• Blog
  • Industrial Gas Turbine Market Report

    Industrial Gas Turbine Market Report

    Industrial Gas Turbine Market Report
    Report code - SRCE301 Delivery - 2 Weeks
    Get Free Sample |
    Play Audio
    Listen
    Industrial Gas Turbine Market Size, Share, Trend, Forecast, & Industry Analysis &ndash See more...

    Impact of COVID-19 on Industrial Gas Turbine Market

    Covid-19 has impacted the market dynamics, competition, and global...

    See more...

    Impact of COVID-19 on Industrial Gas Turbine Market

    Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Market Insights

    Industrial Gas Turbine Market is likely to witness a CAGR of 1.8% during the forecast period. Shifting inclination toward energy optimization, renewable energy integration, and restructuring of electrical infrastructure are some of the key factors fueling the growth of the market over the forecast period.

    Industrial Gas Turbine Market – Snapshot

    Growth

    1.8% for the next five years

    Capacity Type

    ≤70 MW

    Major Product Type

    Aeroderivative

    Leading Technology Type

    Open Cycle

    Dominant Application Type

    Power Generation

    Region with the highest demand

    Asia-Pacific

    Key Players

    Ansaldo Energia S.P.A., Bharat Heavy Electricals Limited, Kawasaki Heavy Industries Ltd., MAN Energy Solutions SE, Mitsubishi Hitachi Power Systems, Ltd., Opra Turbines B.V., Siemens, UEC Saturn, Wärtsilä, and Zorya-Mashproekt.

    Segment Analysis

    Industrial-Gas-Turbine-Market-Dominant-Segments

    Wish to get a free sample? Register Here

    Industrial Gas Turbine Market Share: By Capacity Type

    Based on the capacity type, the market is segmented as ≤70 MW, 70-300 MW, and ≥300 MW. The ≤70 MW segment is estimated to account for the major share of the market during the forecast period on account of its wide range of applications across power generating stations, mechanical drive coupled with oil & gas and other industrial processes. Similarly, 70-300 MW capacity is also estimated to witness significant growth in the market owing to the extensive applications across small-scale generating plants and process industries, fueling the segment’s growth during the forecast period.

    Industrial Gas Turbine Market Share: By Product Type

    Based on the product type, the market is segmented as aeroderivative and heavy duty. The aeroderivative product type is estimated to account for the major share of the market on account of the availability of highly flexible and mobile technologies. Moreover, the heavy duty segment is also estimated to witness significant growth in the market owing to the growing number of manufacturing plants along with the integration of large-scale economic zones across the emerging economies.

    Industrial Gas Turbine Market Share: By Technology Type

    Based on the technology type, the market is segmented as open cycle and combined cycle. The open cycle segment is estimated to be the leading technology type in the market during the forecast period on account of its various beneficial features, such as compact size, lower warm up time, lightweight, operational versatility, and less dependency on cooling water.

    Industrial Gas Turbine Market Share: By Application Type

    Based on the application type, the market is segmented as power generation, oil & gas, and other manufacturing. Power generation is estimated to be the dominating segment of the market on account of increasing focus toward the refurbishment of traditional steam and coal-fired power stations with natural gas or any other renewable energy power generating stations, fueling the overall industry growth over the forecast period.

    Industrial Gas Turbine Market Share: By Region

    In terms of regions, Asia-Pacific is estimated to be the leading region in the market during the forecast period owing to its operational flexibility offered by gas fired plants as compared to coal-fired plants and modernization of infrastructure by investing in gas fired distributed energy. Further, North America is also estimated to witness significant growth in the market owing to increased focus on combined cycle gas turbine power plant capacity additions, fueling the regional market growth over the forecast period.

    Industrial-Gas-Turbine-Market-By-Region

    Know which region offers best growth opportunities. Register Here

    Market Scope & Segmentation

    Industrial gas turbine is basically the combustion of the engine, normally used for generating mechanichal energy which helps the generator in producing electrical energy.

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

    Industrial Gas Turbine Market Research Report - Features

    Market Segmentation

    5

    Regions Covered

    4

    Countries/Sub-Regions Covered

    17

    No. of Figures & Tables

    >150

    Company Profiles

    10

     

    The industrial gas turbine market is segmented into the following categories.

    Industrial Gas Turbine Market Size, Share, & Forecast, by Capacity Type:

    • ≤70 MW (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • 70-300 MW (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • ≥300 MW (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Industrial Gas Turbine Market Size, Share, & Forecast, by Product Type:

    • Aeroderivative (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Heavy Duty (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Industrial Gas Turbine Market Size, Share, & Forecast, by Technology Type:

    • Open Cycle (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Combined Cycle (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Industrial Gas Turbine Market Size, Share, & Forecast, by Application Type:

    • Power Generation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Oil & Gas (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Other Manufacturing (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Industrial Gas Turbine Market Size, Share, & Forecast, by Region:

    • North America (Country Analysis: the USA, Canada, and Mexico) 
    • Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

    Industrial-Gas-Turbine-Market-Segmentation

    Want to know the most attractive market segments? Register Here

    Key Players

    Some of the key players in the industrial gas turbine market are-

    • Ansaldo Energia S.P.A.
    • Bharat Heavy Electricals Limited
    • Kawasaki Heavy Industries Ltd.
    • MAN Energy Solutions SE
    • Mitsubishi Hitachi Power Systems, Ltd.
    • Opra Turbines B.V.
    • Siemens
    • UEC Saturn
    • Wärtsilä
    • Zorya-Mashproekt.

    Research Methodology

    This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
    • Market trend and forecast analysis
    • Market segment trend and forecast
    • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities
    • Emerging trends
    • Strategic growth opportunities for the existing and new players
    • Key success factors

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Market Segmentation

    • Current market segmentation of any one of the product types by application type.  

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected]

    Frequently Asked Questions (FAQs)

    The industrial gas turbine market is expected to witness a CAGR of 1.8% in the foreseeable future.

    Ansaldo Energia S.P.A., Bharat Heavy Electricals Limited, Kawasaki Heavy Industries Ltd., MAN Energy Solutions SE, Mitsubishi Hitachi Power Systems, Ltd., Opra Turbines B.V., Siemens, UEC Saturn, Wrtsil, and Zorya-Mashproekt are among the key players in the industrial gas turbine market.

    Asia-pacific is expected to be the leading industrial gas turbine market during the forecast period.

    Power generation is expected to remain dominant application type in the industrial gas turbine market in the coming years.

    The aeroderivative product type is expected to account for the major share in the industrial gas turbine market during the next five years.

    Shifting inclination toward energy optimization, renewable energy integration, and restructuring of electrical infrastructure are the factors driving the growth of industrial gas turbine market.

    •