Albany, CA -- (SBWIRE) -- 01/16/2017 -- The use of gas turbines for generating electricity is a technology dating back many years. These turbines are a kind of internal combustion (IC) engine where an air fuel mixture is burnt to generate hot gases. The hot gases are then used to rotate this turbine and in turn generate electricity. Such turbines are able to combust a large variety of fuels like natural gas, fuel oil and other synthetic oils. Power generation through gas turbines still remains one of the cleanest forms of energy, with very low levels of emission.

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The high quality of exhaust heat from such turbines can also be harnessed for heating purposes. Such power plants are usually employed for providing electricity grid relief and power supply during peak consumption hours. However with technological advancements these plants are now also being utilized for supplying base loads. Very fast startup times for these plants also provide opportunities for using them as backup generation for emergencies.With shale gas and coal bed methane being considered as valuable sources of energy for the future, the opportunities of this market are substantial. Certain factors like increasing cost of both oil and natural gas as well as increased drive for renewables in most nations may prove to be barriers to growth. However demand for gas or oil based generation is not likely to slow down in the near future specially in OECD countries.

There are many ways in which such turbines can be used for generation of electricity and other forms of useful energy. Gas turbines for electricity generation may be segmented into open cycle gas turbines (OCGT) and combined cycle gas turbines (CCGT). Such turbines can also be segmented on basis of fuel consumed for generating power. The fuels that may be considered are natural gas, fuel oil, kerosene and diesel among others.

Majority of plants using theses turbines are clustered around regions where fuel to run them are abundantly available. However with global trade of oil and natural gas growing and peak demand problems becoming more acute more nations are opting for such power plants. China is emerging as the leading energy consumer of the world thus increasing the prospects of using this source of generation in the Asia Pacific region. Also contributing to installations will be Japan who have replaced nuclear generation after the Fukishima disaster with oil and natural gas generation. In the OECD countries the majority chunk of thermal generation comes from such power plants. Use of such power plants is predominant in Middle Eastern, Eurasian and North American regions. The regional segmentation for these turbines will be done as North American, Middle Eastern, Asia Pacific and rest of the world (ROW).

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Some of the key players in this industry include NYE Thermodynamics Corporation, Mitsubishi Power Systems Europe Ltd., Siemens, Doosan Heavy Industries & Construction Co Ltd., and MJB International among others.

This research report analyzes this market depending on its market segments, major geographies, and current market trends.

Geographies analyzed under this research report include:

-North America
-Asia Pacific
-Europe
-Rest of the World