Gas Turbine Market is Booming Globally | Key Players: Kawasaki Heavy Industries, Siemens, GE, MHPS, Ansaldo, Harbin Elec

1. Global Gas Turbine Market Research Report and Forecast Report Edition: 2019 Copyright © IMARC Service Pvt Ltd. All Rights Reserved © 2019 IMARC All Rights Reserved

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3. Report Description and Highlights Report Description Global Gas Turbine Market Overview: According to the latest report by IMARC Group, titled “Gas Turbine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global gas turbine market size is expanding at a steady rate. Gas turbine refers to a type of internal combustion (IC) engine that generates electric current by converting natural gases and liquid fuels like kerosene, propane or fuel oil into mechanical energy. These turbines have a relatively lower operational cost as compared to other alternatives. They are also extremely durable and efficient while having less operational failure and downtime. Apart from this, these turbines offer high speed, which results in quicker power generation and provides better service in minimal time. As a result, these turbines are widely utilized in industrial processes for mechanical drives, propulsion systems, and automobiles for supercharging systems. Gas Turbine Market Trends The rising demand for electricity from across the globe is one of the major factors spurring the growth of the market. With extreme global climatic conditions and changing lifestyles, the adoption rates of heating, ventilation and air conditioning (HVAC) system are escalating which, in turn, is increasing the consumption of power.

4. Report Description and Highlights Report Description Since gas turbines significantly reduce carbon emissions, they have emerged as an environment-friendly alternative. Furthermore, manufacturers are continually investing in research and development (R&D) activities to improve the efficiency of the turbines. For instance, General Electric (GE) Power has announced its 9HA units which will enable the conversion of fuel to electricity at a cost-effective rate. On account of the aforementioned factors, the market is expected to grow at a CAGR of around 4% during 2019-2024.

5. Report Description and Highlights Report Description • Additionally, developing economies are constantly in the requirement of uninterrupted power supply, which has led to the rising demand for gas turbines across these countries. Moreover, growing concerns regarding the adverse environmental effects of traditionally used power generation technologies have provided a thrust to the market growth. • Key Market Segmentation: • Market Segmentation by Technology • Combined Cycle Gas Turbine • Open Cycle Gas Turbine • On the basis of the technology, the market has been bifurcated into combined cycle and open cycle gas turbines, wherein combined cycle gas turbine is the most dominant segment. • Market Segmentation by Design Type • Heavy Duty (Frame) Type • Aeroderivative Type

6. Report Description and Highlights Report Description • Based on the design type, the heavy duty (frame) type holds the majority of the market share, followed by the aeroderivative type. • Market Segmentation by Region • North America • Europe • Asia Pacific • Latin America • Middle East and Africa • On the geographical front, Asia Pacific holds the leading position in the market. Other major regions include Europe, North America, Middle East and Africa, and Latin America. • Market Segmentation by Rated Capacity • Above 300 MW • 120-300 MW • 40-120 MW

7. Report Description and Highlights Report Description • Less Than 40 MW • On the basis of the rated capacity, the market has been divided into above 300 MW, 120-300 MW, 40-120 MW, less than 40 MW. • Market Segmentation by End-User • Power Generation • Mobility • Oil and Gas • Others • Based on the end user, the market has been categorized into power generation, mobility, oil and gas, and others. Amongst these, power generation accounts for the majority of the total market share. • Competitive Landscape: • The competitive landscape of the market has also been examined with some of the key players.

8. Report Description and Highlights Report Description • Kawasaki Heavy Industries • Siemens • GE • MHPS • Ansaldo • Harbin Electric • OPRA • MAN Diesel • Solar Turbines • Vericor Power • BHEL • Centrax • Zorya • Caterpillar • General Electric • Mitsubishi Heavy Industries • For more information, click here: https://www.imarcgroup.com/gas-turbine-market

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10. Partial List of Clients • We are the trusted business partners to the world's leading corporates, governments, and institutions A partial List of our Clients

11. Report Description and Highlights Report Description © 2019 IMARC All Rights Reserved This Publication and all it’s contents unless otherwise mentioned are copyrighted in the name of International Market Analysis Research and Consulting (IMARC). No part of this publication may be reproduced, repackaged, redistributed or resold in whole or in any part. The publication may also not be used in any form or by and means graphic electronic or mechanical, including photocopying, recording, taping or by information storage or retrieval, or by any other form, without the express consent of International Market Analysis Research and Consulting (IMARC). Disclaimer: All contents and data of this publication, including forecasts, data analysis and opinion have been based on information and sources believed to be accurate and reliable at the time of publishing. International Market Analysis Research and Consulting makes no representation of warranty of any kind as to the accuracy or completeness of any Information provided. IMARC accepts no liability whatsoever for any loss or damage resulting from opinion, errors or inaccuracies if any found this publication. IMARC, IMARC Group and Global Therapy Insight Series are registered trademarks of International Market Analysis Research and Consulting. All other trademarks used in this publication are registered trademarks of their respective companies.

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