Middle East and Africa Gas Turbine Market to Grow at a CAGR of 4.5% to reach US$ 5006.04 million from 2020 to 2027

Middle 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)

Publication Month : Sep 2020

  • Report Code : TIPRE00014754
  • Category : Energy and Power
  • Status : Published
  • No. of Pages : 86
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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.Middle East and Africa Gas Turbine Market
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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)

Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Technology, Capacity, and Application

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Saudi Arabia

The List of Companies - Middle East and Africa Mobile Access Control Platform Market

  1. Ansaldo Energia S.p.A.
  2. General Electric Company
  3. Harbin Electric Company Limited
  4. Kawasaki Heavy Industries, Ltd.
  5. Man Energy Solutions
  6. Mitsubishi Hitachi Power Systems, Ltd.
  7. Siemens AG
  8. Solar Turbines Incorporated
  9. Wärtsilä Corporation
  10. Bharat Heavy Electricals Limited (BHEL)

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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