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

Industry Trends

Gas Turbine Market Size is anticipated to witness over 8% CAGR through 2026. Rapid technological advancements coupled with growing focus toward distributed power generation technologies will drive the global industry expansion.
 

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.
 

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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.
 

Rising demand for distributed power generation systems will drive the gas turbine market share

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Gas turbine market from 50 kW - 500 kW capacity segment 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.
 

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.
 

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

Heavy duty gas turbine market is anticipated to witness a 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 scenario.
 

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

Compact size, high operational efficiency and low fuel consumption will complement the open cycle gas turbine deployment

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

Favorable government norms along with positive consumer outlook toward sustainable energy infrastructure will fuel the gas turbine market statistics. Effective utilization of generated energy across the power grid in line with growing energy optimization have positively influenced the product adoption. Increasing financial subsidies and incentive allocation toward the integration & expansion of CHP plants will also complement the industry landscape.
 

North America gas turbine industry is set to witness appreciable growth in the coming years

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North America gas turbine market 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 regional market outlook.
 

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