Gas Turbines Market Size & growth estimated to cross $20.5 Billion by 2021: Zion Market Research

Sarasota, FL, April 13, 2017 -- Zion Market Research, the market research group announced the analysis report titled "Gas Turbines Market (Heavy Duty and Aeroderivative), By Rated Capacity (1 To 40 MW, 40 To 120 MW, 120 To 300 MW, and Above 300 MW), By Application (Oil & Gas, Power Generation and Other Industries) - Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021".

The study concludes that the global gas turbines market is expected to grow at a CAGR of 4% between 2016 and 2021. The market revenue of $16.0 billion in 2015 is expected to grow up to $20.5 billion by 2021.

The gas turbine is the engine mainly used at the power plant which generates electricity. A gas turbine is also known as combustion engine that can change liquid fluids and natural gasses to mechanical energy. Gas turbines are available in sizes ranging from 500 kilowatts (kW) to 250 megawatts (MW). In past years, gas turbines are only used for generating electricity, but today gas turbines are one of the most widely used power generating technologies. There are several ways in which gas turbines can be used for the production of electricity and other forms of valuable energy.

Browse through 55 Market Tables and 42 Figures spread through 110 Pages and in-depth TOC on “Global Gas Turbines Market: By Design Type, Rated Capacity, Applications, Industry Size, Share, Trends Analysis to 2015 – 2021”.

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Increasing efficiency and durability of gas turbines are major driving factors for gas turbines market. A strict carbon emission regulation across the globe is expected to drive the gas turbines market in the near future. Furthermore, advancement in technology and lower power generating cost are the factors to drive the growth of the gas turbines market. Extended start-up time, lesser efficiency at idle speed and low sensitivity to modification in power demand are expected to hamper the demand growth over the coming few years.

Browse the full "Gas Turbines Market (Heavy Duty and Aeroderivative), By Rated Capacity (1 To 40 MW, 40 To 120 MW, 120 To 300 MW, and Above 300 MW), By Application (Oil & Gas, Power Generation and Other Industries) - Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021" report at https://www.zionmarketresearch.com/report/gas-turbines-market

The industrial gas turbine market can be segmented on the basis of design types which include heavy duty type and aero-derivative type gas turbines. The heavy duty type gas turbine was the leading segment in 2015 owing to increase in the number of large gas-fired plants and the demand for heavy-duty gas turbines. The industry can be further divided by rated capacity turbines are segmented into 1 to 40 MW, 40 to 120 MW, 120 to 300 MW, and above 300 MW. Oil & gas, power generation, and other industries are application segment of gas turbines market.

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Out of all the regional segments of the global market, Asia Pacific held the dominant share in the overall gas turbines market across the globe in 2015. This dominance is majorly witnessed due to the huge population and high electricity demand in this region. China and India are most populous countries in this region.

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China alone consumed more than 20% world’s electricity in 2015. Power generation in Asia Pacific was supported by their huge amount of natural sources.

Siemens AG, Alstom S.A, Bharat Heavy Electricals Limited, Mitsubishi Hitachi Power Systems, General Electric Company, Ansaldo Energia S.P.A and among others are some of the major players in this market.

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The report segments the global Gas Turbines market as:

Gas Turbines Market: Design Type Segment Analysis

• Heavy duty 
• Aeroderivative 

Gas Turbines Market: Application Segment Analysis

• Oil & gas 
• Power generation 
• Other industries

Gas Turbines Market: Rated Capacity Segment Analysis

• 1 to 40 MW
• 40 to 120 MW
• 120 to 300 MW
• Above 300 MW

Gas Turbines Market: Regional Segment Analysis

• North America
  • U.S.
• Europe
  • Germany
  • UK
  • France
• Asia Pacific
  • China 
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa

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