Global Gas Turbines Market for Power Industry 2023-2027

Description

List of Tables

Technavio has been monitoring the gas turbine market for the power industry and it is poised to grow by $3,356.87 mn during 2023-2027, accelerating at a CAGR of 3.05% during the forecast period. Our report on the gas turbine market for the power industry provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by the growth of distributed power generation base, an increase in CCGT power plants, and a Focus on the reduction of carbon emissions.

Technavio's gas turbines market for the power industry is segmented as below:

By Product

Heavy-duty gas turbine
Aeroderivative gas turbine

By Technology

CCGT
OCGT

By Geographical Landscape

APAC
North America
Europe
Middle East and Africa
South America

This study identifies the technological innovations in gas turbines as one of the prime reasons driving the gas turbine market for power industry growth during the next few years. Also, adopting cogeneration technology and the growing use of alternative fuel types for aero-derivative gas turbines will lead to sizable demand in the market.

Gas turbines market for power industry sizing
Gas turbines market for power industry forecast
Gas turbines market for power industry analysis

Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading gas turbines market for power industry vendors that include Ansaldo Energia Spa, Bharat Heavy Electricals Ltd., Capstone Green Energy Corp., Caterpillar Inc., Centrax Ltd., Cryostar, Doosan Corp., General Electric Co., Harbin Electric Co. Ltd., IHI Corp., JSC The Ural Turbine Works, Kawasaki Heavy Industries Ltd., MAN Energy Solutions SE, MAPNA Group Co., Motor Sich JSC, OPRA Technologies B.V., Pumori Energy Ltd., Siemens AG, Vericor Power Systems, and Mitsubishi Heavy Industries Ltd. Also, the gas turbine market for power industry analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Product Code: IRTNTR44562

1 Executive Summary

1.1 Market overview
Exhibit 01: Executive Summary - Chart on Market Overview
Exhibit 02: Executive Summary - Data Table on Market Overview
Exhibit 03: Executive Summary - Chart on Global Market Characteristics
Exhibit 04: Executive Summary - Chart on Market By Geographical Landscape
Exhibit 05: Executive Summary - Chart on Market Segmentation by Product
Exhibit 06: Executive Summary - Chart on Market Segmentation by Technology
Exhibit 07: Executive Summary - Chart on Incremental Growth
Exhibit 08: Executive Summary - Data Table on Incremental Growth
Exhibit 09: Executive Summary - Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
Exhibit 10: Parent market
Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition
Exhibit 12: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 13: Market segments
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

4.1 Global gas turbines market for power industry 2017 - 2021
Exhibit 18: Historic Market Size - Data Table on Global gas turbines market for power industry 2017 - 2021 ($ million)
4.2 Product Segment Analysis 2017 - 2021
Exhibit 19: Historic Market Size - Product Segment 2017 - 2021 ($ million)
4.3 Technology Segment Analysis 2017 - 2021
Exhibit 20: Historic Market Size - Technology Segment 2017 - 2021 ($ million)
4.4 Geography Segment Analysis 2017 - 2021
Exhibit 21: Historic Market Size - Geography Segment 2017 - 2021 ($ million)
4.5 Country Segment Analysis 2017 - 2021
Exhibit 22: Historic Market Size - Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

5.1 Five forces summary
Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
5.2 Bargaining power of buyers
Exhibit 24: Chart on Bargaining power of buyers - Impact of key factors 2022 and 2027
5.3 Bargaining power of suppliers
Exhibit 25: Bargaining power of suppliers - Impact of key factors in 2022 and 2027
5.4 Threat of new entrants
Exhibit 26: Threat of new entrants - Impact of key factors in 2022 and 2027
5.5 Threat of substitutes
Exhibit 27: Threat of substitutes - Impact of key factors in 2022 and 2027
5.6 Threat of rivalry
Exhibit 28: Threat of rivalry - Impact of key factors in 2022 and 2027
5.7 Market condition
Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Product

