Global Gas Turbine Market Size study & Forecast, by Technology (Open cycle, Combined cycle), by Capacity (<=200 MW, >200 MW), by End use (Power & Utility, Industry) and Regional Analysis, 2023-2030

Description

List of Tables

Global Gas Turbine Market is valued at approximately USD 9.80 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 4.0% during the forecast period 2023-2030. Gas Turbine is a particular kind of turbine that spins on compressed gas to produce electricity or gives an aircraft or jet the required kinetic energy using Braton method. Fuels including natural gas, kerosene, propane, or jet fuel undergo combustion to generate the compressed gas utilized in contemporary gas turbines. This process of fuel combustion engenders heat, facilitating the expansion of air and inducing its passage through a turbine, thereby generating valuable energy. This market is also supported by the increasing population all over the globe which demands the need of huge volume of electricity, also backed up by the innovations and advancements in the technology where almost each and every object in use by humans are turning their reliability of existence towards electricity including vehicles, gadgets etc.

According to projections by the United Nations (UN), the global population is anticipated to increase from 7.8 billion in 2020 to approximately 8.5 billion by 2030 and 9.7 billion by 2050. Concurrently, the phenomenon of urbanization, characterized by the ongoing influx of individuals into urban areas, is contributing to the expansion of the world's urban population. Notably, this process is currently augmenting the global urban population by a magnitude equivalent to the addition of a city comparable in size to Shanghai every four months which also anticipates a huge demand in the electricity needs,., propelling the gas turbine sector.. Another important component is Gas turbines use natural gas for energy conversion which generate the same amount of energy as burning coal or petroleum products, fewer air pollutants and carbon dioxide (CO2) are released into the atmosphere which also falls in place as an opportunity in the demand of clean energy sources supporting the health of the globe. As a contradiction renewable energy sources such as solar and wind have become more and more cost-competitive with conventional energy sources that rely on fossil fuels. This is a threat in the sustainability of Gas turbines with high cost to be in the electricity generation industry

The key regions considered for the Global Gas Turbine Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 owing to the region's rapidly increasing middle-class population and rapid urbanization which raises its electricity needs. Asia Pacific is also expected to grow significantly over the forecast period considering factors such as the obligated need for electricity through clean energy sources, also helped by growing governmental backing for energy-generating technology that aims to lower carbon dioxide emissions.

Major market player included in this report are:

Ansaldo Energia
Bharat Heavy Electricals Ltd.
Centrax Gas Turbines
General Electric
Kawasaki Heavy Industries, Ltd.
Harbin electric corporation
Mitsubishi Power, Ltd.
OPRA Turbines
Siemens Energy
Solar Turbines Inc.

Recent Developments in the Market:

In January 2024, Ansaldo Energia installed their GT36 gas turbine engine at the combined cycle power plant in China for the first time in history. This effective commercial operation of Ansaldo Energia's GT36 H-Class is a culmination of a protracted and productive journey of knowledge and presence in China.
In July 2023, Bharat Heavy Electricals Limited (BHEL) and General Electric Technology GmbH Switzerland have inked a Technical Assistance and License Agreement for Gas Turbines. In India, BHEL and GE together dominate the Gas Turbine Market. The Agreement would also help India's "Make in India" and "Aatmanirbhar Bharat" efforts, as BHEL uses its Hyderabad plant to manufacture cutting-edge gas turbines and related spare parts domestically.
In December 2023, a significant milestone was achieved at the Enersok Syrdarya II 1600MW Combined Cycle Power Plant project, undertaken by Harbin Electric Corporation International Company where Concrete was successfully poured into the project's first pile foundation, fulfilling all technical specifications. This marks the movement in the Expansion of Harbin Electric Corporation as a major market player.

Global Gas Turbine Market Report Scope:

Historical Data - 2020 - 2021
Base Year for Estimation - 2022
Forecast period - 2023-2030
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered - Technology, Capacity, End use, Region.
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Customization Scope - Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Technology:

Open cycle
Combined cycle

By Capacity:

<=200 MW
>200 MW

By End use:

Power & Utility
Industry

By Region:

North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1.Executive Summary

1.1.Market Snapshot
1.2.Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1.Gas Turbine Market, by Region, 2020-2030 (USD Billion)
- 1.2.2.Gas Turbine Market, by Technology, 2020-2030 (USD Billion)
- 1.2.3.Gas Turbine Market, by Capacity, 2020-2030 (USD Billion)
- 1.2.4.Gas Turbine Market, by End use, 2020-2030 (USD Billion)
1.3.Key Trends
1.4.Estimation Methodology
1.5.Research Assumption

Chapter 2.Global Gas Turbine Market Definition and Scope

2.1.Objective of the Study
2.2.Market Definition & Scope
- 2.2.1.Industry Evolution
- 2.2.2.Scope of the Study
2.3.Years Considered for the Study
2.4.Currency Conversion Rates

