Gas Turbines Market by Technology, Rating Capacity, Design Type, Application and Region - Global Forecast to 2022

  • ID: 4416243
  • Report
  • 163 pages
  • Markets and Markets
1 of 6
Gas Turbines Market is Estimated to be USD 17.51 Billion in 2017 and is Projected to Reach USD 20.66 Billion by 2022

FEATURED COMPANIES

  • Ansaldo
  • Centrax
  • Harbin Electric
  • MAN Diesel
  • OPRA
  • Solar Turbines
  • MORE

“The gas turbines market is projected to grow at a CAGR of 3.36% from 2017 to 2022.”
The gas turbines market is estimated to be USD 17.51 billion in 2017 and is projected to reach USD 20.66 billion by 2022, at a CAGR of 3.36%, from 2017 to 2022. The increasing demand for natural gas-fired power plants, rising demand for electricity, reduction in emissions of carbon dioxide, and availability of efficient power technology are driving the gas turbines market. Natural gas is the cleanliest source of fossil fuel used to support intermittent generation from renewable sources. Thus, an increase in the demand for natural gas power plants is expected as governments implement strict norms for the emission of carbon dioxide. The shale gas boom in North America and decommissioning of nuclear plants in Europe are likely to boost the demand for gas turbines in these regions. The demand for gas turbines in the Middle East & Africa, Latin America, and Asia Pacific is expected to be influenced by the new gas-fired power plants and the upgrade of old existing thermal power plants in the regions. Natural gas price volatility and natural gas infrastructure concerns are the major restraining factors for the gas turbines market.

“The heavy duty design type segment is expected to grow at the highest CAGR, from 2017 to 2022.”
The heavy duty (frame) type gas turbines segment is expected to be the largest market, accounting for more than two-thirds of the total gas turbines market. The demand for gas turbines for power generation is expected to increase due to stringent emissions standards and high efficiency standards. Combined cycle plants with heavy duty turbines enable high flexibility and low emissions even in part load operations. Thus, with an increase in the number of gas-fired power plants, the demand for heavy duty gas turbines is expected to increase in the power generation sector.

“The above 300 MW rated capacity segment is expected to be the largest market.”
The above 300 MW rated capacity segment is estimated to account for the largest market share during the forecast period. GE and Siemens are the only providers of turbines of this capacity in the global market. The market for this segment is expected to be driven by the new combined cycle power plants that are to come up in Asia Pacific and North America. The replacement of old coal-fired power generation capacity in the US with new large capacity gas-fired power plants would also drive the market.

“The market in Asia Pacific is expected to grow at the highest CAGR from 2017 to 2022.”
The market in Asia Pacific is currently the largest for gas turbines, followed by the North American and European markets. The Japanese market accounted for a majority share of the Asia Pacific market in 2016 while China is projected to grow at the highest CAGR, from 2017 to 2022 The slowdown in the nuclear power industry due to the Fukushima incident and the continuing replacement of nuclear and aging coal plants with gas-fired ones would continue to drive the Japanese gas turbines market. In developing countries such as China and India, the demand for gas turbines is spurred on by factors such as the increasing demand for electricity fueled by high levels of urbanization, industrialization, and infrastructural developments and the subsequent investments in developing new large gas-fired combined cycle power generation.

Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects.

The distribution of primary interviews is as follows:

  • By Company Type: Tier 1- 40%, Tier 2- 35%, Tier 3- 25%
  • By Designation: C-Level- 75%, Manager Level- 25%
  • By Region: Asia Pacific- 40%, Europe- 25%, North America- 15%, Middle East & Africa- 15%, Latin America- 10%

The tier of the companies has been defined on the basis of their total revenue, as of 2016: Tier 1 > USD 5 billion, Tier 2 = < From USD 5 billion to USD 1 billion, and Tier 3 < USD 1 billion
Source: Industry Experts and MarketsandMarkets Analysis

The leading players in the gas turbines market have been profiled with their recent developments and other strategic activities. These include GE (US), Siemens (Germany), MHPS (Japan), and Ansaldo (Italy).

Research Coverage:
From an insight perspective, this research report has focused on various levels of analysis, namely industry analysis (industry trends), market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape, emerging and high-growth segments of the gas turbines market, high-growth regions, and market drivers, restraints, and opportunities.

The report provides insights on the following pointers:
Market Penetration: Comprehensive information on products and integrated solutions and services offered by the top players in the global gas turbines market

Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the gas turbines market.

