The gas turbine market was valued at US$ 21,015.97 million in 2018 and is projected to reach US$ 29,447.30 million by 2027; it is expected to grow at a CAGR of 3.9% from 2019 to 2027.
Gas turbine is an internal combustion engine containing combustion chambers, which releases expanding gases that drive the blades of a turbine. The gas turbine converts natural gas and other liquids into mechanical energy. This energy fuels generators to produce electrical energy. There are various advantages associated with gas turbines, such as high power to weight ratio and low operations pressure. Despite being small in size, the gas turbines possess a high power rating. They reduce carbon emissions and release fewer emissions into the air compared to other engines. Gas turbines make use of natural gas, light gas, and bioethanol for its working. An 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. 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 gas turbine market.
In 2018, North America held the largest share of the global gas turbine market. The North America region comprises developed economies such as the US, Canada, and Mexico. The companies in this region are engrossed in enhancing their overall business processes in order to meet the demand of customers in the best possible manner. Several domestic and international companies have a strong foothold in the North American region. In North America, the US serves as a major market for gas turbine followed by Canada and Mexico. The rapid industrialization, favoring trade policies and surging demand for electricity stimulates the growth of gas turbine market in the North American region. An upsurge in energy demand, especially from manufacturing plants and other related industrial establishments, is further expected to further fuel the market growth.
The recent COVID-19 outbreak first began in Wuhan (China) inDecember 2019, and since then, it has spread around the globeat a fast pace.China, Italy, Iran, Spain, the Republic of Korea, France, Germany, and the US are among the worst-affected countries in terms of positive cases and reported deaths, as of March 2020. The COVID-19outbreak has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The global energy and power industry is one of the major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns as a result of this outbreak.China is the global manufacturing hub, with the presence ofand the largest raw material suppliers. The overall market break down due to COVID-19 is also affecting the growth of the gas turbine market due to shutting down of factories, obstacle in supply chain, and downturn in world economy.
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Gas Turbine Market: Strategic Insights
Market Size Value in US$ 21,015.97 Million in 2018 Market Size Value by US$ 29,447.30 Million by 2027 Growth rate CAGR of 3.9% from 2019-2027 Forecast Period 2019-2027 Base Year 2019
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Gas Turbine Market: Strategic Insights
| Market Size Value in | US$ 21,015.97 Million in 2018 |
| Market Size Value by | US$ 29,447.30 Million by 2027 |
| Growth rate | CAGR of 3.9% from 2019-2027 |
| Forecast Period | 2019-2027 |
| Base Year | 2019 |
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Global Gas Turbine Market
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Market Insights
An upsurge in the demand for electricity fuels global gas turbine market growth
The demand for electricity is growing as a result of the increasing population and increase in per capita consumption of electricity. The electricity demand in the coming years is expected to increase by one third of the current demand, globally. The primary gas producing regions such as the Middle East, US, and Russia are planning to renovate their infrastructure for electricity generation with gas-based power generation. Latin America, Southeast Asia, and Africa are also planning to adopt the similar infrastructure. The demand for electricity is also increasing from industrial establishments and manufacturing plants. The process of electricity or power generation is changing rapidly, and these changes are prompted by the cost of electricity generation and concerns regarding climate change. The usage of coal for electricity generation causes air pollution and GHG emissions. These concerns result in the use of gas turbines as a preferred source of power generation worldwide. The gas turbines have become an essential technology for converting conventional fossil fuels into electricity. This further boosts the growth of gas turbine market.
Technology Insights
Based on technology,the gas turbine market issegmented into open cycle and combined cycle. In 2018, the combined cyclesegment accounted for the largest share of the global market. The waste heat recovery unit of combined cycle power generation technology replaces the silence of gas turbines which helps in mitigating the space and weight constraints. This feature has raised the demand for combined cycle technology, which is expected to drive the growth ofgas turbine market during the forecast period.
