Aeroderivative Gas Turbine Market Is Likely to Experience a Strong Growth During 2020-2025
July 23,2021/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Aeroderivative Gas Turbine Market.
Aeroderivative Gas Turbine Market is likely to witness a CAGR of 8.8% during the forecast period. The prime factors that are driving the aeroderivative gas turbine market are increasing investment towards power & heat generation facilities and government supports in terms of rebates, incentives, and subsidies.
Aeroderivative gas turbines are lightweight configurations of gas turbines designed in such a way that fuel and air are mixed and ignited in one system to achieve desired output such as heat, electrical and mechanical energy. In this report, the market is segmented on the basis of capacity type into (<50 kW, 50 kW to 500 kW, >500 kW to 1 MW, >1 MW to 30 MW, >30 MW to 70 MW, and >70 MW. On the basis of technology type into open cycle and combine cycle. And based on the application type into Power Plants, Oil & Gas, Process Plants, Aviation, Marine, and Others.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Based on the capacity type, the market is segmented as < 50 KW, 50 kW to 500 KW, 500 KW to 1 MW, 1 MW to 30 MW, 30 MW to 70 MW, > 70 MW. The >70 MW segment dominated the market in 2019, and is expected to maintain its position during the forecast period. Growing demand for energy from wide array of sectors is likely to drive the growth of the market.
Based on the application type, the market is segmented as power plants, oil & gas, process plants, aviation, marine, and others. The aviation segment held the largest share of the market and is also expected to witness a healthy growth during the forecast period. Huge aircraft fleet size along with continuous increase in demand for new aircraft to meet rising passenger traffic is the major factor behind the dominance of the aviation segment.
In terms of regions, Europe is estimated to be the largest market for aeroderivative gas turbines during the forecast period. Huge aircraft fleet size, significant demand from power plants and processing plants, expanding oil & gas and marine industries are the major factors behind the dominance of the region. North America and Asia-Pacific are also expected to witness a healthy demand for aeroderivative gas turbine during the forecast period.
Key Players:
- General Electric
- Siemens AG
- Mitsubishi Hitachi Power Systems, Ltd.
- Wärtsilä
- Kawasaki Heavy Industries Ltd.
- Opra Turbines B.V.
- Solar Turbines Incorporated
- Harbin Turbine Company Limited
- Bharat Heavy Electricals Limited
- Vericor Power Systems
- MAN Energy Solutions
- Capstone Turbine Corporation
- Cryostar
- UEC Saturn
- Zorya-Mashproekt.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Aeroderivative Gas Turbine Market analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors