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Industrial Gas Turbine Market Size By Product (Heavy Duty, Aeroderivative), By Capacity (≤ 70 MW, 70-300 MW, ≥300 MW), By Technology (Open Cycle, Combined Cycle), By Application (Power Generation, Oil & Gas, Other Manufacturing), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, UK, Russia, Italy, Germany, France, China, India, Japan, South Korea, Saudi Arabia, UAE, Egypt, Algeria, Brazil, Argentina), Price Trends, Competitive Market Share & Forecast, 2016 – 2024
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Industrial Gas Turbine Market Demand & Industry Analysis, 2016 – 2024: Fractovia.org Industrial Gas Turbine Market Size By Product (Heavy Duty, Aeroderivative), By Capacity (≤ 70 MW, 70-300 MW, ≥300 MW), By Technology (Open Cycle, Combined Cycle), By Application (Power Generation, Oil & Gas, Other Manufacturing), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, UK, Russia, Italy, Germany, France, China, India, Japan, South Korea, Saudi Arabia, UAE, Egypt, Algeria, Brazil, Argentina), Price Trends, Competitive Market Share & Forecast, 2016 – 2024
Overview: • Industrial Gas Turbine Market size will exceed USD 18 billion by 2024 • Growing efforts to curb the hazardous impact of carbon emissions on the environment will enhance Industrial Gas Turbine Market expansion. • Strict government norms to maintain the ecological balance has resulted in the setting up of new gas fired power stations, which is likely to positively influence the industry demand. • In a bid to promote the usage of clean and reliable energy, in November 2015, the UK government, took a decision to replace all its coal fired power stations with gas fired power stations. • Industrial gas turbine industry in oil & gas application segment is likely to grow at an annual rate of 8% over 2016-2024, driven by the high spending on offshore exploration & production activities.
U.S. Industrial Gas Turbine Market, by Capacity, 2013 - 2024 (GW)
Product Trends: • Heavy duty accounted for over 80% of the 2015 global industrial gas turbine market share. Development of high capacity cogenerating facilities to cater the growing electricity demand coupled with measure to curb GHG emissions will embellish the industry outlook. In 2016, Mexico based Altamira power station has deployed Siemens H-class technology across its 350 MW generating facility. • International Maritime Organization (IMO) has introduced TIER III regulations to reduce the NOx emissions from marine diesel engines installed on new constructed ships on or after 1st January 2016. These norms are currently imposed to the U.S. Caribbean Sea and North American Emission Control Areas (ECAs). Industrial gas turbine market share from oil and gas is anticipated to expand over 8% by 2024. Rising E&P activities across deep and ultradeep sea bed will complement the business outlook.
Regional Trends: • U.S. industrial gas turbine market is anticipated to exceed 14 GW by 2024. Federal government initiatives to expand the penetration of natural gas fired station will augment the industry outlook. In 2015, EIA had projected that the by 2025 more 30% of total U.S. electricity production will come from natural gas. • France industrial gas turbine market for 2015 was valued over USD 120 million. In 2015, regulators had introduced Energy Transition for Green Growth legislation targeting to reduce the emission level by 40% by 2030 from 1990 levels. • Key participants in industrial gas turbine market include Solar Turbines Incorporated, Kawasaki Heavy Industries, Harbin Electric Company Limited, Siemens AG, Mitsubishi Hitachi Power Systems, and MAN Diesel & Turbo SE. • Competitive Trends:
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