6.1 Market segments
Exhibit 30: Chart on Product - Market share 2022-2027 (%)
Exhibit 31: Data Table on Product - Market share 2022-2027 (%)
6.2 Comparison by Product
Exhibit 32: Chart on Comparison by Product
Exhibit 33: Data Table on Comparison by Product
6.3 Heavy-duty gas turbine - Market size and forecast 2022-2027
Exhibit 34: Chart on Heavy-duty gas turbine - Market size and forecast 2022-2027 ($ million)
Exhibit 35: Data Table on Heavy-duty gas turbine - Market size and forecast 2022-2027 ($ million)
Exhibit 36: Chart on Heavy-duty gas turbine - Year-over-year growth 2022-2027 (%)
Exhibit 37: Data Table on Heavy-duty gas turbine - Year-over-year growth 2022-2027 (%)
6.4 Aeroderivative gas turbine - Market size and forecast 2022-2027
Exhibit 38: Chart on Aeroderivative gas turbine - Market size and forecast 2022-2027 ($ million)
Exhibit 39: Data Table on Aeroderivative gas turbine - Market size and forecast 2022-2027 ($ million)
Exhibit 40: Chart on Aeroderivative gas turbine - Year-over-year growth 2022-2027 (%)
Exhibit 41: Data Table on Aeroderivative gas turbine - Year-over-year growth 2022-2027 (%)
6.5 Market opportunity by Product
Exhibit 42: Market opportunity by Product ($ million)

7 Market Segmentation by Technology

7.1 Market segments
Exhibit 43: Chart on Technology - Market share 2022-2027 (%)
Exhibit 44: Data Table on Technology - Market share 2022-2027 (%)
7.2 Comparison by Technology
Exhibit 45: Chart on Comparison by Technology
Exhibit 46: Data Table on Comparison by Technology
7.3 CCGT - Market size and forecast 2022-2027
Exhibit 47: Chart on CCGT - Market size and forecast 2022-2027 ($ million)
Exhibit 48: Data Table on CCGT - Market size and forecast 2022-2027 ($ million)
Exhibit 49: Chart on CCGT - Year-over-year growth 2022-2027 (%)
Exhibit 50: Data Table on CCGT - Year-over-year growth 2022-2027 (%)
7.4 OCGT - Market size and forecast 2022-2027
Exhibit 51: Chart on OCGT - Market size and forecast 2022-2027 ($ million)
Exhibit 52: Data Table on OCGT - Market size and forecast 2022-2027 ($ million)
Exhibit 53: Chart on OCGT - Year-over-year growth 2022-2027 (%)
Exhibit 54: Data Table on OCGT - Year-over-year growth 2022-2027 (%)
7.5 Market opportunity by Technology
Exhibit 55: Market opportunity by Technology ($ million)

