Middle East and Africa Gas Turbine Market Key Players and Opportunities by 2027
Historic Data: 2016-2017 | Base Year: 2018 | Forecast Period: 2019-2027Middle East and Africa Gas Turbine Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Technology (Open Cycle and Combined Cycle), Capacity (<40 MW, 40–120 MW, 120–300 MW, and >300 MW), and Application (Power Generation, Oil and Gas, and Industrial)
- Report Date : Sep 2020
- Report Code : TIPRE00014754
- Category : Energy and Power
- Status : Published
- Available Report Formats :
- No. of Pages : 86
The gas turbine market in Middle East and Africa is expected to grow from US$ 3383.00 million in 2018 to US$ 5006.04 million by 2027; it is estimated to grow at a CAGR of 4.5% from 2019 to 2027.
South Africa, Saudi Arabia, and UAE are major economies in the Middle East and Africa. The gas turbines are one of the most widely used technologies used for the sake of the production of electricity. Gas turbines are used to produce electricity by making use of natural gas or liquid fuel to propel the turbines. Gas turbine refers to a combustion engine that is more eco-friendly as it not only runs on natural gas, and it produces less exhaust gas pollution as compared to the internal combustion engines. The gas-fired turbines are faster, more efficient, and less polluting than coal-fired and nuclear power plants. The various advantages associated with gas turbines are high power to weight ratio and low operations pressure. Gas turbines make use of natural gas, light gas, and bioethanol for its working. Increasing 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, to reduce carbon footprints by harnessing natural instead of coal and nuclear is expected to create significant demand for gas turbines in the coming years, which is further anticipated to drive the gas turbine market in Middle East and Africa.With new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Middle East and Africa gas turbine market. The Middle East and Africa gas turbine market is expected to grow at a good CAGR during the forecast period.
The COVID-19 outbreak is been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The energy and power industry is one of the major industries that is suffering serious disruptions such as supply chain breaks, technology events cancellations, office shutdowns, etc. 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 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.
- This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.
Middle East and Africa Gas Turbine Market Segmentation
Middle East and Africa Gas Turbine Market – By Technology
- Open cycle
- Combined Cycle
Middle East and Africa Gas Turbine Market – By Capacity
- Below 40 MW
- 40-120 MW
- 120-300 MW
- Above 300 MW
Middle East and Africa Gas Turbine Market – By Application
- Power Generation
- Oil and Gas
- Industrial
Middle East and Africa Gas Turbine Market – By Country
- South Africa
- Saudi Arabia
- U.A.E.
- Rest of Middle East and Africa
Middle East and Africa 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)
Middle East and Africa Gas Turbine Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2018 | US$ 3383.00 Million |
| Market Size by 2027 | US$ 5006.04 Million |
| Global CAGR (2019 - 2027) | 4.5% |
| Historical Data | 2016-2017 |
| Forecast period | 2019-2027 |
| Segments Covered |
By Technology
|
| Regions and Countries Covered | Middle East and Africa
|
| Market leaders and key company profiles |
- 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
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