Global Gas Turbine Market 2020-2024

Global Gas Turbine Market 2020-2024

Technavio has been monitoring the gas turbine market and it is poised to grow by $ 2.44 bn during 2020-2024 progressing at a CAGR of 2% during the forecast period. Our reports on gas turbine market 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 global market scenario, latest trends and drivers, and the overall market environment. The market is driven by the enhanced efficiency and robustness of gas turbines, growth of distributed power generation base and expanding natural gas pipeline networks. In addition, enhanced efficiency and robustness of gas turbines is anticipated to boost the growth of the market as well.

The gas turbine market analysis includes product segment, end-users segment, technology segment, and geographic landscapes

Technavio's gas turbine market is segmented as below:

By Product

  • Heavy-duty gas turbine
  • Aeroderivative gas turbine
By End-user
  • Power generation
  • Mobility
  • Oil and gas
  • Others
By Technology
  • CCGT
  • OCGT
By Geographic Landscapes
  • APAC
  • MEA
  • North America
  • Europe
  • South America
This study identifies the development of GTCC and IGCC technologies as one of the prime reasons driving the gas turbine market growth during the next few years. Also, rapid decline in demand for F-class gas turbines, growing use of alternative fuel types for aeroderivative gas turbines and emergence of new power plants will lead to sizable demand in the market.

Technavio 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. Our gas turbine market covers the following areas:
  • Gas turbine market sizing
  • Gas turbine market forecast
  • Gas turbine market industry analysis
Technavio's 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 turbine market vendors that include Ansaldo Energia Spa, Bharat Heavy Electricals Ltd., Capstone Turbine Corp., Caterpillar Inc., General Electric Co., IHI Corp., Kawasaki Heavy Industries Ltd., Mitsubishi Heavy Industries Ltd., OPRA Turbines, and Siemens AG. Also, the gas turbine market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on 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.


