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PUBLISHER: IMARC Services Private Limited | PRODUCT CODE: 1236750
PUBLISHER: IMARC Services Private Limited | PRODUCT CODE: 1236750
Gas Turbine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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The global gas turbine market size reached US$ 24.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 32.5 Billion by 2028, exhibiting a growth rate (CAGR) of 3.7% during 2023-2028.
A gas turbine is a type of internal combustion (IC) engine that converts the heat produced by liquid fuels and natural gases into mechanical energy. This energy is supplied to power generators that produce electricity, which is then utilized in various sectors including residential and industrial. A gas turbine operates through an upstream rotating compressor, a downstream turbine, and a combustion chamber that compresses the atmospheric air. These turbines can utilize a variety of fuels including synthetic fuels and natural gas. The aviation industry is one of the key industries where gas turbines are used to power jet propulsion. Marine, locomotive and automotive propulsions are some of the other areas where gas turbines play a pivotal role. In these applications, the electricity produced by these gas turbines is employed to power heavy machines such as aircraft, ships, trains, electrical generators, pumps and tanks.
Growing electricity demand is one of the key factors driving the market growth. With increasing population and robust growth in the industrial sector, the need for uninterrupted power supply is expeditiously rising. Furthermore, manufacturers are increasingly focusing on research and development (R&D) activities to develop turbines which offer the flexibility of fuel usage, operate at elevated temperatures and eliminate turbine failures. Also, there is a noticeable shift from conventionally used electricity generation technologies to gas-fired technologies owing to their energy-efficiency. Moreover, manufacturers are also investing heavily in R&D to develop cost-effective options for electricity generation.
Key Market Segmentation:
- IMARC Group provides an analysis of the key trends in each sub-segment of the global gas turbine market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on technology, design type, rated capacity and end-user.
Breakup by Technology:
- Combined Cycle Gas Turbine
- Open Cycle Gas Turbine
Breakup by Design Type:
- Heavy Duty (Frame) Type
- Aeroderivative Type
Breakup by Rated Capacity:
- Above 300 MW
- 120-300 MW
- 40-120 MW
- Less Than 40 MW
Breakup by End-User:
- Power Generation
- Mobility
- Oil and Gas
- Others
Breakup by Region:
- Asia Pacific
- Europe
- North America
- Middle East and Africa
- Latin America
Competitive Landscape:
- The report has also analysed the competitive landscape of the market with some of the key players being Kawasaki Heavy Industries, Siemens, GE, MHPS, Ansaldo, Harbin Electric, OPRA, MAN Diesel, Solar Turbines, Vericor Power, BHEL, Centrax, Zorya, Caterpillar, General Electric, Mitsubishi Heavy Industries, etc.
- IMARC Group's latest report provides a deep insight into the global gas turbine market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter's five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the global gas turbine market in any manner.
Key Questions Answered in This Report:
- 1. What was the size of the global gas turbine market in 2022?
- 2. What is the expected growth rate of the global gas turbine market during 2023-2028?
- 3. What are the key factors driving the global gas turbine market?
- 4. What has been the impact of COVID-19 on the global gas turbine market?
- 5. What is the breakup of the global gas turbine market based on the technology?
- 6. What is the breakup of the global gas turbine market based on the design type?
- 7. What is the breakup of the global gas turbine market based on the rated capacity?
- 8. What is the breakup of the global gas turbine market based on the end user?
- 9. What are the key regions in the global gas turbine market?
- 10. Who are the key players/companies in the global gas turbine market?
Product Code: SR1523A15_Report
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Gas Turbine Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Breakup by Technology
- 5.5 Market Breakup by Design Type
- 5.6 Market Breakup by Rated Capacity
- 5.7 Market Breakup by End-User
- 5.8 Market Breakup by Region
- 5.9 Market Forecast
6 Market Breakup by Technology
- 6.1 Combined Cycle Gas Turbine
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Open Cycle Gas Turbine
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
7 Market Breakup by Design Type
- 7.1 Heavy Duty (Frame) Type
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Aeroderivative Type
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
8 Market Breakup by Rated Capacity
- 8.1 Above 300 MW
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 120-300 MW
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 40-120 MW
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Less Than 40 MW
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
9 Market Breakup by End-User
- 9.1 Power Generation
- 9.1.1 Market Trends
- 9.1.2 Market Forecast
- 9.2 Mobility
- 9.2.1 Market Trends
- 9.2.2 Market Forecast
- 9.3 Oil and Gas
- 9.3.1 Market Trends
- 9.3.2 Market Forecast
- 9.4 Others
- 9.4.1 Market Trends
- 9.4.2 Market Forecast
10 Market Breakup by Region
- 10.1 Asia Pacific
- 10.1.1 Market Trends
- 10.1.2 Market Forecast
- 10.2 Europe
- 10.2.1 Market Trends
- 10.2.2 Market Forecast
- 10.3 North America
- 10.3.1 Market Trends
