Aeroderivative Gas Turbine Market size to exceed $3bn by 2026
Published Date: February 19, 2020 Authors: Ankit Gupta, Riya Gupta
Global Aeroderivative Gas Turbine Market size is expected to surpass USD 3 Billion by 2026, as reported in the latest study by Global Market Insights, Inc.
Rapid investments toward re-generative turbine facilities coupled with favorable government policies including incentives, subsidies and tax rebates will augment the business scenario. Increasing deployment of cutting-edge technology across gas-fired turbine sector in line with rising investments across aircraft fleet sector will further stimulate the product demand. For instance, in May 2018, GE unveiled cross-fleet gas turbine to enhance reliability and performance of OEM fleets to support gas power plant life.
Ongoing technological advancement across re-generative turbine sector will fuel the industry outlook
Ongoing technological enhancement across re-generative systems to cater to increasing power consumption across isolated, industrial & commercial energy grid networks will complement the > 70 MW segment of aeroderivative gas turbine market. In 2017, Mitsubishi Hitachi Power Systems launched its new J-Series air cooled gas turbine namely JAC gas turbine which exhibits an efficiency of 64%, reliability of 99.5% along with a combined cycle output of 575 MW. Cost efficient, high in performance and minimal GHG emission are the eminent factors strengthening the product landscape. Moreover, growing applicability of advanced regenerative turbines across various power plants will complement the industry dynamics.
Browse key industry insights spread across 536 pages with 818 market data tables & 37 figures & charts from the report, “Aeroderivative Gas Turbine Market Statistics 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 (Power Plants, Oil & Gas, Process Plants, Aviation, Marine), Industry Analysis Report, Regional Outlook Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
Growing inclination toward sustainable energy generation along with rising energy demand will complement industry landscape
Favorable government policies including tax rebates, incentive, financial schemes and subsidies across power generation establishments will complement the business scenario. Furthermore, growing industry inclination toward sustainable energy resources along with stringent regulatory norms across conventional fuels will drive the combined cycle segment of aeroderivative gas turbine market trends. For instance, in 2018, Siemens announced the launch of HL-class gas turbines for the gas markets across the Philippine electricity sector. Growing energy demand to cater to the ongoing industrialization across developing countries will further stimulate the business outlook.
Europe industry size is set to rise owing to increasing inclination toward adoption of co-generative systems
European aeroderivative gas turbine industry share is anticipated to exceed an annual installation of 2,300 MW by 2026. Rising focus toward CCGT process plant technology along with growing adoption of integrated co-generative systems across the industry will further complement the product demand. Increasing applicability of gas-powered turbine technology across oil and gas sector owing to lower power generation cost and high efficiency will further stimulate the industry demand. Moreover, power generation through combined and open cycle gas turbine across aviation and marine segment will grow on account of high reliability and efficiency, lower installation time and existing gas reserves.
Ongoing introduction of advanced technologies along with mergers & acquisitions are few prominent initiatives undertaken by major market players to withstand a competitive edge over other business participants. Eminent players operating across the global aeroderivative gas turbine market includes GE, Mitsubishi Hitachi, Wärtsilä, Solar Turbines, Cryostar, Zorya-Mashproekt, Siemens AG, Opra Turbines, Kawasaki, Vericor, Capstone, MAN Diesel, BHEL, Harbin, and NPO Saturn.
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