Gas Turbine Market revenue to cross USD 23 Bn by 2028: Global Market Insights Inc.

The Europe gas turbine market is estimated to attain a CAGR of over 8.7% by 2028 due to the shifting trends toward energy-efficient technologies coupled with an increasing focus on replacing inefficient coal-fired power plants.

Selbyville, Delaware, May 02, 2022 (GLOBE NEWSWIRE) --

The gas turbine market size is expected to record a valuation of USD 23 billion by 2028, according to the most recent study by Global Market Insights Inc.

The market growth is credited to the growing industrialization and a paradigm shift toward distributed power generation technologies. Increasing focus on limiting GHG emissions along with stringent government norms to replace traditional power generating units with gas-fired turbines will augment business expansion. Large-scale renewable integration prospects coupled with the ongoing restructuring of electrical infrastructure will positively sway the industry potential.

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The > 50 kW – 500 kW gas turbine market will witness an appreciable momentum owing to the growing inclination toward combined cycle power generation plants. The product offers key benefits including high efficiency, reliability, and operational performance, thereby stimulating business growth. Ongoing advancements on account of the evolving combustor technology, operating range, and durability along with developing re-generative systems to withstand high heat requirements will favor the business scenario.

The aero-derivative gas turbine market is projected to register a significant growth due to the increasing applicability across utility-aided & heat-recovery power generating plants. Shifting focus toward the development of sustainable energy infrastructure along with favorable regulatory policies will boost the business landscape. Furthermore, supportive schemes & fundings toward integrating & expanding CHP plants will foster the industry growth.

Europe gas turbine market is predicted to observe a 8.7% growth rate by 2028. Shifting trends toward energy-efficient technologies coupled with an increasing focus on replacing inefficient coal-fired power plants will enhance the market expansion. Surging government focus to shift toward cleaner energy sources along with an growing power demand will propel the market progression. Moreover, ongoing technological improvements by manufacturers to attain cost competitiveness and produce higher capacity units will institute a favorable the industry scenario.

Eminent players operating in the market include General Electric, Siemens, Mitsubishi Heavy Industries, Wärtsilä, Kawasaki Heavy Industries, Opra Turbines, Solar Turbines, Harbin Electric Corporation, Bharat Heavy Electricals Limited, VERICOR, MAN Energy Solutions, Capstone Green Energy Corporation, UEC Saturn, Zorya-Mashproekt, Baker Hughes Company, Nanjing Turbine & Electric Machinery and Ansaldo Energia.

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Some of the key findings of the gas turbine market report include:

  • Shifting consumer inclination toward energy optimization along with shale gas revolution will fuel the market demand.
  • A positive outlook toward gas-based electricity generation along with surging technological advancements will spur the industry progression.
  • Ongoing utilization of gas-powered systems in extracting & drilling methods will escalate the oil & gas turbine industry.

Table of Contents (ToC) of the report

Chapter 3   Gas Turbine Market Insights
3.1    Industry ecosystem analysis
3.2    Innovation & technology landscape
3.2.1    General Electric
3.2.2    Siemens
3.2.3    Capstone Green Energy Corporation
3.3    Regulatory landscape
3.4    COVID- 19 impact on the industry outlook
3.5    Industry impact forces
3.5.1    Growth Drivers    North America & Europe    Inclination toward energy optimization    Ongoing shale gas revolution    Positive clean energy outlook    Asia Pacific    Renewable energy integration    Middle East & Africa    Restructuring of electrical infrastructure    Large scale renewable integration prospects    Latin America    Positive outlook toward gas-based electricity generation
3.5.2    Industry pitfalls & challenges    Advancing auxiliary clean turbine technologies
3.6    Growth potential analysis
3.7    Porter's Analysis
3.8    Competitive landscape, 2021
3.9    PESTEL Analysis

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About Global Market Insights Inc.

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.


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