Growing Need for Environment Conservation to Invite Great Growth Prospects, Global Gas Turbines Market to Reach Valuation of US$ 53.8 bn by End of Forecast Period

- Heightening adoption of gas turbines over traditional power generation units due to stringent government norms may serve as a prominent growth generator for the global gas turbine market

- Taking into consideration the various growth factors, the TMR analysts predict the global gas turbine market to expand at a CAGR of ~4 percent during the assessment period

News provided by

Transparency Market Research

Aug 20, 2020, 09:30 ET

ALBANY, N.Y., Aug. 20, 2020 /PRNewswire/ -- Electricity demand across various countries around the world may skyrocket in the coming years. Thus, major upgrades are required to generate electricity. The use of gas turbines as an efficient electricity generator may help in bringing considerable growth opportunities for the gas turbine market.

After an out-and-out research on all the parameters, the analysts at Transparency Market Research predict the global gas turbine market to expand at a CAGR of ~4 percent between 2020 and 2030. The global gas turbine market was valued at US$ 36.7 bn in 2020 and is prognosticated to reach a valuation of US$ 53.8 bn by the end of the forecast period.

The undertaking of diverse climate change initiatives by governments of various countries with the aim of reducing carbon emissions may serve as expansive growth generators for the gas turbine market. The escalating awareness about the advantages of gas turbines may further boost the growth rate of the gas turbine market.

Download PDF Brochure – https://www.transparencymarketresearch.com/sample/sample.php

Gas Turbine Market: Transparency Expert Diagnosis

The TMR analysts, while decoding the reasons for the growth of the gas turbine market, highlight factors such as magnifying environmental concerns, increasing investments in research and development activities, and rising demand for renewable energy as major growth influencers. The analysts also stress on the surging demand across diverse applications in various industries such as oil and gas, power generation, and aviation to remain as the key growth factor for the gas turbine market.

Furthermore, the analysts suggest the manufacturers in the gas turbine market to expand their market share through collaborations, joint ventures, and partnerships. The analysts also advise the manufacturers to introduce novel concepts.

Request the Covid19 Impact Analysis across Gas Turbine Industries and Markets

Gas Turbine Market: Key Revelations

North America holds the title of the leading region in terms of growth with revenues in 2020 anticipated at US$ 10,510 mn
The U.S. is extrapolated to hold a prominent share and the gas turbine market in the country is projected to expand at a CAGR of 4.5 percent between 2020 and 2030
Asia Pacific held a significant share of the global gas turbine market in 2019
India, China, and Japan were the major growth-generating countries in the region in 2019
Europe, South America, and the Middle East and Africa are expected to record moderate growth through the forecast period

Explore 269 pages of cutting-edge research, extensive insights, and detailed projections. Analyze and discover the latest developments in the Gas Turbine Market (Type: Heavy-duty Gas Turbines, Industrial Gas Turbines, and Aero Derivative Gas Turbines; Capacity: Less than 40 MW, 40–120 MW, 120–300 MW, and Above 300 MW); Application: Power Generation, Aviation, Oil & Gas, and Industrial; and Technology: Open Cycle and Combined Cycle) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 – 2030 at https://www.transparencymarketresearch.com/gas-turbines-market.html

Gas Turbine Market: Growth Propellers

Technological advancements across the gas turbine market may bring immense growth opportunities. Manufacturers are developing gas turbines that display enhanced reliability, flexibility, and efficiency. This aspect will attract good sales outputs, thus leading to an improvement in the growth rate.

Adoption of gas turbines by heavy industries as an efficient power generator may invite substantial growth opportunities for the gas turbine market
Government initiatives regarding renewable energy sources may assist the gas turbine market to garner growth
Stringent regulations in terms of carbon emissions may further bring exponential growth opportunities for the gas turbine market
Customized gas turbines for catering to a specific end-user may further strengthen the web of growth

Analyze global gas turbine market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study

Gas Turbine Market: Competitive Analysis

The players in the gas turbine market invest heavily in research and development activities for exploring novel insights. Mergers, acquisitions, partnerships, collaborations, and joint ventures help in strengthening the position of the players in the gas turbine market. Some well-established participants in the gas turbine market are Kawasaki Heavy Industries, Ltd., Mitsubishi Hitachi Power Systems, Ltd., Solar Turbines Incorporated, OPRA Turbines B.V., and Vericor Power Systems.

Access TMR Press Releases - https://www.transparencymarketresearch.com/press-releases.htm

Global Gas Turbine Market: Segmentation

By Type

Heavy-duty Gas Turbines
Industrial Gas Turbines
Aero Derivative Gas Turbines

By Capacity

Less than 40 MW
40–120 MW
120–300 MW
Above 300 MW

By Application

Power Generation
Aviation
Oil & Gas
Industrial

By Technology

Open Cycle
Combined Cycle

By Region

North America
Europe
Asia Pacific
Middle East & Africa
South America

Explore Transparency Market Research's award-winning coverage of the Global Heavy Engineering Equipment Industry:

Tamping Machine Market – The global tamping machine market is anticipated to reach the volume of 92,696 (in units) by 2027. The tamping machine market is projected to expand at a CAGR of 5% from 2019 to 2027 in terms of volume. Growth of the tamping machine market can be attributed to rising adoption of tamping machines for railway track geometry degradation, which has triggered their demand globally.

Cut-to-length Line Systems Market – The cut-to-length (CTL) line systems market is anticipated to record installation of 23 new CTL line systems by 2027. The cut-to-length line systems market is projected to expand at a CAGR of ~2% from 2019 to 2027 in terms of volume. Growth of the cut-to-length line systems market can be attributed to the inauguration of new metal processing facilities as well as capacity expansion of existing facilities across the globe, particularly steel, aluminum, copper, and other ferrous and non-ferrous metals.

Reciprocating Compressor Market – The global reciprocating compressor market is anticipated to reach ~US$ 6.2 Bn by 2027. The reciprocating compressor market is projected to expand at a CAGR of 3.5% from 2019 to 2027 in terms of sale. Growth of the reciprocating compressor market can be attributed to increasing adoption of oil free reciprocating compressors and energy efficient reciprocating compressors globally.

Access TMR Upcoming Reports - https://www.transparencymarketresearch.com/upcoming.htm

Access Recently Published Reports by TMR - https://www.transparencymarketresearch.com/latest.htm

About Transparency Market Research

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyse information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

Contact

Mr Rohit Bhisey
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
USA - Canada Toll Free: 866-552-3453
Email: [email protected]

Website: http://www.transparencymarketresearch.com
Press Release Source: https://www.transparencymarketresearch.com/pressrelease/gas-turbines-market.htm
Blog: https://tmrblog.com/

SOURCE Transparency Market Research