8 Customer Landscape

8.1 Customer landscape overview
Exhibit 56: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation
Exhibit 57: Chart on Market share By Geographical Landscape 2022-2027 (%)
Exhibit 58: Data Table on Market share By Geographical Landscape 2022-2027 (%)
9.2 Geographic comparison
Exhibit 59: Chart on Geographic comparison
Exhibit 60: Data Table on Geographic comparison
9.3 APAC - Market size and forecast 2022-2027
Exhibit 61: Chart on APAC - Market size and forecast 2022-2027 ($ million)
Exhibit 62: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
Exhibit 63: Chart on APAC - Year-over-year growth 2022-2027 (%)
Exhibit 64: Data Table on APAC - Year-over-year growth 2022-2027 (%)
9.4 North America - Market size and forecast 2022-2027
Exhibit 65: Chart on North America - Market size and forecast 2022-2027 ($ million)
Exhibit 66: Data Table on North America - Market size and forecast 2022-2027 ($ million)
Exhibit 67: Chart on North America - Year-over-year growth 2022-2027 (%)
Exhibit 68: Data Table on North America - Year-over-year growth 2022-2027 (%)
9.5 Europe - Market size and forecast 2022-2027
Exhibit 69: Chart on Europe - Market size and forecast 2022-2027 ($ million)
Exhibit 70: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
Exhibit 71: Chart on Europe - Year-over-year growth 2022-2027 (%)
Exhibit 72: Data Table on Europe - Year-over-year growth 2022-2027 (%)
9.6 Middle East and Africa - Market size and forecast 2022-2027
Exhibit 73: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
Exhibit 74: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
Exhibit 75: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
Exhibit 76: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
9.7 South America - Market size and forecast 2022-2027
Exhibit 77: Chart on South America - Market size and forecast 2022-2027 ($ million)
Exhibit 78: Data Table on South America - Market size and forecast 2022-2027 ($ million)
Exhibit 79: Chart on South America - Year-over-year growth 2022-2027 (%)
Exhibit 80: Data Table on South America - Year-over-year growth 2022-2027 (%)
9.8 US - Market size and forecast 2022-2027
Exhibit 81: Chart on US - Market size and forecast 2022-2027 ($ million)
Exhibit 82: Data Table on US - Market size and forecast 2022-2027 ($ million)
Exhibit 83: Chart on US - Year-over-year growth 2022-2027 (%)
Exhibit 84: Data Table on US - Year-over-year growth 2022-2027 (%)
9.9 China - Market size and forecast 2022-2027
Exhibit 85: Chart on China - Market size and forecast 2022-2027 ($ million)
Exhibit 86: Data Table on China - Market size and forecast 2022-2027 ($ million)
Exhibit 87: Chart on China - Year-over-year growth 2022-2027 (%)
Exhibit 88: Data Table on China - Year-over-year growth 2022-2027 (%)
9.10 Germany - Market size and forecast 2022-2027
Exhibit 89: Chart on Germany - Market size and forecast 2022-2027 ($ million)
Exhibit 90: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
Exhibit 91: Chart on Germany - Year-over-year growth 2022-2027 (%)
Exhibit 92: Data Table on Germany - Year-over-year growth 2022-2027 (%)
9.11 Japan - Market size and forecast 2022-2027
Exhibit 93: Chart on Japan - Market size and forecast 2022-2027 ($ million)
Exhibit 94: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
Exhibit 95: Chart on Japan - Year-over-year growth 2022-2027 (%)
Exhibit 96: Data Table on Japan - Year-over-year growth 2022-2027 (%)
9.12 India - Market size and forecast 2022-2027
Exhibit 97: Chart on India - Market size and forecast 2022-2027 ($ million)
Exhibit 98: Data Table on India - Market size and forecast 2022-2027 ($ million)
Exhibit 99: Chart on India - Year-over-year growth 2022-2027 (%)
Exhibit 100: Data Table on India - Year-over-year growth 2022-2027 (%)
9.13 Canada - Market size and forecast 2022-2027
Exhibit 101: Chart on Canada - Market size and forecast 2022-2027 ($ million)
Exhibit 102: Data Table on Canada - Market size and forecast 2022-2027 ($ million)
Exhibit 103: Chart on Canada - Year-over-year growth 2022-2027 (%)
Exhibit 104: Data Table on Canada - Year-over-year growth 2022-2027 (%)
9.14 Market opportunity By Geographical Landscape
Exhibit 105: Market opportunity By Geographical Landscape ($ million)

10 Drivers, Challenges, and Trends

10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
Exhibit 106: Impact of drivers and challenges in 2022 and 2027
10.4 Market trends

