Global Gas Turbine Market Research Report Information By Type, By Rating Capacity, By End-User, By Technology and By Region

Description

List of Tables

Global Gas Turbine Market Research Report Information By Type (Industrial, Heavy Duty and Aeroderivative), By Rating Capacity (Less Than 40 MW, 40-120 MW, 121 To 300 MW and Above 300 MW), By End-User (Power Generation, Oil & Gas, Marine, Process Plants and Others), By Technology (Open Cycle and Combined Cycle) and By Region - Forecast to 2032

Market Overview

In 2023, the value of the gas turbine market was $30,375 million. The Gas Turbine Market industry is anticipated to experience a compound annual growth rate (CAGR) of 3.8% from USD 32,741 million in 2024 to USD 44,106 million by 2032. The demand for gas turbines is expected to increase during the forecast period, because of the growing demand for reliable and efficient power generation solutions. The necessity for consistent and reliable energy sources becomes increasingly urgent as the global economy continues to grow.

A consistent supply of electricity is essential for the efficient operation of residential areas, enterprises, and industries. Furthermore, the United Nations-published data indicates that the global population has increased by over threefold since the mid-20th century, from an estimated 2.5 billion in 1950 to 8.0 billion by mid-November 2022. This comprises an increase of 1 billion individuals since 2010 and 2 billion since 1998. The population is expected to increase by nearly 2 billion over the next 30 years, reaching 9.7 billion by 2050. It has the potential to reach a zenith of approximately 10.4 billion in the mid-2080s. The demand for electricity will increase as a consequence of this population growth. Gas turbines are essential in satisfying this demand, as they offer a dependable and efficient source of power generation.

Market segment insights

The Gas Turbine Market is segmented into industrial, heavy-duty, and aeroderivative based on type.

The robust construction and high efficiency of heavy-duty gas turbines make them ideal for industrial applications and large-scale power generation. This segment is further subdivided into three classes: E Class, F Class, and H Class. Each class represents a significant improvement in performance capabilities and technological advancements.

The Gas Turbine Market is segmented into four categories: Less Than 40 MW, 40-120 MW, 121-300 MW, and Above 300 MW. This segmentation is based on the rating capacity of the market.

The Gas Turbine Market is segmented into five categories: Power Generation, Oil & Gas, Marine, Process Plants, and Others. This segmentation was determined by the end-users.

The market is segmented into two categories: Open cycle and Combined cycle, which are determined by technology.

Regional Perspectives

The Gas Turbine Market is segmented by region in the study, with North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. The Gas Turbine Market is dominated by the Asia Pacific region. The gas turbine market in the Asia Pacific region is experiencing rapid development because of the region's urbanization, industrialization, and rising energy demand.

China is making substantial investments in gas turbine technology as part of its overarching strategy to transition to greener energy sources. The Chinese government is promoting natural gas as a key component of its energy mix, leading to the construction of new gas-fired power plants and the modernization of existing facilities.

Major Players

Key Companies in the Gas Turbine Market includes Siemens Energy, General Electric, Anslado Energia, IHI Corporation, MAPNA Group, Mitsubishi Heavy Industries, Ltd., Rolls-Royce, Bharat Heavy Electricals Limited, Solar Turbines Incorporated, and Baker Hughes.

Product Code: MRFR/E&P/2368-CR

1 EXECUTIVE SUMMARY

2 MARKET INTRODUCTION

2.1 DEFINITION
2.2 SCOPE OF THE STUDY
2.3 RESEARCH OBJECTIVE
2.4 MARKET STRUCTURE

3 RESEARCH METHODOLOGY

3.1 OVERVIEW
3.2 DATA FLOW
- 3.2.1 DATA MINING PROCESS
3.3 PURCHASED DATABASE:
3.4 SECONDARY SOURCES:
- 3.4.1 SECONDARY RESEARCH DATA FLOW:
3.5 PRIMARY RESEARCH:
- 3.5.1 PRIMARY RESEARCH DATA FLOW:
- 3.5.2 PRIMARY RESEARCH: NUMBER OF INTERVIEWS CONDUCTED
- 3.5.3 PRIMARY RESEARCH: REGIONAL COVERAGE
3.6 APPROACHES FOR MARKET SIZE ESTIMATION:
- 3.6.1 TRADE ANALYSIS APPROACH
3.7 DATA FORECASTING
- 3.7.1 DATA FORECASTING TECHNIQUE
3.8 DATA MODELING
- 3.8.1 MICROECONOMIC FACTOR ANALYSIS:
- 3.8.2 DATA MODELING:
3.9 TEAMS AND ANALYST CONTRIBUTION

4 MARKET DYNAMICS

4.1 INTRODUCTION
4.2 DRIVERS
- 4.2.1 INCREASING DEMAND FOR RELIABLE AND EFFICIENT POWER GENERATION SOLUTIONS
- 4.2.2 GROWING EMPHASIS ON CLEANER ENERGY SOURCES
4.3 RESTRAINT
- 4.3.1 HIGH INITIAL INVESTMENT COSTS
4.4 OPPORTUNITY
- 4.4.1 RISE IN THE ADOPTION OF COMBINED HEAT AND POWER (CHP) SYSTEMS
4.5 IMPACT ANALYSIS OF COVID-19
- 4.5.1 IMPACT ON SUPPLY CHAIN OF GAS TURBINE MARKET
- 4.5.2 IMPACT ON MARKET DEMAND OF GAS TURBINE MARKET

