Gas Turbine Market Size By Capacity (< 50 KW, 50 KW to 500 KW, > 500 KW to 1 MW, > 1 MW to 30 MW, > 30 MW to 70 MW, > 70 MW to 200 MW, > 200 MW), By Product (Aero-Derivative, Heavy Duty), By Technology (Open Cycle, Combined Cycle), By Application (Power Plants, Oil & Gas, Process plants, Aviation, Marine), Industry Analysis Report, Regional Analysis, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Mar 2020  |  Report ID: GMI1181  |  Authors: Ankit Gupta, Riya Gupta

Report Format: PDF   |   Pages: 620   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Gas Turbine Market Size exceeded USD 6 billion in 2019 and is anticipated to grow at a rate of over 8% through 2026. Rapid technological advancements coupled with growing focus toward distributed power generation technologies will drive the global industry growth.
 

Gas Turbine Market

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Rising concerns toward GHG emission in line with stringent government norms pertaining to adoption of gas fired turbines over traditional power generating units will further complement the industry landscape. Moreover, increasing energy demand across developing nations along with ongoing adoption of renewables when compared to conventional fuels will strengthen the product integration.
 

Gas turbine is a mechanical device which harnesses energy from working fluid or gas by utilizing its kinetic energy or potential energy. These turbines run on brayton cycle which basically consists of a compressor, heater, cooler, and turbine. The working fluid undergoes thermodynamic process where the system converts mechanical/heat energy into rotating energy which in turn produces the electricity as output.
 

Gas Turbine Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: 6.9 Billion (USD)
Historical Data for: 2015 to 2019 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 8.2% 2026 Value Projection: 43.7 (MW)
Pages: 620 Tables, Charts & Figures: 1082
Geographies covered (45): U.S., Canada, Mexico, UK, France, Germany, Russia, Italy, Finland, Netherlands, Denmark, Greece, Ukraine Sweden, Azerbaijan, Kazakhstan, Belarus, China, India, Japan, South Korea, Australia, Thailand, Indonesia, Malaysia, UAE, Saudi Arabia, Qatar, Oman, Kuwait, Egypt, Bahrain, Iraq, Jordan, Lebanon, South Africa, Nigeria, Algeria, Kenya, Ghana, Brazil, Argentina, Peru, Chile
Segments covered: Capacity, Product, Technology, Application
Companies covered (15): General Electric, Siemens AG, Mitsubishi Hitachi Power Systems, Ltd, Wärtsilä, Kawasaki Heavy Industries Ltd., Opra Turbines B.V., Solar Turbines Incorporated, Harbin Turbine Company Limited, Bharat Heavy Electricals Limited, Vericor Power Systems, MAN Energy Solutions, Capstone Turbine Corporation, Cryostar, UEC Saturn, Zorya-Mashproekt
Growth Drivers:
  • North America & Europe
    • Inclination toward energy optimization
    • Shale gas revolution
    • Positive clean energy outlook
  • Asia Pacific
    • Renewable energy integration
  • Middle East, Africa & CIS
    • Restructuring of electrical infrastructure
    • Large scale renewable integration prospects
  • Latin America
    • Positive outlook towards gas-based electricity generation
Pitfalls & Challenges:
  • Advancing auxiliary clean turbine technologies
  • Cost competitiveness

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Rising demand for distributed power generation systems will drive the gas turbine industry outlook

Gas Turbine Market By Capacity

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50 kW - 500 kW capacity segment of gas turbine market is projected to witness an annual deployment of over 2 GW by 2026. Ongoing advancements owing to evolving combustor technology, operating range and durability in line with expansion of effective re-generative systems to withstand high heat requirements will accelerate the product penetration. Moreover, growing inclination toward combined cycle power generation plants owing to high efficiency, reliability and operational performance will propel the industry outlook.
 

Light weight, improved efficiency, potential to use flue gas, lesser number of mechanical links, and lower electricity generated cost are the key parameters which will drive the market trends. In addition, growing adoption of on-site energy generation systems across static power applications will boost the product penetration. Rising energy demand across refineries, petrochemical industries and process plants will further instigate the adoption of regenerative turbine units.
 

Lower turbine dimensions and cost along with high capacity operation will complement the product deployment

Heavy duty gas turbine market is anticipated to witness significant growth on account of economic cost structure, high capacity operations and lower pressure ratios to yield maximum specific power. Growing product demand across utility aided and heat recovery power generating plants owing to lower turbine dimensions & cost along with maximum cycle efficiency will further drive the business landscape.
 

Ongoing technological developments on account of efficiency, reliability and flexibility enhancements across both recuperated & un-recuperated systems will fuel the industry dynamics.
 

