Market Overview

According to projections, the Gas Turbine Market would expand at a compound annual growth rate (CAGR) of 6.42% from USD 14.44 billion in 2022 to USD 26.81 billion by 2030.

The gas turbine market research report offers a comprehensive analysis of the global gas turbine market and its application, region, technology, and capacity segments. The high cost along with need for physical space are the elements that could influence the gas turbine market advancement throughout the forecast period. The gas turbine market research report by expert analysts is developed to assist organizations in the gas turbine market.

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Key Players:

• General Electric (U.S.)
• Siemens (Germany)
• Mitsubishi Heavy Industries Ltd. (Japan)
• Alstom S.A (France)
• Kawasaki Heavy Industries
• (Japan)
• Bharat Heavy Electricals Limited. (India)
• Ansaldo Energia, (Italy)
• Rolls-Royce Holdings plc. (U.K)
• Harbin Electric Company Limited. (China)

Market Segmentation

The global gas turbine market has been segmented based on application, region, technology, and capacity. On the basis of application, the market for gas turbine is segmented based on power generation, industrial, and aviation. Additionally, the market on the basis of technology, is segmented into open cycle and combined cycle. The global market for gas turbine is also covered based on capacity segment which is further split into up to 200 mw above 200 mw.

Major elements such as budget constraints could obstruct the gas turbine market growth. However, according to the gas turbine market research report, overhaul in electricity generation infrastructure  along with growing natural gas demand and supply will propel growth throughout the forecast period. The gas turbine market is set to register growth at a high CAGR owing to these key factors. The exploration of application, region, technology, and capacity segments along with regional markets has been given in the global gas turbine market research report. The research analysts studying the gas turbine market have put out market forecasts in the gas turbine market research report in order to support gas turbine market-based companies. The gas turbine market research report provides an extensive understanding of the gas turbine market based on the information and forecasts till 2023.

Regional Overview

North America, Europe, Asia Pacific and the rest of the world regional market for gas turbine are predominantly covered in the global gas turbine market research report. Country-level gas turbine markets spread across North America – the United States, Canada, and Mexico are also covered in the report. In South America – Brazil and other country-level gas turbine markets are covered in the report. In Asia-Pacific (APAC) region, the country-level gas turbine markets covered are Japan, India, China, and others. The gas turbine market research report also explores the regional market for gas turbine present in Europe in the United Kingdom, France, Italy, Spain, and Germany, etc. The gas turbine market research report also covers regional markets from the rest of the world alongside gas turbine markets of Africa and the Middle East.

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Competitive Landscape

Stringent emission norms for gas turbine and accelerating pace of technological advancement are presumed to drive the gas turbine market growth worldwide. The global gas turbine market could be challenged by stringent rules, nevertheless, organizations in the gas turbine market will carry the growth rate forward. The gas turbine market research report presents company profiles of major companies active in the gas turbine market globally. Furthermore, the global gas turbine market report offers an all-inclusive analysis of the market collected from the gas turbine market’s primary and secondary sources covering both decision makers and thought leaders. The gas turbine market research report highlights such key areas assisting businesses operating in the gas turbine market to build better growth strategies.

Industry News

Rolls-Royce signed a distribution agreement with TMH Foreign, the international branch of the Russian TMH Group, to sell the Bergen Engine’s medium-speed gas and diesel engine industry to around EUR150 million. The change is part of the Rolls-Royce objective of rising disposals to the tune of at least £ 2 billion and the Norwegian company will be run as a separate company in Argentina, Germany, Israel and South Africa by TMH International.

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