PUBLISHER: IMARC | PRODUCT CODE: 1468392
PUBLISHER: IMARC | PRODUCT CODE: 1468392
Aeroderivative Gas Turbine Market by Capacity (Upto 1 MW, 1-30 MW, 30-70 MW, Above 70 MW), Technology (Open Cycle, Combined Cycle), Application (Power Plants, Oil and Gas, Process Plants, Aviation, Marine, and Others), and Region 2024-2032
The global aeroderivative gas turbine market size reached US$ 3.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 5.4 Billion by 2032, exhibiting a growth rate (CAGR) of 4.9% during 2024-2032. The widespread adoption of aeroderivative gas turbines across oil and gas industry, increasing environmental consciousness and the extensive product usage in the aviation industry represent some of the key factors driving the market.
Aeroderivative gas turbines represent a lightweight version of conventional gas turbines which are specially designed for various air use, including airplanes. They are intended to combine and ignite fuel and air effectively to break gasoline fuel into smaller particles and burn the combustion process for atomizing and vaporing the fuel in varying proportions. Aeroderivative gas turbines are reliable, flexible, efficient, and cost-effective, and they provide cheaper power, better quality grid, and cleaner energy with lower emissions in comparison to reciprocating engines. Apart from this, they are dependable and offer high performance, simple maintenance, easy integration, and fast installation. Consequently, aeroderivative gas turbines are widely used in combined heat and power-generation operations.
Aeroderivative Gas Turbine Market Trends:
The widespread adoption of aeroderivative gas turbines across oil and gas industry represents one of the key factors driving the market growth. This can be attributed to the widespread utilization of decentralized renewable energy generation solutions, which is contributing to the market growth. In line with this, the increasing environmental concerns and the rising consciousness regarding the detrimental effects of using non-renewable energy sources, such as coal, petroleum, and fossils, are acting as another growth-inducing factor. Additionally, the implementation of numerous sustainable frameworks by governments has prompted manufacturers to constantly upgrade traditional power plants and employ aeroderivative gas turbines, which are supporting the market growth. Such mechanical solutions are highly-efficient as they reduce the emission of harmful gases, including nitrogen dioxide (NO2); therefore, they are utilized in applications wherein lightweight devices are required. Furthermore, the extensive deployment of aeroderivative gas turbines in the aeronautical industry to reduce vehicle weight is propelling the market growth. Additionally, the escalating passenger traffic and the rising need for clean energy alternatives have facilitated the demand for aeroderivative gas turbines in the aviation sector, which in turn, is further contributing to the market growth. Apart from this, the ongoing product diversification by key players and the continuous research and development (R&D) activities to enhance product efficacy are creating a positive outlook for the market. Other factors, such as the increasing product utilization across the defense sector, stringent energy efficiency measures in line with the rapid industrialization, and an enhanced focus on sustainable development, are driving the market toward growth further.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global aeroderivative gas turbine market, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on capacity, technology, and application.
Capacity Insights:
Upto 1 MW
1-30 MW
30-70 MW
Above 70 MW
The report has also provided a detailed breakup and analysis of the aeroderivative gas turbine market based on capacity. This includes upto 1 MW, 1-30 MW, 30-70 MW, and above 70 MW. According to the report, above 70 MW represented the largest segment.
Technology Insights:
Open Cycle
Combined Cycle
A detailed breakup and analysis of the aeroderivative gas turbine market based on the technology has also been provided in the report. This includes open and combined cycles. According to the report, combined cycle accounted for the largest market share.
Application Insights:
Power Plants
Oil and Gas
Process Plants
Aviation
Marine
Others
The report has also provided a detailed breakup and analysis of the aeroderivative gas turbine market based on the application. This includes power plants, oil and gas, process plants, aviation, marine, and others. According to the report, aviation represented the largest segment.
Regional Insights:
North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for aeroderivative gas turbines. Some of the factors driving the North America aeroderivative gas turbine market included the widespread product adoption across oil and gas and marine sectors, enhanced focus on sustainable development, and extensive research and development (R&D) activities.
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global aeroderivative gas turbine market. Detailed profiles of all major companies have also been provided. Some of the companies covered include Baker Hughes Company, General Electric Company, Mitsubishi Heavy Industries Ltd., MTU Aero Engines AG, Siemens AG,etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Questions Answered in This Report:
- How has the global aeroderivative gas turbine market performed so far and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global aeroderivative gas turbine market?
- What are the key regional markets?
