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Global Gas Turbine MarketGlobal Gas Turbine Market was estimated to be worth $17.053 billion in 2015 and is projected to witness a compound annual growth rate of 2.73% over the forecast period to reach a total market size of $19.511 billion by the end of 2021. Growing demand for power worldwide, growth in shale gas exploration and increasing investment in energy and power sector by governments are some of the factors contributing to the growth of gas turbine market.
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Fluctuations in the global power generation industry and economic benefit of coal power generation may affect its growth in some major countries restricting the expected overall growth. Asia Pacific accounts for a bulk of the demand for gas turbines and will continue to dominate the global market over the forecast period. Rapid urbanization, increasing investment in energy infrastructure and industrialization are some of the factors complementing the market growth.
Research Methodology
The first section of the report deals with detailed research methodology for calculating market size and forecasts, secondary data sources used and the primary inputs which were taken for data validation. This section also outlines various segmentations which have been covered as part of the report.
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Market Dynamics
Next section provides comprehensive market dynamics through an overview section along with growth drivers, challenges, and opportunities which exist in the current market. This section of the report also provides supplier and industry outlook as a whole; key industry and regional regulations which are determining the product specifications and a brief technological aspect of gas turbines. Complete industry analysis has also been covered by Porter’s five forces model as a part of this report section.
Segmentation
Thirdly, gas turbine market has been segmented by power rating, type, application, and geography.
By Power Rating
100MW - 300 MW
By Type
Gas Cycle
Combined Cycle
Cogeneration
By Application
Power Generation
Oil and Gas
Others
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By Geography
Americas
US
Canada
Brazil
Mexico
Others
Europe Middle East and Africa
United Kingdom
Germany
France
Saudi Arabia
Others
Asia Pacific
Japan
China
India
Australia
Others
Market Players
Finally, competitive intelligence section deals with major players in the market, their market shares, growth strategies, products, financials, and recent investments among others. Key industry players profiled as part of this section are Siemens, GE, Mitsubishi, Bharat Heavy Electricals and Toshiba among others.
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