Global Gas TurbineMarket, by Technology – 2018 and 2027
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Capacity Insights
Based on capacity, the gas turbine market is segmented into below 40 MW, 40-120 MW, 120-300 MW, and above 300 MW. In 2018, the 120–300 MW segment accounted for the largest share ofthe global gas turbine market. Gas turbines falling in the capacity groups of 120–300 MW proffer economic power generation fast start-up and a quick load change for the base, intermediate and peak loads. The fleet of gas turbines belonging to this category demonstrates 99% reliability. The outstanding fuel capacity of these turbines makes them suitable for applications in commercial operations and in the oil & gas industry.
Application Insights
Based on application, the gas turbine market is segmented into power generation, oil and gas, and industrial.In 2018, the power generationsegment held the largest share of the market; however, the industrial segment is expected to register the fastest CAGR during the forecast period. The liquid fuel or natural gas fed to the gas turbine is converted into mechanical energy by the gas turbines. 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.
Global Gas TurbineMarket – By Technology
- Open Cycle
- Combined Cycle
Global Gas TurbineMarket – By Capacity
- Below 40 MW
- 40-120 MW
- 120-300 MW
- Above 300 MW
Global Gas TurbineMarket – By Application
- Power Generation
- Oil and Gas
- Industrial
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
- Wärtsilä Corporation
- Bharat Heavy Electricals Limited (BHEL)
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Technology ; Capacity ; Application ; and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The power generation segment accounted for the largest share in the gas turbine market in 2018. 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 operating in the global gas turbine market, includes Ansaldo EnergiaS.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, and Bharat Heavy Electricals Limited (BHEL), and among many others.
The gas turbine market was dominated by North America region at a global level. Increasing environmental regulations to reduce the rate of carbon footprint along with low shale prices are the major factors projected to drive growth of the North America gas turbine market over the forecast period. Additionally, a rapid rise in energy demand, especially from manufacturing plants and related industrial establishments, is further expected to further fuel the market growth in North America.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 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. Gas Turbine Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 APAC
4.2.4 MEA
4.2.5 SAM
4.3 Expert Opinion
5. Gas Turbine Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Replacement of coal and nuclear driven turbines by gas turbines
5.1.2 An upsurge in the demand for electricity
5.2 Market Restraints
5.2.1 The interdependencies between gas and electricity sectors
5.3 Market Opportunities
5.3.1 Increase in the trend for distributed power generation
5.4 Future Trends
5.4.1 Changing trends in electricity consumption and growth in aviation industry to favour gas turbine market
5.5 Impact Analysis
6. Gas Turbine– Global Market Analysis
6.1 Gas Turbine Market Overview
6.2 Gas Turbine Market–Revenue and Forecast to 2027 (US$ Mn)
6.3 Market Positioning – Global Market Players
7. Gas Turbine Market Analysis – By Technology
7.1 Overview
7.2 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. Gas Turbine Market Analysis – By Capacity
8.1 Overview
8.2 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 40 - 120 MW
8.4.1 Overview
8.4.1.1 40 - 120 MW: Gas Turbine Market – Revenue and Forecast to 2027 (US$ Million)
8.5 120 - 300 MW
8.5.1 Overview
8.5.1.1 120 - 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. Gas Turbine Market Analysis – By Application
9.1 Overview
9.2 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: Gas Turbine Market – Revenue and Forecast to 2027 (US$ Million)
10. Gas Turbine Market – Geographic Analysis
10.1 Overview
