ALL >> Business >> View Article
Gas Turbines Market Revenue To Hit $20.66 Billion By 2022
The gas turbines market is estimated to be USD 17.51 billion in 2017 and is projected to reach USD 20.66 billion by 2022, at a CAGR of 3.36%, from 2017 to 2022. The increasing demand for natural gas-fired power plants, rising demand for electricity, reduction in emissions of carbon dioxide, and availability of efficient power technology are driving the gas turbines market. Natural gas is the cleanliest source of fossil fuel used to support intermittent generation from renewable sources. Thus, an increase in the demand for natural gas power plants is expected as governments implement strict norms for the emission of carbon dioxide.
The shale gas boom in North America and decommissioning of nuclear plants in Europe are likely to boost the demand for gas turbines in these regions. The demand for gas turbines in the Middle East & Africa, Latin America, and Asia Pacific is expected to be influenced by the new gas-fired power plants and the upgrade of old existing thermal power plants in the regions. Natural gas price volatility and natural gas infrastructure concerns are the major restraining factors for the gas turbines market.
Scope of the Report:
• Power Generation
• Oil & Gas
• Other Industrial
• Less than 40 MW
• 40–120 MW
• 120–300 MW
• Above 300 MW
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=94641697
The power generation application segment is expected to be the fastest growing segment during the forecast period. The demand for electricity is growing due urbanization and industrialization. Gas turbines are used in open cycle and combined cycle plants. Combined cycle power plants are more efficient than steam turbines as they generate more power. Gas turbines are used in utilities for base load standby power and peak load applications. The power generated from combined cycle power plants have lower carbon dioxide emissions and governments are implementing stricter norms on such emissions. Thus, an increase in the demand for natural gas power plants will lead to the growth of the power generation segment. In the oil & gas application, gas turbines are used to pump natural gas through pipelines where a small part of the pumped gas serves as the fuel. Industrial gas turbines range from 1,000 to 50,000 HP, with a majority installed in the oil & gas industry.
The market in Asia Pacific is expected to grow at the highest CAGR from 2017 to 2022.
The market in Asia Pacific is currently the largest for gas turbines, followed by the North American and European markets. The Japanese market accounted for a majority share of the Asia Pacific market in 2016 while China is projected to grow at the highest CAGR, from 2017 to 2022 The slowdown in the nuclear power industry due to the Fukushima incident and the continuing replacement of nuclear and aging coal plants with gas-fired ones would continue to drive the Japanese gas turbines market. In developing countries such as China and India, the demand for gas turbines is spurred on by factors such as the increasing demand for electricity fueled by high levels of urbanization, industrialization, and infrastructural developments and the subsequent investments in developing new large gas-fired combined cycle power generation.
The leading players in the gas turbines market include GE (US), Siemens (Germany), MHPS (Japan), and Ansaldo (Italy).
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Shelly Singh
630 Dundee Road
Northbrook, IL 60062
Business Articles1. How To Find The Best Sports Club Decatur That Helps In Staying Fit?
Author: Maria Smith
2. What Are Some Of The Safety Components Available For Mobile Elevated Platforms?
Author: Alan Wood
3. The Biggest Question – Why Recycling Matters?
Author: Yes Full Circle
4. Samir Arora Founder Of Helios Capital Latest Interview
Author: Stock Investor
5. Gdp Advance Estimates For Fy20
Author: Stock Investor
6. Reason To Buy Your Own House
Author: Agrawal Construction
7. Engage The Best And Top Ranked Private Investigators For Quick Fraud, Abuse And Crime Control
Author: Logan Clarke
8. Photo Booth Hire Service In Sydney
Author: Joy Booth
9. Leading Manufacturers, Stockists, Supplier & Exporter For Motor Brush Spring.
Author: Mukesh Mehta
10. Properties Of Thermoplastic Material That Makes Its Preferred Choice
Author: Michael Luis
11. Documents Needed For Estate Planning
Author: Leon A. Elwell
12. Build A Feature-rich Live Streaming Platform With An Exemplary Periscope Clone Solution
13. Aditya Birla Sun Life Mutual Fund
14. Kotak Fmp Series 286 – 1355 Days Nfo Details
15. Copper Sulphate - Guidelines To Safety And First Aid Procedures
Author: Khushi Group