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Global Gas Turbines Market for Power Industry 2017-2021

About Gas Turbines

Gas turbines are used in gas-fired power plants. These plants include an internal combustion engine, wherein the fuel is mixed with air, causing ignition. The resultant high-temperature gas is directed toward a gas turbine through a nozzle, which results in rotation of the turbine. Gas turbines are mainly used in gas-fired power plants. These plants include an internal combustion engine, wherein the fuel is mixed with air, causing ignition. The resultant high-temperature gas is directed toward a gas turbine through a nozzle, which results in the rotation of the turbine.

Technavio’s analysts forecast the global gas turbines market for power industry to grow at a CAGR of 2.44% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global gas turbines market for power industry for 2017-2021. The market size is calculated based on the demand for the gas turbines in the power plant sector.

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

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Gas Turbines Market for Power Industry 2017-2021, 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
  • General Electric
  • Kawasaki Heavy Industries
  • Mitsubishi Hitachi Power Systems
  • Siemens
Other prominent vendors
  • BHEL
  • MAN Diesel &Turbo
  • Niigata Power Systems
  • Opra Technologies
  • Solar Turbines
Market driver
  • Shutdown of coal-based power plants.
  • For a full, detailed list, view our report
Market challenge
  • Preference for renewable energy sources.
  • For a full, detailed list, view our report
Market trend
  • Technological innovations in gas turbines.
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2021 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 Gas Turbines Market for Power Industry 2017-2021

Technavio recognizes the following companies as the key players in the global gas turbines market for power industry: Ansaldo Energia, General Electric, Kawasaki Heavy Industries, Mitsubishi Hitachi Power Systems, and Siemens.

Other Prominent Vendors in the market are: BHEL, MAN Diesel &Turbo, Niigata Power Systems, Motor Sich, OPRA technologies, and Solar Turbines.

Commenting on the report, an analyst from Technavio’s team said: “One trend in market is adopting cogeneration technology. Cogeneration is the simultaneous production of heat and electricity. CHP is embedded in most of the hospitals, universities, residential buildings, industries, and districts. The efficiency of cogeneration plants can reach up to 90% by utilizing the generated heat. The CHP fuel mix utilized by cogeneration plants are natural gas, fossil fuels, renewable sources, oil and oil products, and other fuels.”

According to the report, one driver in market is increase in CCGT power plants. The demand for combined-cycle gas turbines for power plants is on the rise due to increased efficiency and better output. The abundance of natural gas and its low cost has also enabled companies and utilities to build new natural gas-based thermal power plants. This has helped increase the number of CCGT plants globally. In the long term, CCGT will also help meet the carbon emission targets. The introduction of the US government’s Clean Power Plan will further propagate a shift from simple-cycle to combined-cycle plants, which have lower carbon dioxide (CO₂) emissions. This is because meeting the new performance standards for CO₂ emissions will be difficult with simple cycle plants. The CPP proposes state-by-state emission levels for existing power plants, with the cumulative goal of reducing nationwide carbon emissions by 30% by 2030, from the 2005 levels.

Further, the report states that one challenges in market is volatility in natural gas price. One of the main challenges hindering the growth of the global gas turbine market is volatility of natural gas prices. In order to safeguard the 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 turbine and natural gas-driven power plants in pursuit of cleaner modes of power generation, the reliance on natural gas is continuously increasing. At present, with low natural gas prices, the prospects of over-reliance on natural gas for power generation look less harmful. However, going by the historic trend of natural gas prices, as illustrated in the graph, the over-reliance on natural gas will expose consumers to high natural gas prices, prompted by its growing demand and recovery of crude oil prices.



Companies Mentioned

Ansaldo Energia, General Electric, Kawasaki Heavy Industries, Mitsubishi Hitachi Power Systems, and Siemens.BHEL, MAN Diesel &Turbo, Niigata Power Systems, Motor Sich, OPRA technologies, and Solar Turbines.

  • Executive summary
  • Scope of the report
  • Research methodology
  • Introduction
    • Key market highlights
      • Table Schematic diagram of gas turbines
      • Table Schematic diagram of a CCGT
      • Table Schematic diagram of an OCGT
      • Table Global gas turbine market for power industry by geography 2016-2021
  • Market landscape
    • Market overview
      • Table Market overview
    • Market size and forecast
      • Table Global gas turbine market for power industry 2016-2021 ($ billions)
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by technology
    • Market overview
      • Table Global gas turbine market for power industry segmentation by technology 2016 and 2021 (%)
    • Combined-cycle gas turbines
      • Table Global combined-cycle gas turbine market for power industry 2016-2021 ($ billions)
    • Open-cycle gas turbines
      • Table Global open-cycle gas turbine market for power industry 2016-2021 ($ billions)
  • Geographical segmentation
    • Global gas turbine market for power industry by geography
      • Table Global gas turbine market for power industry by geography 2016 and 2021 (%)
    • Gas turbine market for power industry in APAC
      • Table Gas turbine market for power industry in APAC 2016-2021 ($ billions)
      • Table Power generation mix in India 2016 (%)
      • Table Regional share of installed capacity of gas-based power plants February 2016 (%)
      • Table Additions of installed capacities in India by 2022
    • Gas turbine market for power industry in Americas
      • Table Gas turbine market for power industry in Americas 2016-2021 ($ billions)
      • Table Average natural gas price 2014-2017 ($/MMBtu)
      • Table Scheduled natural gas power plant capacity additions in US in 2017 and 2018 (GW)
    • Gas turbine market for power industry in EMEA
      • Table Gas turbine market for power industry in EMEA 2016-2021 ($ billions)
  • Decision framework
  • Drivers and challenges
    • Market drivers
      • Table Europe carbon emission from all sectors (million tons of CO equivalent) 2009-2014
    • Impact of drivers on key customer segments
      • Table Impact of drivers
    • Market challenges
      • Table Natural gas price trend 2006-2016 ($/MMBtu)
      • Table Benefits of renewable energy
      • Table Region-wise global market share of installed capacity of solar power plants 2000-2015 (%)
      • Table Nuclear reactors under planning/planned and construction stages in 10 countries as of January 2017
    • Impact of challenges on key customer segments
      • Table Impact of challenges
  • Market trends
    • Technological innovations in gas turbines
    • Adopting cogeneration technology
      • Table Benefits of cogeneration
      • Table Total CHP technical potential across all facilities 2016 (%)
  • Vendor landscape
    • Competitive scenario
    • Geographic presence
      • Table Geographic presence of key vendors
    • Other prominent vendors
  • Key vendor analysis
    • Ansaldo Energia
      • Table Products and services by Ansaldo Energia
    • General Electric
      • Table Product offerings by GE
      • Table Product offerings under gas turbines
    • Kawasaki Heavy Industries
      • Table Product groups and offerings by Kawasaki Heavy Industries
      • Table Gas turbine offerings by Kawasaki Heavy Industries
    • Mitsubishi Hitachi Power Systems
      • Table Product groups and offerings by MHPS
      • Table Product offerings: Gas turbines
    • Siemens
      • Table Product offerings by Siemens
      • Table Gas turbines offered by Siemens
  • Appendix
    • List of abbreviations
  • Explore Technavio

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