Market Overview:
The global gas turbine market reached a value of US$ 21 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 4.1% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
A gas turbine is a type of internal combustion (IC) engine that converts the heat produced by liquid fuels and natural gases into mechanical energy. This energy is supplied to power generators that produce electricity, which is then utilized in various sectors including residential and industrial. A gas turbine operates through an upstream rotating compressor, a downstream turbine, and a combustion chamber that compresses the atmospheric air. These turbines can utilize a variety of fuels including synthetic fuels and natural gas. The aviation industry is one of the key industries where gas turbines are used to power jet propulsion. Marine, locomotive and automotive propulsions are some of the other areas where gas turbines play a pivotal role. In these applications, the electricity produced by these gas turbines is employed to power heavy machines such as aircraft, ships, trains, electrical generators, pumps and tanks.
Growing electricity demand is one of the key factors driving the market growth. With increasing population and robust growth in the industrial sector, the need for uninterrupted power supply is expeditiously rising. Furthermore, manufacturers are increasingly focusing on research and development (R&D) activities to develop turbines which offer the flexibility of fuel usage, operate at elevated temperatures and eliminate turbine failures. Also, there is a noticeable shift from conventionally used electricity generation technologies to gas-fired technologies owing to their energy-efficiency. Moreover, manufacturers are also investing heavily in R&D to develop cost-effective options for electricity generation.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global gas turbine market report, along with forecasts for growth at the global and regional level from 2021-2026. Our report has categorized the market based on technology, design type, rated capacity and end-user.
Breakup by Technology:
- Combined Cycle Gas Turbine
- Open Cycle Gas Turbine
Breakup by Design Type:
- Heavy Duty (Frame) Type
- Aeroderivative Type
Breakup by Rated Capacity:
- Above 300 MW
- 120-300 MW
- 40-120 MW
- Less Than 40 MW
Breakup by End-User:
- Power Generation
- Mobility
- Oil and Gas
- Others
Breakup by Region:
- Asia Pacific
- Europe
- North America
- Middle East and Africa
- Latin America
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being Kawasaki Heavy Industries, Siemens, GE, MHPS, Ansaldo, Harbin Electric, OPRA, MAN Diesel, Solar Turbines, Vericor Power, BHEL, Centrax, Zorya, Caterpillar, General Electric, Mitsubishi Heavy Industries, etc.
IMARC Group’s latest report provides a deep insight into the global gas turbine market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the global gas turbine market in any manner.
Report Coverage:
| Report Features |
Details |
|---|
| Base Year of the Analysis |
2020 |
| Historical Period |
2015-2020 |
| Forecast Period |
2021-2026 |
| Units |
US$ Billion |
| Segment Coverage |
Technology, Design Type, Rated Capacity, End-User, Region |
| Region Covered |
Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Companies Covered |
Kawasaki Heavy Industries, Siemens, GE, MHPS, Ansaldo, Harbin Electric, OPRA, MAN Diesel, Solar Turbines, Vericor Power, BHEL, Centrax, Zorya, Caterpillar, General Electric and Mitsubishi Heavy Industries |
| Customization Scope |
10% Free Customization |
| Report Price and Purchase Option |
Single User License: US$ 2299
Five User License: US$ 3399
Corporate License: US$ 4499 |
| Post-Sale Analyst Support |
10-12 Weeks |
| Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Questions Answered in This Report:
- How has the global gas turbine market performed so far and how will it perform in the coming years?
- What are the key regional markets in the global gas turbine industry?
- What has been the impact of COVID-19 on the global gas turbine industry?
- What is the breakup of the market based on the technology?
- What is the breakup of the market based on the design type?
- What is the breakup of the market based on the rated capacity?
- What is the breakup of the market based on the end-user?
- What are the various stages in the value chain of the global gas turbine industry?
- What are the key driving factors and challenges in the global gas turbine industry?
- What is the structure of the global gas turbine industry and who are the key players?
- What is the degree of competition in the global gas turbine industry?