  • Executive Summary
  • Market Landscape
    • Market ecosystem
      • Table Parent market
      • Table Market characteristics
    • Value chain analysis
  • Market Sizing
    • Market definition
      • Table Offerings of vendors included in the market definition
    • Market segment analysis
      • Table Market segments
    • Market size 2019
    • Market outlook: Forecast for 2019 - 2024
      • Table Global - Market size and forecast 2019 - 2024 ($ million)
      • Table Global - Market size and forecast 2019-2024 ($ million) without Corona effect
      • Table Global market: Year-over-year growth 2019 - 2024 (%)
  • Five Forces Analysis
    • Five forces summary
      • Table Five forces analysis 2019 & 2024
    • Bargaining power of buyers
      • Table Bargaining power of buyers
    • Bargaining power of suppliers
      • Table Bargaining power of suppliers
    • Threat of new entrants
      • Table Threat of new entrants
    • Threat of substitutes
      • Table Threat of substitutes
    • Threat of rivalry
      • Table Threat of rivalry
    • Market condition
      • Table Market condition - Five forces 2019
  • Market Segmentation by Product
    • Market segments
      • Table Product - Market share 2019-2024 (%)
    • Comparison by Product
      • Table Comparison by Product
    • Heavy-duty gas turbine - Market size and forecast 2019-2024
      • Table Heavy-duty gas turbine - Market size and forecast 2019-2024 ($ million)
      • Table Heavy-duty gas turbine - Market size and forecast 2019-2024 ($ million) without Corona effect
      • Table Heavy-duty gas turbine - Year-over-year growth 2019-2024 (%)
    • Aeroderivative gas turbine - Market size and forecast 2019-2024
      • Table Aeroderivative gas turbine - Market size and forecast 2019-2024 ($ million)
      • Table Aeroderivative gas turbine - Market size and forecast 2019-2024 ($ million) without Corona effect
      • Table Aeroderivative gas turbine - Year-over-year growth 2019-2024 (%)
    • Market opportunity by Product
      • Table Market opportunity by Product
  • Market Segmentation by Technology
    • Market segments
      • Table Technology - Market share 2019-2024 (%)
    • Comparison by Technology
      • Table Comparison by Technology
    • CCGT - Market size and forecast 2019-2024
      • Table CCGT - Market size and forecast 2019-2024 ($ million)
      • Table CCGT - Market size and forecast 2019-2024 ($ million) without Corona effect
      • Table CCGT - Year-over-year growth 2019-2024 (%)
    • OCGT - Market size and forecast 2019-2024
      • Table OCGT - Market size and forecast 2019-2024 ($ million)
      • Table OCGT - Market size and forecast 2019-2024 ($ million) without Corona effect
      • Table OCGT - Year-over-year growth 2019-2024 (%)
    • Market opportunity by Technology
      • Table Market opportunity by Technology
  • Market Segmentation by End-user
    • Market segments
      • Table End-user - Market share 2019-2024 (%)
    • Comparison by End-user
      • Table Comparison by End-user
    • Power generation - Market size and forecast 2019-2024
      • Table Power generation - Market size and forecast 2019-2024 ($ million)
      • Table Power generation - Market size and forecast 2019-2024 ($ million) without Corona effect
      • Table Power generation - Year-over-year growth 2019-2024 (%)
    • Mobility - Market size and forecast 2019-2024
      • Table Mobility - Market size and forecast 2019-2024 ($ million)
      • Table Mobility - Market size and forecast 2019-2024 ($ million) without Corona effect
      • Aerospace
      • Marine
        • Table Mobility - Year-over-year growth 2019-2024 (%)
    • Oil and gas - Market size and forecast 2019-2024
      • Table Oil and gas - Market size and forecast 2019-2024 ($ million)
      • Table Oil and gas - Market size and forecast 2019-2024 ($ million) without Corona effect
      • Table Oil and gas - Year-over-year growth 2019-2024 (%)
    • Others - Market size and forecast 2019-2024
      • Table Others - Market size and forecast 2019-2024 ($ million)
      • Table Others - Market size and forecast 2019-2024 ($ million) without Corona effect
      • Table Others - Year-over-year growth 2019-2024 (%)
    • Market opportunity by End-user
      • Table Market opportunity by End-user
  • Customer Landscape
    • Table Customer landscape
  • Geographic Landscape
    • Geographic segmentation
      • Table Market share by geography 2019-2024 (%)
    • Geographic comparison
      • Table Geographic comparison
    • APAC - Market size and forecast 2019-2024
      • Table APAC - Market size and forecast 2019-2024 ($ million)
      • Table APAC - Market size and forecast 2019-2024 ($ million) without Corona effect
      • Table APAC - Year-over-year growth 2019-2024 (%)
    • MEA - Market size and forecast 2019-2024
      • Table MEA - Market size and forecast 2019-2024 ($ million)
      • Table MEA - Market size and forecast 2019-2024 ($ million) without Corona effect
      • Table MEA - Year-over-year growth 2019-2024 (%)
