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Market Research Report
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1092398

Gas Turbine Market Size, Share & Trends Analysis Report By Capacity (=<200 MW, >200 MW), By Technology (Open Cycle, Combined Cycle), By End Use (Industrial, Power & Utility), By Region, And Segment Forecasts, 2022 - 2030

Published: | Grand View Research, Inc. | 112 Pages | Delivery time: 2-10 business days

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Gas Turbine Market Size, Share & Trends Analysis Report By Capacity (=<200 MW, >200 MW), By Technology (Open Cycle, Combined Cycle), By End Use (Industrial, Power & Utility), By Region, And Segment Forecasts, 2022 - 2030
Published: May 2, 2022
Grand View Research, Inc.
Content info: 112 Pages
Delivery time: 2-10 business days
  • Description
  • Table of Contents
  • List of Tables

Gas Turbine Market Growth & Trends:

The global gas turbine market size is projected to reach USD 38.80 billion by 2030, registering a CAGR of 6.2% over the forecast period, according to a new report by Grand View Research, Inc. Supportive policies majorly determine the increasing demand for gas turbines in developing markets, such as Combined Heat and Power (CHP) support scheme executed by Germany.

Rapid technological advancements in the energy industry, combined with a shift in focus toward distributed power production technologies, are propelling the worldwide market forward. This market is predicted to expand rapidly during the forecast period, owing to increased government backing for power production technologies that minimize carbon dioxide (CO2) emissions around the world.

>200 MW emerged as one of the most significant segments in this market with a revenue share of more than 65.0% in 2021. It is likely to be the fastest-growing segment during the forecast period. The rising power generation operations around the world, as well as the move from coal to gas-based power plants in some of the world's major countries, are driving demand in this category.

The combined cycle turbines sector accounted for the largest revenue share of approximately 72.0% in 2021 and is anticipated to continue its dominance in the near future. This technology category is expected to increase at a faster rate in the coming years. These turbines use less fuel to produce the same amount of energy and eliminate transmission and distribution losses.

The Power & utility sector accounted for the largest revenue share of approximately 81.0% in 2021. Increased demand for power generation is being driven by the expansion in population and urbanization around the world, which is boosting the use of gas turbines in the power and utility sectors.

Asia Pacific emerged as the largest market share of more than 31.0% of the market in terms of revenue as of 2021. During the forecast period, the area led by China, Japan, Indonesia, Thailand, and India is expected to grow at the quickest rate. The Asia Pacific region's regional need for electricity is being driven by rapid urbanization and the emergence of a middle class.

The rising demand for LNG is primarily driven by the shale gas reserve and technological development in extraction and mining technology which are consistently lowering the operational cost of gas extraction in the region. Further, the North American region has witnessed large-scale commissioning of gas-based power.

Gas Turbine Market Report Highlights:

  • In 2021, Power & Utility emerged as the largest application segment and accounted for 81.0% share, with the increasing investments and new installations are resulting in the rising share of distributed power in the global energy mix hence propelling the gas turbine market.
  • >200 MW capacity segment is poised to register a CAGR of 6.7% during the forecast period, owing to growing electricity generation activities across the world.
  • In 2021, the combined-cycle application segment accounted for more than 72.0% of the overall market revenue. This share resulted majorly due to the growing demand for open cycle gas turbine technology.
  • In 2021, Saudi Arabia is the major end-users of gas turbines in the MEA region. This has led to the wide presence of gas turbine providers in the country which are working towards enhancing their market share in the country. Major OEMs such as Siemens Energy, General Electric, and Mitsubishi Power, Ltd. are providing gas turbines in the country
Product Code: GVR-1-68038-225-9

Table of Contents

Chapter 1 Methodology and Scope

  • 1.1 Information Procurement
  • 1.2 Research Methodology
  • 1.3 Research scope and assumptions
    • 1.3.1 Purchased Database
    • 1.3.2 GVR's Internal Database
    • 1.3.3 Secondary Sources
    • 1.3.4 Third Party Perspective
    • 1.3.5 Primary Research
  • 1.4 Information Analysis
    • 1.4.1 Data Analysis Models
  • 1.5 Market Formulation and Data Visualization
  • 1.6 Data Validation and Publishing