10.2 North America: Gas Turbine Market
10.2.1 North America: Gas Turbine Market – Revenue and Forecast to 2027(US$ Million)
10.2.2 North America: Gas Turbine Market, by Technology
10.2.3 North America: Gas Turbine Market, by Capacity
10.2.4 North America: Gas Turbine Market, by Application
10.2.5 North America: Gas Turbine Market, by Key Country
10.2.5.1 US: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
10.2.5.1.1 US: Gas Turbine Market, by Technology
10.2.5.1.2 US: Gas Turbine Market, by Capacity
10.2.5.1.3 US: Gas Turbine Market, by Application
10.2.5.2 Canada: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
10.2.5.2.1 Canada: Gas Turbine Market, by Technology
10.2.5.2.2 Canada: Gas Turbine Market, by Capacity
10.2.5.2.3 Canada: Gas Turbine Market, by Application
10.2.5.3 Mexico: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
10.2.5.3.1 Mexico: Gas Turbine Market, by Technology
10.2.5.3.2 Mexico: Gas Turbine Market, by Capacity
10.2.5.3.3 Mexico: Gas Turbine Market, by Application
10.3 Europe: Gas Turbine Market
10.3.1 Europe: Gas Turbine Market – Revenue and Forecast to 2027(US$ Million)
10.3.2 Europe: Gas Turbine Market, by Technology
10.3.3 Europe: Gas Turbine Market, by Capacity
10.3.4 Europe: Gas Turbine Market, by Application
10.3.5 Europe: Gas Turbine Market, by Key Country
10.3.5.1 Germany: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
10.3.5.1.1 Germany: Gas Turbine Market, by Technology
10.3.5.1.2 Germany: Gas Turbine Market, by Capacity
10.3.5.1.3 Germany: Gas Turbine Market, by Application
10.3.5.2 France: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
10.3.5.2.1 France: Gas Turbine Market, by Technology
10.3.5.2.2 France: Gas Turbine Market, by Capacity
10.3.5.2.3 France: Gas Turbine Market, by Application
10.3.5.3 Italy: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
10.3.5.3.1 Italy: Gas Turbine Market, by Technology
10.3.5.3.2 Italy: Gas Turbine Market, by Capacity
10.3.5.3.3 Italy: Gas Turbine Market, by Application
10.3.5.4 UK: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
10.3.5.4.1 UK: Gas Turbine Market, by Technology
10.3.5.4.2 UK: Gas Turbine Market, by Capacity
10.3.5.4.3 UK: Gas Turbine Market, by Application
10.3.5.5 Russia: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
10.3.5.5.1 Russia: Gas Turbine Market, by Technology
10.3.5.5.2 Russia: Gas Turbine Market, by Capacity
10.3.5.5.3 Russia: Gas Turbine Market, by Application
10.3.5.6 Rest of Europe: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
10.3.5.6.1 Rest of Europe: Gas Turbine Market, by Technology
10.3.5.6.2 Rest of Europe: Gas Turbine Market, by Capacity
10.3.5.6.3 Rest of Europe: Gas Turbine Market, by Application
10.4 APAC: Gas Turbine Market
10.4.1 APAC: Gas Turbine Market – Revenue and Forecast to 2027(US$ Million)
10.4.2 APAC: Gas Turbine Market, by Technology
10.4.3 APAC: Gas Turbine Market, by Capacity
10.4.4 APAC: Gas Turbine Market, by Application
10.4.5 APAC: Gas Turbine Market, by Key Country
10.4.5.1 Australia: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
10.4.5.1.1 Australia: Gas Turbine Market, by Technology
10.4.5.1.2 Australia: Gas Turbine Market, by Capacity
10.4.5.1.3 Australia: Gas Turbine Market, by Application
10.4.5.2 China: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
10.4.5.2.1 China: Gas Turbine Market, by Technology
10.4.5.2.2 China: Gas Turbine Market, by Capacity
10.4.5.2.3 China: Gas Turbine Market, by Application
10.4.5.3 India: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
10.4.5.3.1 India: Gas Turbine Market, by Technology
10.4.5.3.2 India: Gas Turbine Market, by Capacity
10.4.5.3.3 India: Gas Turbine Market, by Application
10.4.5.4 Japan: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
10.4.5.4.1 Japan: Gas Turbine Market, by Technology
10.4.5.4.2 Japan: Gas Turbine Market, by Capacity
10.4.5.4.3 Japan: Gas Turbine Market, by Application
10.4.5.5 South Korea: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
10.4.5.5.1 South Korea: Gas Turbine Market, by Technology
10.4.5.5.2 South Korea: Gas Turbine Market, by Capacity
10.4.5.5.3 South Korea: Gas Turbine Market, by Application
