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Gas turbine Market - Global Industry Analysis

Gas turbine Market by Design Type (Heavy duty and Aero-derivative), Application (Oil & Gas, Power generation, and Others), By Rated Capacity (1 to 40 MW, 40 to 120 MW, 120 to 300 MW, Above 300 MW): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028

Published Date: 05-Jul-2021 Category: Energy & Mining Report Format : PDF Pages: 125 Report Code: ZMR-42 Status : Published

The global Gas turbine market accounted for USD 15.9 Billion in 2020 and is expected to reach USD 22.9 Billion by 2028, growing at a CAGR of 4.2% from 2021 to 2028.

Description

Market Overview     

The global Gas turbine market accounted for USD 15.9 Billion in 2020 and is expected to reach USD 22.9 Billion by 2028, growing at a CAGR of 4.2% from 2021 to 2028.        

The gas turbine is an engine generally utilized at the power plant that produces electricity. It is also called a combustion engine that can transform natural gases and liquid fluids to mechanical energy.

They are accessible in sizes spanning from 500 kW (kilowatts) to 250 MW (megawatts). Previously, gas turbines were only utilized for producing electricity, but nowadays they are one of the most extensively utilized power generating technologies. Gas turbines can be utilized in several manners for the generation of electricity as well as other forms of important energy.

Siemens has launched a new SGT-800 performance development that is relevant to all prevailing SGT-800 units with ratings of 43–47.5 MW. The new update is intended to offer operators and owners with noteworthy fuel savings and a decrease in CO2 emissions for enhanced sustainable energy generation.

COVID-19 Impact Analysis:

The power and energy industry is anticipated to experience differential impact of this rapid spreading COVID-19 on each stage of its value chain through mediums of affected workforce at industrial level, raw material supply, trade & logistics, demand–supply volatility, and uncertain consumer demand. Products and inventory levels across the industry spectrum are expected to be impacted. Key players and vendors are facing challenges in raw material supply, owing to poor logistics, traffic control, and restrictions on public movement in affected countries across the globe, which leads to supply disruptions. Trade restrictions imposed by several countries across the globe to prevent further spread of coronavirus has significantly affected global logistics and transportation, which, in turn, has impacted the Gas turbine market.

Growth Factors  

Mounting efficiency and resilience of gas turbines are key factors responsible for the growth of the gas turbines market. Stringent carbon emission rules around the world are anticipated to fuel the gas turbines market growth in the coming period. Moreover, the technological advancement and low power producing price are the other factors that drive the gas turbines market growth. On the other hand, extended start-up time, low sensitivity to amendment in power demand, and lesser efficiency at ideal speed are few factors that may impede the growth of the gas turbines market.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Design Type Segment Analysis Preview

Based on Gas turbine Design Types, the market is segmented into Heavy duty and Aero-derivative. Heavy duty segment gained a major demand in the coming years. In 2015, the heavy duty type gas turbine was the governing segment due to rising digit of large gas-fired plants and the stipulation for heavy-duty gas turbines.

Rated capacity Segment Analysis Preview

 By rated capacity, the market is segmented into 1 To 40 MW, 40 To 120 MW, 120 To 300 MW, and above 300 MW. 40 to 300 MW capacity segment is likely to hold the major share in the market. Gas turbines with the above capacity can be utilized in several manners for the generation of electricity as well as other forms of important energy.

Region Analysis Preview

Asia Pacific hold the major share in the market. This supremacy is mainly observed owing to the enormous population and elevated demand for electricity in this region. India and China are the most crowded nations in this region. In 2020, China alone utilized over more than 20% electricity in the world. Power production in Asia Pacific was backed by their massive amount of natural resources.

Key Market Players & Competitive Landscape

Some of key players in Gas turbine market are Siemens AG, Alstom S.A, Bharat Heavy Electricals Limited, Mitsubishi Hitachi Power Systems, General Electric Company, AnsaldoEnergia S.P.A and among others.

