Quick Overview of Gas Turbine Market
As indicated in the most recent market research report published by MarkNtel Advisors on ‘Gas Turbine Market’ the report offers a detailed evaluation of the market, featuring insights into the industry. It encompasses regional and competitor analysis, as well as recent advancements in the industry.
Gas Turbine Industry Size & Future Growth Potential
The Global Gas Turbine Market size is projected to grow at a CAGR of around 5.3% during the forecast period, i.e., 2024-30. Several reasons are propelling the market’s growth, including the growing need for cleaner energy sources & electricity, the expansion of the aviation sector, the growing trend of distributed power generation, technical developments, government initiatives and regulations, etc.
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Global Gas Turbine Market Driver:
Increasing Electricity Demand – In fact, one of the key factors propelling the growth of the Global Gas Turbine Market is rising electricity demand. Population growth, economic expansion, and industrialization all contribute to an increase in the need for electricity. Because they are a flexible and effective method of producing electricity, gas turbines are growing in popularity.
One of the most effective kinds of power plants accessible is the gas turbine. Compared to other types of power plants, including coal-fired facilities, they have an efficiency of over 50% in converting the fuel’s energy into electricity. In addition, gas turbines produce fewer carbon emissions than other kinds of power plants, like coal-fired ones. Because of this, gas turbines are the most popular means of supplying the growing need for power, which is expected to boost the market size during the forecast period.
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A Detailed Evaluation of Gas Turbine Industry Segmentation
An in-depth evaluation of a market offers accurate data for a particular industry to help the analyst make smart strategic investment choices. Forecasts for the industry are included for the Global/Regional/National levels in the report. This market study analyzes market trends for the year 2024-2030 for each market category.
By Technology
- Open Cycle – Market Size & Forecast 2019-2030F, USD Million
- Combined Cycle – Market Size & Forecast 2019-2030F, USD Million
By Design Type
- Heavy Duty- Market Size & Forecast 2019-2030F, USD Million
- Aero-derivative- Market Size & Forecast 2019-2030F, USD Million
By Rating Capacity
- 1-40 MW- Market Size & Forecast 2019-2030F, USD Million
- 41- 120 MW- Market Size & Forecast 2019-2030F, USD Million
- 121- 300 MW- Market Size & Forecast 2019-2030F, USD Million
- Above 300 MW- Market Size & Forecast 2019-2030F, USD Million
By End User
- Industrial Power Generation- Market Size & Forecast 2019-2030F, USD Million
- Oil & Space- Market Size & Forecast 2019-2030F, USD Million
- Municipality- Market Size & Forecast 2019-2030F, USD Million
- Other Industries (Manufacturing, Aerospace, etc.)- Market Size & Forecast 2019-2030F, USD Million
By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
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A detailed Analysis of Prominent Companies in the Gas Turbine Market as per MarkNel Advisors
The latest report by MarkNtel Advisors states that the top leading players of the Gas Turbine Market are:
Ansaldo Energia, Bharat Heavy Electricals Limited, Capestone Green Energy Corporation, Caterpillar Inc. (Solar Turbines Incorporated), General Electric, Harbin Electric Corporation, IHI Corporation, Kawasaki Heavy Industries. Ltd. , Mitsubishi Heavy Industries Ltd., Siemens Energy, Rolls-Royce Plc, Destinus Energy, MTU Aero Engines, Centrax Gas Turbine, Others
Some Key Highlights of the Market Discussed in this Report
- Historical performance of the industry
- Future market projections
- Market Insights & Growth Drivers
- SWOT Analysis (Strength, Opportunities, Weaknesses, & Threats)
A Few Questions Answered in the Gas Turbine Market Analysis Report
- What should be the entry strategies, economic impact mitigation strategies, and marketing channels for the Gas Turbine Industry?
- What is the value of the Gas Turbine Market? In 2030, how much will be the worth of the industry?
- What are the general market trends/opportunities for Gas Turbine Industry? Will the market demand rise or decline in the forecasted period?
- What is the estimated demand for several product categories? What are the expected and industrial uses?
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