10.4.5.6 Rest of APAC: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
10.4.5.6.1 Rest of APAC: Gas Turbine Market, by Technology
10.4.5.6.2 Rest of APAC: Gas Turbine Market, by Capacity
10.4.5.6.3 Rest of APAC: Gas Turbine Market, by Application
10.5 MEA: Gas Turbine Market
10.5.1 MEA: Gas Turbine Market – Revenue and Forecast to 2027(US$ Million)
10.5.2 MEA: Gas Turbine Market, by Technology
10.5.3 MEA: Gas Turbine Market, by Capacity
10.5.4 MEA: Gas Turbine Market, by Application
10.5.5 MEA: Gas Turbine Market, by Key Country
10.5.5.1 South Africa: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
10.5.5.1.1 South Africa: Gas Turbine Market, by Technology
10.5.5.1.2 South Africa: Gas Turbine Market, by Capacity
10.5.5.1.3 South Africa: Gas Turbine Market, by Application
10.5.5.2 Saudi Arabia: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
10.5.5.2.1 Saudi Arabia: Gas Turbine Market, by Technology
10.5.5.2.2 Saudi Arabia: Gas Turbine Market, by Capacity
10.5.5.2.3 Saudi Arabia: Gas Turbine Market, by Application
10.5.5.3 UAE: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
10.5.5.3.1 UAE: Gas Turbine Market, by Technology
10.5.5.3.2 UAE: Gas Turbine Market, by Capacity
10.5.5.3.3 UAE: Gas Turbine Market, by Application
10.5.5.4 Rest of MEA: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
10.5.5.4.1 Rest of MEA: Gas Turbine Market, by Technology
10.5.5.4.2 Rest of MEA: Gas Turbine Market, by Capacity
10.5.5.4.3 Rest of MEA: Gas Turbine Market, by Application
10.6 SAM: Gas Turbine Market
10.6.1 SAM: Gas Turbine Market – Revenue and Forecast to 2027(US$ Million)
10.6.2 SAM: Gas Turbine Market, by Technology
10.6.3 SAM: Gas Turbine Market, by Capacity
10.6.4 SAM: Gas Turbine Market, by Application
10.6.5 SAM: Gas Turbine Market, by Key Country
10.6.5.1 Brazil: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
10.6.5.1.1 Brazil: Gas Turbine Market, by Technology
10.6.5.1.2 Brazil: Gas Turbine Market, by Capacity
10.6.5.1.3 Brazil: Gas Turbine Market, by Application
10.6.5.2 Argentina: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
10.6.5.2.1 Argentina: Gas Turbine Market, by Technology
10.6.5.2.2 Argentina: Gas Turbine Market, by Capacity
10.6.5.2.3 Argentina: Gas Turbine Market, by Application
10.6.5.3 Rest of SAM: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
10.6.5.3.1 Rest of SAM: Gas Turbine Market, by Technology
10.6.5.3.2 Rest of SAM: Gas Turbine Market, by Capacity
10.6.5.3.3 Rest of SAM: Gas Turbine Market, by Application
11. Impact of COVID-19 Pandemic on Global Gas Turbine Market
11.1 Overview
11.2 North America: Impact Assessment of COVID-19 Pandemic
11.3 Europe: Impact assessment of COVID-19 Pandemic
11.4 Asia-Pacific: Impact assessment of COVID-19 Pandemic
11.5 Middle East and Africa: Impact assessment of COVID-19 Pandemic
11.6 South 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. Gas Turbine Market –Revenue and Forecast to 2027 (US$ Mn)
Table 2. North America Gas Turbine Market, by Technology – Revenue and Forecast to 2027 (USD Million)
Table 3. North America Gas Turbine Market, by Capacity – Revenue and Forecast to 2027 (USD Million)
Table 4. North America Gas Turbine Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 5. US Gas Turbine Market, by Technology – Revenue and Forecast to 2027 (USD Million)
Table 6. US Gas Turbine Market, by Capacity – Revenue and Forecast to 2027 (USD Million)
Table 7. US Gas Turbine Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 8. Canada Gas Turbine Market, by Technology – Revenue and Forecast to 2027 (USD Million)
Table 9. Canada Gas Turbine Market, by Capacity – Revenue and Forecast to 2027 (USD Million)
Table 10. Canada Gas Turbine Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 11. Mexico Gas Turbine Market, by Technology – Revenue and Forecast to 2027 (USD Million)
Table 12. Mexico Gas Turbine Market, by Capacity – Revenue and Forecast to 2027 (USD Million)
Table 13. Mexico Gas Turbine Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 14. Europe Gas Turbine Market, by Technology – Revenue and Forecast to 2027 (USD Million)
