Gas Turbines Market - Projected to Reach $20.6 Billion by 2022 - Research and Markets

The "Gas Turbines Market by Technology, Rating Capacity, Design Type, Application and Region - Global Forecast to 2022" report has been added to Research and Markets' offering.

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.

The heavy duty (frame) type gas turbines segment is expected to be the largest market, accounting for more than two-thirds of the total gas turbines market. The demand for gas turbines for power generation is expected to increase due to stringent emissions standards and high efficiency standards. Combined cycle plants with heavy duty turbines enable high flexibility and low emissions even in part load operations. Thus, with an increase in the number of gas-fired power plants, the demand for heavy duty gas turbines is expected to increase in the power generation sector.

Companies Mentioned

  • Ansaldo
  • BHEL
  • Centrax
  • GE
  • Harbin Electric
  • Kawasaki Heavy Industries
  • MHPS
  • Man Diesel
  • OPRA
  • Siemens
  • Solar Turbines
  • Vericor Power
  • Zorya

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Gas Turbines Market, By Technology

7 Gas Turbines Market, By Application

8 Gas Turbines Market, By Design Type

9 Gas Turbines Market, By Rated Capacity

10 Gas Turbines Market, By Region

11 Competitive Landscape

12 Company Profiles

For more information about this report visit https://www.researchandmarkets.com/research/kjmtpd/gas_turbines