Chapter 2 Executive Summary

  • 2.1 Market Snapshot

Chapter 3 Gas Turbine Market Variables, Trends & Scope

  • 3.1 Market Lineage Outlook
    • 3.1.1 Global Power Generation Market Outlook
  • 3.2 Penetration & Growth Prospect Mapping
  • 3.3 Industry Value Chain Analysis
    • 3.3.1 Fuel Availability Overview
  • 3.4 Technology Trends
    • 3.4.1 Technology Trends
  • 3.5 Regulatory Framework
    • 3.5.1 Standard and Compliances
    • 3.5.2 Policies and Plans by Major Countries
  • 3.6 Market Dynamics
    • 3.6.1 Market Driver Analysis
    • 3.6.2 Market Restraint Analysis
    • 3.6.3 Opportunity Assessment
  • 3.7 Business Environment Analysis: Gas Turbine Market
    • 3.7.1 Industry Analysis - Porter's Five Forces
    • 3.7.2 PESTEL Analysis
  • 3.8 Impact of COVID on Gas Turbine Market

Chapter 4 Gas Turbine Market: Capacity Estimates & Trend Analysis

  • 4.1 Gas Turbine market: Capacity movement analysis, 2021 & 2030
  • 4.2 ≤200 MW
    • 4.2.1 Gas Turbine market estimates and forecasts, in ≤200 MW, 2019 - 2030 (MW) (USD Million)
  • 4.3 >200 MW
    • 4.3.1 Gas Turbine market estimates and forecasts, in >200 MW, 2019 - 2030 (MW) (USD Million)

Chapter 5 Gas Turbine Market: Technology Estimates & Trend Analysis

  • 5.1 Gas Turbine market: Technology movement analysis, 2021 & 2030
  • 5.2 Open Cycle
    • 5.2.1 Gas Turbine market estimates and forecasts, in Open Cycle, 2019 - 2030 (MW) (USD Million)
  • 5.3 Combined Cycle
    • 5.3.1 Gas Turbine market estimates and forecasts, in Combined Cycle, 2019 - 2030 (MW) (USD Million)

Chapter 6 Gas Turbine Market: End Use Estimates & Trend Analysis

  • 6.1 Gas Turbine market: End Use movement analysis, 2021 & 2030
  • 6.2 Power & Utility
    • 6.2.1 Gas Turbine market estimates and forecasts, in Power & Utility, 2019 - 2030 (MW) (USD Million)
  • 6.3 Industrial
    • 6.3.1 Gas Turbine market estimates and forecasts, in Industrial, 2019 - 2030 (MW) (USD Million)