Table 15. Europe Gas Turbine Market, by Capacity – Revenue and Forecast to 2027 (USD Million)
Table 16. Europe Gas Turbine Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 17. Germany Gas Turbine Market, by Technology – Revenue and Forecast to 2027 (USD Million)
Table 18. Germany Gas Turbine Market, by Capacity – Revenue and Forecast to 2027 (USD Million)
Table 19. Germany Gas Turbine Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 20. France Gas Turbine Market, by Technology – Revenue and Forecast to 2027 (USD Million)
Table 21. France Gas Turbine Market, by Capacity – Revenue and Forecast to 2027 (USD Million)
Table 22. France Gas Turbine Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 23. Italy Gas Turbine Market, by Technology – Revenue and Forecast to 2027 (USD Million)
Table 24. Italy Gas Turbine Market, by Capacity – Revenue and Forecast to 2027 (USD Million)
Table 25. Italy Gas Turbine Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 26. UK Gas Turbine Market, by Technology – Revenue and Forecast to 2027 (USD Million)
Table 27. UK Gas Turbine Market, by Capacity – Revenue and Forecast to 2027 (USD Million)
Table 28. UK Gas Turbine Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 29. Russia Gas Turbine Market, by Technology – Revenue and Forecast to 2027 (USD Million)
Table 30. Russia Gas Turbine Market, by Capacity – Revenue and Forecast to 2027 (USD Million)
Table 31. Russia Gas Turbine Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 32. Rest of Europe Gas Turbine Market, by Technology – Revenue and Forecast to 2027 (USD Million)
Table 33. Rest of Europe Gas Turbine Market, by Capacity – Revenue and Forecast to 2027 (USD Million)
Table 34. Rest of Europe Gas Turbine Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 35. APAC Gas Turbine Market, by Technology – Revenue and Forecast to 2027 (USD Million)
Table 36. APAC Gas Turbine Market, by Capacity – Revenue and Forecast to 2027 (USD Million)
Table 37. APAC Gas Turbine Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 38. Australia Gas Turbine Market, by Technology – Revenue and Forecast to 2027 (USD Million)
Table 39. Australia Gas Turbine Market, by Capacity – Revenue and Forecast to 2027 (USD Million)
Table 40. Australia Gas Turbine Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 41. China Gas Turbine Market, by Technology – Revenue and Forecast to 2027 (USD Million)
Table 42. China Gas Turbine Market, by Capacity – Revenue and Forecast to 2027 (USD Million)
Table 43. China Gas Turbine Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 44. India Gas Turbine Market, by Technology – Revenue and Forecast to 2027 (USD Million)
Table 45. India Gas Turbine Market, by Capacity – Revenue and Forecast to 2027 (USD Million)
Table 46. India Gas Turbine Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 47. Japan Gas Turbine Market, by Technology – Revenue and Forecast to 2027 (USD Million)
Table 48. Japan Gas Turbine Market, by Capacity – Revenue and Forecast to 2027 (USD Million)
Table 49. Japan Gas Turbine Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 50. South Korea Gas Turbine Market, by Technology – Revenue and Forecast to 2027 (USD Million)
Table 51. South Korea Gas Turbine Market, by Capacity – Revenue and Forecast to 2027 (USD Million)
Table 52. South Korea Gas Turbine Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 53. Rest of APAC Gas Turbine Market, by Technology – Revenue and Forecast to 2027 (USD Million)
Table 54. Rest of APAC Gas Turbine Market, by Capacity – Revenue and Forecast to 2027 (USD Million)
Table 55. Rest of APAC Gas Turbine Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 56. MEA Gas Turbine Market, by Technology – Revenue and Forecast to 2027 (USD Million)
Table 57. MEA Gas Turbine Market, by Capacity – Revenue and Forecast to 2027 (USD Million)
Table 58. MEA Gas Turbine Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 59. South Africa Gas Turbine Market, by Technology – Revenue and Forecast to 2027 (USD Million)
Table 60. South Africa Gas Turbine Market, by Capacity – Revenue and Forecast to 2027 (USD Million)
Table 61. South Africa Gas Turbine Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 62. Saudi Arabia Gas Turbine Market, by Technology – Revenue and Forecast to 2027 (USD Million)
Table 63. Saudi Arabia Gas Turbine Market, by Capacity – Revenue and Forecast to 2027 (USD Million)
Table 64. Saudi Arabia Gas Turbine Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 65. UAE Gas Turbine Market, by Technology – Revenue and Forecast to 2027 (USD Million)
Table 66. UAE Gas Turbine Market, by Capacity – Revenue and Forecast to 2027 (USD Million)
Table 67. UAE Gas Turbine Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 68. Rest of MEA Gas Turbine Market, by Technology – Revenue and Forecast to 2027 (USD Million)
Table 69. Rest of MEA Gas Turbine Market, by Capacity – Revenue and Forecast to 2027 (USD Million)
Table 70. Rest of MEA Gas Turbine Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 71. SAM Gas Turbine Market, by Technology – Revenue and Forecast to 2027 (USD Million)
Table 72. SAM Gas Turbine Market, by Capacity – Revenue and Forecast to 2027 (USD Million)
Table 73. SAM Gas Turbine Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 74. Brazil Gas Turbine Market, by Technology – Revenue and Forecast to 2027 (USD Million)
Table 75. Brazil Gas Turbine Market, by Capacity – Revenue and Forecast to 2027 (USD Million)
Table 76. Brazil Gas Turbine Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 77. Argentina Gas Turbine Market, by Technology – Revenue and Forecast to 2027 (USD Million)
Table 78. Argentina Gas Turbine Market, by Capacity – Revenue and Forecast to 2027 (USD Million)
Table 79. Argentina Gas Turbine Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 80. Rest of SAM Gas Turbine Market, by Technology – Revenue and Forecast to 2027 (USD Million)
Table 81. Rest of SAM Gas Turbine Market, by Capacity – Revenue and Forecast to 2027 (USD Million)
Table 82. Rest of SAM Gas Turbine Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 83. List of Abbreviation
LIST OF FIGURES
Figure 1. Gas turbine Market Segmentation
Figure 2. Gas turbine Market Segmentation – By Geography
Figure 3. Global Gas Turbine Market Overview
Figure 4. Power Generation Segment Held Largest Share of Global Gas Turbine Market
Figure 5. North America Region Held Largest Share of Global Gas Turbine Market
Figure 6. Global Gas Turbine Market, Industry Landscape
Figure 7. North America: PEST Analysis
Figure 8. Europe: PEST Analysis
Figure 9. APAC: PEST Analysis
Figure 10. MEA: PEST Analysis
Figure 11. SAM: PEST Analysis
Figure 12. Expert Opinion
Figure 13. Impact Analysis of Drivers And Restraints
Figure 14. Geographic Overview of Gas Turbine Market
Figure 15. Gas Turbine Market – Revenue and Forecast to 2027 (US$ Mn)
Figure 16. Gas Turbine Market Revenue Share, by Technology (2018 and 2027)
Figure 17. Open Cycle: Gas Turbine Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 18. Combined Cycle: Gas Turbine Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 19. Gas Turbine Market Revenue Share, by Capacity (2018 and 2027)
Figure 20. Below 40 MW: Gas Turbine Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 21. 40 - 120 MW: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
Figure 22. 120 - 300 MW: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
Figure 23. Above 300 MW: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
Figure 24. Gas Turbine Market Revenue Share, by Application (2018 and 2027)
Figure 25. Power Generation: Gas Turbine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 26. Oil and Gas: Gas Turbine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 27. Industrial: Gas Turbine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 28. Global Gas Turbine Market Revenue Share, by Region (2018 and 2027)
Figure 29. North America: Gas Turbine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 30. North America: Gas Turbine Market Revenue Share, by Technology (2018 and 2027)
Figure 31. North America: Gas Turbine Market Revenue Share, by Capacity (2018 and 2027)
Figure 32. North America: Gas Turbine Market Revenue Share, by Application (2018 and 2027)
