The global gas turbine market for power generation is expected to reach an estimated $13.2 billion by 2021 at a CAGR of 3.3% during the forecast period (from 2016 to 2021). The major drivers for the growth of gas turbine market are increasing focus on relatively cleaner energy sources and growing investment in gas-fired power generation due to its lower cost of generating electricity.
Emerging trends, which have a direct impact on the dynamics of the gas turbine industry, include increasing focus on gas turbine advancement in order to raise efficiency and development of high temperature materials for turbines.
A total of 69 figures / charts and 18 tables are provided in this 94-page report to help in your business decisions. Sample figures with some insights are shown below. To learn the scope of, benefits, companies researched and other details of this gas turbine market report, download the report brochure.
The study includes a forecast for the growth opportunities in the global gas turbine market for power generation by turbine size and region as follows:
Gas turbine market by turbine size [Volume (GW) and Value ($ billion) from 2010 to 2021]:
1 - 60 MW 61 -180 MW More than 180 MW
Gas turbine market by region [Volume (GW) and Value ($ billion) from 2010 to 2021]:
North America Europe APAC ROW Gas turbine companies profiled in this market report include General Electric, Siemens, and Mitsubishi Heavy Industries. Some gas turbine suppliers are opting for M&A as a strategic initiative for driving growth.
On the basis of comprehensive research, Lucintel forecasts that the gas turbine with size of ’more than 180 MW’ is expected to show above average growth during the forecast period. In this market, 1-60 MW, 61-180 MW, and more than 180 MW are the turbine sizes used for power generation. Within the gas turbine market, the ’61 MW to 180 MW’ turbine size is expected to remain the largest segment by both value and volume. High efficiency and low cost per MW are the major factors, which would spur growth for this segment over the forecast period.
ROW is expected to remain the largest market and is expected to witness the highest growth over the forecast period due to large scale demand for natural gas based power generation in the region.
Some of the features of “Growth Opportunities in the Global Gas Turbine Market for Power Generation 2016-2021: Trends, Forecast, and Opportunity Analysis” include:
Market size estimates: Growth opportunities in the global gas turbine market size estimation in terms of value ($B) and volume (GW) shipment.Trend and forecast analysis: Global gas turbine market trend (2010-2015) and forecast (2016-2021) by region and segment.Segmentation analysis: Global gas turbine market size by turbine size such as 1-60 MW, 61-180 M, and more than 180 MW Regional analysis: Global gas turbine market breakdown by key regions such as North America, Europe, APAC, and ROW.Growth opportunities: Analysis on growth opportunities in different turbine size and regions Strategic analysis: This includes M&A, new product development, competitive landscape, and expansion strategies in the global gas turbine market for power generation. Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for gas turbine market for power generation by turbine size (1 MW to 60 MW, 61 MW to 180 MW, and more than 180 MW) and region (North America, Europe, APAC, and ROW )?
Q.2. Which segment will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the drivers and challenges, and business risks in gas turbine market?
Q.5. What are the business risks and competitive threats in gas turbine market?
Q.6. What are emerging trends in this gas turbine market and reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market and gas turbine companies are leading these developments?
Q.9. Who are the major gas turbine manufacturers? What strategic initiatives are being taken by key players for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by product substitution?
Q.11. What M & A activity by the major gas turbine suppliers in the last 5 years? And what is its impact on the industry?