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Global Gas Turbines Market to reach USD 29.93 billion by 2027

Global Gas Turbines Market Size study, By Capacity (≤200 MW, >200 MW), By Technology (Open Cycle, Combined Cycle), By End-use (Industrial, Power & Utility), and Regional Forecasts 2020-2027

Product Code: CAMOAGI_58257822
Publish Date: 18-11-2020
Page: 200

Global Gas Turbines Market is valued approximately at USD 19.8 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 16.13% over the forecast period 2020-2027. The gas turbine is an engine that heats a mixture of fuel and atmospheric air at very high temperatures to produce mechanical energy through the spinning of the turbine blades. Mechanical energy often powers a generator that generates electrical energy. Favorable government policies on the reduction of greenhouse gas (GHG) emissions and the use of renewable fuels to produce electricity are projected to increase demand for natural gas power plants over coal-fired power plants. In addition, the discovery of shale gas reserves, along with declining gas prices, is expected to drive the demand over the forecast period. Over the last few years, gas turbines have seen exponential growth due to technological advances that have resulted in the design and development of highly efficient gas turbine units. Gas turbines are used in a range of facilities, from jet engines and basic field, sea and air mechanical drives to advanced gas lasers and supersonic wind tunnels. In aerospace applications, these units are referred to as jets, turbojets, turbochargers and turbochargers. In land and sea-based applications, these units are referred to as mechanical gas turbines. Gas turbines are increasingly being used in power plants, both in the utility and power industries, for their immense power generation capability, compactness, inherent flexibility, high efficiency, operational availability and multiple fuel capacity. The aerospace sector appears to be the most promising sector in the future due to growing investment in manufacturing and migration through different regions.

The regional analysis of global Gas Turbines Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific is projected to see the fastest CAGR over the forecast period, with China being the key contributor to regional demand growth. The State Power Investment Corporation (SPIC) of China entered into a strategic framework agreement with Siemens in July 2018. Under the technology partnership, Siemens will support the Chinese government ‘s independent design and production of heavy-duty gas turbines. Independent manufacturing is expected to boost China’s position on the global market.

Major market player included in this report are:
General Electric
Siemens AG
Mitsubishi Hitachi Power Systems, Ltd.
Kawasaki Heavy Industries, Ltd.
Bharat Heavy Electricals Limited
Ansaldo Energia S.P.A.
Solar Turbines Incorporated
Opra Turbines B.V.
Man Energy Solutions
Centrax Gas Turbines

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Capacity:
≤200 MW
>200 MW
By Technology:
Combined Cycle
Open Cycle
By End-User Industry:
Power & Utility
By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027

Target Audience of the Global Gas Turbines Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2027 (USD Billion)
1.2.1. Gas Turbines Market, by Region, 2018-2027 (USD Billion)
1.2.2. Gas Turbines Market, by Technology, 2018-2027 (USD Billion)
1.2.3. Gas Turbines Market, by Capacity, 2018-2027 (USD Billion)
1.2.4. Gas Turbines Market, by End-Use Industry, 2018-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Gas Turbines Market Definition & Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Gas Turbines Market Dynamics
3.1. Gas Turbines Market Impact Analysis (2018-2027)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Gas Turbines Market: Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2017-2027)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Gas Turbines Market, by Technology
5.1. Market Snapshot
5.2. Global Gas Turbines Market by Technology, Performance – Potential Analysis
5.3. Global Gas Turbines Market Estimates & Forecasts by Technology, 2017-2027 (USD Billion)
5.4. Gas Turbines Market, Sub Segment Analysis
5.4.1. Combined Cycle
5.4.2. Open Cycle
Chapter 6. Global Gas Turbines Market, by Capacity
6.1. Market Snapshot
6.2. Global Gas Turbines Market by Capacity, Performance – Potential Analysis
6.3. Global Gas Turbines Market Estimates & Forecasts by Capacity, 2017-2027 (USD Billion)
6.4. Gas Turbines Market, Sub Segment Analysis
6.4.1. ≤200 MW
6.4.2. >200 MW
Chapter 7. Global Gas Turbines Market, by End-Use Industry
7.1. Market Snapshot
7.2. Global Gas Turbines Market by End-Use Industry, Performance – Potential Analysis
7.3. Global Gas Turbines Market Estimates & Forecasts by End-Use Industry, 2017-2027 (USD Billion)
7.3.1. Power & Utility
7.3.2. Industrial
Chapter 8. Global Gas Turbines Market, Regional Analysis
8.1. Gas Turbines Market, Regional Market Snapshot
8.2. North America Gas Turbines Market
8.2.1. U.S. Gas Turbines Market Technology Technology breakdown estimates & forecasts, 2017-2027 Capacity breakdown estimates & forecasts, 2017-2027 End-Use Industry breakdown estimates & forecasts, 2017-2027
8.2.2. Canada Gas Turbines Market
8.3. Europe Gas Turbines Market Snapshot
8.3.1. U.K. Gas Turbines Market
8.3.2. Germany Gas Turbines Market
8.3.3. France Gas Turbines Market
8.3.4. Spain Gas Turbines Market
8.3.5. Italy Gas Turbines Market
8.3.6. Rest of Europe Gas Turbines Market
8.4. Asia-Pacific Gas Turbines Market Snapshot
8.4.1. China Gas Turbines Market
8.4.2. India Gas Turbines Market
8.4.3. Japan Gas Turbines Market
8.4.4. Australia Gas Turbines Market
8.4.5. South Korea Gas Turbines Market
8.4.6. Rest of Asia Pacific Gas Turbines Market
8.5. Latin America Gas Turbines Market Snapshot
8.5.1. Brazil Gas Turbines Market
8.5.2. Mexico Gas Turbines Market
8.6. Rest of The World Gas Turbines Market

Chapter 9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. General Electric Key Information Overview Financial (Subject to Data Availability) Industry Summary Recent Developments
9.2.2. Siemens AG
9.2.3. Mitsubishi Hitachi Power Systems, Ltd.
9.2.4. Kawasaki Heavy Industries, Ltd.
9.2.5. Bharat Heavy Electricals Limited
9.2.6. Ansaldo Energia S.P.A.
9.2.7. Solar Turbines Incorporated
9.2.8. Opra Turbines B.V.
9.2.9. Man Energy Solutions
9.2.10. Centrax Gas Turbines
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

The study of the market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geographies to provide a better regional outlook. In the report, country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. Our analysts contact company executives, managers, key opinion leaders, and industry experts. This enables our analyst to derive the closest possible figures without any major deviations in the actual number.

Primary Research Sources:

  • Interview conducted with raw material suppliers & manufacturers.
  • Interview conducted with manufacturers, suppliers & distributors, researchers, & representatives of regulatory bodies.
  • Interview conducted with market players, industry experts, & independent consultants.
  • Secondary Research Sources:
  • Purchased Database: D&B Hoovers, Bloomberg, Inc., Business Information Industry Association, NAICS Association.
  • Internal Database: White papers, Certified Publications, Articles by Recognized Authors and Regulatory Bodies.
  • Government Databases: Food and Agriculture Organization (FAO), European Industrial Hemp Association (EIHA), World Health Organization (WHO), Food and Drug Administration (FDA), International Telecommunication Union (ITU), United States Department of Agriculture (USDA), International organization of Motor Vehicle Manufacturers (OICA).

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