5 MARKET FACTOR ANALYSIS

5.1 SUPPLY/VALUE CHAIN ANALYSIS
- 5.1.1 RAW MATERIAL SUPPLIERS
- 5.1.2 MANUFACTURERS
- 5.1.3 DISTRIBUTION CHANNELS
- 5.1.4 END USERS
5.2 PORTER'S FIVE FORCES MODEL
- 5.2.1 THREAT OF NEW ENTRANTS
- 5.2.2 THREAT OF SUBSTITUTES
- 5.2.3 BARGAINING POWER OF SUPPLIERS
- 5.2.4 BARGAINING POWER OF BUYERS
- 5.2.5 INTENSITY OF RIVALRY
5.3 LIST OF END USER OF GAS TURBINE
- 5.3.1 LIST OF END USER OF HEAVY DUTY GAS TURBINE (COMPANY NAME, HEADQUARTER CONTACT DETAILS, NUMBER OF GT, OPERATION MODE, CAPACITY)
- 5.3.2 LIST OF END USER OF AERODERIVATIVE GAS TURBINE (COMPANY NAME, HEADQUARTER CONTACT DETAILS, NUMBER OF GT, OPERATION MODE, CAPACITY)

6 GLOBAL GAS TURBINE MARKET, BY TYPE

6.1 INTRODUCTION
- 6.1.1 INDUSTRIAL
- 6.1.2 HEAVY DUTY
- 6.1.3 AERODERIVATIVE

7 GLOBAL GAS TURBINE MARKET, BY RATING CAPACITY

7.1 INTRODUCTION
- 7.1.1 LESS THAN 40 MW
- 7.1.2 40 TO 120 MW
- 7.1.3 121 TO 300 MW
- 7.1.4 ABOVE 300 MW

8 GLOBAL GAS TURBINE MARKET, BY END-USER

8.1 INTRODUCTION
- 8.1.1 POWER GENERATION
- 8.1.2 OIL & GAS
- 8.1.3 MARINE
- 8.1.4 PROCESS PLANTS
- 8.1.5 OTHERS

9 GLOBAL GAS TURBINE MARKET, BY TECHNOLOGY

9.1 INTRODUCTION
- 9.1.1 OPEN CYCLE
- 9.1.2 COMBINED CYCLE

10 GLOBAL GAS TURBINE MARKET, BY REGION

10.1 INTRODUCTION
10.2 NORTH AMERICA
- 10.2.1 US
- 10.2.2 CANADA
- 10.2.3 MEXICO
10.3 EUROPE
- 10.3.1 GERMANY
- 10.3.2 FRANCE
- 10.3.3 UK
- 10.3.4 SPAIN
- 10.3.5 ITALY
- 10.3.6 POLAND
- 10.3.7 NETHERLANDS
- 10.3.8 BELGIUM
- 10.3.9 AUSTRIA
- 10.3.10 REST OF EUROPE
10.4 ASIA PACIFIC
- 10.4.1 CHINA
- 10.4.2 INDIA
- 10.4.3 JAPAN
- 10.4.4 MALAYSIA
- 10.4.5 SOUTH KOREA
- 10.4.6 REST OF ASIA PACIFIC
10.5 SOUTH AMERICA
- 10.5.1 BRAZIL
- 10.5.2 ARGENTINA
- 10.5.3 CHILE
- 10.5.4 REST OF SOUTH AMERICA
10.6 MIDDLE EAST & AFRICA
- 10.6.1 SAUDI ARABIA
- 10.6.2 QATAR
- 10.6.3 OMEN
- 10.6.4 UAE
- 10.6.5 SOUTH AFRICA
- 10.6.6 REST OF MIDDLE EAST & AFRICA

11 COMPETITIVE LANDSCAPE

11.1 INTRODUCTION
11.2 COMPETITION DASHBOARD
11.3 COMPANY MARKET SHARE ANALYSIS, 2023
11.4 COMPETITIVE BENCHMARKING
11.5 LEADING PLAYERS IN TERMS OF THE NUMBER OF DEVELOPMENTS IN THE GAS TURBINE MARKET
11.6 LIST OF KEY PLAYERS, BY REGION
11.7 LIST OF NON-OEM REPAIR CENTER / INDEPENDENT SERVICE CENTER
- 11.7.1 LIST OF NON-OEM REPAIR CENTER / INDEPENDENT SERVICE CENTER OF HEAVY DUTY GAS TURBINE
- 11.7.2 LIST OF NON-OEM REPAIR CENTER / INDEPENDENT SERVICE CENTER OF AERODERIVATIVE GAS TURBINE
11.8 LIST OF NON-OEM OR OEM SUPPLY CHAIN OF INPUT
- 11.8.1 HEAVY DUTY GAS TURBINE
  - 11.8.1.1 SUPPLIERS
  - 11.8.1.2 OEMS
  - 11.8.1.3 DISTRIBUTORS
  - 11.8.1.4 SERVICE PROVIDES
- 11.8.2 AERODERIVATIVE GAS TURBINE
  - 11.8.2.1 SUPPLIERS
  - 11.8.2.2 OEMS
  - 11.8.2.3 DISTRIBUTORS
  - 11.8.2.4 SERVICE PROVIDES
11.9 CURRENT MANUFACTURER GT PRODUCTION CAPACITY OF HEAVY DUTY, AERODERIVATIVE, AND INDUSTRIAL GAS TURBINES (IN UNITS)
11.10 COMPARATIVE ANALYSIS: KEY PLAYERS FINANCIAL, 2023
11.11 KEY DEVELOPMENTS & GROWTH STRATEGIES
- 11.11.1 CAPACITY EXPANSION
- 11.11.2 NEW PRODUCT LAUNCH
- 11.11.3 ACQUISITION
- 11.11.4 AGREEMENT
- 11.11.5 COLLABORATION
- 11.11.6 PARTNERSHIP
- 11.11.7 RECOGNITION
- 11.11.8 INNOVATION
- 11.11.9 CONTRACT

12 COMPANY PROFILES

12.1 SIEMENS ENERGY
- 12.1.1 COMPANY OVERVIEW
- 12.1.2 FINANCIAL OVERVIEW
- 12.1.3 PRODUCTS OFFERED
- 12.1.4 KEY DEVELOPMENTS
- 12.1.5 SWOT ANALYSIS
- 12.1.6 KEY STRATEGY
12.2 GENERAL ELECTRIC
- 12.2.1 COMPANY OVERVIEW
- 12.2.2 FINANCIAL OVERVIEW
- 12.2.3 PRODUCTS OFFERED
- 12.2.4 KEY DEVELOPMENTS
- 12.2.5 SWOT ANALYSIS
- 12.2.6 KEY STRATEGY
12.3 ANSLADO ENERGIA
- 12.3.1 COMPANY OVERVIEW
- 12.3.2 FINANCIAL OVERVIEW
- 12.3.3 PRODUCTS OFFERED
- 12.3.4 KEY DEVELOPMENTS
- 12.3.5 SWOT ANALYSIS
- 12.3.6 KEY STRATEGY
12.4 IHI CORPORATION
- 12.4.1 COMPANY OVERVIEW
- 12.4.2 FINANCIAL OVERVIEW
- 12.4.3 PRODUCTS OFFERED
- 12.4.4 KEY DEVELOPMENTS
- 12.4.5 SWOT ANALYSIS
- 12.4.6 KEY STRATEGY
12.5 MAPNA GROUP
- 12.5.1 COMPANY OVERVIEW
- 12.5.2 FINANCIAL OVERVIEW
- 12.5.3 PRODUCTS OFFERED
- 12.5.4 KEY DEVELOPMENTS
- 12.5.5 SWOT ANALYSIS
- 12.5.6 KEY STRATEGY
12.6 MITSUBISHI HEAVY INDUSTRIES
- 12.6.1 COMPANY OVERVIEW
- 12.6.2 FINANCIAL OVERVIEW
- 12.6.3 PRODUCTS OFFERED
- 12.6.4 KEY DEVELOPMENTS
- 12.6.5 SWOT ANALYSIS
- 12.6.6 KEY STRATEGY
12.7 BHARAT HEAVY ELECTRICALS LIMITED
- 12.7.1 COMPANY OVERVIEW
- 12.7.2 FINANCIAL OVERVIEW
- 12.7.3 PRODUCTS OFFERED
- 12.7.4 KEY DEVELOPMENTS
- 12.7.5 SWOT ANALYSIS
- 12.7.6 KEY STRATEGY
12.8 SOLAR TURBINES INCORPORATED
- 12.8.1 COMPANY OVERVIEW
- 12.8.2 FINANCIAL OVERVIEW (FOR A PARENT COMPANY CATERPILLAR INC.)
- 12.8.3 PRODUCTS OFFERED
- 12.8.4 KEY DEVELOPMENTS
- 12.8.5 SWOT ANALYSIS
- 12.8.6 KEY STRATEGY
12.9 ROLLS-ROYCE
- 12.9.1 COMPANY OVERVIEW
- 12.9.2 FINANCIAL OVERVIEW
- 12.9.3 PRODUCTS OFFERED
- 12.9.4 KEY DEVELOPMENTS
- 12.9.5 SWOT ANALYSIS
- 12.9.6 KEY STRATEGY
12.10 BAKER HUGHES
- 12.10.1 COMPANY OVERVIEW
- 12.10.2 FINANCIAL OVERVIEW
- 12.10.3 PRODUCTS OFFERED
- 12.10.4 KEY DEVELOPMENTS
- 12.10.5 SWOT ANALYSIS
- 12.10.6 KEY STRATEGY

13 DATA CITATIONS