Asia Pacfic Gas Turbine Market Dynamics and Trends by 2027

Historic Data: 2016-2017 | Base Year: 2018 | Forecast Period: 2019-2027

Asia Pacfic Gas Turbine Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Technology (Open Cycle and Combined Cycle), Capacity (Below 40 MW, 40-120 MW, 120-300 MW, and Above 300 MW), and Application (Power Generation, Oil and Gas, and Industrial)

Report Date : Aug 2020
Report Code : TIPRE00012819

Category : Energy and Power
Status : Published

Available Report Formats :
No. of Pages : 92

Analysis Strategic Insights Market Drivers Regional Insights Report Scope Recent Developments FAQs

The gas turbine market in Asia Pacfic is expected to grow from US$ 4031.3 Mn in 2018 to US$ 6154.5 Mn by 2027; it is estimated to grow at a CAGR of 4.9% from 2019 to 2027.

The China, Australia, Japan, India and South Korea are major economies in APAC. To lower carbon emission by harnessing gas-fired turbines are faster, more efficient, and less polluting than coal-fired and nuclear power plants. Gas turbines make use of natural gas, light gas, and bioethanol for its working. An increase demand for natural gas fired power plants, rising concerns regarding emissions released by GHG and stringent government norms for the adoption of gas-fired turbines have stimulated the demand for gas turbines. Thus, with need and swift towards cleaner energy source is expected to create a significant demand for gas turbine in the coming years, which is further anticipated to drive the market in APAC. Furthermore, the COVID-19 is anticipated to cause a loss of more than 3 Billion in the Asia Pacific region. The consequence and impact can be even worse and totally depends on the spread of the virus. The government of Asia Pacific is taking possible steps to reduce its effects by announcing lockdown, and thus, impact the revenue generated by the market. The Airports Council International (ACI) Asia-Pacific warned that the prolonged duration of the COVID-19 (COVID-19) outbreak would drastically impact the region’s airports’ connectivity and economic sustainability, significantly restricting them from achieving previously forecasted growth prospects. Such closures are anticipated to negatively impact market growth in the coming period. Until now, China has the highest number of COVID -19 confirmed cases.

A gas turbine is also referred to as the engine at the heart of the power plant that works for the production of electric current or power generation. A gas turbine converts the liquid fuels or natural gas that is fed to it, into mechanical energy. This energy then drives the generator that produces electrical energy. The electrical energy is then supplied to homes and businesses through the power lines. Various fuel such as natural gas, fuel oils, and synthetic fuels are used in gas turbines for power generation. The major players in the Asia Pacific gas turbine market are focused on strategies such as collaborations, business strategies, and product launches to increase the geographical presence and consumer base globally. For instance, in November 2019, GE Announces planned to invest up to $60Mn to create new global repair engineering and development center in Singapore for its industry-leading ha gas turbines. With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the gas turbine market. The APAC gas turbine market is expected to grow at a good CAGR during the forecast period.

This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.

APAC Gas Turbine Market Segmentation

By Technology

Open Cycle
Combined Cycle

By Capacity

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

By Application

Power Generation
Oil and Gas
Industrial

By Country

China
Australia
Japan
India
South Korea
Rest of APAC

APAC Gas Turbine Market-Companies Mentioned

Ansaldo Energia S.p.A.
General Electric Company
Harbin Electric Company Limited
Kawasaki Heavy Industries, Ltd.
Man Energy Solutions
Mitsubishi Hitachi Power Systems, Ltd.
Siemens AG
Solar Turbines Incorporated
Wärtsilä Corporation
Bharat Heavy Electricals Limited (BHEL)

Asia Pacfic Gas Turbine Report Scope

Report Attribute	Details
Market size in 2018	US$ 4031.3 Million
Market Size by 2027	US$ 6154.5 Million
Global CAGR (2019 - 2027)	4.9%
Historical Data	2016-2017
Forecast period	2019-2027
Segments Covered	By Technology Open Cycle and Combined Cycle By Capacity Below 40 MW 40-120 MW 120-300 MW Above 300 MW By Application Power Generation Oil and Gas Industrial
Regions and Countries Covered	Asia-Pacific China India Japan Australia Rest of Asia-Pacific
Market leaders and key company profiles	Ansaldo Energia S.p.A. General Electric Company Harbin Electric Company Limited Kawasaki Heavy Industries, Ltd. Man Energy Solutions Mitsubishi Hitachi Power Systems, Ltd. Siemens AG Solar Turbines Incorporated W

Research Manager

Nivedita Upadhyay

Manager,
Market Research & Consulting

Nivedita is an accomplished research professional with over 9 years of experience in Market Research and Business Consulting. Currently serving as a Project Manager in the ICT domain at The Insight Partners, she brings deep expertise in managing and executing Syndicated, Custom, Subscription-based, and Consulting research assignments across diverse technology sectors.

With a proven track record of delivering data-driven analysis and actionable insights, Nivedita has been a key contributor to several critical projects. Her work involves end-to-end project execution—right from understanding client objectives, analyzing market trends, to deriving strategic recommendations. She has collaborated extensively with leading ICT companies, helping them identify market opportunities and navigate industry shifts.

Nivedita holds an MBA in Management from IMS, Dehradun. Prior to joining The Insight Partners, she gained valuable experience at MarketsandMarkets and Future Market Insights in Pune, where she held various research roles and built a strong foundation in industry analysis and client engagement.

What are the Asia Pacfic Gas Turbine Market report deliverables?

Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
PEST and SWOT Analysis
Market Size Value / Volume - Global, Regional, Country
Industry and Competitive Landscape
Excel Dataset

Asia Pacfic Gas Turbine Market Report Snapshots

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