11 Vendor Landscape

11.1 Overview
11.2 Vendor landscape
Exhibit 107: Overview on Criticality of inputs and Factors of differentiation
11.3 Landscape disruption
Exhibit 108: Overview on factors of disruption
11.4 Industry risks
Exhibit 109: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors covered
Exhibit 110: Vendors covered
12.2 Market positioning of vendors
Exhibit 111: Matrix on vendor position and classification
12.3 Ansaldo Energia Spa
Exhibit 112: Ansaldo Energia Spa - Overview
Exhibit 113: Ansaldo Energia Spa - Product / Service
Exhibit 114: Ansaldo Energia Spa - Key news
Exhibit 115: Ansaldo Energia Spa - Key offerings
12.4 Bharat Heavy Electricals Ltd.
Exhibit 116: Bharat Heavy Electricals Ltd. - Overview
Exhibit 117: Bharat Heavy Electricals Ltd. - Business segments
Exhibit 118: Bharat Heavy Electricals Ltd. - Key offerings
Exhibit 119: Bharat Heavy Electricals Ltd. - Segment focus
12.5 Capstone Green Energy Corp.
Exhibit 120: Capstone Green Energy Corp. - Overview
Exhibit 121: Capstone Green Energy Corp. - Business segments
Exhibit 122: Capstone Green Energy Corp. - Key news
Exhibit 123: Capstone Green Energy Corp. - Key offerings
Exhibit 124: Capstone Green Energy Corp. - Segment focus
12.6 Caterpillar Inc.
Exhibit 125: Caterpillar Inc. - Overview
Exhibit 126: Caterpillar Inc. - Business segments
Exhibit 127: Caterpillar Inc. - Key offerings
Exhibit 128: Caterpillar Inc. - Segment focus
12.7 Cryostar
Exhibit 129: Cryostar - Overview
Exhibit 130: Cryostar - Product / Service
Exhibit 131: Cryostar - Key offerings
12.8 Doosan Corp.
Exhibit 132: Doosan Corp. - Overview
Exhibit 133: Doosan Corp. - Business segments
Exhibit 134: Doosan Corp. - Key news
Exhibit 135: Doosan Corp. - Key offerings
Exhibit 136: Doosan Corp. - Segment focus
12.9 General Electric Co.
Exhibit 137: General Electric Co. - Overview
Exhibit 138: General Electric Co. - Business segments
Exhibit 139: General Electric Co. - Key news
Exhibit 140: General Electric Co. - Key offerings
Exhibit 141: General Electric Co. - Segment focus
12.10 Harbin Electric Co. Ltd.
Exhibit 142: Harbin Electric Co. Ltd. - Overview
Exhibit 143: Harbin Electric Co. Ltd. - Product / Service
Exhibit 144: Harbin Electric Co. Ltd. - Key offerings
12.11 IHI Corp.
Exhibit 145: IHI Corp. - Overview
Exhibit 146: IHI Corp. - Business segments
Exhibit 147: IHI Corp. - Key news
Exhibit 148: IHI Corp. - Key offerings
Exhibit 149: IHI Corp. - Segment focus
12.12 JSC The Ural Turbine Works
Exhibit 150: JSC The Ural Turbine Works - Overview
Exhibit 151: JSC The Ural Turbine Works - Product / Service
Exhibit 152: JSC The Ural Turbine Works - Key offerings
12.13 Kawasaki Heavy Industries Ltd.
Exhibit 153: Kawasaki Heavy Industries Ltd. - Overview
Exhibit 154: Kawasaki Heavy Industries Ltd. - Business segments
Exhibit 155: Kawasaki Heavy Industries Ltd. - Key news
Exhibit 156: Kawasaki Heavy Industries Ltd. - Key offerings
Exhibit 157: Kawasaki Heavy Industries Ltd. - Segment focus
12.14 MAN Energy Solutions SE
Exhibit 158: MAN Energy Solutions SE - Overview
Exhibit 159: MAN Energy Solutions SE - Product / Service
Exhibit 160: MAN Energy Solutions SE - Key offerings
12.15 Mitsubishi Heavy Industries Ltd.
Exhibit 161: Mitsubishi Heavy Industries Ltd. - Overview
Exhibit 162: Mitsubishi Heavy Industries Ltd. - Business segments
Exhibit 163: Mitsubishi Heavy Industries Ltd. - Key news
Exhibit 164: Mitsubishi Heavy Industries Ltd. - Key offerings
Exhibit 165: Mitsubishi Heavy Industries Ltd. - Segment focus
12.16 OPRA Technologies B.V.
Exhibit 166: OPRA Technologies B.V. - Overview
Exhibit 167: OPRA Technologies B.V. - Product / Service
Exhibit 168: OPRA Technologies B.V. - Key offerings
12.17 Siemens AG
Exhibit 169: Siemens AG - Overview
Exhibit 170: Siemens AG - Business segments
Exhibit 171: Siemens AG - Key news
Exhibit 172: Siemens AG - Key offerings
Exhibit 173: Siemens AG - Segment focus

13 Appendix

13.1 Scope of the report
13.2 Inclusions and exclusions checklist
Exhibit 174: Inclusions checklist
Exhibit 175: Exclusions checklist
13.3 Currency conversion rates for US$
Exhibit 176: Currency conversion rates for US$
13.4 Research methodology
Exhibit 177: Research methodology
Exhibit 178: Validation techniques employed for market sizing
Exhibit 179: Information sources
13.5 List of abbreviations
Exhibit 180: List of abbreviations