Gas Turbine Market 2018 Industry New Tech Developments Report and Leading Key Players Update

Market Highlights:-

A gas turbine, also called as a combustion turbine, is a type of internal combustion engine. It has an upstream rotating compressor which is coupled to a downstream turbine with a combustion chamber in between called a combustor. The basic working of the gas turbine is similar to that of the steam power plant except that the operational fluid, here, is air instead of water. Gas Turbines are available in various capacity for various applications. The market is driven by the increasing need for reliable electric supply and subsequent investment in producing new generating capacity, high productivity & low carbon discharge features of natural gas-fired power plants, and new shale gas exploration.

Growing electricity demand coupled with growing prominence towards the energy-mix concept and other gas fired technology will boost the global gas turbine market size over the forecast timeline. In the past few years government and private financial institutions have made substantial investments towards the expansion of new gas fired generation facilities.

Gas turbines are classified, based on their capacity type types, as? 70 MW, 70 - 300 MW and? 300MW gas turbine.? 70 MW gas turbines are used in small industrial and commercial applications whereas 70 - 300 MW and? 300MW gas turbine are used for high power applications such as power generation and industries.? 70 MW is expected to witness substantial growth by 2023.

Industry Key Players:-

The key players of global gas turbine markets are General Electric (U.S.), Siemens AG (Germany), Mitsubishi Heavy Industries Ltd. (Japan), Alstom S.A (France), Kawasaki Heavy Industries, Ltd. (Japan), Bharat Heavy Electricals Limited. (India), Ansaldo Energia, (Italy), Rolls-Royce Holdings plc. (U.K), Harbin Electric Company Limited. (China), MAN Diesel & Turbo. (Germany), Vericor Power Systems. (Georgia) and Solar Turbines Incorporated. (U.S.A).

Market Research Analysis:-

Natural gas storage is expected to dominate the market in terms of product type. With gas being increasingly used for providing domestic heating in North America and Europe regions, storing gas for winter season demand is of prime importance to the countries in the region. Countries are eager to take advantage of the price drop of natural gas and are procuring it more than the required demand. This procured gas has to be stored so that it can be used again in the state of winter season demand. Natural gas is stored in underground inventory such as depleted reservoirs in oil and/or natural gas fields, aquifers, and salt cavern formations. Liquefied natural gas is stored in liquid or gaseous forms above ground.

Industrial applications market is growing at the highest rate in the Gas Turbines market from 2018-2023.

Industrial gas turbine market currently holds more than half of the total share of volume of gas turbine and is expected to dominate the market in forecast period and the growing attention towards the replacement of conventional coal-fired power plant with viable natural gas-fired power plants will enhance the industrial gas turbine market in forecast period.

This research report has provides the insights, on various levels of analyses such industry analysis, market share analysis leading market players and their profiles. This report also helps in studying the target segments by providing views on emerging & high-growth segments and market conclusion. Together the market data comprise and discuss with the basic assessments on the competitive scenarios & strategies, of the Global Gas Turbine market, including the high-growth regions, countries and their political, economic and technological environments. Furthermore the project report also provides the views over the historical market values as well as, pricing and cost analysis of the same.

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