- 10.3.2 Market Forecast
- 10.4 Middle East and Africa
- 10.4.1 Market Trends
- 10.4.2 Market Forecast
- 10.5 Latin America
- 10.5.1 Market Trends
- 10.5.2 Market Forecast
11 SWOT Analysis
- 11.1 Overview
- 11.2 Strengths
- 11.3 Weaknesses
- 11.4 Opportunities
- 11.5 Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis
- 13.1 Overview
- 13.2 Bargaining Power of Buyers
- 13.3 Bargaining Power of Suppliers
- 13.4 Degree of Competition
- 13.5 Threat of New Entrants
- 13.6 Threat of Substitutes
14 Price Analysis
15 Competitive Landscape
- 15.1 Market Structure
- 15.2 Key Players
- 15.3 Profiles of Key Players
- 15.3.1 Kawasaki Heavy Industries
- 15.3.2 Siemens
- 15.3.3 GE
- 15.3.4 MHPS
- 15.3.5 Ansaldo
- 15.3.6 Harbin Electric
- 15.3.7 OPRA
- 15.3.8 MAN Diesel
- 15.3.9 Solar Turbines
- 15.3.10 Vericor Power
- 15.3.11 BHEL
- 15.3.12 Centrax
- 15.3.13 Zorya
- 15.3.14 Caterpillar
- 15.3.15 General Electric
- 15.3.16 Mitsubishi Heavy Industries
Product Code: SR1523A15_Report
List of Figures
- Figure 1: Global: Gas Turbine Market: Major Drivers and Challenges
- Figure 2: Global: Gas Turbine Market: Sales Value (in Billion US$), 2017-2022
- Figure 3: Global: Gas Turbine Market: Breakup by Technology (in %), 2022
- Figure 4: Global: Gas Turbine Market: Breakup by Design Type (in %), 2022
- Figure 5: Global: Gas Turbine Market: Breakup by Rated Capacity (in %), 2022
- Figure 6: Global: Gas Turbine Market: Breakup by End-User (in %), 2022
- Figure 7: Global: Gas Turbine Market: Breakup by Region (in %), 2022
- Figure 8: Global: Gas Turbine Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 9: Global: Gas Turbine Industry: SWOT Analysis
- Figure 10: Global: Gas Turbine Industry: Value Chain Analysis
- Figure 11: Global: Gas Turbine Industry: Porter's Five Forces Analysis
- Figure 12: Global: Gas Turbine (Combined Cycle Gas Turbine) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 13: Global: Gas Turbine (Combined Cycle Gas Turbine) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 14: Global: Gas Turbine (Open Cycle Gas Turbine) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 15: Global: Gas Turbine (Open Cycle Gas Turbine) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 16: Global: Gas Turbine (Heavy Duty Type) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 17: Global: Gas Turbine (Heavy Duty Type) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 18: Global: Gas Turbine (Aeroderivative Type) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 19: Global: Gas Turbine (Aeroderivative Type) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 20: Global: Gas Turbine (Above 300 MW) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 21: Global: Gas Turbine (Above 300 MW) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 22: Global: Gas Turbine (120-300 MW) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 23: Global: Gas Turbine (120-300 MW) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 24: Global: Gas Turbine (40-120 MW) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 25: Global: Gas Turbine (40-120 MW) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 26: Global: Gas Turbine (Less Than 40 MW) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 27: Global: Gas Turbine (Less Than 40 MW) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 28: Global: Gas Turbine (Power Generation) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 29: Global: Gas Turbine (Power Generation) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 30: Global: Gas Turbine (Mobility) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 31: Global: Gas Turbine (Mobility) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 32: Global: Gas Turbine (Oil and Gas) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 33: Global: Gas Turbine (Oil and Gas) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 34: Global: Gas Turbine (Other End-Users) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 35: Global: Gas Turbine (Other End-Users) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 36: Asia Pacific: Gas Turbine Market: Sales Value (in Million US$), 2017 & 2022
- Figure 37: Asia Pacific: Gas Turbine Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 38: Europe: Gas Turbine Market: Sales Value (in Million US$), 2017 & 2022
- Figure 39: Europe: Gas Turbine Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 40: North America: Gas Turbine Market: Sales Value (in Million US$), 2017 & 2022
- Figure 41: North America: Gas Turbine Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 42: Middle East and Africa: Gas Turbine Market: Sales Value (in Million US$), 2017 & 2022
- Figure 43: Middle East and Africa: Gas Turbine Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 44: Latin America: Gas Turbine Market: Sales Value (in Million US$), 2017 & 2022
- Figure 45: Latin America: Gas Turbine Market Forecast: Sales Value (in Million US$), 2023-2028
List of Tables
- Table 1: Global: Gas Turbine Market: Key Industry Highlights, 2022 and 2028
- Table 2: Global: Gas Turbine Market Forecast: Breakup by Technology (in Million US$), 2023-2028
- Table 3: Global: Gas Turbine Market Forecast: Breakup by Design Type (in Million US$), 2023-2028
- Table 4: Global: Gas Turbine Market Forecast: Breakup by Rated Capacity (in Million US$), 2023-2028
- Table 5: Global: Gas Turbine Market Forecast: Breakup by End-User (in Million US$), 2023-2028
- Table 6: Global: Gas Turbine Market Forecast: Breakup by Region (in Million US$), 2023-2028
- Table 7: Global: Gas Turbine Market Structure
- Table 8: Global: Gas Turbine Market: Key Players
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