Chapter 3.Global Gas Turbine Market Dynamics

3.1.Gas Turbine Market Impact Analysis (2020-2030)
- 3.1.1.Market Drivers
  - 3.1.1.1.Usage of natural gas with non-hazardous emissions contributes to eco-friendly environment
  - 3.1.1.2.Growing population increases the need for electricity
- 3.1.2.Market Challenges
  - 3.1.2.1.High Cost of Gas Turbine
  - 3.1.2.2.Easy adoption of Renewable energy sources
- 3.1.3.Market Opportunities
  - 3.1.3.1.Obligated need to use clean energy sources
  - 3.1.3.2.Government's investment plans

Chapter 4.Global Gas Turbine Market Industry Analysis

4.1.Porter's 5 Force Model
- 4.1.1.Bargaining Power of Suppliers
- 4.1.2.Bargaining Power of Buyers
- 4.1.3.Threat of New Entrants
- 4.1.4.Threat of Substitutes
- 4.1.5.Competitive Rivalry
4.2.Porter's 5 Force Impact Analysis
4.3.PEST Analysis
- 4.3.1.Political
- 4.3.2.Economical
- 4.3.3.Social
- 4.3.4.Technological
- 4.3.5.Environmental
- 4.3.6.Legal
4.4.Top investment opportunity
4.5.Top winning strategies
4.6.COVID-19 Impact Analysis
4.7.Disruptive Trends
4.8.Industry Expert Perspective
4.9.Analyst Recommendation & Conclusion

Chapter 5.Global Gas Turbine Market, by Technology

5.1.Market Snapshot
5.2.Global Gas Turbine Market by Technology, Performance - Potential Analysis
5.3.Global Gas Turbine Market Estimates & Forecasts by Technology 2020-2030 (USD Billion)
5.4.Gas Turbine Market, Sub Segment Analysis
- 5.4.1. Open cycle
- 5.4.2. Combined cycle

Chapter 6.Global Gas Turbine Market, by Capacity

6.1.Market Snapshot
6.2.Global Gas Turbine Market by Capacity, Performance - Potential Analysis
6.3.Global Gas Turbine Market Estimates & Forecasts by Capacity 2020-2030 (USD Billion)
6.4.Gas Turbine Market, Sub Segment Analysis
- 6.4.1.<=200 MW
- 6.4.2.>200 MW

Chapter 7.Global Gas Turbine Market, by End use

7.1.Market Snapshot
7.2.Global Gas Turbine Market by End use, Performance - Potential Analysis
7.3.Global Gas Turbine Market Estimates & Forecasts by End use 2020-2030 (USD Billion)
7.4.Gas Turbine Market, Sub Segment Analysis
- 7.4.1. Power & Utility
- 7.4.2. Industry

Chapter 8.Global Gas Turbine Market, Regional Analysis

8.1.Top Leading Countries
8.2.Top Emerging Countries
8.3.Gas Turbine Market, Regional Market Snapshot
8.4.North America Gas Turbine Market
- 8.4.1.U.S. Gas Turbine Market
  - 8.4.1.1.Technology breakdown estimates & forecasts, 2020-2030
  - 8.4.1.2.Capacity breakdown estimates & forecasts, 2020-2030
  - 8.4.1.3.End use breakdown estimates & forecasts, 2020-2030
- 8.4.2.Canada Gas Turbine Market
8.5.Europe Gas Turbine Market Snapshot
- 8.5.1.U.K. Gas Turbine Market
- 8.5.2.Germany Gas Turbine Market
- 8.5.3.France Gas Turbine Market
- 8.5.4.Spain Gas Turbine Market
- 8.5.5.Italy Gas Turbine Market
- 8.5.6.Rest of Europe Gas Turbine Market
8.6.Asia-Pacific Gas Turbine Market Snapshot
- 8.6.1.China Gas Turbine Market
- 8.6.2.India Gas Turbine Market
- 8.6.3.Japan Gas Turbine Market
- 8.6.4.Australia Gas Turbine Market
- 8.6.5.South Korea Gas Turbine Market
- 8.6.6.Rest of Asia Pacific Gas Turbine Market
8.7.Latin America Gas Turbine Market Snapshot
- 8.7.1.Brazil Gas Turbine Market
- 8.7.2.Mexico Gas Turbine Market
8.8.Middle East & Africa Gas Turbine Market
- 8.8.1.Saudi Arabia Gas Turbine Market
- 8.8.2.South Africa Gas Turbine Market
- 8.8.3.Rest of Middle East & Africa Gas Turbine Market

Chapter 9.Competitive Intelligence

9.1.Key Company SWOT Analysis
9.2.Top Market Strategies
9.3.Company Profiles
- 9.3.1. Ansaldo Energia
  - 9.3.1.1.Key Information
  - 9.3.1.2.Overview
  - 9.3.1.3.Financial (Subject to Data Availability)
  - 9.3.1.4.Product Summary
  - 9.3.1.5.Recent Developments
- 9.3.2. Bharat Heavy Electricals Ltd.
- 9.3.3.Centrax Gas Turbines
- 9.3.4.General Electric
- 9.3.5.Kawasaki Heavy Industries, Ltd.
- 9.3.6.Harbin electric corporation
- 9.3.7.Mitsubishi Power, Ltd.
- 9.3.8.OPRA Turbines
- 9.3.9.Siemens Energy
- 9.3.10.Solar Turbines Inc.