Chapter 7 Gas Turbine Market: Regional Estimates & Trend Analysis

  • 7.1 Gas Turbine market: Region movement analysis
  • 7.2 North America
    • 7.2.1 North America Gas Turbine market estimates and forecasts, 2019 - 2030 (MW) (USD Million)
    • 7.2.2 North America Gas Turbine market estimates and forecasts, by Capacity, 2019 - 2030 (MW) (USD Million)
    • 7.2.3 North America Gas Turbine market estimates and forecasts, by Technology, 2019 - 2030 (MW) (USD Million)
    • 7.2.4 North America Gas Turbine market estimates and forecasts, by End Use, 2019 - 2030 (MW) (USD Million)
    • 7.2.5 U.S.
      • 7.2.3.1 U.S. Gas Turbine market estimates and forecasts, 2019 - 2030 (MW) (USD Million)
      • 7.2.3.2 U.S. Gas Turbine market estimates and forecasts, by Capacity, 2019 - 2030 (MW) (USD Million)
      • 7.2.3.3 U.S. Gas Turbine market estimates and forecasts, by Technology, 2019 - 2030 (MW) (USD Million)
      • 7.2.3.4 U.S. Gas Turbine market estimates and forecasts, by End Use, 2019 - 2030 (MW) (USD Million)
  • 7.3 Europe
    • 7.3.1 Europe Gas Turbine market estimates and forecasts, 2019 - 2030 (MW) (USD Million)
    • 7.3.2 Europe Gas Turbine market estimates and forecasts, by Capacity, 2019 - 2030 (MW) (USD Million)
    • 7.3.3 Europe Gas Turbine market estimates and forecasts, by Technology, 2019 - 2030 (MW) (USD Million)
    • 7.2.4 Europe Gas Turbine market estimates and forecasts, by End Use, 2019 - 2030 (MW) (USD Million)
    • 7.3.5 Russia
      • 7.3.5.1 Russia Gas Turbine market estimates and forecasts, 2019 - 2030 (MW) (USD Million)
      • 7.3.5.2 Russia Gas Turbine market estimates and forecasts, by Capacity, 2019 - 2030 (MW) (USD Million)
      • 7.3.5.3 Russia Gas Turbine market estimates and forecasts, by Technology, 2019 - 2030 (MW) (USD Million)
      • 7.3.5.4 Russia Gas Turbine market estimates and forecasts, by End Use, 2019 - 2030 (MW) (USD Million)
  • 7.4 Asia Pacific
    • 7.4.1 Asia Pacific Gas Turbine market estimates and forecasts, 2019 - 2030 (MW) (USD Million)
    • 7.4.2 Asia Pacific Gas Turbine market estimates and forecasts, by Capacity, 2019 - 2030 (MW) (USD Million)
    • 7.3.3 Asia Pacific Gas Turbine market estimates and forecasts, by Technology, 2019 - 2030 (MW) (USD Million)
    • 7.4.4 Asia Pacific Gas Turbine market estimates and forecasts, by End Use, 2019 - 2030 (MW) (USD Million)
    • 7.4.5 China
      • 7.4.5.1 China Gas Turbine market estimates and forecasts, 2019 - 2030 (MW) (USD Million)
      • 7.4.5.2 China Gas Turbine market estimates and forecasts, by Capacity, 2019 - 2030 (MW) (USD Million)
      • 7.4.5.3 China Gas Turbine market estimates and forecasts, by Technology, 2019 - 2030 (MW) (USD Million)
      • 7.4.5.4 China Gas Turbine market estimates and forecasts, by End Use, 2019 - 2030 (MW) (USD Million)
    • 7.4.6 India
      • 7.4.6.1 India Gas Turbine market estimates and forecasts, 2019 - 2030 (MW) (USD Million)
      • 7.4.6.2 India Gas Turbine market estimates and forecasts, by Capacity, 2019 - 2030 (MW) (USD Million)
      • 7.4.6.3 India Gas Turbine market estimates and forecasts, by Technology, 2019 - 2030 (MW) (USD Million)
      • 7.4.6.4 India Gas Turbine market estimates and forecasts, by End Use, 2019 - 2030 (MW) (USD Million)
    • 7.4.7 Japan
      • 7.4.7.1 Japan Gas Turbine market estimates and forecasts, 2019 - 2030 (MW) (USD Million)
      • 7.4.7.2 Japan Gas Turbine market estimates and forecasts, by Capacity, 2019 - 2030 (MW) (USD Million)
      • 7.4.7.3 Japan Gas Turbine market estimates and forecasts, by Technology, 2019 - 2030 (MW) (USD Million)
      • 7.4.7.4 Japan Gas Turbine market estimates and forecasts, by End Use, 2019 - 2030 (MW) (USD Million)
  • 7.5 Central & South America
    • 7.5.1 Central & South America Gas Turbine market estimates and forecasts, 2019 - 2030 (MW) (USD Million)
    • 7.5.2 Central & South America Gas Turbine market estimates and forecasts, by Capacity, 2019 - 2030 (MW) (USD Million)
    • 7.5.3 Central & South America Gas Turbine market estimates and forecasts, by Technology, 2019 - 2030 (MW) (USD Million)
    • 7.5.4 Central & South America Gas Turbine market estimates and forecasts, by End Use, 2019 - 2030 (MW) (USD Million)
  • 7.6 Middle East and Africa
    • 7.6.1 Middle East and Africa Gas Turbine market estimates and forecasts, 2019 - 2030 (MW) (USD Million)
    • 7.6.2 Middle East and Africa Gas Turbine market estimates and forecasts, by Capacity, 2019 - 2030 (MW) (USD Million)
    • 7.6.3 Middle East and Africa Gas Turbine market estimates and forecasts, by Technology, 2019 - 2030 (MW) (USD Million)
    • 7.6.4 Middle East and Africa Gas Turbine market estimates and forecasts, by End Use, 2019 - 2030 (MW) (USD Million)
    • 7.6.5 Saudi Arabia
      • 7.6.5.1 Saudi Arabia Gas Turbine market estimates and forecasts, 2019 - 2030 (MW) (USD Million)
      • 7.6.5.2 Saudi Arabia Gas Turbine market estimates and forecasts, by Capacity, 2019 - 2030 (MW) (USD Million)
      • 7.6.5.3 Saudi Arabia Gas Turbine market estimates and forecasts, by Technology, 2019 - 2030 (MW) (USD Million)
      • 7.6.5.4 Saudi Arabia Gas Turbine market estimates and forecasts, by End Use, 2019 - 2030 (MW) (USD Million)
    • 7.6.6 Egypt
      • 7.6.6.1 Egypt Gas Turbine market estimates and forecasts, 2019 - 2030 (MW) (USD Million)
      • 7.6.6.2 Egypt Gas Turbine market estimates and forecasts, by Capacity, 2019 - 2030 (MW) (USD Million)
      • 7.6.6.3 Egypt Gas Turbine market estimates and forecasts, by Technology, 2019 - 2030 (MW) (USD Million)
      • 7.6.6.4 Egypt Gas Turbine market estimates and forecasts, by End Use, 2019 - 2030 (MW) (USD Million)

