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Gas Turbine Market Size to Grow by USD 2.54 billion | Enhanced Efficiency and Robustness of Gas Turbines to Drive Growth | Technavio

NEW YORK , May 11, 2022 /PRNewswire/ -- The gas turbine market has been segmented by technology (CCGT and OCGT), product (heavy-duty gas turbine and aeroderivative gas turbine), end-user (power generation, mobility, oil and gas, and others), and geography (APAC, North America, Europe, MEA, and South America). The market size is expected to increase by USD 2.54 billion from 2020 to 2025 at an accelerated CAGR of 1.88%, according to the recent market study by Technavio.

Technavio has announced its latest market research report titled Gas Turbine Market by Product, End-user, Technology, and Geography - Forecast and Analysis 2021-2025

Segmentation by technology (In-Scope/Out-of-Scope)

  • In-Scope:
    • CCGT:

The gas turbine market share growth by the CCGT segment will be significant during the forecast period. CCGT can make use of any type of fuel, such as coal, gas, nuclear, or solar energy, as the heat is supplied externally to the working fluid.

  • Out-of-Scope:
    • OCGT

To gain further insights on the market contribution of various segments Request a sample report

Vendor Insights-

The gas turbine market is fragmented, and the vendors are deploying growth strategies such as product launches and business expansions to compete in the market. Some of the key vendors in the market include Ansaldo Energia Spa, Bharat Heavy Electricals Ltd., Capstone Green Energy Corp., Caterpillar Inc., General Electric Co., IHI Corp., Kawasaki Heavy Industries Ltd., Mitsubishi Heavy Industries Ltd., OPRA Turbines, and Siemens AG among others.

Find additional highlights on the vendors and their product offerings. Download a Sample Report

Learn More about Key Driver & Challenge of the Market-

  • Gas Turbine Market Driver:
    • Enhanced efficiency and robustness of gas turbines:

The demand for gas turbines is expected to increase, owing to their increased efficiency, the implementation of strict carbon emission regulations, and the reduction in the cost of power generation when gas turbines are used. Leading manufacturers are investing heavily in the development of high-efficiency gas turbines and are constantly looking for gas turbines with better efficiencies, which will fuel the growth of the global gas turbine market during the forecast period. 

  • Gas Turbine Market Challenge:
    • Inherent challenges of handling natural gas:

There is a risk of gas leaks into the atmosphere in gas-fired power plants. Natural gas consists of methane, which is odorless and 82 times more potent than carbon dioxide, in terms of global warming. Incidents related to natural gas storage leaking are a major concern for environmentalists who monitor global warming. Hence, the governments of various countries are expected to come up with stringent gas storage regulations for natural gas-powered gas turbine power plants, which will hinder the growth of the global gas turbine market during the forecast period. 

Find additional information about various other market Drivers & Challenges mentioned in our sample report.

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Gas Turbine Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 1.88%

Market growth 2021-2025

USD 2.54 billion

Market structure

Fragmented

YoY growth (%)

1.58

Regional analysis

APAC, North America, Europe, MEA, and South America

Performing market contribution

APAC at 39%

Key consumer countries

US, China, Japan, India, and Germany

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Ansaldo Energia Spa, Bharat Heavy Electricals Ltd., Capstone Green Energy Corp., Caterpillar Inc., General Electric Co., IHI Corp., Kawasaki Heavy Industries Ltd., Mitsubishi Heavy Industries Ltd., OPRA Turbines, and Siemens AG

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value chain analysis: Heavy electrical equipment

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
  • 3.4 Market outlook: Forecast for 2020 - 2025
    • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
    • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

4 Five Forces Analysis

  • 4.1 Five forces summary
    • Exhibit 08: Five forces analysis 2020 & 2025
  • 4.2 Bargaining power of buyers
    • Exhibit 09: Bargaining power of buyers
  • 4.3 Bargaining power of suppliers
    • Exhibit 10: Bargaining power of suppliers
  • 4.4 Threat of new entrants
    • Exhibit 11: Threat of new entrants
  • 4.5 Threat of substitutes
    • Exhibit 12: Threat of substitutes
  • 4.6 Threat of rivalry
    • Exhibit 13: Threat of rivalry
  • 4.7 Market condition
    • Exhibit 14: Market condition - Five forces 2020

