Asia Pacific (APAC) Gas Turbine Market is estimated to grow from US$3.411 billion in 2015 to US$4.878 billion by 2021, at a CAGR of 6.14% over the forecast period. APAC region is expected to witness the fastest growth of gas turbine market due to high economic growth, urbanization, and rapid industrialization which necessitates the need for electricity for new power plants in various emerging economies in the region. China and India will contribute significantly to the growth of regional gas turbine market owing to a large number of ongoing power generation projects, infrastructural expansion, and technological advancements. Huge investments in emerging new large-gas fired combined cycle power generation, large coal-fired capacity, particularly in China and India, and rising electricity demand will propel the growth of APAC gas turbine market over the next five years. However, factors such as high capital and installation costs coupled with stringent environmental regulations will restrain the growth of gas turbine industry in the region during the forecast period.
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.
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 turbine solutions. Complete industry analysis has also been covered by Porter’s five forces model as a part of this report section.
Thirdly, APAC Gas Turbine market has been segmented by power rating, by type, by application, and by geography. By power rating, the market has been segmented as <100MW, >100MW-<300MW, and >300MW. The market has further segmented by type as gas cycle, combined cycle, and cogeneration. By application, APAC gas turbine market is segmented as power generation, oil & gas, and others. By geography, the segmentation has been done as China, Japan, India, Australia, and others.
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 participants profiled as part of this section are Siemens, GE, and Kawasaki among others.