Gas Turbines Market: Rising Adoption from Small and Medium-sized Enterprises to Fuel Growth 2020 - 2030

-
Gas Turbine Market: Introduction
The global gas turbine market is anticipated to reach US$ 53.8 Bn by 2030. The gas turbine market is projected to expand at a CAGR of ~4% from 2020 to 2030 in terms of revenue. The growth of the gas turbine market can be attributed to rising adoption of gas turbines for producing electricity, growing demand for natural gas-fired power plants, accessibility of efficient power generation, effect of the shale gas revolution, and reduction in the emission of carbon dioxide. During the forecast period, North America is anticipated to emerge as the leading gas turbine market, followed by Asia Pacific and Europe.  
Growing Number of Power Plants Globally
The shifting trend toward sustainable power sources across the world has augmented the usage of gas turbines to produce cleaner power by curbing carbon emissions. The rise in demand for electricity or rising energy demand across the globe is likely to result in increasing number of coal power plants and thermal power plants, which is expected to drive the demand for gas turbines in the global market. 
Furthermore, carbon-free technologies are growing at a rapid pace in the process of power generation or electricity generation. Gas turbines used in combined heat and power (CHP) or cogeneration processes can increase the efficiency of plants by utilizing exhaust gases to generate steam that can again be used for various purposes without consuming additional fuel. This, in turn, is projected to increase the demand for gas turbines worldwide.
Gas Turbine: Market Segmentation
The global gas turbine market has been segmented in terms of type, capacity, application, technology, and region. Based on type, gas turbines are segmented into heavy-duty gas turbines, industrial gas turbines, and aero derivative gas turbines. Based on capacity, the gas turbine market has been segmented into less than 40 MW, 40–120 MW, 120–300 MW, and above 300 MW. Based on application, the gas turbine market is divided into power generation, aviation, oil & gas, and industrial. Among applications, the power generation segment dominated the global gas turbine market in 2019. In terms of technology, the market has been segmented into open cycle and combined cycle.
Gas Turbine Market: Regional Outlook
In terms of region, the global gas turbine market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is anticipated to lead the gas turbine market during the forecast period. The U.S. is estimated to hold a notable share of the market in North America and the market in the country is projected to expand at a CAGR of 4.5% during the forecast period, in terms of revenue. 
The report provides in-depth segment analysis of the global gas turbine market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries, which hold growth opportunities or account for significant share has also been included as part of geographic analysis of the gas turbine market.

Comments

Post a Comment

Popular posts from this blog

Oil and Gas Terminal Automation Market: To Reflect Impressive Growth Rate By 2019 - 2027

-
  Global  Oil and Gas Terminal Automation Market : Overview A sturdy growth rate, compounded annually, will be recorded in the global oil and gas terminal market, states Transparency market Research (TMR), for the period of 2019 to 2027. It will be driven forward on to a high growth trajectory at the back of a number of growth factors. Some of these are low oil prices and growing demand for natural gas across a number of varied industry verticals. Demand for oil and gas will also be pushed up by growing population for its energy and fuel needs. This in turn will require more exploration, extraction, better storage and robust distribution. And, this again would lead to demand for oil and gas terminal automation. Therefore, the market will be rife with new opportunities of growth in this period. And, as per TMR, the players would do their best to make the most of these. Global Oil and Gas Terminal Automation Market: Competitive Landscape Global oil and gas terminal automation market is a
Read more

Military Land Vehicle Electronics Market: Latest Trends and Forecast Analysis up to 2019 - 2027

-
Global Military Land Vehicle Electronics Market – Introduction Military land vehicle electronics are used in military land vehicles to enable navigation, communication, and observation in the exchange of intra-vehicular or inter-vehicular information. They are used in the military to increase warfare capabilities in surveillance, intelligence, and reconnaissance missions. This is expected to enhance the demand for military land vehicle electronics across the world.  The growing trend of an open reference architecture system is augmented by an increasing need for military land vehicle electronics, which is turn is expected to fuel the market. Besides, armored fighting vehicles (AFVs) are equipped with networked information technology, so as to provide them with combat capabilities and optimal situational awareness. This in turn is expected to boost the military land vehicle electronics market over the forecast period. Key Drivers of the Military Land Vehicle Electronics Market
Read more

Impact Sensing Door Unlock System Market will Generate New Growth Opportunities By 2019 - 2027

-
  Impact Sensing Door Unlock System : Introduction The impact sensing door unlock system unlocks the door automatically without a key, it can be operated through a mobile application. The impact sensing door unlock system consists of sensors and an electronic control unit, wherein the sensors receive a signal from the wireless system and transmits that signal to the electronic control unit. The electronic control unit is wired to the central lock, which in turn unlocks or locks all the doors of the vehicle. Key Drivers of Impact Sensing Door Unlock System Market Rise in demand for safety and security features in a vehicle is estimated to boost the impact sensing door unlock system market. Every vehicle manufacturer is trying to boost the integration of advanced safety features, including center locking system with impact sensing door unlock system that is activated through a mobile application. This in turn is projected to fuel the demand for the impact sensing door unlock system. Incr
Read more