Chapter 10.Research Process

10.1.Research Process
- 10.1.1.Data Mining
- 10.1.2.Analysis
- 10.1.3.Market Estimation
- 10.1.4.Validation
- 10.1.5.Publishing
10.2.Research Attributes
10.3.Research Assumption

LIST OF TABLES

TABLE 1.Global Gas Turbine Market, report scope
TABLE 2.Global Gas Turbine Market estimates & forecasts by Region 2020-2030 (USD Billion)
TABLE 3.Global Gas Turbine Market estimates & forecasts by Technology 2020-2030 (USD Billion)
TABLE 4.Global Gas Turbine Market estimates & forecasts by Capacity 2020-2030 (USD Billion)
TABLE 5.Global Gas Turbine Market estimates & forecasts by End use 2020-2030 (USD Billion)
TABLE 6.Global Gas Turbine Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 7.Global Gas Turbine Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 8.Global Gas Turbine Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 9.Global Gas Turbine Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 10.Global Gas Turbine Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 11.Global Gas Turbine Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 12.Global Gas Turbine Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 13.Global Gas Turbine Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 14.Global Gas Turbine Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 15.Global Gas Turbine Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 16.U.S. Gas Turbine Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 17.U.S. Gas Turbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 18.U.S. Gas Turbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 19.Canada Gas Turbine Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 20.Canada Gas Turbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 21.Canada Gas Turbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 22.UK Gas Turbine Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 23.UK Gas Turbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 24.UK Gas Turbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 25.Germany Gas Turbine Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 26.Germany Gas Turbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 27.Germany Gas Turbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 28.France Gas Turbine Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 29.France Gas Turbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 30.France Gas Turbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 31.Italy Gas Turbine Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 32.Italy Gas Turbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 33.Italy Gas Turbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 34.Spain Gas Turbine Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 35.Spain Gas Turbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 36.Spain Gas Turbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 37.RoE Gas Turbine Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 38.RoE Gas Turbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 39.RoE Gas Turbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 40.China Gas Turbine Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 41.China Gas Turbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 42.China Gas Turbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 43.India Gas Turbine Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 44.India Gas Turbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 45.India Gas Turbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 46.Japan Gas Turbine Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 47.Japan Gas Turbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 48.Japan Gas Turbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 49.South Korea Gas Turbine Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 50.South Korea Gas Turbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 51.South Korea Gas Turbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 52.Australia Gas Turbine Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 53.Australia Gas Turbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 54.Australia Gas Turbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 55.RoAPAC Gas Turbine Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 56.RoAPAC Gas Turbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 57.RoAPAC Gas Turbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 58.Brazil Gas Turbine Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 59.Brazil Gas Turbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 60.Brazil Gas Turbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 61.Mexico Gas Turbine Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 62.Mexico Gas Turbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 63.Mexico Gas Turbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 64.RoLA Gas Turbine Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 65.RoLA Gas Turbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 66.RoLA Gas Turbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 67.Saudi Arabia Gas Turbine Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 68.South Africa Gas Turbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 69.RoMEA Gas Turbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 70.List of secondary sources, used in the study of global Gas Turbine Market
TABLE 71.List of primary sources, used in the study of global Gas Turbine Market
TABLE 72.Years considered for the study
TABLE 73.Exchange rates considered

List of tables and figures are dummy in nature, final lists may vary in the final deliverable

LIST OF FIGURES

FIG 1.Global Gas Turbine Market, research methodology
FIG 2.Global Gas Turbine Market, Market estimation techniques
FIG 3.Global Market size estimates & forecast methods
FIG 4.Global Gas Turbine Market, key trends 2022
FIG 5.Global Gas Turbine Market, growth prospects 2023-2030
FIG 6.Global Gas Turbine Market, porters 5 force model
FIG 7.Global Gas Turbine Market, pest analysis
FIG 8.Global Gas Turbine Market, value chain analysis
FIG 9.Global Gas Turbine Market by segment, 2020 & 2030 (USD Billion)
FIG 10.Global Gas Turbine Market by segment, 2020 & 2030 (USD Billion)
FIG 11.Global Gas Turbine Market by segment, 2020 & 2030 (USD Billion)
FIG 12.Global Gas Turbine Market by segment, 2020 & 2030 (USD Billion)
FIG 13.Global Gas Turbine Market by segment, 2020 & 2030 (USD Billion)
FIG 14.Global Gas Turbine Market, regional snapshot 2020 & 2030
FIG 15.North America Gas Turbine Market 2020 & 2030 (USD Billion)
FIG 16.Europe Gas Turbine Market 2020 & 2030 (USD Billion)
FIG 17.Asia pacific Gas Turbine Market 2020 & 2030 (USD Billion)
FIG 18.Latin America Gas Turbine Market 2020 & 2030 (USD Billion)
FIG 19.Middle East & Africa Gas Turbine Market 2020 & 2030 (USD Billion)