North America 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) and Country
The gas turbine market in North America is expected to grow from US$ 6,723.37 Mn in 2018 to US$ 9,334.79 Mn by 2027; it is estimated to grow at a CAGR of 3.7% from 2019 to 2027.
The US, Canada, and Mexico are major economies in North America. Coal and nuclear driven turbines have been substituted by gas turbines and this substitution has recently gained momentum after weak growth over the past few years. A gas turbine refers to a combustion engine that is 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. 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, the substitution of gas turbines against coal and nuclear driven turbines would give a boost to the gas turbines in the coming years, which is further anticipated to drive the market in North America. Besides this, regional government offering incentives to companies using natural gas-based turbines for power generation, oil & gas, aviation, and process plants also pay impetus to the North America gas turbine market. In some countries, nuclear power stations have been closed amid the political pressure and wrapped financial markets, which has led to the use of gas turbines. Gas turbines are a type of internal combustion in which the burning of an air-fuel mixture produced hot gases that spins the blades of the turbine to produce electricity. Furthermore, The COVID-19 outbreak has 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. In addition to this, North America travel bans are affecting the business collaborations and partnerships opportunities. US is the worst affected country in terms confirmed cases and reported deaths.
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 North America gas turbine market is expected to grow at a good CAGR during the forecast period.
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North America Gas Turbine Market Segmentation
North America Gas Turbine Market – By Technology
- Open Cycle
- Combined Cycle
North America Gas Turbine Market – By Capacity
- Below 40MW
- 40-120 MW
- 120-300 MW
- Above 300MW
North America Gas Turbine Market – By Application
- Power Generation
- Oil and Gas
- Industrial
North America Gas Turbine Market, by Country
- US
- Canada
- Mexico
North America Gas Turbine Market-Companies Mentioned
- Ansaldo Energia S.p.A.
- Bharat Heavy Electricals Limited (BHEL)
- 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
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 North America Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis formulation:
3.2.4 Macro-economic factor analysis:
3.2.5 Developing base number:
3.2.6 Data Triangulation:
3.2.7 Country level data:
4. North America Gas Turbine Market Landscape
4.1 Market Overview
5. North America Gas Turbine Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Coal and nuclear driven turbines have been substituted by gas turbines
5.1.2 Demand for electricity has witnessed a sudden rise
5.2 Market Restraints
5.2.1 Huge dependency on gas and electricity sectors
5.3 Market Opportunities
5.3.1 New trend of growth for distributed power generation
5.4 Future Trends
5.4.1 Electricity consumption and growth in aviation industry has revamped new trends to favour gas turbine market
5.5 Impact Analysis
6. Gas Turbine – North America Market Analysis
6.1 Gas Turbine Market Overview
6.2 North America Gas Turbine Market–Revenue and Forecast to 2027 (US$ Mn)
6.3 Market Positioning – Market Players
7. North America Gas Turbine Market Analysis – By Technology
7.1 Overview
7.2 North America Gas Turbine Market, By Technology (2018 and 2027)
7.3 Open Cycle
7.3.1 Overview
7.3.1.1 Open Cycle: Gas Turbine Market – Revenue, and Forecast to 2027 (US$ Million)
7.4 Combined Cycle
7.4.1 Overview
7.4.1.1 Combined Cycle: Gas Turbine Market – Revenue, and Forecast to 2027 (US$ Million)
8. North America Gas Turbine Market Analysis – By Capacity
8.1 Overview
8.2 North America Gas Turbine Market, By Capacity (2018 and 2027)
8.3 Below 40 MW
8.3.1 Overview
8.3.1.1 Below 40 MW: Gas Turbine Market – Revenue and Forecast to 2027 (US$ Million)
8.4 - 120 MW
8.4.1 Overview
8.4.1.1 - 120 MW: Gas Turbine Market – Revenue and Forecast to 2027 (US$ Million)
8.5 - 300 MW
8.5.1 Overview
8.5.1.1 - 300 MW: Gas Turbine Market – Revenue and Forecast to 2027 (US$ Million)
8.6 Above 300 MW
8.6.1 Overview
8.6.1.1 Above 300 MW: Gas Turbine Market – Revenue and Forecast to 2027 (US$ Million)
9. North America Gas Turbine Market Analysis – By Application
9.1 Overview
9.2 North America Gas Turbine Market, By Application (2018 and 2027)
9.3 Power Generation
9.3.1 Overview
9.3.2 Power Generation: Gas Turbine Market – Revenue and Forecast to 2027 (US$ Million)
9.4 Oil and Gas
9.4.1 Overview
9.4.2 Oil and Gas: Gas Turbine Market – Revenue and Forecast to 2027 (US$ Million)
9.5 Industrial
9.5.1 Overview
9.5.2 Industrial: Turbine Market – Revenue and Forecast to 2027 (US$ Million)
10. North America Gas Turbine Market – Country Analysis
10.1 Overview
10.1.1 North America: Gas Turbine Market, by Key Country
10.1.1.1 US: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
10.1.1.1.1 US: Gas Turbine Market, by Technology
