Market Research Logo

Global Combined Cycle Gas Turbine Market 2016-2020

Global Combined Cycle Gas Turbine Market 2016-2020

About Combined Cycle Gas Turbine (CCGT)

Combined cycle gas turbine (CCGT) is a power generation technology that incorporates a gas turbine in conjunction with a steam turbine. A steam turbine is used to supplement the electricity generated from a gas turbine, which is driven by the steam generated from waste heat recovered from the gas turbine exhaust.

Technavio’s analysts forecast the global combined cycle gas turbine (CCGT) market to grow at a CAGR of 4.24% during the period 2016-2020.

Covered in this report

The report covers the present scenario and the growth prospects of the global combined cycle gas turbine (CCGT) market for 2016-2020. To calculate the market size, the report considers the installed capacity and price of CCGTs in various regions.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Combined Cycle Gas Turbine (CCGT) Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • Ansaldo Energia
  • GE
  • Kawasaki Heavy Industries
  • Mitsubishi Hitachi Power Systems
  • Siemens
  • Solar Turbines
Market driver
  • Increasing efficiency and durability of gas turbines
  • For a full, detailed list, view our report
Market challenge
  • Change in energy mix
  • For a full, detailed list, view our report
Market trend
  • Declining demand for F-class gas turbines
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2020 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Release

Technavio Announces the Publication of its Research Report – Global Combined Cycle Gas Turbine (CCGT) Market 2016-2020

Technavio recognizes the following companies as the key players in the global combined cycle gas turbine (CCGT) market: Ansaldo Energia, GE, Kawasaki Heavy Industries, Mitsubishi Hitachi Power Systems, Siemens, and Solar Turbines.

Commenting on the report, an analyst from Technavio’s team said: “One of the key trends for market growth will be stringent government regulations worldwide. Growing concerns about resource depletion, increase in harmful emissions, and stricter regulations for climate change mitigation have increased the focus on technologies that can produce power in a much cleaner and more efficient manner. In 2015, the EPA passed the Clean Power Plan to reduce CO₂ emissions from power plants by 30% from the 2005 levels by 2030. The states in the US have been given the flexibility to implement the plan by adopting a mix of options, such as offering credits or allowances, increasing renewable power generation, using carbon capture technologies, and attracting investments. Such initiatives are expected to increase the share of natural gas in the power mix from 27% in 2014 to 33% by 2020.”

According to the report, one of the major challenges to the growth of the global CCGT market is the high threat of substitution from low-carbon emission alternatives such as renewable and nuclear energy. With the increasing focus on carbon emissions, the world is shifting toward renewable energy to meet the growing energy demand. However, in the current scenario, renewable energy's high initial cost hinders its adoption on a significant scale. This challenge for renewable energy is proving to be a major driver for the global CCGT market that offers a lower cost of power installation than renewable and nuclear energy. The fact that gas turbines, mainly driven by natural gas, offer a cleaner power generation option than coal, currently the primary source of power generation, also supports market growth.

Further, the report states that one of the main challenges facing the growth of the global CCGT market is the over-reliance on gas turbines for power generation, which exposes consumers to disproportionate risks due to the volatility in natural gas prices. In order to safeguard power prices from price fluctuations, utilities always seek to maintain a balanced feedstock portfolio. However, in the present scenario, with a rapid shift toward gas turbines and natural gas-driven power plants in pursuit of cleaner modes of power generation, reliance on natural gas is continuously increasing. In the present, owing to low natural gas prices, the prospects of over-dependence on natural gas for power generation look less harmful.

Companies Mentioned

Ansaldo Energia, GE, Kawasaki Heavy Industries, Mitsubishi Hitachi Power Systems, Siemens, and Solar Turbines.

  • Executive summary
    • Highlights
  • Scope of the report
    • Table Characteristics of standard heavy-duty (frame) and aeroderivative gas turbines
    • Table Key countries in each region
    • Top-vendor offerings
      • Table Product offerings
  • Market research methodology
    • Research methodology
    • Economic indicators
  • Introduction
    • Key market highlights
      • Table Working principle of CCGT
      • Table Global CCGT market by geography
      • Table Available sources of power generation
  • Market landscape
    • Market overview
      • Table Global CCGT market 2015-2020
    • Market size and forecast
      • Table Global CCGT market by revenue 2015-2020 ($ billions)
      • Table LCOE of CCGT versus other power generation technologies
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by design type
    • Global CCGT market by design type
      • Table Global CCGT market by design type 2015 and 2020
    • Heavy-duty (frame) gas turbines
      • Table Global heavy-duty (frame) gas turbine market 2015-2020 ($ billions)
      • Table Heavy-duty (frame) gas turbines: Comparison of various models
    • Aeroderivative gas turbines
      • Table Global aeroderivative gas turbine market 2015-2020 ($ billions)
      • Table Operational characteristics of gas-fired electricity generation
  • Geographical segmentation
    • Global CCGT market by geography
      • Table Global CCGT market by geography 2015 and 2020
    • APAC
      • Table CCGT market in APAC 2015-2020 ($ billions)
      • Table Generation cost in APAC (c/kWh)
    • Americas
      • Table CCGT market in Americas 2015-2020 ($ billions)
      • Table US installed power generating capacity by type 2015 and 2035
      • Table Planned CCGT capacity installation in US 2014-2020
    • EMEA
      • Table CCGT market in EMEA 2015-2020 ($ billions)
  • Market drivers
    • Increasing efficiency and durability of gas turbines
    • Regulations on carbon emissions
      • Table GHG emissions from different sectors
      • Table CO emission limits on new coal power plants across US, UK, and China
    • Consolidation of market vendors
    • Lower initial cost than other low-carbon emission substitutes
      • Table Power installation cost per kW of different power generation sources
    • Increase in CCGT power plants
      • Table Coal-fired versus gas-fired plants
      • Table Share of CCGT in thermal power 2000-2014 (%)
      • Table Global electricity generation by fuel share 2003
      • Table Global electricity generation by fuel shares 2013
      • Table US net energy generation 2010
      • Table US net energy generation 2015
    • Development of GTCC and IGCC technologies
  • Impact of drivers
    • Table Impact of drivers
  • Market challenges
    • Volatility in natural gas prices
    • Change in energy mix
      • Table Investments in renewables 2010-2014 ($ billions)
      • Table Share of fossil fuels in global energy mix 2014 and 2035
    • Disparities in natural gas reserves and shrinking supplies
    • Inherent challenges in handling natural gas
  • Impact of drivers and challenges
    • Table Impact of drivers and challenges
  • Market trends
    • Low oil prices
    • Declining demand for F-class gas turbines
    • Stringent government regulations worldwide
  • Vendor landscape
    • Table Market share of key vendors in 2010 and 2015
    • Table Major M&A activities in global CCGT market
    • Table Geographical presence of key vendors
  • Key vendor analysis
    • Ansaldo Energia
    • GE
    • Kawasaki Heavy Industries
    • Mitsubishi Hitachi Power Systems
    • Siemens
    • Solar Turbines
      • Table Solar Turbines: Key gas turbine-driven generator models
  • Appendix
    • List of abbreviations
  • Explore Technavio

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook

Share this report