A recent report published by Infinium Global Research on industrial gas turbine ignition system market provides an in-depth analysis of segments and sub-segments in the global as well as regional industrial gas turbine ignition system market. The global industrial gas turbine ignition system market is projected to grow at a CAGR of 9.4% over the forecast period of 2018-2024.
Pune, India -- (SBWIRE) -- 03/21/2019 -- The Industrial Gas Turbine Ignition System Market's segment market shares in each geographic region are mentioned in the report, along with the historic and forecast growth rates. Each segment represented visually with supporting reasons to justify the growth rates. IGR's report also covers drivers and restraints in the industrial gas turbine ignition system market.
Infinium Global Research's report covers the annual growth of the Global industrial gas turbine ignition system market. It also includes chapters on the Global industrial gas turbine ignition system industry trends, geographic analysis, and competitive landscape.
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The report also includes a SWOT analysis to present the indicators of strength, weakness, prospects, and risk of the market until the completion of the projection period in 2024.
Industrial Gas Turbine Ignition System Market: market insight
A gas turbine is a combustion engine that can convert natural gas or other liquid fuels to mechanical energy. This energy then drives a generator that produces electrical energy. It is electrical energy that moves along power lines to homes and businesses. Industrial gas engines are always equipped with an ignition system. Ignition systems for gas-turbine engines consist of three main components: the exciter box, the ignition lead, and the igniter. Ignition systems for gas-turbine engines are required to operate for starting only; their total operating time is therefore almost insignificant in comparison with the operating time of the engine.
Industrial Gas Turbine Ignition System Market: Drivers and Restraints
The gas turbine technology has a significant role in reducing CO2 emission. In correspondence, gas turbine installations, especially in the power generation sector, are expected to be a driving factor for CO2 emission reduction. The gas turbine ignition systems are supplied by many big players in the industry. The market dynamics of the gas turbine ignition system market is directly dependent on the gas turbine industry. Growing adoption of gas-fired power generation, increasing production of LNG and it's transportation across the globe, due to improved transportation infrastructure and growing demand for power across various sectors are the major driving forces for global industrial gas turbine ignition system market. However, the price war among the players in the ignition system market is a restraining factor for the market. Some companies, specifically from China are providing their ignition systems at a very low price, which affects the manufacturers who provide quality ignition systems at a premium price.
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Industrial Gas Turbine Ignition System Market: segmentation
The global industrial gas turbine ignition system market is segmented on the basis of the component, gas turbine type, and application. On the basis of the component, the spark plug segment has the highest market share against other segments. Frequent replacements across several industrial gas turbine applications are the main driving force contributing to large market share for spark plug segment. Due to its several new applications for small and medium scale turbines, the light-duty gas turbine has the major share in the global industrial gas turbine ignition system market on the basis of gas turbine type. The power generation segment is having the highest market share on the basis of application, which is because of increasing efficiency and durability of gas turbines is expected across energy production.
Industrial Gas Turbine Ignition System Market: Regional Insight
North America, Europe, Asia-Pacific, and ROW are the geographical segments of the global industrial gas turbine ignition system market. Asia-Pacific region is a leader in the global industrial gas turbine ignition system market due to growing industrialization, growing adoption of gas-fired power generation and favorable government regulations to lower the CO2 emission in developing countries such as China, India, Japan, and South Korea.
Industrial Gas Turbine Ignition System Market: Competitive Analysis
Unison, LLC, Woodward, Inc., Knite, Inc., Champion Aerospace, Inc., Chentronics, LLC, Hatraco Technische Handelsonderneming B.V., Tesi Group, Federal-Mogul LLC, Meggitt PLC, and Hoerbiger Holding are among the other key players in the global industrial gas turbine ignition system market.
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