- What are the profit margins in the global gas turbine industry?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Gas Turbine Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Technology
5.5 Market Breakup by Design Type
5.6 Market Breakup by Rated Capacity
5.7 Market Breakup by End-User
5.8 Market Breakup by Region
5.9 Market Forecast
6 Market Breakup by Technology
6.1 Combined Cycle Gas Turbine
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Open Cycle Gas Turbine
6.2.1 Market Trends
6.2.2 Market Forecast
7 Market Breakup by Design Type
7.1 Heavy Duty (Frame) Type
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Aeroderivative Type
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by Rated Capacity
8.1 Above 300 MW
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 120-300 MW
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 40-120 MW
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Less Than 40 MW
8.4.1 Market Trends
8.4.2 Market Forecast
9 Market Breakup by End-User
9.1 Power Generation
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Mobility
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Oil and Gas
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Others
9.4.1 Market Trends
9.4.2 Market Forecast
10 Market Breakup by Region
10.1 Asia Pacific
10.1.1 Market Trends
10.1.2 Market Forecast
10.2 Europe
10.2.1 Market Trends
10.2.2 Market Forecast
10.3 North America
10.3.1 Market Trends
10.3.2 Market Forecast
10.4 Middle East and Africa
10.4.1 Market Trends
10.4.2 Market Forecast
10.5 Latin America
10.5.1 Market Trends
10.5.2 Market Forecast
11 SWOT Analysis
11.1 Overview
11.2 Strengths
11.3 Weaknesses
11.4 Opportunities
11.5 Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis
13.1 Overview
13.2 Bargaining Power of Buyers
13.3 Bargaining Power of Suppliers
13.4 Degree of Competition
13.5 Threat of New Entrants
13.6 Threat of Substitutes
14 Price Analysis
15 Competitive Landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
15.3.1 Kawasaki Heavy Industries
15.3.2 Siemens
15.3.3 GE
15.3.4 MHPS
15.3.5 Ansaldo
15.3.6 Harbin Electric
15.3.7 OPRA
15.3.8 MAN Diesel
15.3.9 Solar Turbines
15.3.10 Vericor Power
15.3.11 BHEL
15.3.12 Centrax
15.3.13 Zorya
15.3.14 Caterpillar
15.3.15 General Electric
15.3.16 Mitsubishi Heavy Industries
List of Figures
Figure 1: Global: Gas Turbine Market: Major Drivers and Challenges
Figure 2: Global: Gas Turbine Market: Sales Value (in Billion US$), 2015 - 2020
Figure 3: Global: Gas Turbine Market: Breakup by Technology (in %), 2020
Figure 4: Global: Gas Turbine Market: Breakup by Design Type (in %), 2020
Figure 5: Global: Gas Turbine Market: Breakup by Rated Capacity (in %), 2020
Figure 6: Global: Gas Turbine Market: Breakup by End-User (in %), 2020
Figure 7: Global: Gas Turbine Market: Breakup by Region (in %), 2020
Figure 8: Global: Gas Turbine Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 9: Global: Gas Turbine Industry: SWOT Analysis
Figure 10: Global: Gas Turbine Industry: Value Chain Analysis
Figure 11: Global: Gas Turbine Industry: Porter’s Five Forces Analysis
Figure 12: Global: Gas Turbine (Combined Cycle Gas Turbine) Market: Sales Value (in Million US$), 2015 & 2020
Figure 13: Global: Gas Turbine (Combined Cycle Gas Turbine) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 14: Global: Gas Turbine (Open Cycle Gas Turbine) Market: Sales Value (in Million US$), 2015 & 2020
Figure 15: Global: Gas Turbine (Open Cycle Gas Turbine) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 16: Global: Gas Turbine (Heavy Duty Type) Market: Sales Value (in Million US$), 2015 & 2020
Figure 17: Global: Gas Turbine (Heavy Duty Type) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 18: Global: Gas Turbine (Aeroderivative Type) Market: Sales Value (in Million US$), 2015 & 2020
Figure 19: Global: Gas Turbine (Aeroderivative Type) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 20: Global: Gas Turbine (Above 300 MW) Market: Sales Value (in Million US$), 2015 & 2020
Figure 21: Global: Gas Turbine (Above 300 MW) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 22: Global: Gas Turbine (120-300 MW) Market: Sales Value (in Million US$), 2015 & 2020
Figure 23: Global: Gas Turbine (120-300 MW) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 24: Global: Gas Turbine (40-120 MW) Market: Sales Value (in Million US$), 2015 & 2020
Figure 25: Global: Gas Turbine (40-120 MW) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 26: Global: Gas Turbine (Less Than 40 MW) Market: Sales Value (in Million US$), 2015 & 2020
Figure 27: Global: Gas Turbine (Less Than 40 MW) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 28: Global: Gas Turbine (Power Generation) Market: Sales Value (in Million US$), 2015 & 2020
Figure 29: Global: Gas Turbine (Power Generation) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 30: Global: Gas Turbine (Mobility) Market: Sales Value (in Million US$), 2015 & 2020
Figure 31: Global: Gas Turbine (Mobility) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 32: Global: Gas Turbine (Oil and Gas) Market: Sales Value (in Million US$), 2015 & 2020
Figure 33: Global: Gas Turbine (Oil and Gas) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 34: Global: Gas Turbine (Other End-Users) Market: Sales Value (in Million US$), 2015 & 2020
Figure 35: Global: Gas Turbine (Other End-Users) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 36: Asia Pacific: Gas Turbine Market: Sales Value (in Million US$), 2015 & 2020
Figure 37: Asia Pacific: Gas Turbine Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 38: Europe: Gas Turbine Market: Sales Value (in Million US$), 2015 & 2020
Figure 39: Europe: Gas Turbine Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 40: North America: Gas Turbine Market: Sales Value (in Million US$), 2015 & 2020
Figure 41: North America: Gas Turbine Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 42: Middle East and Africa: Gas Turbine Market: Sales Value (in Million US$), 2015 & 2020
Figure 43: Middle East and Africa: Gas Turbine Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 44: Latin America: Gas Turbine Market: Sales Value (in Million US$), 2015 & 2020
Figure 45: Latin America: Gas Turbine Market Forecast: Sales Value (in Million US$), 2021-2026
List of Tables
Table 1: Global: Gas Turbine Market: Key Industry Highlights, 2020 and 2026
Table 2: Global: Gas Turbine Market Forecast: Breakup by Technology (in Million US$), 2021-2026
Table 3: Global: Gas Turbine Market Forecast: Breakup by Design Type (in Million US$), 2021-2026
Table 4: Global: Gas Turbine Market Forecast: Breakup by Rated Capacity (in Million US$), 2021-2026
Table 5: Global: Gas Turbine Market Forecast: Breakup by End-User (in Million US$), 2021-2026
Table 6: Global: Gas Turbine Market Forecast: Breakup by Region (in Million US$), 2021-2026
Table 7: Global: Gas Turbine Market Structure
Table 8: Global: Gas Turbine Market: Key Players