Global Gas Turbine Market Outlook to 2025

Gas turbine market is growing primarily due to the increasing availability and use of natural gas in the power sector, replacement of ageing coal power plants with gas turbine power plants, environmental concerns, and the growing need for flexible power generating assets.

With the outbreak of the COVID-19 pandemic, there is a sharp pullback in economic activity due to mandatory lockdowns and other containment measures. According to the IMF World Economic Outlook published in June 2020, the world economy is set to post a -4.9% GDP growth rate in 2020. That will be a downgrade of 8.2% from January 2020. The impact of COVID-19 pandemic on the energy, automobile, and battery industries has already been profound.

Due to the challenges from the COVID-19 pandemic and the fall in oil prices, new power project investments are to be delayed due to budgetary constraints and economic uncertainty.

Our Global Gas Turbine Market report provides deep insight into the current and future state of gas turbine market across various regions. Also, the study comprehensively analyzes the Gas turbine market by segmenting it based on geography, by power rating (less than 30 MW, 30 MW to 100 MW, and above 10 MW), and by application (power, oil & gas and others). The report examines the market drivers and restraints that are influencing the growth in detail. The study also covers emerging market trends, developments, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape section with profiles of major companies along with their estimated market shares.