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[ 英語タイトル ] Gas Turbines Market by Technology (Open Cycle and Combined Cycle), Rating Capacity (Less than 40 MW, 40-120 MW, 120-300 MW, and Above 300 MW), Design Type (Heavy Duty and Aeroderivative), Application (Power and Oil & Gas), and Region - Global Forecast to 2022


Product Code : MNMEP00108915
Survey : MarketsandMarkets
Publish On : February, 2021
Category : Energy and Power
Study Area : Global
Report format : PDF
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[Report Description]

“The gas turbines market is projected to grow at a CAGR of 3.36% from 2017 to 2022.”
The gas turbines market is estimated to be USD 17.51 billion in 2017 and is projected to reach USD 20.66 billion by 2022, at a CAGR of 3.36%, from 2017 to 2022. The increasing demand for natural gas-fired power plants, rising demand for electricity, reduction in emissions of carbon dioxide, and availability of efficient power technology are driving the gas turbines market. Natural gas is the cleanliest source of fossil fuel used to support intermittent generation from renewable sources. Thus, an increase in the demand for natural gas power plants is expected as governments implement strict norms for the emission of carbon dioxide. The shale gas boom in North America and decommissioning of nuclear plants in Europe are likely to boost the demand for gas turbines in these regions. The demand for gas turbines in the Middle East & Africa, Latin America, and Asia Pacific is expected to be influenced by the new gas-fired power plants and the upgrade of old existing thermal power plants in the regions. Natural gas price volatility and natural gas infrastructure concerns are the major restraining factors for the gas turbines market.

“The heavy duty design type segment is expected to grow at the highest CAGR, from 2017 to 2022.”
The heavy duty (frame) type gas turbines segment is expected to be the largest market, accounting for more than two-thirds of the total gas turbines market. The demand for gas turbines for power generation is expected to increase due to stringent emissions standards and high efficiency standards. Combined cycle plants with heavy duty turbines enable high flexibility and low emissions even in part load operations. Thus, with an increase in the number of gas-fired power plants, the demand for heavy duty gas turbines is expected to increase in the power generation sector.
“The above 300 MW rated capacity segment is expected to be the largest market.”
The above 300 MW rated capacity segment is estimated to account for the largest market share during the forecast period. GE and Siemens are the only providers of turbines of this capacity in the global market. The market for this segment is expected to be driven by the new combined cycle power plants that are to come up in Asia Pacific and North America. The replacement of old coal-fired power generation capacity in the US with new large capacity gas-fired power plants would also drive the market.
“The market in Asia Pacific is expected to grow at the highest CAGR from 2017 to 2022.”
The market in Asia Pacific is currently the largest for gas turbines, followed by the North American and European markets. The Japanese market accounted for a majority share of the Asia Pacific market in 2016 while China is projected to grow at the highest CAGR, from 2017 to 2022 The slowdown in the nuclear power industry due to the Fukushima incident and the continuing replacement of nuclear and aging coal plants with gas-fired ones would continue to drive the Japanese gas turbines market. In developing countries such as China and India, the demand for gas turbines is spurred on by factors such as the increasing demand for electricity fueled by high levels of urbanization, industrialization, and infrastructural developments and the subsequent investments in developing new large gas-fired combined cycle power generation.

Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier 1- 40%, Tier 2- 35%, Tier 3- 25%
By Designation: C-Level- 75%, Manager Level- 25%
By Region: Asia Pacific- 40%, Europe- 25%, North America- 15%, Middle East & Africa- 15%, Latin America- 10%
The tier of the companies has been defined on the basis of their total revenue, as of 2016: Tier 1 > USD 5 billion, Tier 2 = < From USD 5 billion to USD 1 billion, and Tier 3 < USD 1 billion
Source: Industry Experts and MarketsandMarkets Analysis

The leading players in the gas turbines market have been profiled with their recent developments and other strategic activities. These include GE (US), Siemens (Germany), MHPS (Japan), and Ansaldo (Italy).
Research Coverage:
From an insight perspective, this research report has focused on various levels of analysis, namely industry analysis (industry trends), market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape, emerging and high-growth segments of the gas turbines market, high-growth regions, and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on products and integrated solutions and services offered by the top players in the global gas turbines market

• Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the gas turbines market.

• Market Development: Comprehensive information about lucrative emerging markets—the report analyzes the markets for gas turbines across regions

• Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the global gas turbines market

• Competitive Assessment: In-depth vendor dive analysis of all the key players and strategies, products, and manufacturing capabilities of the leading players in the global gas turbines market

