Global Industrial Gas Turbine Market - Segmented by Capacity, Type, Application, and Geography - Growth, Trends, and Forecast (2018 - 2023)

  • ID: 4542912
  • Report
  • Region: Global
  • 130 pages
  • Mordor Intelligence
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FEATURED COMPANIES

  • Ansaldo Energia S.P.A
  • Centrax Industries Ltd
  • General Electric
  • Man Diesel and Turbo SE
  • Siemens AG
  • Solar Turbines
  • MORE
Gas turbines are one of the most widely used technologies in power generation sector, and their usage dates back to 1939. The factors contributing to the growth of industrial gas turbine market include (but are not limited to) the growing demand for energy, fall in natural gas prices, the low environmental impact and increasing flexibility & efficiency of gas turbines. On the flipside, the factors that impede market growth include the growing importance of renewable energy sources, macroeconomic uncertainties, and currency devaluations, among other factors.

Low Capital Cost to Drive the Market

The power sector is increasingly becoming cost competitive, and the capital investments required for the development of power infrastructure is also high. Due to the high investment cost, the investment in the development of large coal-fired power stations is unlikely, in particular, those operating with supercritical or ultra-supercritical technology, as these technologies require significantly higher capital costs per MW than those for combined-cycle power plants. However, with a growing interest in gas-fired power generation, the demand for gas turbines, with their lower upfront costs, is expected to increase.

Asia-Pacific - Region with the Highest Market Share

Asia-Pacific accounts for the highest market share in 2017, on account of industrial expansion and infrastructure development. Also, most of the governments of emerging economies in Asia-Pacific, like India and China, have been supporting the development of oil & gas projects through policy level initiatives and supportive regulatory framework, which is expected to be a big boost for industrial gas turbine market in the region. Also, the manufacturing sector in Asia-Pacific region is expected to grow supported by the supportive government policies and regulations, i.e., Make in India initiative. Also, the development of liquefied natural gas (LNG) related infrastructure and increase in consumption of natural gas is expected to impact the industrial gas turbine market positively.

China - Among the Leading Countries in the Market

In 2015, China was the highest emitter of carbon dioxide, accounting for 27.3% of the global value. As a result, the Chinese government implemented certain policies and initiatives to promote the uptake of cleaner fuels, like natural gas and renewable energy sources. The power demand from China’s manufacturing and chemical sectors is a major factor for the country’s huge power requirement. Also, the country's target is to double the gas-fired power capacity from 56 GW in 2016 to 110 GW by 2020. Owing to the above factors the demand for industrial gas turbine market is expected to increase in China.

Key Developments in the Market

March 2018: Ecuador’s national oil company, Petroecuador, selected Siemens AG for procurement of an 8 MW SGT-300 gas turbine for power generation, to be used in the company’s Shushufindi refinery

The major players include - General Electric, Siemens AG, Mitsubishi Heavy Industries Ltd, Harbin Electric International Company Limited, Bharat Heavy Electricals Limited, Kawasaki Heavy Industries, Ltd., Ansaldo Energia S.P.A, Solar Turbines, Man Diesel and Turbo SE, MTU Aero Engines Ag/ Vericor Power Systems Llc., and Centrax Industries Ltd, among others.

Reasons to Purchase This Report
  • Current and future industrial gas turbines market outlook in the developed and emerging markets
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis
  • The segment that is expected to dominate the market
  • Regions that are expected to witness fastest growth during the forecast period
  • Identify the latest developments, market shares and strategies employed by the major market players
  • 3-month analyst support, along with the Market Estimate sheet (in excel).
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Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Ansaldo Energia S.P.A
  • Centrax Industries Ltd
  • General Electric
  • Man Diesel and Turbo SE
  • Siemens AG
  • Solar Turbines
  • MORE
1. Executive Summary

2. Research Methodology
2.1 Scope of the Report
2.2 Market Definition
2.3 Study Assumptions
2.4 Study Deliverables
2.5 Research Phases

3. Market Overview
3.1 Introduction
3.2 Market Size and Demand Forecast until 2023 (in USD billion)
3.3 Natural Gas Consumption Forecast until 2023
3.4 Recent Trends and Developments
3.5 Government Policies & Regulations

4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities

5. Supply Chain Analysis

6. Industry Attractiveness - Porter’s Five Forces Analysis
6.1 Bargaining Power of Suppliers
6.2 Bargaining Power of Consumers
6.3 Threat of New Entrants
6.4 Threat of Substitute Products and Services
6.5 Intensity of Competitive Rivalry
7. Market Segmentation and Analysis (Introduction, Market Size, and Demand Forecast until 2023)
7.1 By Capacity
7.1.1 Between 1 to 40 MW
7.1.2 Between 41 to 120 MW
7.1.3 Between 121 to 300 MW
7.1.4 More Than 300 MW
7.2 By Type
7.2.1 Combined Cycle
7.2.2 Simple Cycle
7.3 By Application
7.3.1 Power
7.3.2 Oil & Gas
7.3.3 Others

8. Regional Market Analysis (Introduction, Market Size, and Demand Forecast until 2023)
8.1 North America
8.1.1 United States
8.1.2 Canada
8.1.3 Rest of North America
8.2 Asia-Pacific
8.2.1 China
8.2.2 India
8.2.3 Japan
8.2.4 Rest of Asia Pacific
8.3 South America
8.3.1 Brazil
8.3.2 Argentina
8.3.3 Rest of South America
8.4 Middle East & Africa
8.4.1 Saudi Arabia
8.4.2 United Arab Emirates
8.4.3 Qatar
8.4.4 Nigeria
8.4.5 Rest of Middle East & Africa
8.5 Europe
8.5.1 United Kingdom
8.5.2 France
8.5.3 Germany
8.5.4 Switzerland
8.5.5 Rest of Europe

9. Key Company Analysis* (Overview, Products & Services, Financials**, Recent Development, and Analyst View)
9.1 General Electric
9.2 Siemens AG
9.3 Mitsubishi Heavy Industries Ltd
9.4 Harbin Electric International Company Limited
9.5 Bharat Heavy Electricals Limited
9.6 Kawasaki Heavy Industries, Ltd.
9.7 Ansaldo Energia S.P.A
9.8 Solar Turbines
9.9 Man Diesel and Turbo SE
9.10 MTU Aero Engines Ag / Vericor Power Systems Llc.
9.11 Centrax Industries Ltd

*List not exhaustive

10. Competitive Landscape
10.1 Mergers & Acquisitions
10.2 Joint Ventures, Collaborations, and Agreements
10.3 Market Share Analysis
10.4 Strategies Adopted by Leading Players
11. Future of the Market
12. Appendix
12.1 Contact Us
12.2 Disclaimer
**Subject to availability to public domain
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  • General Electric
  • Siemens AG
  • Mitsubishi Heavy Industries Ltd
  • Harbin Electric International Company Limited
  • Bharat Heavy Electricals Limited
  • Kawasaki Heavy Industries Ltd.
  • Ansaldo Energia S.P.A
  • Solar Turbines
  • Man Diesel and Turbo SE
  • MTU Aero Engines Ag / Vericor Power Systems Llc.
  • Centrax Industries Ltd
Note: Product cover images may vary from those shown
5 of 4
Note: Product cover images may vary from those shown
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