The global Gas turbine market is segmented as follows:    

By Design Type

  • Heavy duty
  • Aero-derivative

By Application

  • Oil & Gas
  • Power generation
  • Others

 By Rated Capacity

  • 1 to 40 MW
  • 40 to 120 MW
  •  120 to 300 MW
  • Above 300 MW

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter No. 1 Introduction
    • 1.1. Report Description
      • 1.1.1. Purpose of the Report
      • 1.1.2. USP & Key Offerings
    • 1.2. Key Benefits for Stakehulders
    • 1.3. Target Audience
    • 1.4. Report Scope
  • Chapter No. 2 Executive Summary
    • 2.1. Key Findings
      • 2.1.1. Top Investment Pockets
        • 2.1.1.1. Market Attractiveness Analysis, By Design Type
        • 2.1.1.2. Market Attractiveness Analysis, By Application
        • 2.1.1.3. Market Attractiveness Analysis, By Rated Capacity
        • 2.1.1.4. Market Attractiveness Analysis, By Region
    • 2.2. Market Snapshot
    • 2.3. Global Gas turbine Market, 2016 – 2028 (USD Billion) (Tons)
    • 2.4. Insights from Primary Respondents
  • Chapter No. 3 COVID 19 Impact Analysis
    • 3.1. Impact Assessment of COVID-19 Pandemic, By Region
      • 3.1.1. North America
      • 3.1.2. Europe
      • 3.1.3. Asia Pacific
      • 3.1.4. Latin America
      • 3.1.5. The Middle-East and Africa
    • 3.2. Quarterly Market Revenue and Forecast by Region 2020 & 2021
    • 3.3. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Billion)
    • 3.4. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Billion)
    • 3.5. Key Strategies Undertaken by Companies to Tackle COVID-19
      • 3.5.1. Company Quarterly Revenue Analysis, 2019 & 2020
    • 3.6. Short Term Dynamics
    • 3.7. Long Term Dynamics
  • Chapter No. 4 Gas turbine Market – Design Type Segment Analysis
    • 4.1. Overview
      • 4.1.1. Market Revenue Share, By Design Type, 2020 & 2028
    • 4.2. Heavy duty
      • 4.2.1. Market Size and Forecast, By Region (USD Billion) (Tons)
      • 4.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.3. Aero-derivative
  • Chapter No. 5 Gas turbine Market – Application Segment Analysis
    • 5.1. Overview
      • 5.1.1. Market Revenue Share, By Application, 2020 & 2028
    • 5.2. Oil & Gas
      • 5.2.1. Market Size and Forecast, By Region (USD Billion) (Tons)
      • 5.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.3. Power generation
      • 5.3.1. Market Size and Forecast, By Region (USD Billion)
      • 5.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.4. Others
      • 5.4.1. Market Size and Forecast, By Region (USD Billion)
      • 5.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.4.3. Key Market Trends, Growth Factors, & Opportunities
    • 6.1. Overview
      • 6.1.1. Market Revenue Share, By Rated Capacity, 2020 & 2028
    • 6.2. 1 to 40 MW
      • 6.2.1. Market Size and Forecast, By Region (USD Billion) (Tons)
      • 6.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 6.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 6.3. 40 to 120 MW
      • 6.3.1. Market Size and Forecast, By Region (USD Billion) (Tons)
      • 6.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 6.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 6.4. 120 to 300 MW
      • 6.4.1. Market Size and Forecast, By Region (USD Billion) (Tons)
      • 6.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 6.4.3. Key Market Trends, Growth Factors, & Opportunities
    • 6.5. Above 300 MW
      • 6.5.1. Market Size and Forecast, By Region (USD Billion) (Tons)
      • 6.5.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 6.5.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 7 Gas turbine Market – Regional Analysis
    • 7.1. Overview
      • 7.1.1. Global Market Revenue Share, By Region, 2020 & 2028
      • 7.1.2. Global Market Revenue, By Region, 2016 – 2028 (USD Billion) (Tons)
    • 7.2. North America
      • 7.2.1. North America Market Revenue, By Country, 2016 – 2028 (USD Billion) (Tons)
      • 7.2.2. North America Market Revenue, By Design Type, 2016 – 2028
      • 7.2.3. North America Market Revenue, By Application, 2016 – 2028
      • 7.2.4. North America Market Revenue, By Rated Capacity, 2016 – 2028
      • 7.2.5. U.S.
        • 7.2.5.1. U.S. Market Revenue, By Design Type, 2016 – 2028
        • 7.2.5.2. U.S. Market Revenue, By Application, 2016 – 2028
        • 7.2.5.3. U.S. Market Revenue, By Rated Capacity, 2016 – 2028
      • 7.2.6. Canada
        • 7.2.6.1. Canada Market Revenue, By Design Type, 2016 – 2028
        • 7.2.6.2. Canada Market Revenue, By Application, 2016 – 2028
        • 7.2.6.3. Canada Market Revenue, By Rated Capacity, 2016 – 2028
      • 7.2.7. Mexico
        • 7.2.7.1. Mexico Market Revenue, By Design Type, 2016 – 2028
        • 7.2.7.2. Mexico Market Revenue, By Application, 2016 – 2028
        • 7.2.7.3. Mexico Market Revenue, By Rated Capacity, 2016 – 2028
    • 7.3. Europe
      • 7.3.1. Europe Market Revenue, By Country, 2016 – 2028 (USD Billion) (Tons)
      • 7.3.2. Europe Market Revenue, By Design Type, 2016 – 2028
      • 7.3.3. Europe Market Revenue, By Application, 2016 – 2028
      • 7.3.4. Europe Market Revenue, By Rated Capacity, 2016 – 2028
      • 7.3.5. Germany
        • 7.3.5.1. Germany Market Revenue, By Design Type, 2016 – 2028
        • 7.3.5.2. Germany Market Revenue, By Application, 2016 – 2028
        • 7.3.5.3. Germany Market Revenue, By Rated Capacity, 2016 – 2028
      • 7.3.6. France
        • 7.3.6.1. France Market Revenue, By Design Type, 2016 – 2028
        • 7.3.6.2. France Market Revenue, By Application, 2016 – 2028
        • 7.3.6.3. France Market Revenue, By Rated Capacity, 2016 – 2028
      • 7.3.7. U.K.
        • 7.3.7.1. U.K. Market Revenue, By Design Type, 2016 – 2028
        • 7.3.7.2. U.K. Market Revenue, By Application, 2016 – 2028
        • 7.3.7.3. U.K. Market Revenue, By Rated Capacity, 2016 – 2028
      • 7.3.8. Italy
        • 7.3.8.1. Italy Market Revenue, By Design Type, 2016 – 2028
        • 7.3.8.2. Italy Market Revenue, By Application, 2016 – 2028
        • 7.3.8.3. Italy Market Revenue, By Rated Capacity, 2016 – 2028
      • 7.3.9. Spain
        • 7.3.9.1. Spain Market Revenue, By Design Type, 2016 – 2028
        • 7.3.9.2. Spain Market Revenue, By Application, 2016 – 2028
        • 7.3.9.3. Spain Market Revenue, By Rated Capacity, 2016 – 2028
      • 7.3.10. Rest of Europe
        • 7.3.10.1. Rest of Europe Market Revenue, By Design Type, 2016 – 2028
        • 7.3.10.2. Rest of Europe Market Revenue, By Application, 2016 – 2028
        • 7.3.10.3. Rest of Europe Market Revenue, By Rated Capacity, 2016 – 2028
    • 7.4. Asia Pacific
      • 7.4.1. Asia Pacific Market Revenue, By Country, 2016 – 2028 (USD Billion) (Tons)
      • 7.4.2. Asia Pacific Market Revenue, By Design Type, 2016 – 2028
      • 7.4.3. Asia Pacific Market Revenue, By Application, 2016 – 2028
      • 7.4.4. Asia Pacific Market Revenue, By Rated Capacity, 2016 – 2028
      • 7.4.5. China
        • 7.4.5.1. China Market Revenue, By Design Type, 2016 – 2028
        • 7.4.5.2. China Market Revenue, By Application, 2016 – 2028
        • 7.4.5.3. China Market Revenue, By Rated Capacity, 2016 – 2028
      • 7.4.6. Japan
        • 7.4.6.1. Japan Market Revenue, By Design Type, 2016 – 2028
        • 7.4.6.2. Japan Market Revenue, By Application, 2016 – 2028
        • 7.4.6.3. Japan Market Revenue, By Rated Capacity, 2016 – 2028
      • 7.4.7. India
        • 7.4.7.1. India Market Revenue, By Design Type, 2016 – 2028
        • 7.4.7.2. India Market Revenue, By Application, 2016 – 2028
        • 7.4.7.3. India Market Revenue, By Rated Capacity, 2016 – 2028
      • 7.4.8. South Korea
        • 7.4.8.1. South Korea Market Revenue, By Design Type, 2016 – 2028
        • 7.4.8.2. South Korea Market Revenue, By Application, 2016 – 2028
        • 7.4.8.3. South Korea Market Revenue, By Rated Capacity, 2016 – 2028
      • 7.4.9. South-East Asia
        • 7.4.9.1. South-East Asia Market Revenue, By Design Type, 2016 – 2028
        • 7.4.9.2. South-East Asia Market Revenue, By Application, 2016 – 2028
        • 7.4.9.3. South-East Asia Market Revenue, By Rated Capacity, 2016 – 2028
      • 7.4.10. Rest of Asia Pacific
        • 7.4.10.1. Rest of Asia Pacific Market Revenue, By Design Type, 2016 – 2028
        • 7.4.10.2. Rest of Asia Pacific Market Revenue, By Application, 2016 – 2028
        • 7.4.10.3. Rest of Asia Pacific Market Revenue, By Rated Capacity, 2016 – 2028
    • 7.5. Latin America
      • 7.5.1. Latin America Market Revenue, By Country, 2016 – 2028 (USD Billion) (Tons)
      • 7.5.2. Latin America Market Revenue, By Design Type, 2016 – 2028
      • 7.5.3. Latin America Market Revenue, By Application, 2016 – 2028
      • 7.5.4. Latin America Market Revenue, By Rated Capacity, 2016 – 2028
      • 7.5.5. Brazil
        • 7.5.5.1. Brazil Market Revenue, By Design Type, 2016 – 2028
        • 7.5.5.2. Brazil Market Revenue, By Application, 2016 – 2028
        • 7.5.5.3. Brazil Market Revenue, By Rated Capacity, 2016 – 2028
      • 7.5.6. Argentina
        • 7.5.6.1. Argentina Market Revenue, By Design Type, 2016 – 2028
        • 7.5.6.2. Argentina Market Revenue, By Application, 2016 – 2028
        • 7.5.6.3. Argentina Market Revenue, By Rated Capacity, 2016 – 2028
      • 7.5.7. Rest of Latin America
        • 7.5.7.1. Rest of Latin America Market Revenue, By Design Type, 2016 – 2028
        • 7.5.7.2. Rest of Latin America Market Revenue, By Application, 2016 – 2028
        • 7.5.7.3. Rest of Latin America Market Revenue, By Rated Capacity, 2016 – 2028
    • 7.6. The Middle-East and Africa
      • 7.6.1. The Middle-East and Africa Market Revenue, By Country, 2016 – 2028 (USD Billion) (Tons)
      • 7.6.2. The Middle-East and Africa Market Revenue, By Design Type, 2016 – 2028
      • 7.6.3. The Middle-East and Africa Market Revenue, By Application, 2016 – 2028
      • 7.6.4. The Middle-East and Africa Market Revenue, By Rated Capacity, 2016 – 2028
      • 7.6.5. GCC Countries
        • 7.6.5.1. GCC Countries Market Revenue, By Design Type, 2016 – 2028
        • 7.6.5.2. GCC Countries Market Revenue, By Application, 2016 – 2028
        • 7.6.5.3. GCC Countries Market Revenue, By Rated Capacity, 2016 – 2028
      • 7.6.6. South Africa
        • 7.6.6.1. South Africa Market Revenue, By Design Type, 2016 – 2028
        • 7.6.6.2. South Africa Market Revenue, By Application, 2016 – 2028
        • 7.6.6.3. South Africa Market Revenue, By Rated Capacity, 2016 – 2028
      • 7.6.7. Rest of Middle-East Africa
        • 7.6.7.1. Rest of Middle-East Africa Market Revenue, By Design Type, 2016 – 2028
        • 7.6.7.2. Rest of Middle-East Africa Market Revenue, By Application, 2016 – 2028
        • 7.6.7.3. Rest of Middle-East Africa Market Revenue, By Rated Capacity, 2016 – 2028
  • Chapter No. 8 Gas turbine Market – Industry Analysis
    • 8.1. Introduction
    • 8.2. Market Drivers
      • 8.2.1. Driving Factor 1 Analysis
      • 8.2.2. Driving Factor 2 Analysis
    • 8.3. Market Restraints
      • 8.3.1. Restraining Factor Analysis
    • 8.4. Market Opportunities
      • 8.4.1. Market Opportunity Analysis
    • 8.5. Porter’s Five Forces Analysis
    • 8.6. PEST Analysis
    • 8.7. Regulatory Landscape
    • 8.8. Technology Landscape
    • 8.9. Regional Market Trends
      • 8.9.1. North America
      • 8.9.2. Europe
      • 8.9.3. Asia Pacific
      • 8.9.4. Latin America
      • 8.9.5. The Middle-East and Africa
    • 8.10. Pricing Analysis
    • 8.11. Value Chain Analysis
    • 8.12. Downstream Buyers
    • 8.13. Distributors/Traders List
  • Chapter No. 9 Competitive Landscape
    • 9.1. Company Market Share Analysis – 2019
      • 9.1.1. Global Gas turbine Market: Company Market Share, 2019
      • 9.1.2. Global Gas turbine Market, Company Market Revenue, 2016 – 2019 (USD Billion)
      • 9.1.3. Global Gas turbine Market, Company Y-o-Y Growth, 2017 – 2019 (%)
      • 9.1.4. Global Gas turbine Market: Radar Determinant Chart, 2019
    • 9.2. Strategic Developments
      • 9.2.1. Acquisitions & Mergers
      • 9.2.2. New Product Launch
      • 9.2.3. Regional Expansion
    • 9.3. Company Strategic Developments – Heat Map Analysis
  • Chapter No. 10 Company Profiles
    • 10.1. SIEMENS AG
      • 10.1.1. Company Overview
      • 10.1.2. Key Executives
      • 10.1.3. Product Portfolio
      • 10.1.4. Financial Overview
      • 10.1.5. Operating Business Segments
      • 10.1.6. Business Performance
      • 10.1.7. Recent Developments
    • 10.2. Alstom S.A
    • 10.3. Bharat Heavy Electricals Limited
    • 10.4. Mitsubishi Hitachi Power Systems
    • 10.5. General Electric Company
    • 10.6. AnsaldoEnergia S.P.A
  • Chapter No. 11 Marketing Strategy Analysis
    • 11.1. Marketing Channel
    • 11.2. Direct Marketing
    • 11.3. Indirect Marketing
    • 11.4. Marketing Channel Development Trends
    • 11.5. Economic/Pulitical Environmental Change
  • Chapter No. 12 Research Methodology
    • 12.1. Research Methodology
    • 12.2. Phase I - Secondary Research
    • 12.3. Phase II - Data Modeling
      • 12.3.1. Company Share Analysis Model
      • 12.3.2. Revenue Based Modeling
    • 12.4. Phase III - Primary Research
    • 12.5. Research Limitations
      • 12.5.1. Assumptions

List of Figures 

FIG NO. 1. Market Attractiveness Analysis, By Design Type
FIG NO. 2. Market Attractiveness Analysis, By Application
FIG NO. 3. Market Attractiveness Analysis, By Rated Capacity
FIG NO. 4. Market Attractiveness Analysis, By Region 
FIG NO. 5. Global Gas turbine Market Revenue, 2016 – 2028 (USD Billion)
FIG NO. 6. Impact of COVID-19 Pandemic in North America Countries
FIG NO. 7. Market Revenue Share, By Design Type, 2020 & 2028
FIG NO. 8. Global Gas turbine Market for Heavy duty, Revenue (USD Billion) 2016 – 2028
FIG NO. 9. Comparative Revenue Analysis of Gas turbine Market for Heavy duty, By Country, 2020 & 2028
FIG NO. 10. Global Gas turbine Market for Aero-derivative, Revenue (USD Billion) 2016 – 2028
FIG NO. 11. Comparative Revenue Analysis of Gas turbine Market for Aero-derivative, By Country, 2020 & 2028 
FIG NO. 12. Market Revenue Share, By Application, 2020 & 2028
FIG NO. 13. Global Gas turbine Market for Oil & Gas, Revenue (USD Billion) 2016 – 2028
FIG NO. 14. Comparative Revenue Analysis of Gas turbine Market for Oil & Gas, By Country, 2020 & 2028
FIG NO. 15. Global Gas turbine Market for Power generation, Revenue (USD Billion) 2016 – 2028
FIG NO. 16. Comparative Revenue Analysis of Gas turbine Market for Power generation, By Country, 2020 & 2028
FIG NO. 17. Global Gas turbine Market for Others, Revenue (USD Billion) 2016 – 2028
FIG NO. 18. Comparative Revenue Analysis of Gas turbine Market for Others, By Country, 2020 & 2028
FIG NO. 19. Market Revenue Share, By Rated Capacity, 2020 & 2028
FIG NO. 20. Global Gas turbine Market for 1 to 40 MW, Revenue (USD Billion) 2016 – 2028
FIG NO. 21. Comparative Revenue Analysis of Gas turbine Market for 1 to 40 MW, By Country, 2020 & 2028
FIG NO. 22. Global Gas turbine Market for 40 to 120 MW, Revenue (USD Billion) 2016 – 2028
FIG NO. 23. Comparative Revenue Analysis of Gas turbine Market for 40 to 120 MW, By Country, 2020 & 2028
FIG NO. 24. Global Gas turbine Market for 120 to 300 MW, Revenue (USD Billion) 2016 – 2028
FIG NO. 25. Comparative Revenue Analysis of Gas turbine Market for 120 to 300 MW, By Country, 2020 & 2028x`
FIG NO. 26. Global Gas turbine Market for Above 300 MW, Revenue (USD Billion) 2016 – 2028
FIG NO. 27. Comparative Revenue Analysis of Gas turbine Market for Above 300 MW, By Country, 2020 & 2028
FIG NO. 28. Global Gas turbine Market Revenue Share, By Region, 2020 & 2028
FIG NO. 29. North America Gas turbine Market Revenue, 2016 - 2028 (USD Billion)
FIG NO. 30. Porter’s Five Forces Analysis for Global Gas turbine Market
FIG NO. 31. PEST Analysis for Global Gas turbine Market
FIG NO. 32. Pricing Analysis for Global Gas turbine Market
FIG NO. 33. Value Chain Analysis for Global Gas turbine Market 
FIG NO. 34. Company Share Analysis, 2019
FIG NO. 35. Radar Determinant Chart, 2019
FIG NO. 36. Company Strategic Developments – Heat Map Analysis
FIG NO. 37. SIEMENS AG Business Segment Revenue Share, 2020 (%)
FIG NO. 38. SIEMENS AG Geographical Segment Revenue Share, 2020 (%)
FIG NO. 39. Market Channels
FIG NO. 40. Marketing Channel Development Trend
FIG NO. 41. Growth in World Gross Product, 2008-2018
FIG NO. 42. Research Methodology – Detailed View
FIG NO. 43. Research Methodology
 


List of Tables 

TABLE NO. 1. Global Gas turbine Market: Snapshot
TABLE NO. 2. Quarterly Gas turbine Market Revenue by Region, 2020
TABLE NO. 3. Quarterly Gas turbine Market Revenue Forecast by Region, 2021
TABLE NO. 4. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Billion)
TABLE NO. 5. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Billion)
TABLE NO. 6. Global Gas turbine Market for Heavy duty, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 7. Global Gas turbine Market for Aero-derivative, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 8. Global Gas turbine Market for Oil & Gas, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 9 Global Gas turbine Market for Power generation, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 10. Global Gas turbine Market for Others, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 11. Global Gas turbine Market for 1 to 40 MW, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 12. Global Gas turbine Market for 40 to 120 MW, by Region, 2016 – 2028 (USD Billion) 
TABLE NO. 13. Global Gas turbine Market for 120 to 300 MW, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 14. Global Gas turbine Market for Above 300 MW, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 15. Global Gas turbine Market Revenue, By Region, 2016 – 2028 (USD Billion)
TABLE NO. 16. North America Gas turbine Market Revenue, By Country, 2016 – 2028 (USD Billion)
TABLE NO. 17. North America Gas turbine Market Revenue, By Design Type, 2016 – 2028 (USD Billion)
TABLE NO. 18. North America Gas turbine Market Revenue, By Application, 2016 – 2028 (USD Billion)
TABLE NO. 19. North America Gas turbine Market Revenue, By Rated Capacity, 2016 – 2028 (USD Billion)
TABLE NO. 20. U.S. Gas turbine Market Revenue, By Design Type, 2016 – 2028 (USD Billion)
TABLE NO. 21. U.S. Gas turbine Market Revenue, By Application, 2016 – 2028 (USD Billion)
TABLE NO. 22. U.S. Gas turbine Market Revenue, By Rated Capacity, 2016 – 2028 (USD Billion)
TABLE NO. 23. Canada  Gas turbine Market Revenue, By Design Type, 2016 – 2028 (USD Billion)
TABLE NO. 24. Canada Gas turbine Market Revenue, By Application, 2016 – 2028 (USD Billion)
TABLE NO. 25. Canada Gas turbine Market Revenue, By Rated Capacity, 2016 – 2028 (USD Billion)
TABLE NO. 26. Mexico Gas turbine Market Revenue, By Design Type, 2016 – 2028 (USD Billion) 
TABLE NO. 27. Mexico Gas turbine Market Revenue, By Application, 2016 – 2028 (USD Billion)
TABLE NO. 28. Mexico Gas turbine Market Revenue, By Rated Capacity, 2016 – 2028 (USD Billion)
TABLE NO. 29. Drivers for the Gas turbine Market: Impact Analysis
TABLE NO. 30. Restraints for the Gas turbine Market: Impact Analysis
TABLE NO. 31. Major Buyers of Gas turbine
TABLE NO. 32. Distributors/Traders List of Gas turbine   
TABLE NO. 33. Global Gas turbine Market, Company Market Revenue, 2016 – 2019 (USD Billion)
TABLE NO. 34. Global Gas turbine Market, Company Y-o-Y Growth, 2017 – 2019 (USD Billion)

Methodology

This report is based on in-depth qualitative and quantitative analyses of the global Gas Turbines market. Zion Research has collected and analyzed key data belong to the global Gas Turbines market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.

The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.

Various parameters have been taken into account while estimating market size. The revenue generated by the leading industry participants in from the sales of Gas Turbines across the world has been calculated through primary and secondary research.

Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc. 

For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in validation of findings from secondary research and to understand key trends in the Gas Turbines industry. Primary research makes up the major source of data collection and validation.   

Primary Research

We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:

  • Provides firsthand information on market size, market trends, growth trends, competitive landscape, outlook, etc.
  • Helps in validating and strengthening the secondary research findings
  • Further, develops the analysis team’s expertise and market understanding
  • Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

Participants who typically participate in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts and research analysts specializing in specific markets

Key opinion leaders specializing in different areas corresponding to different industry verticals

Secondary Research

Secondary research sources that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • IDC and other relevant magazines
  • Internal and external proprietary databases, and relevant patent and regulatory databases
  • National government documents, statistical databases and market reports

News articles, press releases and webcasts specific to companies operating in the market

Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Gas Turbines market.

Models

Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:

  • Demographic data: Population split by segments
  • Macroeconomic indicators: GDP, PPP, Per Capita Income, etc.
  • Industry indicators: Expenditure, technology stage and infrastructure, sector growth and facilities
  • Data is then cross-checked by an expert panel.

Free Analysis

Turbines are the mechanical devices that take out energy from a variety of sources such as water, steam, and gas and transfer it into useful energy. A gas turbine also referred as a combustion turbine, is a type of inner combustion engine. Turbines are utilized for electricity generation from the different sources of energies, such as tidal and wind energy. Furthermore, turbines are used in aircraft’s engines. The first practical gas turbine used to generate electricity ran at Neuchatel, Switzerland in 1939 and was developed by the Brown Boveri Company. Gas turbines are an important part of distributed power technologies product group along with diesel and small wind turbines, solar panels, and gas reciprocating engines.

A key growth driver for gas turbine market is the increasing ability and durability of gas turbines. The rising efficiency of gas turbines is anticipated to the growth of the market in 2015. A strict carbon emission regulation across the globe is expected to fuel the gas turbines market in forthcoming years. The advancement in technology coupled with lower power generating cost and high performance of gas turbines are the key factors associated with the development of gas turbines market.Gas turbines are a highly important part of distributed power technologies product. Hence, development of distributed power systems can be transformed to an enhanced demand for gas turbines during the upcoming years.

Gas Turbines Market Revenue

Gas turbines market is segmented on the basis of design type, application, rated capacity and geography. On the basis of design type turbines, the market is segmented into heavy duty type and aero-derivative type gas turbines. By Application, the turbines market is segmented into oil & gas, power generation, and other industries. On the basis of rated capacity turbines are segmented into 1 to 40 MW, 40 to 120 MW, 120 to 300 MW, and above 300 MW. Above 300 MW rated capacity gas turbines has been emerged as potential segments due to rising demand worldwide and acquired a significant share of the overall market in 2015. On the basis of technology, the market is segmented into open cycle and closed cycle gas turbines. A combined cycle technology expected to be the dominant technology in global gas turbines market in the forecast period.

Global gas turbines market is expected to grow steadily in future. Asia Pacific dominated the gas turbines market in 2015, followed by North America and Europe. The biggest share of Asia Pacific region can be attributed to various factors such as rapid economic growth, industrialization, and the vast requirement for electric power from various countries in this region. Japan accounted for the largest share in gas turbines market in 2015.Latin America represents a region with a large potential for gas turbines market.

Companies in this industry are continuously striving for distinct and innovative ways to improve their market share and sales. Some of the well-established players in this market include Siemens AG, Alstom S.A, Bharat Heavy Electricals Limited, Mitsubishi Hitachi Power Systems, General Electric Company, AnsaldoEnergia S.P.A and among others.

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FrequentlyAsked Questions

The global Gas turbine market was valued at USD 15.9 Billion in 2020.

The global Gas turbine market is expected to reach USD 22.9 Billion by 2028, growing at a CAGR of 4.2% between 2021 to 2028.

Some of the key factors driving the global Gas turbine market growth are mounting efficiency and resilience of gas turbine, and stringent carbon emission rules around the world.

Of all the regional segments of the worldwide gas turbines market, the leading share in the overall market was held by Asia Pacific in 2015. This supremacy is mainly observed owing to the enormous population and elevated demand for electricity in this region. India and China are the most crowded nations in this region.

Some of the major companies operating in Gas turbine market are Siemens AG, Alstom S.A, Bharat Heavy Electricals Limited, Mitsubishi Hitachi Power Systems, General Electric Company, AnsaldoEnergia S.P.A and among others.

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