Pune, Oct. 11, 2019 (GLOBE NEWSWIRE) -- The global Industrial Gas Turbine Market is slated to reach USD 10.23 billion by 2026, rising at a CAGR of 1.39%. One of the main reasons for this growth trend is the increasing number of urban areas and urban population, especially in the developing nations. According to the UNESCO, the process of urbanization is set to accelerate in the next thirty years. The organization estimates that by 2030, about 61% (5 billion) of the world’s 8.1 billion people will be living in cities. Furthermore, the number of megacities, urban areas having populations over 10 million, will be the highest in the developing regions of Asia-Pacific and Latin America. Rampant urbanization is expected to put greater pressure on resources and emit more harmful gases through home appliances and coal-fired power plants in these regions. This will significantly swell the global industrial gas turbine market size.

According to a published report by Fortune Business Insights in a report, titled “Industrial Gas Turbine Market: Global Market Analysis, Insights, and Forecast, 2018-2026”, the global industrial gas turbine market value in 2018 was USD 9.13 billion and is projected to rise steadily during the forecast period. The report also contains valuable insights about the factors that will drive and influence the market till 2026.

Browse Complete Report Details with Table of Content and Figures:
https://www.fortunebusinessinsights.com/industry-reports/industrial-gas-turbine-market-100921

Growing Need to Contain GHG Emissions from Power Plants to Boost the Market

Gas turbines refer to engines that converts mechanical energy to electric energy through combustion of natural gas and other liquid fuels that drives a generator. Electricity thus generated is supplied to businesses and households using power lines. These turbines produce power more efficiently compared to traditional power plants and are therefore, in high demand. This is a major factor that will drive the global industrial gas turbine market growth in the forecast period. Conventional coal-fired power plants have been known to emit large amounts of toxic gases, speeding up the process of global warming. For example, the International Energy Agency’s Global Energy and CO2 Status Report of 2018 finds that coal-fired power plants were the largest contributor of emissions in 2018, increasing at a rate of 2.9% from 2017. Moreover, the report also states that 30% of global CO2 emissions in 2018 were as a result of coal-generated electricity. Thus, the urgency to develop cleaner techniques to generate electricity is expected to ramp up the demand for industrial gas turbines in the coming decade.

Africa to Emerge as a Highly Lucrative Region; North America to Lead the Pack

Low economic development and deficient power infrastructure are factors that present excellent business opportunities for players in the global industrial gas turbine market till 2026. North America is expected to hold a dominant section of the global industrial gas turbine market share owing to rising shale gas exploration activities and rapid enhancement of industrial gas turbine capacities in the region. Low operating costs is anticipated to drive the market in the Middle

Sample PDF https://www.fortunebusinessinsights.com/enquiry/sample/industrial-gas-turbine-market-100921

Collaborative Innovations to Intensify Market Competition

In 2017, Rolls-Royce, the British jet engine-maker, joined hands with India’s Defense Research and Development Organization (DRDO) to bring and develop gas turbine technology in the country. Such technology exchange partnerships are expected to give an upward thrust to the global industrial gas turbine market revenue during the forecast period. In a similar vein, BP, Prumo, and Siemens have entered into a USD 750 million investment to set up an LNG-to-Power complex in Port of Acu in Rio de Janeiro, Brazil.

List of Key Companies Profiled in the Industrial Gas Turbine Market Research Report Includes:

• GE
• Siemens Energy
• Mitsubishi Hitachi Power Systems, Ltd.
• Ansaldo Energia
• Solar Turbines
• Nanjing Turbine & Electric Machinery (Group) Co., Ltd.
• Zorya-Mashproekt
• United Engine Corporation
• Bharat Heavy Electrical Limited
• Kawasaki Heavy Industries, Ltd.
• OPRA Turbines
• Rolls-Royce
• Vericor Power Systems LLC (an MTU Aero Engines)
• PW Power Systems LLC.  

Speak to Analyst  https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/industrial-gas-turbine-market-100921

Table of Content:

• Introduction
  • Research Scope
  • Market Segmentation
  • Research Methodology
  • Definitions and Assumptions
• Executive Summary
• Market Dynamics
  • Market Drivers
  • Market Restraints
  • Market Opportunities
• Key Insights
  • Key Emerging Trends – For Major Countries
  • Latest Technological Advancement
  • Regulatory Landscape
  • Industry SWOT Analysis
  • Porters Five Forces Analysis
  • Value Chain Analysis
• Global Industrial Gas Turbine Market Analysis (GW) (USD Billion), Insights and Forecast, 2015-2026
  • Key Findings/Summary
  • Market Analysis, Insights and Forecast – By Capacity
    • 1-2 MW
    • 2-5 MW
    • 5-7.5 MW
    • 7.5-10 MW
    • 10-15 MW
    • 15-20 MW
    • 20-30 MW
    • 30-40 MW
    • 40-100 MW
    • 100-150 MW
    • 150-300 MW
    • 300+ MW
  • Market Analysis, Insights and Forecast – By Technology
    • Heavy Duty
    • Light Industrial
    • Aeroderivative
  • Market Analysis, Insights and Forecast – By Sector
    • Electric Power Utility (EPU)
    • Oil & Gas (OG)
    • Manufacturing (MR)
  • Market Analysis, Insights and Forecast – By Cycle
    • Simple Cycle
    • Combined cycle
  • Market Analysis, Insights, and Forecast – By Region
    • North America
    • Latin America
    • Europe
    • Asia Pacific
    • Middle East & Africa

Continued...

Request for Customization: https://www.fortunebusinessinsights.com/enquiry/customization/industrial-gas-turbine-market-100921

Browse Related Reports:

• Well Intervention Market  Size, Share and Global Trend By Type (Light Intervention, Medium Intervention, Heavy Intervention), Service (Logging & Bottom Hole Survey, Tubing/Packer Failure & Repair, Stimulation, Remedial Cementing, Zonal Isolation, Sand Control, Artificial Lift, Fishing, RE-Perforation), Application (Onshore, Offshore) and Geography Forecast till 2026
  
  
• Oilfield Service Market  Size, Share and Global Trend by Service (Seismic Service, Drilling Service, Completion & Workover Service Production Service, Processing & Separation Service, Others), By Application (Onshore, Offshore), and Geography Forecast till 2026
  
  
• Wireline Services Market  Size, Share and Global Trend By Type (Electric line, Slick line), By Well Type (OpenHole, CasedHole), By Application (Wireline Logging, Wireline Intervention, Wireline Completion), By Location (Onshore, Offshore), and Geography Forecast till 2026
  
  
• Directional Drilling Services Market  Size, Share and Industry Analysis by Location (Onshore, Offshore), By Type (Conventional, Rotary Steerable Systems (RSS)), By Service (Measurement While Drilling (MWD), Logging While Drilling (LWD), Rotary Steerable Systems (RSS), Mud Motors, Others) and Geography Forecast, 2019 - 2026

About us:

Fortune Business Insights offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in. 

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data. 

At Fortune Business Insights we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

Contact us:
Fortune Business Insights Pvt. Ltd. 
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
US :+1-424-253-0390
UK :+44-2071-939123
APAC :+91-744-740-1245
Email: sales@fortunebusinessinsights.com
Website: https://www.fortunebusinessinsights.com