Overview of the global industrial gas turbines market

According to Technavio’s market research report, the global industrial gas turbines market will grow at a CAGR of more than 2% during the forecast period. One of the key drivers witnessed in the market is the compatibility of gas turbines with different fuels. Technological advancements in gas turbines ensure their flexibility with different gases and fuels such as low British thermal unit gases, synthetic gases, and liquid fuels. For instance, the aero-derivative gas turbine is a type of gas turbine that is designed to be fuel flexible. The production process of biodiesel from plants such as jatropha, palm, rapeseed, algae, or from animal fat by-products is known as transesterification. Manufacturers are also developing gas turbines that are compatible with these types of biodiesels, and this will positively impact the market during the estimated period. 

The growth in cogeneration is one of the key trends that will gain traction in the global industrial gas turbines market during the projected period. Cogeneration is the simultaneous production of electricity and heat. Industries such as food processing, chemicals, and metal manufacturing are increasingly using this technique because they lower GHG emissions. The future scope of cogeneration in these industries will have a direct influence on the growth of the market.

Competitive landscape and key vendors

The global industrial gas turbines market is characterized by the presence of many manufacturers. It has also been noted that the manufacturers are increasingly taking efforts to upgrade their product offerings and expand their market shares by focusing more on efficiency and innovation.

Key vendors in this market are -

• Ansaldo Energia
• GE
• Kawasaki Heavy Industries
• Mitsubishi Hitachi Power Systems
• Siemens

Other prominent vendors in the market include Mitsubishi Heavy Industries, MAN Diesel & Turbo, MOTOR SICH JSC, Niigata Power Systems, Opra Technologies, and Solar Turbines.

Segmentation by end-user and analysis of the industrial gas turbines market

• Oil and gas
• Steel

The oil and gas industry is witnessing an increasing demand for industrial gas turbines in gas compression stations, natural gas plants, oil booster stations, petrochemical plants, and cogeneration plants. The demand for gas turbines will continue to increase in the forthcoming years due to the introduction of new oil exploration projects in some regions such as MEA.

Segmentation by geography and analysis of the industrial gas turbines market

• Americas
• APAC
• EMEA

EMEA is encouraging the implementation of cogeneration plants because they reduce the emission of greenhouse gas (GHG). Also, since cogeneration plants require a high amount of natural gas fuel, the demand for gas turbines in these plants will increase during the estimated period.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global industrial gas turbines market?
• What are the key market trends impacting the growth of the global industrial gas turbines market?
• What are the challenges to market growth?
• Who are the key vendors in the global industrial gas turbines market?
• What are the market opportunities and threats faced by the vendors in the global industrial gas turbines market?
• What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
• What are the key outcomes of the five forces analysis of the global industrial gas turbines market?

Technavio also offers customization on reports based on specific client requirement.

This upcoming report by Technavio is an important part of the unit operations industry and provides a wide analysis of fast-growing markets like engineering tools. Furthermore, to help clients attain a competitive edge over their peers, Technavio also offers knowledge on several parameters including the escalating customer preferences, market drivers, and challenges faced by the vendors in the heavy industry.

Technavio’s market research specialists produce a triangulated approach of primary and secondary research methods and carry out an in-depth analysis of multiple factors, including technological development and the demand-supply shifts in various markets across the globe to exactly forecast the heavy industry’s growth possibilities. To assist clients to develop effective strategies for growth, our upcoming market research report on the global industrial gas turbines market for the period of 2017 to 2021 offers market insights from the data gathered from reliable market informants such as manufacturers, channel partners, decision makers, and regulatory bodies. Technavio also offers reports that are tailored based on the clients specifications.

This upcoming industry research report on the global industrial gas turbines market also considers the growth of related markets such as gas engines, which is expected to grow at a CAGR of nearly 8% by 2021. The upcoming industry research report on the global industrial gas turbines market also identifies the key drivers, evolving market trends, and the hurdles currently experienced by the unit operations industry and also presents insights into segments like test and measurement.