Industrial Gas Turbine Market Analysis

Industrial Gas Turbine Market Analysis

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The > 70 MW - 300 MW industrial gas turbine market will surpass USD 4.5 billion by 2032. Shifting consumer and industry awareness toward the deployment of clean power generation resources will propel the industry landscape. These turbines are majorly deployed across power generating stations and mechanical drives. Additionally, stringent government mandates to curb emissions favored by large-scale deployment of renewable energy systems are set to drive the business growth.

The aeroderivative gas turbine market size will witness growth rate of over 5% by 2032. Growing integration of captive-generating stations to suffice the electricity demand across industrial establishments will augment the product demand. Stringent regulatory mandates on limiting carbon emissions and energy optimization will augment the business landscape. Moreover, the restructuring of trade policies and investment flow, primarily across the developing nations, will reclaim the business headway.
 

The Europe industrial gas turbine market is set to exceed USD 2.5 billion by 2032. Stringent government regulations to reduce dependency on coal-based power generation is set to boost the business growth. Surging modernization and refurbishment of power infrastructures by investing in gas-fired distributed energy will support gas power generation, boosting the industry growth. The ongoing expansion of co-generating units to sustain energy & heat consumption across the industries will foster the business outlook.