SELBYVILLE, Delaware, Feb. 20, 2020 /PRNewswire/ -- Global aeroderivative gas turbine market value is poised to reach over USD 3 Billion by 2026, as reported in the latest study by Global Market Insights, Inc. Growing customer inclination toward re-generative turbine units in line with favorable government policies toward renewable power generation will augment the industry landscape.
Ongoing technological advancement across gas turbine sector on account of enhanced performance, minimal installation & maintenance cost along with introduction of hybrid gas turbine technology will drive the aeroderivative gas turbine market demand. For instance, in 2017, General Electric and Southern California Edison unveiled their battery-gas turbine hybrid system namely, LM6000 Hybrid Electric Gas Turbine (Hybrid EGT) which will support renewable fuels at great extent. Moreover, fast ramping, quick start capabilities and increased fuel mixture ratio are few parameters which will propel the renewable inclined gas turbine industry growth.
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Increasing investments across oil & gas sector on account of flexible operation, cost effectiveness and longer product life will propel the product adoption. For instance, Siemens installed its remote diagnostic services (RDS) in twenty-nine gas turbines operated by Gail India in Hazira Vijaipur Jagdishpur pipeline and Vijaipur C2/C3 Plant. Increasing energy demand across developing and developed economies toward cogeneration activities will further complement the business overview.
Some findings of the aeroderivative gas turbine market report include:
- The demand for aeroderivative gas turbine industry are surging across oil & gas and power sector owing to their high performance, compact design and high reliability.
- Favorable government policies along with rising demand of gas-fired turbines across marine and aviation sector will drive the business growth.
- Key players operating across the aeroderivative gas turbine market are GE, Mitsubishi Hitachi, Solar Turbines, Cryostar, Siemens AG, Opra Turbines, etc.
- Increasing investments toward R&D sector will propel the gas turbine sector ability to provide efficient & flexible performance.
Browse key industry insights spread across 536 pages with 818 market data tables & 37 figures & charts from the report, "Aeroderivative Gas Turbine Market Outlook By Technology (Open Cycle, Combined Cycle), Capacity (< 50 KW, 50 to 500 KW, 500 KW to 1 MW, 1 to 30 MW, 30 to 70 MW, > 70 MW), Application (Power Plants, Oil & Gas, Process Plants, Aviation, Marine), Industry Analysis Report, Regional Outlook Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026" in detail along with the table of contents:
Growing customer inclination toward renewable power generation along with rising applicability of gas-powered turbines across industrial and commercial sectors will augment the business potential. In 2018, Capstone Turbine Corporation developed a new environment air filtration system across microturbine products to reduce GHG emission across various projects in Oman. Furthermore, favourable government policies across co-generation technologies including financial incentives, installation subsidies and tax rebates will propel the product adoption.
Europe and Asia Pacific region in 2019, collectively held over 50% of the overall aeroderivative gas turbine market share. Ongoing advancement of CCGT process plant technology in line with reduced power generation cost and improved performance will further propel the technological adoption. Increasing applicability of open and combined cycle gas turbine across marine and aviation sector owing to light weight and compact design will positively stimulate the product deployment. Moreover, cutting edge 3D printing technology to print metal components for guide vanes for gas fired turbines will enhance flexibility and lower structural weight will drive the product demand.
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Gas Turbine Industry By Application (Power Plants, Oil & Gas, Process plants, Aviation, Marine), Capacity (< 50 KW, 50 KW to 500 KW, > 500 KW to 1 MW, > 1 MW to 30 MW, > 30 MW to 70 MW, > 70 MW to 200 MW, > 200 MW), Products (Aero-Derivative, Heavy Duty), By Technology (Open Cycle, Combined Cycle), Industry Analysis Report, Regional Analysis, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2018 – 2024
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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