5 Market Segmentation by Product

  • 5.1 Market segments
    • Exhibit 15: Product - Market share 2020-2025 (%)
  • 5.2 Comparison by Product
    • Exhibit 16: Comparison by Product
  • 5.3 Heavy-duty gas turbine - Market size and forecast 2020-2025
    • Exhibit 17: Heavy-duty gas turbine - Market size and forecast 2020-2025 ($ million)
    • Exhibit 18: Heavy-duty gas turbine - Year-over-year growth 2020-2025 (%)
  • 5.4 Aeroderivative gas turbine - Market size and forecast 2020-2025
    • Exhibit 19: Aeroderivative gas turbine - Market size and forecast 2020-2025 ($ million)
    • Exhibit 20: Aeroderivative gas turbine - Year-over-year growth 2020-2025 (%)
  • 5.5 Market opportunity by Product
    • Exhibit 21: Market opportunity by Product

6 Market Segmentation by Technology

  • 6.1 Market segments
    • Exhibit 22: Technology - Market share 2020-2025 (%)
  • 6.2 Comparison by Technology
    • Exhibit 23: Comparison by Technology
  • 6.3 CCGT - Market size and forecast 2020-2025
    • Exhibit 24: CCGT - Market size and forecast 2020-2025 ($ million)
    • Exhibit 25: CCGT - Year-over-year growth 2020-2025 (%)
  • 6.4 OCGT - Market size and forecast 2020-2025
    • Exhibit 26: OCGT - Market size and forecast 2020-2025 ($ million)
    • Exhibit 27: OCGT - Year-over-year growth 2020-2025 (%)
  • 6.5 Market opportunity by Technology
    • Exhibit 28: Market opportunity by Technology

7 Market Segmentation by End-user

  • 7.1 Market segments
    • Exhibit 29: End-user - Market share 2020-2025 (%)
  • 7.2 Comparison by End-user
    • Exhibit 30: Comparison by End-user
  • 7.3 Power generation - Market size and forecast 2020-2025
    • Exhibit 31: Power generation - Market size and forecast 2020-2025 ($ million)
    • Exhibit 32: Power generation - Year-over-year growth 2020-2025 (%)
  • 7.4 Mobility - Market size and forecast 2020-2025
    • Exhibit 33: Mobility - Market size and forecast 2020-2025 ($ million)
    • Exhibit 34: Mobility - Year-over-year growth 2020-2025 (%)
  • 7.5 Oil and gas - Market size and forecast 2020-2025
    • Exhibit 35: Oil and gas - Market size and forecast 2020-2025 ($ million)
    • Exhibit 36: Oil and gas - Year-over-year growth 2020-2025 (%)
  • 7.6 Others - Market size and forecast 2020-2025
    • Exhibit 37: Others - Market size and forecast 2020-2025 ($ million)
    • Exhibit 38: Others - Year-over-year growth 2020-2025 (%)
  • 7.7 Market opportunity by End-user
    • Exhibit 39: Market opportunity by End-user

8 Customer landscape

9 Geographic Landscape

  • 9.1 Geographic segmentation
    • Exhibit 41: Market share by geography 2020-2025 (%)
  • 9.2 Geographic comparison
    • Exhibit 42: Geographic comparison
  • 9.3 APAC - Market size and forecast 2020-2025
    • Exhibit 43: APAC - Market size and forecast 2020-2025 ($ million)
    • Exhibit 44: APAC - Year-over-year growth 2020-2025 (%)
  • 9.4 North America - Market size and forecast 2020-2025
    • Exhibit 45: North America - Market size and forecast 2020-2025 ($ million)
    • Exhibit 46: North America - Year-over-year growth 2020-2025 (%)
  • 9.5 Europe - Market size and forecast 2020-2025
    • Exhibit 47: Europe - Market size and forecast 2020-2025 ($ million)
    • Exhibit 48: Europe - Year-over-year growth 2020-2025 (%)
  • 9.6 MEA - Market size and forecast 2020-2025
  • 9.7 South America - Market size and forecast 2020-2025
    • Exhibit 51: South America - Market size and forecast 2020-2025 ($ million)
    • Exhibit 52: South America - Year-over-year growth 2020-2025 (%)
  • 9.8 Key leading countries
    • Exhibit 53: Key leading countries
  • 9.9 Market opportunity by geography
    • Exhibit 54: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