Chapter 8 Competitive Landscape

  • 8.1 Key Global Players & Recent Developments & Their Impact On The Industry
  • 8.2 Vendor Landscape
    • 8.2.1 List of Key Distributors and Channel Partners
    • 8.2.2 Company Market Position Analysis

Chapter 9 Company Profiles

  • 9.1 General Electric
    • 9.1.1 Company Overview
    • 9.1.2 Financial Performance
    • 9.1.3 Product Benchmarking
    • 9.1.4 Strategic Initiatives
  • 9.2 Siemens Energy
    • 9.2.1 Company Overview
    • 9.2.2 Financial Performance
    • 9.2.3 Product Benchmarking
    • 9.2.4 Strategic Initiatives
  • 9.3 Mitsubishi Power, Ltd.
    • 9.3.1 Company Overview
    • 9.3.2 Financial Performance
    • 9.3.3 Product Benchmarking
    • 9.3.4 Strategic Initiatives
  • 9.4 Kawasaki Heavy Industries, Ltd.
    • 9.4.1 Company Overview
    • 9.4.2 Financial Performance
    • 9.4.3 Product Benchmarking
    • 9.4.4 Strategic Initiatives
  • 9.5 Solar Turbines Incorporated
    • 9.5.1 Company Overview
    • 9.5.2 Financial Performance
    • 9.5.3 Product Benchmarking
    • 9.5.4 Strategic Initiatives
  • 9.6 Ansaldo Energia
    • 9.6.1 Company Overview
    • 9.6.2 Financial Performance
    • 9.6.3 Product Benchmarking
    • 9.6.4 Strategic Initiatives
  • 9.7 Bharat Heavy Electricals Limited
    • 9.7.1 Company Overview
    • 9.7.2 Financial Performance
    • 9.7.3 Product Benchmarking
    • 9.7.4 Strategic Initiatives
  • 9.8 OPRA Turbines
    • 9.8.1 Company Overview
    • 9.8.2 Financial Performance
    • 9.8.3 Product Benchmarking
    • 9.8.4 Strategic Initiatives
  • 9.9 Man Energy Solutions
    • 9.9.1 Company Overview
    • 9.9.2 Financial Performance
    • 9.9.3 Product Benchmarking
    • 9.9.4 Strategic Initiatives
  • 9.10 Centrax Gas Turbines
    • 9.10.1 Company Overview
    • 9.10.2 Financial Performance
    • 9.10.3 Product Benchmarking
    • 9.10.4 Strategic Initiatives 

