“According to the research report published by Polaris Market Research, the global gas turbine market was valued at USD 22.25 billion in 2021 and is expected to reach USD 37.90 billion by 2030, to grow at a CAGR of 6.3% during the forecast period.”
The report delivers significant research data and proof to be a ready-to-access and self-analyzed study for managers, analysts, industry experts, and other key people, assisting them in making crucial business decisions. The report comprises qualitative and quantitative information on the Gas Turbine Market that provides historical data and growth forecast. It covers recent developments, technologies, and the changing investment structure of the market. The report is showcased with self-explained tables and charts in a presentable format.
The rising emphasis of the government on the development and the integration of the digital technology along with the increased spending on research & development is expected to drive the growth of the industry over the forecast period. There are several initiatives that are being taken by the government and the industry players to accelerate the advancements in the area of product technology.
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Moreover, increasing adoption of the industry to provide innovative solutions through the integration of the advanced technology along with the other systems is further creating lucrative prospects for industry growth during the forecast years. Based on the technology, the combined cycle gas turbine industry segment is expected to account for the largest market share over the forecast period owing to the several benefits associated with it including higher efficiency, low operating cost, and low emission.
Asia Pacific is likely to witness the largest revenue share in the global gas turbine industry. The high demand is attributed to the increased investment in research & development, technological advancements, along with the rising demand for this technology from several industries present across the region, is contributing to the potential growth of the industry.
Top Key Players:
- Ansaldo Energia
- Bharat Heavy Electricals Limited
- Capstone Green Energy Corporation
- Centrax Gas Turbine
- General Electric
- IHI Corporation
- Kawasaki Heavy Industries Ltd.
- Mapna Group
- Mitsubishi Heavy Industries Ltd.
- Mtu Aero Engines AG
- Opra Turbines
- Rolls-Royce Plc
- Siemens Energy
- Solar Turbines Incorporated
- United Engine Corporation
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Polaris market research has segmented the gas turbine market report on the basis of capacity, technology, end-use, and region:
Gas Turbine, Capacity Outlook (Revenue – USD Billion)
- ?200 MW
- >200 MW
Gas Turbine, Technology Outlook (Revenue – USD Billion)
- Open Cycle
- Combined Cycle
Gas Turbine, End-Use Outlook (Revenue – USD Billion)
- Power & Utility
- Industrial
Gas Turbine, Regional Outlook (Revenue – USD Billion)
- North America
- U.S.
- Canada
- Europe
- France
- Germany
- UK
- Italy
- Spain
- Netherlands
- Russia
- Asia Pacific
- China
- India
- Japan
- Malaysia
- South Korea
- Indonesia
- Latin America
- Mexico
- Brazil
- Argentina
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
Key Questions Answered with This Study
- What makes the market feasible for long-term investment?
- What geographic region would have better demand for products/services?
- What opportunity emerging territory would offer to established and new entrants in the market?
- How influencing factors driving the demand for Gas Turbine Market in the next few years?
- What is the impact analysis of various factors in the market growth?
- What strategies of major players help them acquire share in a mature market?
- What are the recent trends in the regional market?
- What will be the market-based future possibilities, development patterns, and Gas Turbine Market elements?
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