South America Gas Turbines Market Size, Share, Opportunities, And Trends By Type (Gas Cycle, Combined Cycle, Cogeneration, Others), By Power Rating (<100 MW, >100 MW - <300 MW, >300 MW), By Application (Power Generation, Oil & Gas, Others), By Technology (Heavy Duty, Light Industrial, Aero-derivative), And By Country - Forecasts From 2024 To 2029

  • Published : May 2024
  • Report Code : KSI061610130
  • Pages : 82

The South American gas turbine market is anticipated to grow at a CAGR of 4.12% and will reach US$1.179 billion in 2029 from an initial value of US$0.889 billion in 2022. Manufacturing plants are one of the main implementers of gas turbines that are used to produce power and turn mechanical drives. The aviation industry also finds its application that is vital to turn compressors.

Rapid population followed by a growing energy transition has increased overall energy demand in major South American nations such as Brazil. Moreover, the gas turbine in comparison to other power generation systems has a much more compact size and can easily meet the fluctuations in energy demand in South America, which also acts as an additional driving factor.

Market Drivers

  • Strategic collaboration and R&D investments have propelled the market expansion

The regulator scenarios in South America are more bent toward accommodating alternative means of power generation and bolstering sustainability in power generation. Further, increasing R&D and investments in environment-friendly means of power generation; the social imperative to provide power supply to the marginalized communities of the world, and the development of pollution control technologies are furthering the regional market expansion.

Additionally, the market players also investing in strategic partnerships with power operators to bolster energy transition. For instance, in April 2023, General Electric secured an order for its “H-Class” gas turbine from Brazil’s largest private gas operator Eneva. The turbine technology will power the latter’s Azulão II Reserve Power Plant.

  • The rising number of energy projects in the region is driving the market growth.

Thus, during the last three years, there have been quite a few contract awards from state entities to private players in the gas turbine market that clearly state that South America is poised for energy independence and has substantially contributed to the South American gas turbine market. Moreover, the implementation of policies associated with renewable energies followed by investment in natural gas power operating projects is estimated to stimulate the gas turbine market growth in South America.

For instance, in May 2023, Mitsubishi Power Americas Inc. formed an agreement with Portocem Geração de Energia S.A for the construction of the Portocem Thermoelectric Power Plant in Brazil, and the plant will be equipped with Mitsubishi’s four “M501JAC” enhanced air-cooled gas turbines.

  • Brazil is expected to account for a significant market share.

Country-wise, the South American gas turbine market is analyzed into Brazil, and others, where Brazil is projected to account for a considerable share of the market which is attributable to the country’s booming energy production capacity followed by strategic collaboration with Brazil-based power plant operators with major market players such as Mitsubishi, General Electric, and Siemens among others.

For instance, General Electric’s collaboration with Eneva in April 2023, and October 2022 both marked a stepping stone for GE to expand its gas turbine offerings in Brazil thereby furthering the country’s effort to bolster its smart energy transition.

Key Developments

  • In July 2023: Baker Hugh formed a contract with MODEC where the former would supply its gas technology equipment inclusive of LM2500 gas turbine generators and steam turbine generator for MODEC’s BM-C-33 project which marks a collaboration of Equinor with Petrobras and Repsol Sinopec Brasil.
  • In October 2022: General Electric received orders from Eneva to supply its two “H-Class” gas turbine to Brazil’s natural gas operator that would bolster the country’s renewable energy growth.

Segmentation:

  • By Type
    • Gas Cycle
    • Combined Cycle
    • Cogeneration
    • Others
  • By Power Rating
    • <100 MW
    • >100 MV- <300 MV
    • >300 MW
  • By Application
    • Power Generation
    • Oil & Gas
    • Others
  • By Technology
    • Heavy Duty
    • Light Industrial
    • Aero-Derivatives
  • By Country
    • Brazil
    • Others

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline

1.8. Key Benefits to the stakeholder

2. RESEARCH METHODOLOGY  

2.1. Research Design

2.2. Research Processes

3. EXECUTIVE SUMMARY

3.1. Key Findings

3.2. Analyst View

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

4.5. Russia-Ukraine War Impact Analysis

5. SOUTH AMERICA GAS TURBINE MARKET BY TYPE

5.1. Introduction

5.2. Gas Cycle

5.2.1. Market Trends and Opportunities

5.2.2. Growth Prospects

5.2.3. Geographic Lucrativeness

5.3. Combined Cycle

5.3.1. Market Trends and Opportunities

5.3.2. Growth Prospects

5.3.3. Geographic Lucrativeness

5.4. Cogeneration

5.4.1. Market Trends and Opportunities

5.4.2. Growth Prospects

5.4.3. Geographic Lucrativeness

5.5. Others

5.5.1. Market Trends and Opportunities

5.5.2. Growth Prospects

5.5.3. Geographic Lucrativeness

6. SOUTH AMERICA GAS TURBINE MARKET BY POWER RATING

6.1. Introduction

6.2. <100 MW

6.2.1. Market Trends and Opportunities

6.2.2. Growth Prospects

6.2.3. Geographic Lucrativeness

6.3. >100 MW - <300 MW

6.3.1. Market Trends and Opportunities

6.3.2. Growth Prospects

6.3.3. Geographic Lucrativeness

6.4. >300 MW

6.4.1. Market Trends and Opportunities

6.4.2. Growth Prospects

6.4.3. Geographic Lucrativeness

7. SOUTH AMERICA GAS TURBINE MARKET BY APPLICATION

7.1. Introduction

7.2. Power Generation

7.2.1. Market Trends and Opportunities

7.2.2. Growth Prospects

7.2.3. Geographic Lucrativeness

7.3. Oil & Gas

7.3.1. Market Trends and Opportunities

7.3.2. Growth Prospects

7.3.3. Geographic Lucrativeness

7.4. Others

7.4.1. Market Trends and Opportunities

7.4.2. Growth Prospects

7.4.3. Geographic Lucrativeness

8. SOUTH AMERICA GAS TURBINE MARKET BY TECHNOLOGY

8.1. Introduction

8.2. Heavy Duty

8.2.1. Market Trends and Opportunities

8.2.2. Growth Prospects

8.2.3. Geographic Lucrativeness

8.3. Light Industrial

8.3.1. Market Trends and Opportunities

8.3.2. Growth Prospects

8.3.3. Geographic Lucrativeness

8.4. Aero-Derivatives

8.4.1. Market Trends and Opportunities

8.4.2. Growth Prospects

8.4.3. Geographic Lucrativeness

9. SOUTH AMERICA GAS TURBINE MARKET BY COUNTRY

9.1. Introduction

9.2. Brazil

9.2.1. Market Trends and Opportunities

9.2.2. Growth Prospects

9.3. Others

9.3.1. Market Trends and Opportunities

9.3.2. Growth Prospects

10. COMPETITIVE ENVIRONMENT AND ANALYSIS

10.1. Major Players and Strategy Analysis

10.2. Market Share Analysis

10.3. Mergers, Acquisitions, Agreements, and Collaborations

10.4. Competitive Dashboard

11. COMPANY PROFILES

11.1. General Electric

11.2. Siemens AG

11.3. Mitsubishi Heavy Industries Ltd

11.4. Man Energy Solutions

11.5. Solar Turbines Inc.

11.6. Kawasaki Heavy Industries Ltd.

11.7. ABB


General Electric

Siemens AG

Mitsubishi Heavy Industries Ltd

MAN Energy Solutions

Solar Turbines Inc

Kawasaki Heavy Industries Ltd

ABB