- Which countries represent the most attractive aeroderivative gas turbine markets?
- What is the breakup of the market based on capacity?
- What is the breakup of the market based on technology?
- What is the breakup of the market based on the application?
- What is the competitive structure of the global aeroderivative gas turbine market?
- Who are the key players/companies in the global aeroderivative gas turbine market?
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Aeroderivative Gas Turbine Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Capacity
- 6.1 Upto 1 MW
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 1-30 MW
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 30-70 MW
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
- 6.4 Above 70 MW
- 6.4.1 Market Trends
- 6.4.2 Market Forecast
7 Market Breakup by Technology
- 7.1 Open Cycle
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Combined Cycle
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
8 Market Breakup by Application
- 8.1 Power Plants
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Oil and Gas
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Process Plants
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Aviation
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
- 8.5 Marine
- 8.5.1 Market Trends
- 8.5.2 Market Forecast
- 8.6 Others
- 8.6.1 Market Trends
- 8.6.2 Market Forecast
9 Market Breakup by Region
- 9.1 North America
- 9.1.1 United States
- 9.1.1.1 Market Trends
- 9.1.1.2 Market Forecast
- 9.1.2 Canada
- 9.1.2.1 Market Trends
- 9.1.2.2 Market Forecast
- 9.1.1 United States
- 9.2 Asia-Pacific
- 9.2.1 China
- 9.2.1.1 Market Trends
- 9.2.1.2 Market Forecast
- 9.2.2 Japan
- 9.2.2.1 Market Trends
- 9.2.2.2 Market Forecast
- 9.2.3 India
- 9.2.3.1 Market Trends
- 9.2.3.2 Market Forecast
- 9.2.4 South Korea
- 9.2.4.1 Market Trends
- 9.2.4.2 Market Forecast
- 9.2.5 Australia
- 9.2.5.1 Market Trends
- 9.2.5.2 Market Forecast
- 9.2.6 Indonesia
- 9.2.6.1 Market Trends
- 9.2.6.2 Market Forecast
- 9.2.7 Others
- 9.2.7.1 Market Trends
- 9.2.7.2 Market Forecast
- 9.2.1 China
- 9.3 Europe
- 9.3.1 Germany
- 9.3.1.1 Market Trends
- 9.3.1.2 Market Forecast
- 9.3.2 France
- 9.3.2.1 Market Trends
- 9.3.2.2 Market Forecast
- 9.3.3 United Kingdom
- 9.3.3.1 Market Trends
- 9.3.3.2 Market Forecast
- 9.3.4 Italy
- 9.3.4.1 Market Trends
- 9.3.4.2 Market Forecast
- 9.3.5 Spain
- 9.3.5.1 Market Trends
- 9.3.5.2 Market Forecast
- 9.3.6 Russia
- 9.3.6.1 Market Trends
- 9.3.6.2 Market Forecast
- 9.3.7 Others
- 9.3.7.1 Market Trends
- 9.3.7.2 Market Forecast
- 9.3.1 Germany
- 9.4 Latin America
- 9.4.1 Brazil
- 9.4.1.1 Market Trends
- 9.4.1.2 Market Forecast
- 9.4.2 Mexico
- 9.4.2.1 Market Trends
- 9.4.2.2 Market Forecast
- 9.4.3 Others
- 9.4.3.1 Market Trends
- 9.4.3.2 Market Forecast
- 9.4.1 Brazil
- 9.5 Middle East and Africa
- 9.5.1 Market Trends
- 9.5.2 Market Breakup by Country
- 9.5.3 Market Forecast
10 Drivers, Restraints, and Opportunities
- 10.1 Overview
- 10.2 Drivers
- 10.3 Restraints
- 10.4 Opportunities
11 Value Chain Analysis
12 Porters Five Forces Analysis
- 12.1 Overview
- 12.2 Bargaining Power of Buyers
- 12.3 Bargaining Power of Suppliers
- 12.4 Degree of Competition
- 12.5 Threat of New Entrants
- 12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
- 14.1 Market Structure
- 14.2 Key Players
- 14.3 Profiles of Key Players
- 14.3.1 Baker Hughes Company
- 14.3.1.1 Company Overview
- 14.3.1.2 Product Portfolio
- 14.3.1.3 Financials
- 14.3.1.4 SWOT Analysis
- 14.3.2 General Electric Company
- 14.3.2.1 Company Overview
- 14.3.2.2 Product Portfolio
- 14.3.2.3 Financials
- 14.3.2.4 SWOT Analysis
- 14.3.3 Mitsubishi Heavy Industries Ltd.
