Gas Turbine Market Size - By Product (Aero-Derivative, Heavy Duty), By Technology (Open Cycle, Combined Cycle), By Application (Power Plants, Oil & Gas, Process Plants, Aviation, Marine), Capacity & Forecast, 2024

Description

Global Gas Turbine Market will register at a 5.5% CAGR between 2024 and 2034, attributed to ongoing advances in gas turbine technology and the introduction of new turbine models. As technological innovation enhances efficiency, reduces emissions, and expands applications, the demand for gas turbines surges. The market is further stimulated by the launch of cutting-edge gas turbine solutions, meeting the evolving needs of industries for reliable, sustainable, and powerful energy sources, thus propelling the expansion of the market.

For instance, in 2023, PROENERGY, a worldwide provider of peaking-power solutions, introduced a new 48-MW aeroderivative gas turbine engineered for rapid response to fluctuations in power supply and demand. This launch enhances the gas turbine industry by providing a swift and efficient solution for power supply-demand gaps.

The gas turbine industry is fragmented based on product, application, and region.

The heavy duty gas turbine segment will establish a significant market foothold by 2034, fueled by the segment's pivotal role in meeting the escalating demand for robust and efficient power generation solutions, particularly in industries requiring substantial energy capacity. With a focus on performance and reliability, the heavy-duty gas turbine segment will play a crucial role in shaping the market landscape and meeting the evolving needs of diverse industrial applications.

The aviation segment will capture a notable gas turbine market share by 2034, owing to the continuous growth in air travel, rising demand for fuel-efficient aircraft, and advancements in gas turbine technology. As the aviation industry emphasizes sustainable and high-performance propulsion systems, gas turbines play a pivotal role. With ongoing innovation and increasing aircraft fleet expansions, the aviation segment will stand as a primary driver, shaping the market outlook and solidifying its dominance in gas turbine applications.

Asia Pacific gas turbine industry will grow a substantial CAGR during 2024 and 2034, driven by the region's burgeoning industrialization, rapid economic growth, and increasing demand for electricity. Government initiatives supporting infrastructure development and a focus on cleaner energy solutions will further drive the market's growth. With a surge in power generation projects and technological advancements, APAC will emerge as a key contributor, shaping the trajectory of the gas turbine industry in the global energy landscape.

Product Code: 1181

Chapter 1 Methodology & Scope

1.1 Market scope and definitions
1.2 Market estimates & forecast parameters
- 1.2.1 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
  - 1.4.2.1 Paid sources
  - 1.4.2.2 Unpaid sources

Chapter 2 Executive Summary

2.1 Gas turbine industry 360 degree synopsis, 2019 - 2034
- 2.1.1 Business trends
- 2.1.2 Capacity trends
- 2.1.3 Product trends
- 2.1.4 Technology trends
- 2.1.5 Application trends
- 2.1.6 Regional trends

Chapter 3 Gas Turbine Industry Insights

3.1 Industry ecosystem analysis
- 3.1.1 Vendor Matrix
3.2 Regulatory landscape
3.3 COVID- 19 impact on the industry outlook
3.4 Industry impact forces
- 3.4.1 Growth drivers
- 3.4.2 Industry pitfalls & challenges
3.5 Growth potential analysis
3.6 Porter's Analysis
- 3.6.1 Bargaining power of suppliers
- 3.6.2 Bargaining power of buyers
- 3.6.3 Threat of new entrants
- 3.6.4 Threat of substitutes
3.7 PESTEL Analysis

Chapter 4 Competitive Landscape, 2023

4.1 Strategic outlook
4.2 Innovation & sustainability landscape

Chapter 5 Gas Turbine Market, By Capacity (MW & USD)

5.1 Key trends, by capacity
5.2 = 50 kW
5.3 > 50 kW to 500 kW
5.4 > 500 kW to 1 MW
5.5 > 1 MW to 30 MW
5.6 > 30 MW to 70 MW
5.7 > 70 MW to 200 MW
5.8 > 200 MW

Chapter 6 Gas Turbine Market, By Product (MW & USD)

6.1 Key trends, by product
6.2 Aero-Derivative
6.3 Heavy Duty

Chapter 7 Gas Turbine Market, By Technology (MW & USD)

7.1 Key trends, by technology
7.2 Open Cycle
7.3 Combined Cycle

Chapter 8 Gas Turbine Market, By Application (MW & USD)

8.1 Key trends, by application
8.2 Power Plants
8.3 Oil & Gas
8.4 Process Plants
8.5 Aviation
8.6 Marine
8.7 Others

Chapter 9 Gas Turbine Market, By Region (MW & USD)

9.1 Key trends, by region
9.2 North America
- 9.2.1 U.S.
- 9.2.2 Canada
- 9.2.3 Mexico
9.3 Europe
- 9.3.1 UK
- 9.3.2 France
- 9.3.3 Germany
- 9.3.4 Russia
- 9.3.5 Italy
- 9.3.6 Netherlands
- 9.3.7 Finland
- 9.3.8 Greece
- 9.3.9 Denmark
- 9.3.10 Romania
- 9.3.11 Poland
- 9.3.12 Sweden
9.4 Asia Pacific
- 9.4.1 China
- 9.4.2 Australia
- 9.4.3 Japan
- 9.4.4 South Korea
- 9.4.5 Indonesia
- 9.4.6 Thailand
- 9.4.7 Malaysia
- 9.4.8 Bangladesh
9.5 Middle East
- 9.5.1 Saudi Arabia
- 9.5.2 UAE
- 9.5.3 Qatar
- 9.5.4 Kuwait
- 9.5.5 Oman
- 9.5.6 Egypt
- 9.5.7 Turkey
- 9.5.8 Bahrain
- 9.5.9 Iraq
- 9.5.10 Jordan
- 9.5.11 Lebanon
- 9.5.12 South Africa
- 9.5.13 Nigeria
- 9.5.14 Algeria
- 9.5.15 Kenya
- 9.5.16 Ghana
9.6 Latin America
- 9.6.1 Brazil
- 9.6.2 Argentina
- 9.6.3 Peru
- 9.6.4 Chile

Chapter 10 Company Profiles

10.1 General Electric
10.2 Siemens
10.3 Mitsubishi Heavy Industries Ltd.
10.4 Wartsila
10.5 Kawasaki Heavy Industries, Ltd.
10.6 Opra Turbines
10.7 Solar Turbines Incorporated
10.8 Harbin Electric Corporation Co., Ltd.
10.9 Bharat Heavy Electricals Limited (BHEL)
10.10 VERICOR
10.11 MAN Energy Solutions
10.12 Capstone Green Energy Corporation
10.13 UEC-Saturn
10.14 Zorya-Mashproekt
10.15 Baker Hughes Company
10.16 Nanjing Turbine & Electric Machinery (Group) Co., Ltd.
10.17 Ansaldo Energia
10.18 Flex Energy Solutions
10.19 Doosan
10.20 Rolls Royce PLC

Gas Turbine Market Size - By Product (Aero-Derivative, Heavy Duty), By Technology (Open Cycle, Combined Cycle), By Application (Power Plants, Oil & Gas, Process Plants, Aviation, Marine), Capacity & Forecast, 2024 - 2034