The new report by Expert Market Research titled, ‘Global Aeroderivative Gas Turbine Market Size, Price, Growth, Trends, Report and Forecast 2023-2028’, gives an in-depth analysis of the global aeroderivative gas turbine market, assessing the market based on its segments like technologies, cycles, sectors, capacities, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview 2018-2028
• Forecast CAGR (2023-2028): 4.2%
The dynamics of the market will be positively impacted by the expanding growth and improvement of manufacturing methods, along with the growing emphasis on sustainable energy development. Aeroderivative models are gaining more popularity for use in electrical power applications, although more for peak and recurrent purposes than for base power generation. Such applications are likely to accelerate the global aeroderivative gas turbine market.
Further, the flourishing industrial sector and increasing electricity demand are propelling the growth of the market globally. Lower operational costs, reduced carbon footprints, and compact size are the key factors accelerating the product portfolio. Additionally, the continued demand for aircraft in the defence sector as a result of increasing national security and safety compliance will fuel market dynamics.
Aeroderivative Gas Turbine Industry Definition and Major Segments
An alternative to the standard gas turbine that is less in weight is the aeroderivative gas turbine. Aeroderivative gas turbines are created specifically for usage in the air (like in airplanes). Aeroderivative gas turbines are also used for land applications. Aeroderivative land turbines provide less power but are more compact, more efficient, and operate at higher pressure ratios. The primary fuel for the aeroderivative turbine is aviation gasoline.
By technology, the market is divided into:
• Light Industrial
• Heavy Duty
Based on cycle, the market is classified into:
• Simple Cycle
• Combined Cycle
The various sectors in the market aeroderivative gas turbine market are as follows:
• Oil and Gas
• Electric Power Utility
By capacity, the market is segmented into:
• Upto 1 MW
• 1 – 30 MW
• 30 -70 MW
• Above 70 MW
On the basis of region, the market is segmented into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Aeroderivative Gas Turbine Market Trends
Global product demand will likely be bolstered by favourable policies by regulatory body policies, such as subsidies, tax breaks, and incentives, and increased investment in regenerative gas turbine facilities. Growing aviation industry investments and the use of modern technology in gas-fired turbines are likely to encourage product uptake. Also, the ongoing usage of lightweight aircraft, along with increasing power demand across offshore applications, will drive the market growth across the world. The growing necessity to replace ageing coal-based fired power plants to limit carbon emissions will proliferate the industry landscape.
Key Market Players
The major players in the market:
• Baker Hughes Company
• General Electric Company
• MAN Energy Solutions SE
• Wärtsilä Corporation
• Kawasaki Heavy Industries Ltd.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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