The gas turbines market for power industry is forecasted to grow by USD 2553.5 mn during 2023-2028, accelerating at a CAGR of 2.31% during the forecast period. The report on the gas turbines market for power industry provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by growth of distributed power generation base, increase in CCGT power plants, and focus on reduction of carbon emissions.
Technavio's gas turbines market for power industry is segmented as below:
Market Scope
Base Year
2024
End Year
2028
Series Year
2024-2028
Growth Momentum
Accelerate
YOY 2024
2.23%
CAGR
2.31%
Incremental Value
$2553.5mn
ByProduct
Heavy-duty gas turbine
Aeroderivative gas turbine
ByTechnology
CCGT
OCGT
ByGeography
APAC
North America
Europe
Middle East and Africa
South America
This study identifies the technological innovations in gas turbines as one of the prime reasons driving the gas turbines market for power industry growth during the next few years. Also, adopting cogeneration technology and growing use of alternative fuel types for aeroderivative gas turbines will lead to sizable demand in the market.
The report on the gas turbines market for power industry covers the following areas:
Gas turbines market for power industry sizing
Gas turbines market for power industry forecast
Gas turbines market for power industry industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading gas turbines market for power industry vendors that include Ansaldo Energia Spa, Bharat Heavy Electricals Ltd., Capstone Green Energy Corp., Caterpillar Inc., Centrax Ltd., Cryostar, Doosan Corp., General Electric Co., Harbin Electric Co. Ltd., IHI Corp., JSC The Ural Turbine Works, Kawasaki Heavy Industries Ltd., MAN Energy Solutions SE, MAPNA Group Co., Mitsubishi Heavy Industries Ltd., Motor Sich JSC, OPRA Turbines BV, Pumori Energy Ltd., Siemens AG, and Vericor Power Systems. Also, the gas turbines market for power industry analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.
Table of Contents
1 Executive Summary
1.1 Market overview
Executive Summary - Chart on Market Overview
Executive Summary - Data Table on Market Overview
Executive Summary - Chart on Global Market Characteristics
Executive Summary - Chart on Market By Geographical Landscape
Executive Summary - Chart on Market Segmentation by Product
Executive Summary - Chart on Market Segmentation by Technology
Executive Summary - Chart on Incremental Growth
Executive Summary - Data Table on Incremental Growth
Executive Summary - Chart on Company Market Positioning
2 Market Landscape
2.1 Market ecosystem
Parent Market
Data Table on - Parent Market
2.2 Market characteristics
Market characteristics analysis
2.3 Value chain analysis
Value Chain Analysis
3 Market Sizing
3.1 Market definition
Offerings of companies included in the market definition
3.2 Market segment analysis
Market segments
3.3 Market size 2023
3.4 Market outlook: Forecast for 2023-2028
Chart on Global - Market size and forecast 2023-2028 ($ million)
Data Table on Global - Market size and forecast 2023-2028 ($ million)
Chart on Global Market: Year-over-year growth 2023-2028 (%)
Data Table on Global Market: Year-over-year growth 2023-2028 (%)
4 Historic Market Size
4.1 Global Gas Turbines Market For Power Industry 2018 - 2022
Historic Market Size - Data Table on Global Gas Turbines Market For Power Industry 2018 - 2022 ($ million)