  • 10.1 Market drivers
  • 10.2 Market challenges
    • Exhibit 55: Impact of drivers and challenges
  • 10.3 Market trends

11 Vendor Landscape

  • 11.1 Overview
    • Exhibit 56: Vendor landscape
  • 11.2 Landscape disruption
    • Exhibit 57: Landscape disruption
    • Exhibit 58: Industry risks

12 Vendor Analysis

  • 12.1 Vendors covered
    • Exhibit 59: Vendors covered
  • 12.2 Market positioning of vendors
    • Exhibit 60: Market positioning of vendors
  • 12.3 Ansaldo Energia Spa
    • Exhibit 61: Ansaldo Energia Spa - Overview
    • Exhibit 62: Ansaldo Energia Spa - Business segments
    • Exhibit 63: Ansaldo Energia- Key news
    • Exhibit 64: Ansaldo Energia Spa - Key offerings
    • Exhibit 65: Ansaldo Energia Spa - Segment focus
  • 12.4 Bharat Heavy Electricals Ltd.
    • Exhibit 66: Bharat Heavy Electricals Ltd. - Overview
    • Exhibit 67: Bharat Heavy Electricals Ltd. - Business segments
    • Exhibit 68: Bharat Heavy Electricals Ltd. - Key offerings
    • Exhibit 69: Bharat Heavy Electricals Ltd. - Segment focus
  • 12.5 Capstone Green Energy Corp.
    • Exhibit 70: Capstone Green Energy Corp. - Overview
    • Exhibit 71: Capstone Green Energy Corp. - Business segments
    • Exhibit 72: Capstone Green Energy Corp. - Key offerings
    • Exhibit 73: Capstone Green Energy Corp. - Segment focus
  • 12.6 Caterpillar Inc.
    • Exhibit 74: Caterpillar Inc. - Overview
    • Exhibit 75: Caterpillar Inc. - Business segments
    • Exhibit 76: Caterpillar Inc. - Key offerings
    • Exhibit 77: Caterpillar Inc. - Segment focus
  • 12.7 General Electric Co.
    • Exhibit 78: General Electric Co. - Overview
    • Exhibit 79: General Electric Co. - Business segments
    • Exhibit 80: General Electric Co. - Key offerings
    • Exhibit 81: General Electric Co. - Segment focus
  • 12.8 IHI Corp.
    • Exhibit 82: IHI Corp. - Overview
    • Exhibit 83: IHI Corp. - Business segments
    • Exhibit 84: IHI Corp. - Key offerings
    • Exhibit 85: IHI Corp. - Segment focus
  • 12.9 Kawasaki Heavy Industries Ltd.
    • Exhibit 86: Kawasaki Heavy Industries Ltd. - Overview
    • Exhibit 87: Kawasaki Heavy Industries Ltd. - Business segments
    • Exhibit 88: Kawasaki Heavy Industries Ltd. - Key offerings
    • Exhibit 89: Kawasaki Heavy Industries Ltd. - Segment focus
  • 12.10 Mitsubishi Heavy Industries Ltd.
    • Exhibit 90: Mitsubishi Heavy Industries Ltd. - Overview
    • Exhibit 91: Mitsubishi Heavy Industries Ltd. - Business segments
    • Exhibit 92: Mitsubishi Heavy Industries Ltd. - Key offerings
    • Exhibit 93: Mitsubishi Heavy Industries Ltd. - Segment focus
  • 12.11 OPRA Turbines
    • Exhibit 94: OPRA Turbines - Overview
    • Exhibit 95: OPRA Turbines - Product and service
    • Exhibit 96: OPRA Turbines - Key offerings
  • 12.12 Siemens AG
    • Exhibit 97: Siemens AG - Overview
    • Exhibit 98: Siemens AG - Business segments
    • Exhibit 99: Siemens AG - Key offerings
    • Exhibit 100: Siemens AG - Segment focus

13 Appendix

  • 13.1 Scope of the report
  • 13.2 Currency conversion rates for US$
    • Exhibit 101: Currency conversion rates for US$
  • 13.3 Research methodology
    • Exhibit 102: Research Methodology
    • Exhibit 103: Validation techniques employed for market sizing
    • Exhibit 104: Information sources
  • 13.4 List of abbreviations
    • Exhibit 105: List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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