Global Gas Turbines Market For Power Industry 2024-2028
The gas turbines market for power industry is forecasted to grow by USD 2553.5 mn during 2023-2028, accelerating at a CAGR of 2.31% during the forecast period. The report on the gas turbines market for power industry provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by growth of distributed power generation base, increase in CCGT power plants, and focus on reduction of carbon emissions.
Technavio's gas turbines market for power industry is segmented as below:
ByProduct
- Heavy-duty gas turbine
- Aeroderivative gas turbine
ByTechnology
ByGeography
- APAC
- North America
- Europe
- Middle East and Africa
- South America
This study identifies the technological innovations in gas turbines as one of the prime reasons driving the gas turbines market for power industry growth during the next few years. Also, adopting cogeneration technology and growing use of alternative fuel types for aeroderivative gas turbines will lead to sizable demand in the market.
The report on the gas turbines market for power industry covers the following areas:
- Gas turbines market for power industry sizing
- Gas turbines market for power industry forecast
- Gas turbines market for power industry industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading gas turbines market for power industry vendors that include Ansaldo Energia Spa, Bharat Heavy Electricals Ltd., Capstone Green Energy Corp., Caterpillar Inc., Centrax Ltd., Cryostar, Doosan Corp., General Electric Co., Harbin Electric Co. Ltd., IHI Corp., JSC The Ural Turbine Works, Kawasaki Heavy Industries Ltd., MAN Energy Solutions SE, MAPNA Group Co., Mitsubishi Heavy Industries Ltd., Motor Sich JSC, OPRA Turbines BV, Pumori Energy Ltd., Siemens AG, and Vericor Power Systems. Also, the gas turbines market for power industry analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.