Market Development: Comprehensive information about lucrative emerging markets—the report analyzes the markets for gas turbines across regions

Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the global gas turbines market

Competitive Assessment: In-depth vendor dive analysis of all the key players and strategies, products, and manufacturing capabilities of the leading players in the global gas turbines market

READ MORE
Note: Product cover images may vary from those shown
2 of 6

FEATURED COMPANIES

  • Ansaldo
  • Centrax
  • Harbin Electric
  • MAN Diesel
  • OPRA
  • Solar Turbines
  • MORE

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Markets Covered
1.3.1 Years Considered for the Study
1.4 Currency
1.5 Limitations
1.6 Stakeholders

2 Research Methodology
2.1 Introduction
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primary Interviews
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Market Breakdown & Data Triangulation
2.4 Research Assumptions
2.4.1 Assumptions

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Gas Turbines Market, 2017–2022
4.2 Gas Turbines Market, By Region, 2016
4.3 Gas Turbines Market, By Design Type, 2022
4.4 Gas Turbines Market, By Rated Capacity, 2017 & 2022
4.5 Gas Turbines Market, By Application, 2017 & 2022

5 Market Overview
5.1 Introduction
5.1.1 Drivers
5.1.1.1 Increasing Demand for Natural Gas-Fired Power Plants
5.1.1.2 Rising Demand for Electricity
5.1.1.3 Efficient Power Generation Technology
5.1.1.4 Reduction in Emission of Carbon Dioxide
5.1.1.5 Impact of Shale Gas
5.1.2 Restraints
5.1.2.1 Natural Gas Price Volatility
5.1.2.2 Natural Gas Infrastructure Concerns
5.1.3 Opportunities
5.1.3.1 Increased Trend of Distributed Power Generation
5.1.3.2 Replacement of Phased Out Nuclear & Coal Plants
5.1.4 Challenges
5.1.4.1 Shifting Focus Toward Renewable Energy

6 Gas Turbines Market, By Technology
6.1 Introduction
6.2 Open Cycle
6.3 Combined Cycle

7 Gas Turbines Market, By Application
7.1 Introduction
7.2 Power Generation
7.3 Oil & Gas
7.4 Other Industrial Applications

8 Gas Turbines Market, By Design Type
8.1 Introduction
8.2 Heavy Duty (Frame) Type
8.3 Aeroderivative Type

9 Gas Turbines Market, By Rated Capacity
9.1 Introduction
9.2 Above 300 MW
9.3 120–300 MW
9.4 40–120 MW
9.5 Less Than 40 MW

10 Gas Turbines Market, By Region
10.1 Introduction
10.2 Asia Pacific
10.2.1 China
10.2.2 India
10.2.3 Australia
10.2.4 Japan
10.2.5 South Korea
10.2.6 Indonesia
10.2.7 Rest of Asia Pacific
10.3 North America
10.3.1 US
10.3.2 Canada
10.4 Latin America
10.4.1 Mexico
10.4.2 Argentina
10.4.3 Brazil
10.4.4 Bolivia
10.4.5 Rest of Latin America
10.5 Europe
10.5.1 Russia
10.5.2 Germany
10.5.3 UK
10.5.4 Italy
10.5.5 France
10.5.6 Rest of Europe
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Iran
10.6.4 Egypt
10.6.5 Rest of the Middle East & Africa

11 Competitive Landscape
11.1 Introduction
11.2 Market Ranking Analysis
11.2.1 Global Market Scenario
11.3 Competitive Situation & Trends

12 Company Profiles
12.1 Kawasaki Heavy Industries
12.2 Siemens
12.3 GE
12.4 MHPS
12.5 Ansaldo
12.6 Harbin Electric
12.7 OPRA
12.8 MAN Diesel
12.9 Solar Turbines
12.10 Vericor Power
12.11 BHEL
12.12 Centrax
12.13 Zorya

*Details on Overview, Strength of Product Portfolio, Business Strategy Excellence, Recent Developments, MnM View Might Not Be Captured in Case of Unlisted Companies.

13 Appendix
13.1 Insights of Industry Experts
13.2 Discussion Guide
13.3 Knowledge Store: Subscription Portal
13.4 Introducing RT: Real Time Market Intelligence
13.5 Available Customizations
13.6 Related Reports
13.7 Author Details

List of Tables (67 Tables)

Table 1 Gas Turbines Market Snapshot
Table 2 Gas Turbines Market Size, By Technology, 2015–2022 (USD Billion)
Table 3 Open Cycle: Gas Turbines Market Size, By Region, 2015–2022 (USD Million)
Table 4 Combined Cycle: Gas Turbines Market Size, By Region, 2015–2022 (USD Million)
Table 5 Gas Turbines Market Size, By Application, 2015–2022 (USD Billion)
Table 6 Power Generation: Gas Turbines Market Size, By Region, 2015–2022 (USD Million)
Table 7 Oil & Gas: Gas Turbines Market Size, By Region, 2015–2022 (USD Million)
Table 8 Other Industrial: Gas Turbines Market Size, By Region, 2015–2022 (USD Million)
Table 9 Gas Turbines Market Size, By Design Type, 2015–2022 (USD Billion)
Table 10 Heavy Duty: Gas Turbines Market Size, By Region, 2015–2022 (USD Million)
Table 11 Aeroderivative: Gas Turbines Market Size, By Region, 2015–2022 (USD Million)
Table 12 Gas Turbines Market Size, By Rated Capacity, 2015–2022 (USD Billion)
Table 13 Above 300 MW: Gas Turbines Market Size, By Region, 2015–2022 (USD Million)
Table 14 120–300 MW: Gas Turbines Market Size, By Region, 2015–2022 (USD Million)
Table 15 40–120 MW: Gas Turbines Market Size, By Region, 2015–2022 (USD Million)
Table 16 Less Than 40 MW: Gas Turbines Market Size, By Region, 2015–2022 (USD Million)
Table 17 Gas Turbines Market Size, By Region, 2015–2022 (USD Billion)
Table 18 Asia Pacific: Gas Turbines Market Size, By Technology, 2015–2022 (USD Million)
Table 19 Asia Pacific: Gas Turbines Market Size, By Application, 2015–2022 (USD Million)
Table 20 Asia Pacific: Gas Turbines Size, By Rated Capacity, 2015–2022 (USD Million)
Table 21 Asia Pacific: Gas Turbines Market Size, By Design Type, 2015–2022 (USD Million)
Table 22 Asia Pacific: Gas Turbines Market Size, By Country, 2015–2022 (Million)
Table 23 China: Gas Turbines Market Size, By Technology, 2015–2022 (USD Million)
Table 24 India: Gas Turbines Market Size, By Technology, 2015–2022 (USD Million)
Table 25 Australia: Gas Turbines Market Size, By Technology, 2015–2022 (USD Million)
Table 26 Japan: Gas Turbines Market Size, By Technology, 2015–2022 (USD Million)
Table 27 South Korea: Gas Turbines Market Size, By Technology, 2015–2022 (USD Million)
Table 28 Indonesia: Gas Turbines Market Size, By Technology, 2015–2022 (USD Million)
Table 29 Rest of Asia Pacific: Gas Turbines Market Size, By Technology, 2015–2022 (USD Million)
Table 30 North America: Gas Turbines Market Size, By Technology, 2015–2022 (USD Million)
Table 31 North America: Gas Turbines Market Size, By Application, 2015–2022 (USD Million)
Table 32 North America: Gas Turbines Market Size, By Rated Capacity, 2015–2022 (USD Million)
Table 33 North America: Gas Turbines Market Size, By Design, 2015–2022 (USD Million)
Table 34 North America: Gas Turbines Market Size, By Country, 2015–2022 (USD Million)
Table 35 US: Gas Turbines Market Size, By Technology, 2015–2022 (USD Million)
Table 36 Canada: Gas Turbines Market Size, By Technology, 2015–2022 (USD Million)
Table 37 Latin America: Gas Turbines Market Size, By Technology, 2015–2022 (USD Million)
Table 38 Latin America: Gas Turbines Market Size, By Application, 2015–2022 (USD Million)
Table 39 Latin America: Gas Turbines Market Size, By Rated Capacity, 2015–2022 (USD Million)
Table 40 Latin America: Gas Turbines Market Size, By Design, 2015–2022 (USD Million)
Table 41 Latin America: Gas Turbines Market Size, By Country, 2015–2022 (USD Million)
Table 42 Mexico: Gas Turbines Market Size, By Technology, 2015–2022 (USD Million)
Table 43 Argentina: Gas Turbines Market Size, By Technology, 2015–2022 (USD Million)
Table 44 Brazil: Gas Turbines Market Size, By Technology, 2015–2022 (USD Million)
Table 45 Bolivia: Gas Turbines Market Size, By Technology, 2015–2022 (USD Million)
Table 46 Rest of Latin America: Gas Turbines Market Size, By Technology, 2015–2022 (USD Million)
Table 47 Europe: Gas Turbines Market Size, By Technology, 2015–2022 (USD Million)
Table 48 Europe: Gas Turbines Market Size, By Application, 2015–2022 (USD Million)
Table 49 Europe: Gas Turbines Market Size, By Rated Capacity, 2015–2022 (USD Million)
Table 50 Europe: Gas Turbines Market Size, By Design, 2015–2022 (USD Million)
Table 51 Europe: Gas Turbines Market Size, By Country, 2015–2022 (USD Million)
Table 52 Russia: Gas Turbines Market Size, By Technology, 2015–2022 (USD Million)
Table 53 Germany: Gas Turbines Market Size, By Technology, 2015–2022 (USD Million)
Table 54 UK: Gas Turbines Market Size, By Technology, 2015–2022 (USD Million)
Table 55 Italy: Gas Turbines Market Size, By Technology, 2015–2022 (USD Million)
Table 56 France: Gas Turbines Market Size, By Technology, 2015–2022 (USD Million)
Table 57 Rest of Europe: Gas Turbines Market Size, By Technology, 2015–2022 (USD Million)
Table 58 Middle East & Africa: Gas Turbines Market Size, By Technology, 2015–2022 (USD Million)
Table 59 Middle East & Africa: Gas Turbines Market Size, By Application, 2015–2022 (USD Million)
Table 60 Middle East & Africa: Gas Turbines Market Size, By Rated Capacity, 2015–2022 (USD Million)
Table 61 Middle East & Africa: Gas Turbines Market Size, By Design Type, 2015–2022 (USD Million)
Table 62 Middle East & Africa: Gas Turbines Market Size, By Country, 2015–2022 (USD Million)
Table 63 Saudi Arabia: Gas Turbines Market Size, By Technology, 2015–2022 (USD Million)
Table 64 UAE: Gas Turbines Market Size, By Technology, 2015–2022 (USD Million)
Table 65 Iran: Gas Turbines Market Size, By Technology, 2015–2022 (USD Million)
Table 66 Egypt: Gas Turbines Market Size, By Technology, 2015–2022 (USD Million)
Table 67 Rest of the Middle East & Africa: Gas Turbines Market Size, By Technology, 2015–2022 (USD Million)