    • North America - Market size and forecast 2019- 2024
      • Table North America - Market size and forecast 2019-2024 ($ million)
      • Table North America - Market size and forecast 2019-2024 ($ million) without Corona effect
      • Table North America - Year-over-year growth 2019-2024 (%)
    • Europe - Market size and forecast 2019-2024
      • Table Europe - Market size and forecast 2019-2024 ($ million)
      • Table Europe - Market size and forecast 2019-2024 ($ million) without Corona effect
      • Table Europe - Year-over-year growth 2019-2024 (%)
    • South America - Market size and forecast 2019- 2024
      • Table South America - Market size and forecast 2019-2024 ($ million)
      • Table South America - Market size and forecast 2019-2024 ($ million) without Corona effect
      • Table South America - Year-over-year growth 2019-2024 (%)
    • Key leading countries
      • Table Key leading countries
    • Market opportunity by geography
      • Table Market opportunity by geography ($ million)
  • Drivers, Challenges, and Trends
    • Market drivers – Demand led growth
      • Enhanced efficiency and robustness of gas turbines
      • Growth of the distributed power generation base
      • Expanding natural gas pipeline networks
    • Market challenges
      • Inherent challenges of handling natural gas
      • Volatility in oil and gas prices
      • Investments in alternate energy sources
        • Table Impact of drivers and challenges
    • Market trends
      • Emergence of new power plants
      • Growing use of alternative fuel types for aeroderivative gas turbines
      • Rapid decline in demand for F-class gas turbines
      • Development of GTCC and IGCC technologies
  • Vendor Landscape
    • Table Vendor landscape
    • Landscape disruption
      • Table Landscape disruption
      • Table Industry risks
  • Vendor Analysis
    • Vendors covered
      • Table Vendors covered
    • Market positioning of vendors
      • Table Market positioning of vendors
    • Ansaldo Energia Spa
      • Table Ansaldo Energia Spa - Overview
      • Table Ansaldo Energia Spa - Business segments
      • Table Ansaldo Energia Spa - Key news
      • Table Ansaldo Energia Spa - Key offerings
    • Bharat Heavy Electricals Ltd.
      • Table Bharat Heavy Electricals Ltd. - Overview
      • Table Bharat Heavy Electricals Ltd. - Business segments
      • Table Bharat Heavy Electricals Ltd. - Key news
      • Table Bharat Heavy Electricals Ltd. - Key offerings
      • Table Bharat Heavy Electricals Ltd. - Segment focus
    • Capstone Turbine Corp.
      • Table Capstone Turbine Corp. - Overview
      • Table Capstone Turbine Corp. - Business segments
      • Table Capstone Turbine Corp. - Key news
      • Table Capstone Turbine Corp. - Key offerings
    • Caterpillar Inc.
      • Table Caterpillar Inc. - Overview
      • Table Caterpillar Inc. - Business segments
      • Table Caterpillar Inc.- Key news
      • Table Caterpillar Inc. - Key offerings
      • Table Caterpillar Inc. - Segment focus
    • General Electric Co.
      • Table General Electric Co. - Overview
      • Table General Electric Co. - Business segments
      • Table General Electric Co. - Key news
      • Table General Electric Co. - Key offerings
      • Table General Electric Co. - Segment focus
    • IHI Corp.
      • Table IHI Corp. - Overview
      • Table IHI Corp. - Business segments
      • Table IHI Corp. - Key news
      • Table IHI Corp. - Key offerings
      • Table IHI Corp. - Segment focus
    • Kawasaki Heavy Industries Ltd.
      • Table Kawasaki Heavy Industries Ltd. - Overview
      • Table Kawasaki Heavy Industries Ltd. - Business segments
      • Table Kawasaki Heavy Industries Ltd. - Key news
      • Table Kawasaki Heavy Industries Ltd. - Key offerings
      • Table Kawasaki Heavy Industries Ltd. - Segment focus
    • Mitsubishi Heavy Industries Ltd.
      • Table Mitsubishi Heavy Industries Ltd. - Overview
      • Table Mitsubishi Heavy Industries Ltd. - Business segments
      • Table Mitsubishi Heavy Industries Ltd. - Key news
      • Table Mitsubishi Heavy Industries Ltd. - Key offerings
      • Table Mitsubishi Heavy Industries Ltd. - Segment focus
    • OPRA Turbines
      • Table OPRA Turbines - Overview
      • Table OPRA Turbines - Product and service
      • Table OPRA Turbines - Key news
      • Table OPRA Turbines - Key offerings
    • Siemens AG
      • Table Siemens AG - Overview
      • Table Siemens AG - Business segments
      • Table Siemens AG - Key news
      • Table Siemens AG - Key offerings
      • Table Siemens AG - Segment focus
  • Appendix
    • Scope of the report
      • Market definition
      • Objectives
      • Notes and caveats
    • Currency conversion rates for US$
      • Table Currency conversion rates for US$
    • Research methodology
      • Table Research Methodology
      • Table Validation techniques employed for market sizing
      • Table Information sources
    • List of abbreviations
      • Table List of abbreviations

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