- 14.3.3.1 Company Overview
- 14.3.3.2 Product Portfolio
- 14.3.3.3 Financials
- 14.3.3.4 SWOT Analysis
- 14.3.4 MTU Aero Engines AG
- 14.3.4.1 Company Overview
- 14.3.4.2 Product Portfolio
- 14.3.4.3 Financials
- 14.3.4.4 SWOT Analysis
- 14.3.5 Siemens AG
- 14.3.5.1 Company Overview
- 14.3.5.2 Product Portfolio
- 14.3.5.3 Financials
- 14.3.5.4 SWOT Analysis
- 14.3.1 Baker Hughes Company
Kindly, note that this only represents a partial list of companies, and the complete list has been provided in the report.
List of Figures
- Figure 1: Global: Aeroderivative Gas Turbine Market: Major Drivers and Challenges
- Figure 2: Global: Aeroderivative Gas Turbine Market: Sales Value (in Billion US$), 2018-2023
- Figure 3: Global: Aeroderivative Gas Turbine Market Forecast: Sales Value (in Billion US$), 2024-2032
- Figure 4: Global: Aeroderivative Gas Turbine Market: Breakup by Capacity (in %), 2023
- Figure 5: Global: Aeroderivative Gas Turbine Market: Breakup by Technology (in %), 2023
- Figure 6: Global: Aeroderivative Gas Turbine Market: Breakup by Application (in %), 2023
- Figure 7: Global: Aeroderivative Gas Turbine Market: Breakup by Region (in %), 2023
- Figure 8: Global: Aeroderivative Gas Turbine (Upto 1 MW) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 9: Global: Aeroderivative Gas Turbine (Upto 1 MW) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 10: Global: Aeroderivative Gas Turbine (1-30 MW) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 11: Global: Aeroderivative Gas Turbine (1-30 MW) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 12: Global: Aeroderivative Gas Turbine (30-70 MW) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 13: Global: Aeroderivative Gas Turbine (30-70 MW) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 14: Global: Aeroderivative Gas Turbine (Above 70 MW) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 15: Global: Aeroderivative Gas Turbine (Above 70 MW) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 16: Global: Aeroderivative Gas Turbine (Open Cycle) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 17: Global: Aeroderivative Gas Turbine (Open Cycle) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 18: Global: Aeroderivative Gas Turbine (Combined Cycle) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 19: Global: Aeroderivative Gas Turbine (Combined Cycle) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 20: Global: Aeroderivative Gas Turbine (Power Plants) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 21: Global: Aeroderivative Gas Turbine (Power Plants) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 22: Global: Aeroderivative Gas Turbine (Oil and Gas) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 23: Global: Aeroderivative Gas Turbine (Oil and Gas) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 24: Global: Aeroderivative Gas Turbine (Process Plants) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 25: Global: Aeroderivative Gas Turbine (Process Plants) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 26: Global: Aeroderivative Gas Turbine (Aviation) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 27: Global: Aeroderivative Gas Turbine (Aviation) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 28: Global: Aeroderivative Gas Turbine (Marine) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 29: Global: Aeroderivative Gas Turbine (Marine) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 30: Global: Aeroderivative Gas Turbine (Other Applications) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 31: Global: Aeroderivative Gas Turbine (Other Applications) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 32: North America: Aeroderivative Gas Turbine Market: Sales Value (in Million US$), 2018 & 2023
- Figure 33: North America: Aeroderivative Gas Turbine Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 34: United States: Aeroderivative Gas Turbine Market: Sales Value (in Million US$), 2018 & 2023
- Figure 35: United States: Aeroderivative Gas Turbine Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 36: Canada: Aeroderivative Gas Turbine Market: Sales Value (in Million US$), 2018 & 2023
- Figure 37: Canada: Aeroderivative Gas Turbine Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 38: Asia-Pacific: Aeroderivative Gas Turbine Market: Sales Value (in Million US$), 2018 & 2023
- Figure 39: Asia-Pacific: Aeroderivative Gas Turbine Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 40: China: Aeroderivative Gas Turbine Market: Sales Value (in Million US$), 2018 & 2023
- Figure 41: China: Aeroderivative Gas Turbine Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 42: Japan: Aeroderivative Gas Turbine Market: Sales Value (in Million US$), 2018 & 2023