Figure 33. North America: Gas Turbine Market Revenue Share, by Key Country (2018 and 2027)
Figure 34. US: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
Figure 35. Canada: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
Figure 36. Mexico: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
Figure 37. Europe: Gas Turbine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 38. Europe: Gas Turbine Market Revenue Share, by Technology (2018 and 2027)
Figure 39. Europe: Gas Turbine Market Revenue Share, by Capacity (2018 and 2027)
Figure 40. Europe: Gas Turbine Market Revenue Share, by Application (2018 and 2027)
Figure 41. Europe: Gas Turbine Market Revenue Share, by Key Country (2018 and 2027)
Figure 42. Germany: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
Figure 43. France: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
Figure 44. Italy: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
Figure 45. UK: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
Figure 46. Russia: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
Figure 47. Rest of Europe: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
Figure 48. APAC: Gas Turbine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 49. APAC: Gas Turbine Market Revenue Share, by Technology (2018 and 2027)
Figure 50. APAC: Gas Turbine Market Revenue Share, by Capacity (2018 and 2027)
Figure 51. APAC: Gas Turbine Market Revenue Share, by Application (2018 and 2027)
Figure 52. APAC: Gas Turbine Market Revenue Share, by Key Country (2018 and 2027)
Figure 53. Australia: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
Figure 54. China: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
Figure 55. India: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
Figure 56. Japan: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
Figure 57. South Korea: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
Figure 58. Rest of APAC: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
Figure 59. MEA: Gas Turbine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 60. MEA: Gas Turbine Market Revenue Share, by Technology (2018 and 2027)
Figure 61. MEA: Gas Turbine Market Revenue Share, by Capacity (2018 and 2027)
Figure 62. MEA: Gas Turbine Market Revenue Share, by Application (2018 and 2027)
Figure 63. MEA: Gas Turbine Market Revenue Share, by Key Country (2018 and 2027)
Figure 64. South Africa: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
Figure 65. Saudi Arabia: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
Figure 66. UAE: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
Figure 67. Rest of MEA: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
Figure 68. SAM: Gas Turbine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 69. SAM: Gas Turbine Market Revenue Share, by Technology (2018 and 2027)
Figure 70. SAM: Gas Turbine Market Revenue Share, by Capacity (2018 and 2027)
Figure 71. SAM: Gas Turbine Market Revenue Share, by Application (2018 and 2027)
Figure 72. SAM: Gas Turbine Market Revenue Share, by Key Country (2018 and 2027)
Figure 73. Brazil: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
Figure 74. Argentina: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
Figure 75. Rest of SAM: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
Figure 76. Impact of COVID-19 Pandemic In North American Country Markets
Figure 77. Impact of COVID-19 Pandemic In Europe Country Markets
Figure 78. Impact of COVID-19 Pandemic in Asia Pacific Country Markets
Figure 79. Impact of COVID-19 Pandemic in Middle East And Africa Country Markets
Figure 80. Impact of COVID-19 Pandemic in South America Country Markets
The List of Companies - Gas turbine market
- AnsaldoEnergiaS.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)
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- 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.
- 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:
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.
- 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.
- 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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