Aeroderivative Gas Turbine Market, By Product (Combined Cycle and Open Cycle), By Application (Oil &

Published Date: April 2020 | Report Code : EP2061941

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Aeroderivative Gas Turbine Market, By Product (Combined Cycle and Open Cycle), By Application (Oil & Gas, Aviation, Power Generation, Marine, Industrial and others), and By Region (North America, Western Europe, Eastern Europe, Asia Pacific, Middle East & Africa, and South America) – Market Size & Forecasting to 2028

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Domain : Energy

Report Code : EP2061941

Status : Published April 2020

The global aeroderivative gas turbine market size was valued at USD 2.21 billion in 2019 and is anticipated to grow at a CAGR of 5.2% during the forecast period. An aeroderivative gas turbine is a lightweight gas turbine that uses a mixture of fuel and air to achieve the desired output. It is the popular choice for small-scale power generation owing to its better flexibility, efficiency and reliability, high power technology, and low emission. It is generally used in the areas where a small footprint and lightweight equipment are needed. Aeroderivative gas turbines are widely used in electrical power application across aviation, oil & gas, marine and other end-user industries. Increasing adoption of cutting-edge technologies across gas fired turbines in line with rising investments toward aircraft fleet sector will positively influence the product deployment. For instance, in 2018, Siemens declared the launch of HL-class gas turbines with 80% operational efficiency for the gas markets across the Philippine electricity sector.

Considering the current market scenario, the global aeroderivative gas turbine market is primarily being driven by ongoing technological enhancement across re-generative systems to cater to increasing power consumption across isolated, industrial & commercial energy grid networks will complement the > 70 MW segment of aeroderivative gas turbine market. In 2017, Mitsubishi Hitachi Power Systems launched its new J-Series air cooled gas turbine namely JAC gas turbine that exhibits an efficiency of 64%, reliability of 99.5% along with a combined cycle output of 575 MW. Cost efficient, high in performance and minimal GHG emission are the eminent factors strengthening the product landscape. Moreover, growing applicability of advanced regenerative turbines across various power plants will complement the industry dynamics. Favorable government policies including tax rebates, incentive, financial schemes and subsidies across power generation establishments will complement the business scenario. Furthermore, growing industry inclination toward sustainable energy resources along with stringent regulatory norms across conventional fuels will drive the combined cycle segment of aeroderivative gas turbine market trends. For example, in 2018, Siemens declared the launch of HL-class gas turbines for the gas markets across the Philippine electricity sector. Growing energy demand to cater to the ongoing industrialization across developing countries will further stimulate the business outlook.

Key Factors Impacting the Growth of Aeroderivative Gas Turbine Market:

  • Inclination toward energy optimization.
  • Shale gas revolution.
  • Positive clean energy outlook.
  • Renewable energy integration.
  • Growing focus toward decentralized generation technologies.
  • Restructuring of electrical infrastructure.
  • Large scale renewable integration prospects.
  • Positive outlook towards gas-based electricity generation.

The aeroderivative gas turbine market segmentation is based on product application, and region.

Product Outlook:

Based on product, the market has been segmented into combined cycle and open cycle. The open cycle segment is expected to dominate the market in 2018 and further expected to lead the market during the forecast period.

Application Outlook:

Based on application, the market is segmented into oil & gas, aviation, power generation, marine, industrial and others. The aviation segment is expected to lead the market during the forecast period. Major reasons are rising tourism & migrant mobilization along with growing living & travelling standards across developing nations. Moreover, ongoing aircraft demand across military sector have witnessed an upsurge owing to the rise in national security & safety adherence.

Regional Outlook:

Based on the region, the global aeroderivative gas turbine market has been segmented by North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, & Rest of the World. North America governs the worldwide aeroderivative gas turbine market in 2018. Europe is expected to dominate the market due rising focus toward CCGT process plant technology along with growing adoption of integrated co-generative systems across the industry will further complement the product demand. Increasing applicability of gas-powered turbine technology across oil and gas sector owing to lower power generation cost and high efficiency will further stimulate the industry demand. Moreover, power generation through combined and open cycle gas turbine across aviation and marine segment can grow on account of high reliability and efficiency, lower installation time and existing gas reserves.

Competitive Landscape

The dominated players in the aeroderivative gas turbine market include 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.

This report also includes the profiles of key aeroderivative gas turbine market companies along with their SWOT analysis and market strategies. In addition, these competitive landscapes provide a detailed description of each company including future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launch, new product developments, and other latest industrial developments.

Key Developments in Aeroderivative Gas Turbine Market:

  • In September 2019, Siemens signed up a contract with Astoria Generating Co. (AGC) for the installation of its eight 76-MW aeroderivative gas turbine.
  • In 2017, Mitsubishi Hitachi Power Systems launched its new J-Series air cooled gas turbine namely JAC gas turbine which exhibits an efficiency of 64%, reliability of 99.5% along with a combined cycle output of 575 MW.

What Does This Report Provide?

This report provides a detailed understanding of the global aeroderivative gas turbine market from qualitative and quantitative perspectives during the forecast period. The report also provides dynamic indicators with potential impact on the market during the forecast period and an in-depth analysis of the leading companies operating in the market.

Market Segmentation:

By Product

  • Open Cycle
  • Combined Cycle

By Application

  • Oil & Gas
  • Aviation
  • Power Generation
  • Marine
  • Industrial
  • Others

By Region:

  • North America
    • By Country (US, Canada, Mexico)
    • By Type
    • By Application
  • Western Europe
    • By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
    • By Type
    • By Application
  • Eastern Europe
    • By Country (Russia, Turkey, Rest of Eastern Europe)
    • By Type
    • By Application
  • Asia Pacific
    • By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
    • By Type
    • By Application
  • Middle East & Africa
    • By Country (UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa)
    • By Type
    • By Application
  • South America
    • By Country (Brazil, Argentina, Colombia, Rest of South America)
    • By Type
    • By Application

Reasons to Buy This Report:

  • Market size estimation of the aeroderivative gas turbine market on a regional and global basis
  • Unique research Usage for market size estimation and forecast
  • Profiling of major companies operating in the market with key developments
  • Broad scope to cover all the possible segments helping every stakeholder in the market

Customization:

We provide customization of the study to meet specific requirements:

  • By Segment
  • By Sub-segment
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