- Figure 43: Japan: Aeroderivative Gas Turbine Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 44: India: Aeroderivative Gas Turbine Market: Sales Value (in Million US$), 2018 & 2023
- Figure 45: India: Aeroderivative Gas Turbine Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 46: South Korea: Aeroderivative Gas Turbine Market: Sales Value (in Million US$), 2018 & 2023
- Figure 47: South Korea: Aeroderivative Gas Turbine Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 48: Australia: Aeroderivative Gas Turbine Market: Sales Value (in Million US$), 2018 & 2023
- Figure 49: Australia: Aeroderivative Gas Turbine Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 50: Indonesia: Aeroderivative Gas Turbine Market: Sales Value (in Million US$), 2018 & 2023
- Figure 51: Indonesia: Aeroderivative Gas Turbine Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 52: Others: Aeroderivative Gas Turbine Market: Sales Value (in Million US$), 2018 & 2023
- Figure 53: Others: Aeroderivative Gas Turbine Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 54: Europe: Aeroderivative Gas Turbine Market: Sales Value (in Million US$), 2018 & 2023
- Figure 55: Europe: Aeroderivative Gas Turbine Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 56: Germany: Aeroderivative Gas Turbine Market: Sales Value (in Million US$), 2018 & 2023
- Figure 57: Germany: Aeroderivative Gas Turbine Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 58: France: Aeroderivative Gas Turbine Market: Sales Value (in Million US$), 2018 & 2023
- Figure 59: France: Aeroderivative Gas Turbine Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 60: United Kingdom: Aeroderivative Gas Turbine Market: Sales Value (in Million US$), 2018 & 2023
- Figure 61: United Kingdom: Aeroderivative Gas Turbine Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 62: Italy: Aeroderivative Gas Turbine Market: Sales Value (in Million US$), 2018 & 2023
- Figure 63: Italy: Aeroderivative Gas Turbine Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 64: Spain: Aeroderivative Gas Turbine Market: Sales Value (in Million US$), 2018 & 2023
- Figure 65: Spain: Aeroderivative Gas Turbine Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 66: Russia: Aeroderivative Gas Turbine Market: Sales Value (in Million US$), 2018 & 2023
- Figure 67: Russia: Aeroderivative Gas Turbine Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 68: Others: Aeroderivative Gas Turbine Market: Sales Value (in Million US$), 2018 & 2023
- Figure 69: Others: Aeroderivative Gas Turbine Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 70: Latin America: Aeroderivative Gas Turbine Market: Sales Value (in Million US$), 2018 & 2023
- Figure 71: Latin America: Aeroderivative Gas Turbine Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 72: Brazil: Aeroderivative Gas Turbine Market: Sales Value (in Million US$), 2018 & 2023
- Figure 73: Brazil: Aeroderivative Gas Turbine Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 74: Mexico: Aeroderivative Gas Turbine Market: Sales Value (in Million US$), 2018 & 2023
- Figure 75: Mexico: Aeroderivative Gas Turbine Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 76: Others: Aeroderivative Gas Turbine Market: Sales Value (in Million US$), 2018 & 2023
- Figure 77: Others: Aeroderivative Gas Turbine Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 78: Middle East and Africa: Aeroderivative Gas Turbine Market: Sales Value (in Million US$), 2018 & 2023
- Figure 79: Middle East and Africa: Aeroderivative Gas Turbine Market: Breakup by Country (in %), 2023
- Figure 80: Middle East and Africa: Aeroderivative Gas Turbine Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 81: Global: Aeroderivative Gas Turbine Industry: Drivers, Restraints, and Opportunities
- Figure 82: Global: Aeroderivative Gas Turbine Industry: Value Chain Analysis
- Figure 83: Global: Aeroderivative Gas Turbine Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Aeroderivative Gas Turbine Market: Key Industry Highlights, 2023 & 2032
- Table 2: Global: Aeroderivative Gas Turbine Market Forecast: Breakup by Capacity (in Million US$), 2024-2032
- Table 3: Global: Aeroderivative Gas Turbine Market Forecast: Breakup by Technology (in Million US$), 2024-2032
- Table 4: Global: Aeroderivative Gas Turbine Market Forecast: Breakup by Application (in Million US$), 2024-2032
- Table 5: Global: Aeroderivative Gas Turbine Market Forecast: Breakup by Region (in Million US$), 2024-2032
- Table 6: Global: Aeroderivative Gas Turbine Market: Competitive Structure
- Table 7: Global: Aeroderivative Gas Turbine Market: Key Players
