: PDF

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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.

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

Asia Pacific aeroderivative gas turbine industry size reached USD 770.5 million in 2022 and may surpass USD 1,393.4 million by 2032 due to rising requirement across power generation and industrial applications.

APAC aeroderivative gas turbine industry share from the open cycle technology segment may witness 6.1% growth rate from 2023-2032 impelled by the rapid expansion of the aviation and maritime sectors along with the significant growth in energy investments.

China aeroderivative gas turbine industry size was USD 371.9 million in 2022 and will foresee significant expansion through 2032 owing to the surging inclination toward enhancing infrastructure through investments.

Some of the key APAC aeroderivative gas turbine market players are General Electric, Siemens, Mitsubishi Heavy Industries Ltd., Shanghai Electric Gas Turbine Co., Ltd., Wärtsilä, Kawasaki Heavy Industries, Ltd., Bharat Heavy Electricals Limited, VERICOR, and MAN Energy Solutions.