Aero-derivative gas turbine market is projected to witness an upsurge on account of higher turbo-machinery efficiency, enhanced turbine inlet temperature and better cooling blades. In addition, ongoing investments toward the development of sustainable energy generation plants along with growing regenerative turbine integration across district heating facilities will complement the industry scenario.
 

Moreover, growing gas turbine applicability across utility generation, grid stability, marine propulsion, district heating, and mobile power will propel the product demand. In addition, light weight, low fuel consumption, operational versatility, higher rotation speed and environmental proximity are key parameters favoring the product adoption.
 

Compact size, high operational efficiency and low fuel consumption will complement the product deployment

Comparatively compact size and operational versatility along with quick start & lower warm up time are a few prominent factors complementing the open cycle combustion turbine market statistics. Onshore and offshore industries find a varied applicability of turbines across mechanical and direct drive.
 

For instance, GE launched ‘cross-fleet gas turbine’ in 2018 which boost the reliability & performance of OEM fleets. Growing installation across aircraft industry on account of its high efficiency & light weight as well as increasing electricity demand across offshore establishments will positively sway the product demand.
 

Favorable government regulations toward expansion and integration of CHP establishments will further thrust the gas turbine industry

Favorable government norms along with positive consumer outlook toward sustainable energy infrastructure will fuel the gas turbine market share. Effective utilization of generated energy across the power grid in line with growing energy optimization have positively influenced the product adoption.
 

For instance, in 2018 the Department of Energy (DOE) announced installment of 81 GW of combined heat and power plants exceeding 3,500 sites across the U.S. In addition, increasing financial subsidies and incentive allocation toward the integration & expansion of CHP plants will also complement the industry landscape.
 

North America region is set to witness appreciable growth across the gas turbine market

North America Gas Turbine Market By Capacity

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North America gas turbine industry size is anticipated to exceed an annual installation of 10 GW by 2026. Easy accessibility of raw material and continuous integration of technological advanced turbines are major parameters accelerating the product penetration. Rising focus toward CCGT power technology coupled with growing applicability of gas-powered systems across extraction & drilling techniques will further propel the product demand.
 

For instance, the U.S. government announced an improved plan ‘Self-Generation Incentive Program (SGIP)’ in 2019 to increase the adoption of sustainable fuels by 1/2 in fuel mixture blend.
 

Demand of improved gas turbine establishments will act as the focal point for the market players

Ongoing mergers and acquisition along with growing R&D investments toward product durability, efficiency and versatility by major manufacturing participants will complement the industry scenario. Eminent players operational across the gas turbine market includes Wartsila, Siemens AG, Man Diesel & Turbo, General Electric, Mitsubishi Hitachi Power Systems, NPO Saturn, Kawasaki Heavy Industries, Harbin Electric International Company, BHEL, Solar Turbines, Capstone Turbine, Vericor Power Systems, Ansaldo Energia, Opra Turbines, Zorya-Mashproekt and Cryostar.
 

Gas Turbine market research report includes in-depth coverage of the industry with estimates & forecast in terms of “MW” & “USD” from 2015 to 2026, for the following segments:
 

By Capacity

  • < 50 kW
  • 50 kW to 500 kW
  • > 500 kW to 1 MW
  • > 1 MW to 30 MW
  • >30 MW to 70 MW
  • > 70 MW to 200 MW
  • > 200 MW

By Product

  • Aero-Derivative
  • Heavy Duty

By Technology

  • Open Cycle
  • Combined Cycle

By Application

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

The above information has been provided for the following regions and country:

  • North America
    • U.S
    • Canada
    • Mexico
  • Europe
    • U.K
    • France
    • Germany
    • Russia
    • Italy
    • Finland
    • Netherlands
    • Greece
    • Denmark
    • Ukraine
    • Sweden
  • CIS
    • Azerbaijan
    • Kazakhstan
    • Belarus
  • Asia Pacific
    • China
    • India
    • Australia
    • Japan
    • South Korea
    • Indonesia
    • Thailand
    • Malaysia
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Qatar
    • Kuwait
    • Oman
    • Egypt
    • Turkey
    • Bahrain
    • Iraq
    • Jordan
    • Lebanon
    • South Africa
    • Nigeria
    • Algeria
    • Kenya
    • Ghana
  • Latin America
    • Brazil
    • Argentina
    • Peru
    • Chile
       

Frequently Asked Questions (FAQ) :

North America gas turbine market's annual installation is set to surpass 10 GW by 2026, as estimated by GMI.
Ongoing inclination toward energy optimization along with growing integration of renewables across the power grid will be key driving factors for the growth of global market.
Major challenges likely to impact the global market size include advancing auxiliary clean turbine technologies along with cost competitiveness.

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Premium Report Details

  • Published Date: Mar 2020
  • Pages: 620
  • Tables: 1044
  • Charts / Figures: 38
  • Companies covered: 15
  • Countries covered: 45

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