10.1.1.1.2 US: Gas Turbine Market, by Capacity
10.1.1.1.3 US: Gas Turbine Market, by Application
10.1.1.2 Canada: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
10.1.1.2.1 Canada: Gas Turbine Market, by Technology
10.1.1.2.2 Canada: Gas Turbine Market, by Capacity
10.1.1.2.3 Canada: Gas Turbine Market, by Application
10.1.1.3 Mexico: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
10.1.1.3.1 Mexico: Gas Turbine Market, by Technology
10.1.1.3.2 Mexico: Gas Turbine Market, by Capacity
10.1.1.3.3 Mexico: Gas Turbine Market, by Application
11. Impact of COVID-19 Pandemic on North America Gas Turbine Market
11.1 Overview
11.2 North America: Impact Assessment of COVID-19 Pandemic
12. Industry Landscape
12.1 Strategy and Business Planning
12.2 Collaboration
12.3 Product Launch
13. Company Profiles
13.1 Ansaldo Energia S.p.A.
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 General Electric Company
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Harbin Electric Company Limited
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.4 Kawasaki Heavy Industries, Ltd.
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.5 Man Energy Solutions
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.6 Mitsubishi Hitachi Power Systems, Ltd.
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Siemens AG
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.8 Solar Turbines Incorporated
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.9 Wärtsilä Corporation
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.10 Bharat Heavy Electricals Limited (BHEL)
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. North America Gas Turbine Market –Revenue and Forecast to 2027 (US$ Mn)
Table 2. US Gas Turbine Market, by Technology – Revenue and Forecast to 2027 (USD Million)
Table 3. US Gas Turbine Market, by Capacity – Revenue and Forecast to 2027 (USD Million)
Table 4. US Gas Turbine Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 5. Canada Gas Turbine Market, by Technology – Revenue and Forecast to 2027 (USD Million)
Table 6. Canada Gas Turbine Market, by Capacity – Revenue and Forecast to 2027 (USD Million)
Table 7. Canada Gas Turbine Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 8. Mexico Gas Turbine Market, by Technology – Revenue and Forecast to 2027 (USD Million)
Table 9. Mexico Gas Turbine Market, by Capacity – Revenue and Forecast to 2027 (USD Million)
Table 10. Mexico Gas Turbine Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 11. List of AbbreviationLIST OF FIGURES
Figure 1. North America Gas turbine Market Segmentation
Figure 2. North America Gas turbine Market Segmentation – By Country
Figure 3. North America Gas Turbine Market Overview
Figure 4. Power Generation Segment Held Largest Share of North America Gas Turbine Market
Figure 5. US Held Largest Share of North America Gas Turbine Market
Figure 6. Combined Cycle Held Largest Share of North America Gas Turbine Market
Figure 7. North America: PEST Analysis
Figure 8. Expert Opinion
Figure 9. North America Impact Analysis of Drivers And Restraints
Figure 10. North America Gas Turbine Market – Revenue and Forecast to 2027 (US$ Mn)
Figure 11. North America Gas Turbine Market Revenue Share, by Technology (2018 and 2027)
Figure 12. North America Open Cycle: Gas Turbine Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 13. North America Combined Cycle: Gas Turbine Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 14. North America Gas Turbine Market Revenue Share, by Capacity (2018 and 2027)
Figure 15. North America Below 40 MW: Gas Turbine Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 16. North America 40 - 120 MW: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
Figure 17. North America 120 - 300 MW: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
Figure 18. North America Above 300 MW: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
Figure 19. North America Gas Turbine Market Revenue Share, by Application (2018 and 2027)
Figure 20. North America Power Generation: Gas Turbine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 21. North America Oil and Gas: Gas Turbine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 22. North America Industrial: Gas Turbine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 23. North America: Gas Turbine Market Revenue Share, by Key Country (2018 and 2027)
Figure 24. US: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
Figure 25. Canada: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
Figure 26. Mexico: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
Figure 27. Impact of COVID-19 Pandemic In North American Country Markets
- Ansaldo Energia S.p.A.
- Bharat Heavy Electricals Limited (BHEL)
- 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
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the North America Gas Turbine market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the North America Gas Turbine market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth North America market trends and outlook coupled with the factors driving the Gas Turbine market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution.