MarkNtel Advisors recently published a detailed industry analysis of the Global Gas Turbine. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.
Global Gas Turbine, Share, and Trends Analysis Report – Industry Overview and Forecast to 2030
The Gas Turbine Market size is projected to grow at a CAGR of around 5.3% during the forecast period, i.e., 2024-30.
Key Findings in Global Gas Turbine:
- Historical Analysis: 2019–2022
- Base Year: 2023
- Forecast Period: 2024–2030
Leading Market Players-
Ansaldo Energia, Bharat Heavy Electricals Limited, Capestone Green Energy Corporation, Caterpillar Inc. (Solar Turbines Incorporated), General Electric, Harbin Electric Corporation, IHI Corporation, Kawasaki Heavy Industries. Ltd. , Mitsubishi Heavy Industries Ltd., Siemens Energy, Rolls-Royce Plc, Destinus Energy, MTU Aero Engines, Centrax Gas Turbine, Others
Key Highlights of the Report
- Market Dimensions & Projections
- Pricing Evaluation,
- Recent Strategic Moves by Companies,
- Primary Stakeholders,
- Analysis of Import and Export Trends,
- Competitive Landscape Assessment,
- Emerging Opportunities,
- Market Trends and Indicators
What are the major Driver the Global Gas Turbine industry?
Increasing Electricity Demand – In fact, one of the key factors propelling the growth of the Global Gas Turbine Market is rising electricity demand. Population growth, economic expansion, and industrialization all contribute to an increase in the need for electricity. Because they are a flexible and effective method of producing electricity, gas turbines are growing in popularity.
One of the most effective kinds of power plants accessible is the gas turbine. Compared to other types of power plants, including coal-fired facilities, they have an efficiency of over 50% in converting the fuel's energy into electricity. In addition, gas turbines produce fewer carbon emissions than other kinds of power plants, like coal-fired ones. Because of this, gas turbines are the most popular means of supplying the growing need for power, which is expected to boost the market size during the forecast period.
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What segments define the Global Gas Turbine from 2024 to 20230? How do these segments contribute to market dynamics and growth?
By Technology
- Open Cycle - Market Size & Forecast 2019-2030F, USD Million
- Combined Cycle - Market Size & Forecast 2019-2030F, USD Million
According to report, In the Global Gas Turbine Market, the combined cycle segment is leading. Over 88% of the worldwide gas turbine market's revenue was generated by the combined cycle segment in 2023.
By Design Type
- Heavy Duty- Market Size & Forecast 2019-2030F, USD Million
- Aero-derivative- Market Size & Forecast 2019-2030F, USD Million
By Rating Capacity
- 1-40 MW- Market Size & Forecast 2019-2030F, USD Million
- 41- 120 MW- Market Size & Forecast 2019-2030F, USD Million
- 121- 300 MW- Market Size & Forecast 2019-2030F, USD Million
- Above 300 MW- Market Size & Forecast 2019-2030F, USD Million
By End User
- Industrial Power Generation- Market Size & Forecast 2019-2030F, USD Million
- Oil & Space- Market Size & Forecast 2019-2030F, USD Million
- Municipality- Market Size & Forecast 2019-2030F, USD Million
- Other Industries (Manufacturing, Aerospace, etc.)- Market Size & Forecast 2019-2030F, USD Million
According to report, Due to their great efficiency and versatility as power generating sources, gas turbines are most commonly used in the power generation sector globally.
Explore the Complete Global Gas Turbine Analysis Report – https://www.marknteladvisors.com/research-library/gas-turbine-market.html
Geographical Analysis: Global Gas Turbine Market
By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
Global Gas Turbine Market Recent Development:
- In 2022, Edra Energy's 2.2 GW combined cycle power plant, the largest gas-based power plant in Malaysia, started up at Alor Gajah, Malacca. The new facility has three generating blocks, each with a capacity of more than 745 MW.
Key Questions Addressed in This Study
- What are the primary factors driving the growth of the Global Gas Turbine?
- How is the Global Gas Turbine expected to evolve over the next five years?
- What key insights can be drawn from current trends shaping the market?
- What is the current market size, and how is it forecasted to change in the coming years?
- What is the future outlook for the market in terms of technological innovation and geographic expansion?
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Why MarkNtel Advisors?
MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
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