Industrial Gas Turbine Ignition System Market by Application and Geography - Global Forecast and Analysis 2019-2023
Global Industrial Gas Turbine Ignition System Market: About this market
Industrial gas turbine ignition system primarily comprises of chocolate liquor, milk solids, and milk fat. Technavio’s industrial gas turbine ignition system market analysis considers sales from power generation and mechanical drive applications. Our analysis also considers the sales of industrial gas turbine ignition system in APAC, Europe, MEA, North America, and South America. In 2018, the power generation segment had a significant market share, and this trend is expected to continue over the forecast period. Benefits of using gas turbines over steam or piston turbines in the power generation will play a significant role in the power generation segment to maintain its market position. Also, our global industrial gas turbine ignition system market report looks at factors such as operational efficiencies associated with industrial gas turbines, low capita income, and growing power generation sector. However, fluctuation in gasoline prices, material degradation issues for end-users, and geopolitical risks may hamper the growth of the industrial gas turbine ignition system industry over the forecast period.
Global Industrial Gas Turbine Ignition System Market: Overview
Operational efficiencies associated with industrial gas turbines
Industrial gas turbines are more efficient, reliable, and fuel compatible than substitutes such as steam engine or piston engines. Combustors and the design of the burners in these turbines exhibit superior performance in terms of emission reduction, even with heavy load on the engines. Such features are making gas turbines the most efficient combustion system and subsequently, increasing their demand. This is contributing to the increase in adoption of industrial gas turbine ignition systems, which also facilitates low thermal conductivity. Such operational efficiencies associated with industrial gas turbines will lead to the expansion of the global industrial gas turbine ignition system market at a CAGR of over 8% during the forecast period.
Digitalization of gas turbine operations
Digitalization of operations of heavy-duty industrial machinery, including industrial gas turbines, helps users to operate from far and remote locations. Digitalized operations also help in the identification of issues in heavy-duty industrial machinery well ahead of time, allowing users to eliminate or minimize downtime. The digitalization of gas turbine operations will be one of the key trends in the industrial gas turbine ignition system market during the forecast period.
For the detailed list of factors that will drive the global industrial gas turbine ignition system market during the forecast period 2019-2023, click here.
With the presence of several major players, the global industrial gas turbine ignition system market is fragmented. 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 industrial gas turbine ignition system manufacturers, that include Ansaldo Energia Spa, General Electric Co., IHI Power Systems Co. Ltd., Kawasaki Heavy Industries Ltd., MAN SE, Meggitt Plc, Mitsubishi Heavy Industries Ltd., Siemens AG, Tenneco Inc., and Woodward Inc.
Also, the industrial gas turbine ignition system 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.
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