List of Figures (31 Figures)

Figure 1 Gas Turbines Market Segmentation
Figure 2 Gas Turbines Market: Research Design
Figure 3 Breakdown of Primary Interviews: By Company Type, Designation, & Region
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
Figure 5 Market Size Estimation Methodology: Top-Down Approach
Figure 6 Gas Turbines Market: Market Estimation Approach & Data Triangulation Methodology
Figure 7 The Asia Pacific Market Dominated the Gas Turbines Market By Region in 2016
Figure 8 The Combined Cycle Segment is Expected to Lead the Gas Turbines Market, By Technology, During the Forecast Period
Figure 9 Power Generation Was the Largest Application Segment for Gas Turbines in 2016
Figure 10 Gas Turbines of Above 300 MW Rating Capacity are Expected to Dominate the Market During the Forecast Period
Figure 11 Increasing Electricity Demand is Expected to Drive the Gas Turbines Market During the Forecast Period
Figure 12 The Middle East & Africa Market is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 13 The Heavy Duty Frame Design is Expected to Account for the Larger Share During the Forecast Period
Figure 14 The Above 300 MW Segment is Expected to Lead the Gas Turbines Market, By Rated Capacity, During the Forecast Period
Figure 15 The Power Generation Segment is Expected to Lead the Gas Turbines Market, By Application, During the Forecast Period
Figure 16 Market Dynamics for the Gas Turbines Market
Figure 17 Gas Turbines Market Share (Value), By Technology, 2016
Figure 18 Asia Pacific to Dominate the Power Generation and Oil & Gas Applications in 2016
Figure 19 Gas Turbines Market Share (Value), By Design Type, 2017
Figure 20 Gas Turbines Market Share (Value), By Rated Capacity, 2016
Figure 21 Regional Snapshot: Rapid Growth in Developing Markets
Figure 22 Asia Pacific Gas Turbines Market Snapshot
Figure 23 North American Gas Turbines Market Snapshot
Figure 24 Companies Adopted Contracts & Agreements to Capture A Share of the Market, 2014–2017
Figure 25 Market Ranking, Gas Turbines Market 2016
Figure 26 Battle for Market Share: Contracts & Agreements Was the Key Strategy, 2014–2017
Figure 27 Kawasaki Heavy Industries (Kawasaki Ltd): Company Snapshot
Figure 28 Siemens: Company Snapshot
Figure 29 GE: Company Snapshot
Figure 30 Ansaldo: Company Snapshot
Figure 31 BHEL: Company Snapshot

Note: Product cover images may vary from those shown
3 of 6

Loading
LOADING...

4 of 6
5 of 6
  • BHEL
  • Centrax
  • Vericor Power
  • Zorya
  • Ansaldo
  • GE
  • Harbin Electric
  • Kawasaki Heavy Industries
  • MAN Diesel
  • MHPS
  • OPRA
  • Siemens
  • Solar Turbines
Note: Product cover images may vary from those shown
6 of 6
Note: Product cover images may vary from those shown
Adroll
adroll