Middle East and Africa Gas Turbine Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Technology, Capacity, and Application

Power Generation Segment to Dominate Middle East and Africa Gas Turbine Market during 2019-2027

According to a new market research study on “Middle East and Africa Gas Turbine Market to 2027 - COVID-19 Impact and Regional Analysis and Forecast by Application, Capacity and Technology” is expected to reach US$5006.04 million by 2027 from US$3383.00 million in 2018. The market is estimated to grow at a CAGR of 4.5% from 2019 to 2027. The report provides trends prevailing in the Middle East and Africa gas turbine market along with the drivers and restraints pertaining to the market growth. Reducing carbon footprints by harnessing natural gas instead of coal and nuclear and mounting demand for electricity due to rapid urbanization and industrialization are the major factors driving the growth of the Middle East and Africa gas turbine market. However, Uncertain natural gas supply chain for power generation hinders the growth of the Middle East and Africa gas turbine market.

The Middle East and Africa gas turbine market is segmented into technology, capacity, application and country. Based on technology, the market is segmented into open cycle and combined cycle. In 2019, the combined cycle segment held the largest share Middle East and Africa gas turbine market. Based on capacity the Middle East and Africa gas turbine market is divided into below 40 MW,40-120 MW,120-300 MW and above 300 MW. Above 300 MW is expected to the fastest growing segment over the forecast period. Similarly, based on application, the market is bifurcated into power generation, oil & gas, industrial. The Power generation segment contributed a substantial share in 2018.

The consequences of the outbreak of COVID-19 in Middle East and Africa is hampering the economic stability, anticipated revenue generation, and growth opportunities. Iran is the worst-hit country followed by Saudi Arabia and South Africa in Middle East and Africa. The energy and power industry is one of the major sectors suffering from severe disruptions such as supply chain breaks, technology events cancellations, office shutdowns, etc. as a result of this outbreak. For instance, the already bleak economic conditions, in which consumer confidence has been weakening for the past few years, driven by sluggish GDP growth, regional turbulence, and oil price declines are expected to worsen the situation. The governments across Middle East and Africa are taking various containment Middle East and Africasures to control the spread of the virus. However, such Middle East and Africasures will ultimately hamper the anticipated revenue generation and growth opportunities in this region. All these factors are anticipated to negatively affect the energy and power industry and thus act as a restraining factor for the growth of various markets related to this industry in the coming months.

Ansaldo Energia S.p.A, General Electric (GE) Company, Harbin Electric Company Limited, BHEL, Kawasaki Heavy Industries Ltd., and Wärtsilä Corporation are among the leading companies in the Middle East and Africa gas turbine market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Based on an EPC contract, Ansaldo Energia S.p.A will manage the executive design phase, the supply of the gas turbine, generators and set-up transformers, heat recovery vapour generator, the implementation of the civil works, the assembly and supply of ancillary electrical and mechanical installations.

The report segments the Middle East and Africa Gas Turbine Market as follows:

MEA Gas Turbine Market - By Technology

• Open cycle
• Combined Cycle

MEA Gas Turbine Market - By Capacity

• Below 40 MW
• 40-120 MW
• 120-300 MW
• Above 300 MW

MEA Gas Turbine Market - By Application

• Power Generation
• Oil and Gas
• Industrial

MEA Gas Turbine Market - By Country

• South Africa
• Saudi Arabia
• UAE
• Rest of MEA

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