Gas Turbines Market by Design Type (Heavy Duty & Aeroderivative), Rated Capacity (1-40 MW,40-120 MW,120-300 MW, & Above 300 MW), Application (Oil & Gas, Power & Other), Technology (Open Cycle & Combined Cycle), and Region - Forecast and Trends to 2020
Seattle, WA -- (SBWIRE) -- 05/01/2017 -- The report segments the gas turbines market on the basis of its applications in various industries, which include power generation utilities, oil & gas, and other industries. Based on its rated capacity, the gas turbines market has been categorized in the following MW ranges, namely, 1-40 MW, 40-120 MW, 120-300 MW, and above 300 MW. The market based on technology has been segmented into open cycle and combined cycle.
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The global gas turbines market is projected to grow at a CAGR of 3.9% from 2015 to 2020, to reach a value of USD 19.6 Billion by 2020. Increasing availability of natural gas owing to the shale gas boom and higher efficiency & lower carbon emission characteristics of natural gas-fired power plants are the major factors driving the gas turbines market.
The gas turbines market starts with the manufacturing of basic components including blades, nozzles, castings, forgings, valves, seals, pipework, compressors, and combustion chambers. In the later stage, assembling of gas turbines takes place where all the components are integrated. These equipment are then distributed to power plants or oil & gas industries where they are commissioned.
The stakeholders include:
Gas turbine manufacturers
Public and private operators of natural gas power plants
Government and research organizations
Suppliers of parts and components to the gas turbines industry
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