Global Gas Turbine Market was estimated to be worth $18.141 billion in 2017 and is projected to witness a compound annual growth rate of 3.14% over the forecast period to reach a total market size of $21.173 billion by the end of 2022. 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. 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.
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 turbines. Complete industry analysis has also been covered by Porter’s five forces model as a part of this report section.
Thirdly, gas turbine market has been segmented by power rating, type, application, and geography.
By Power Rating
>100MW - <300MW
Oil and Gas
Europe Middle East and Africa
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.