List of Tables

  • Table 1 Gas turbine market estimates and forecasts, in Capacity, 2019 - 2030 (MW) (USD Million)
  • Table 2 Gas turbine market estimates and forecasts, in Technology, 2019 - 2030 (MW) (USD Million)
  • Table 3 Gas turbine market estimates and forecasts, in End Use, 2019 - 2030 (MW) (USD Million)
  • Table 4 North America gas turbine market estimates and forecasts, 2019 - 2030 (MW) (USD Million)
  • Table 5 North America gas turbine market by Capacity, 2019 - 2030 (MW) (USD Million)
  • Table 6 North America gas turbine market by Technology, 2019 - 2030 (MW) (USD Million)
  • Table 7 North America gas turbine market by End-Use, 2019 - 2030 (MW) (USD Million)
  • Table 8 U.S. gas turbine market by Capacity, 2019 - 2030 (MW) (USD Million)
  • Table 9 U.S. gas turbine market by Technology, 2019 - 2030 (MW) (USD Million)
  • Table 10 U.S. gas turbine market revenue, by End-Use, 2019 - 2030 (MW) (USD Million)
  • Table 11 Europe gas turbine market by Capacity, 2019 - 2030 (MW) (USD Million)
  • Table 12 Europe gas turbine market by Technology, 2019 - 2030 (MW) (USD Million)
  • Table 10 Europe gas turbine market revenue, by End-Use, 2019 - 2030 (MW) (USD Million)
  • Table 11 Russia gas turbine market by Capacity, 2019 - 2030 (MW) (USD Million)
  • Table 12 Russia gas turbine market by Technology, 2019 - 2030 (MW) (USD Million)
  • Table 13 Russia gas turbine market revenue, by End-Use, 2019 - 2030 (MW) (USD Million)
  • Table 14 Asia Pacific gas turbine market by Capacity, 2019 - 2030 (MW) (USD Million)
  • Table 15 Asia Pacific gas turbine market by Technology, 2019 - 2030 (MW) (USD Million)
  • Table 16 Asia Pacific gas turbine market revenue, by End-Use, 2019 - 2030 (MW) (USD Million)
  • Table 17 China gas turbine market by Capacity, 2019 - 2030 (MW) (USD Million)
  • Table 18 China gas turbine market by Technology, 2019 - 2030 (MW) (USD Million)
  • Table 19 China gas turbine market revenue, by End-Use, 2019 - 2030 (MW) (USD Million)
  • Table 20 India gas turbine market by Capacity, 2019 - 2030 (MW) (USD Million)
  • Table 21 India gas turbine market by Technology, 2019 - 2030 (MW) (USD Million)
  • Table 22 India gas turbine market revenue, by End-Use, 2019 - 2030 (MW) (USD Million)
  • Table 23 Japan gas turbine market by Capacity, 2019 - 2030 (MW) (USD Million)
  • Table 24 Japan gas turbine market by Technology, 2019 - 2030 (MW) (USD Million)
  • Table 25 Japan gas turbine market revenue, by End-Use, 2019 - 2030 (MW) (USD Million)
  • Table 26 Central And South America gas turbine market by Capacity, 2019 - 2030 (MW) (USD Million)
  • Table 27 Central And South America gas turbine market by Technology, 2019 - 2030 (MW) (USD Million)
  • Table 28 Central And South America gas turbine market revenue, by End-Use, 2019 - 2030 (MW) (USD Million)
  • Table 29 Middle East & Africa gas turbine market by Capacity, 2019 - 2030 (MW) (USD Million)
  • Table 30 Middle East & Africa gas turbine market by Technology, 2019 - 2030 (MW) (USD Million)
  • Table 31 Middle East & Africa gas turbine market revenue, by End-Use, 2019 - 2030 (MW) (USD Million)
  • Table 32 Saudi Arabia gas turbine market by Capacity, 2019 - 2030 (MW) (USD Million)
  • Table 33 Saudi Arabia gas turbine market by Technology, 2019 - 2030 (MW) (USD Million)
  • Table 34 Saudi Arabia gas turbine market revenue, by End-Use, 2019 - 2030 (MW) (USD Million)
  • Table 35 Egypt gas turbine market by Capacity, 2019 - 2030 (MW) (USD Million)
  • Table 36 Egypt gas turbine market by Technology, 2019 - 2030 (MW) (USD Million)
  • Table 37 Egypt gas turbine market revenue, by End-Use, 2019 - 2030 (MW) (USD Million)

List of Figures

  • Fig. 1 Information procurement
  • Fig. 2 Primary research pattern
  • Fig. 3 Primary research process
  • Fig. 4 Market research approaches - Bottom-Up Approach
  • Fig. 5 Market research approaches - Top-Down Approach
  • Fig. 6 Market research approaches - Combined Approach
  • Fig. 7 Gas Turbine Market Snapshot
  • Fig. 8 Gas Turbine Market Segmentation
  • Fig. 9 Gas Turbine Market: Penetration & Growth Prospect Mapping
  • Fig. 10 Gas Turbine Market: Value chain analysis
  • Fig. 11 PORTER's Five Forces Analysis
  • Fig. 12 PESTEL Analysis
  • Fig. 13 Gas Turbine market: Capacity movement analysis, 2021 & 2030
  • Fig. 14 Gas Turbine market: Technology movement analysis, 2021 & 2030
  • Fig. 15 Gas Turbine market: End-Use movement analysis, 2021 & 2030
  • Fig. 16 Gas Turbine market: Region movement analysis, 2021 & 2030