TABLE OF CONTENTS

1 INTRODUCTION 12
1.1 OBJECTIVES OF THE STUDY 12
1.2 MARKET DEFINITION 12
1.3 MARKETS COVERED 13
1.3.1 YEARS CONSIDERED FOR THE STUDY 14
1.4 CURRENCY 14
1.5 LIMITATIONS 14
1.6 STAKEHOLDERS 15
2 RESEARCH METHODOLOGY 16
2.1 INTRODUCTION 16
2.1.1 SECONDARY DATA 17
2.1.1.1 Key data from secondary sources 17
2.1.2 PRIMARY DATA 18
2.1.2.1 Key data from primary sources 18
2.1.2.2 Key industry insights 19
2.1.2.3 Breakdown of primary interviews 20
2.2 MARKET SIZE ESTIMATION 21
2.2.1 BOTTOM-UP APPROACH 21
2.2.2 TOP-DOWN APPROACH 22
2.3 MARKET BREAKDOWN & DATA TRIANGULATION 23
2.4 RESEARCH ASSUMPTIONS 24
2.4.1 ASSUMPTIONS 24
3 EXECUTIVE SUMMARY 25
4 PREMIUM INSIGHTS 29
4.1 ATTRACTIVE OPPORTUNITIES IN THE GAS TURBINES MARKET, 2017–2022 29
4.2 GAS TURBINES MARKET, BY REGION, 2016 30
4.3 GAS TURBINES MARKET, BY DESIGN TYPE, 2017 & 2022 30
4.4 GAS TURBINES MARKET, BY RATED CAPACITY, 2017 & 2022 31
4.5 GAS TURBINES MARKET, BY APPLICATION, 2017 & 2022 31
5 MARKET OVERVIEW 32
5.1 INTRODUCTION 32
5.1.1 DRIVERS 33
5.1.1.1 Increasing demand for natural gas-fired power plants 33
5.1.1.2 Rising demand for electricity 34
5.1.1.3 Efficient power generation technology 35
5.1.1.4 Reduction in emissions of carbon dioxide 35
5.1.1.5 Impact of shale gas 36
5.1.2 RESTRAINTS 36
5.1.2.1 Natural gas price volatility 36
5.1.2.2 Natural gas infrastructure concerns 36
5.1.3 OPPORTUNITIES 37
5.1.3.1 Increased trend of distributed power generation 37
5.1.3.2 Replacement of phased out nuclear & coal plants 37
5.1.4 CHALLENGES 38
5.1.4.1 Shifting focus toward renewable energy 38
6 GAS TURBINES MARKET, BY TECHNOLOGY 39
6.1 INTRODUCTION 40
6.2 OPEN CYCLE 41
6.3 COMBINED CYCLE 42
7 GAS TURBINES MARKET, BY APPLICATION 43
7.1 INTRODUCTION 44
7.2 POWER GENERATION 45
7.3 OIL & GAS 46
7.4 OTHER INDUSTRIAL APPLICATIONS 47
8 GAS TURBINES MARKET, BY DESIGN TYPE 48
8.1 INTRODUCTION 49
8.2 HEAVY DUTY (FRAME) TYPE 50
8.3 AERODERIVATIVE TYPE 51
9 GAS TURBINES MARKET, BY RATED CAPACITY 52
9.1 INTRODUCTION 53
9.2 ABOVE 300 MW 54
9.3 120–300 MW 55
9.4 40–120 MW 55
9.5 LESS THAN 40 MW 56
10 GAS TURBINES MARKET, BY REGION 57
10.1 INTRODUCTION 58
10.2 ASIA PACIFIC 59
10.2.1 CHINA 63
10.2.2 INDIA 63
10.2.3 AUSTRALIA 64
10.2.4 JAPAN 65
10.2.5 SOUTH KOREA 66
10.2.6 INDONESIA 66
10.2.7 REST OF ASIA PACIFIC 67
10.3 NORTH AMERICA 67
10.3.1 US 71
10.3.2 CANADA 72
10.4 LATIN AMERICA 72
10.4.1 MEXICO 75
10.4.2 ARGENTINA 75
10.4.3 BRAZIL 76
10.4.4 BOLIVIA 77
10.4.5 REST OF LATIN AMERICA 77
10.5 EUROPE 78
10.5.1 RUSSIA 80
10.5.2 GERMANY 81
10.5.3 UK 81
10.5.4 ITALY 82
10.5.5 FRANCE 83
10.5.6 REST OF EUROPE 83
10.6 MIDDLE EAST & AFRICA 84
10.6.1 SAUDI ARABIA 86
10.6.2 UAE 87
10.6.3 IRAN 87
10.6.4 EGYPT 88
10.6.5 REST OF THE MIDDLE EAST & AFRICA 88
11 COMPETITIVE LANDSCAPE 90
11.1 INTRODUCTION 90
11.2 MARKET RANKING ANALYSIS 91
11.2.1 GLOBAL MARKET SCENARIO 91
11.3 COMPETITIVE SITUATION & TRENDS 92
12 COMPANY PROFILES 93
(Business Overview, Product Offering, Strength of Product Portfolio, Business Strategy Excellence, Recent Developments)*
12.1 KAWASAKI HEAVY INDUSTRIES 93
12.2 SIEMENS 97
12.3 GE 111
12.4 MHPS 122
12.5 ANSALDO 130
12.6 HARBIN ELECTRIC 134
12.7 OPRA 136
12.8 MAN DIESEL 138
12.9 SOLAR TURBINES 141
12.10 VERICOR POWER 143
12.11 BHEL 145
12.12 CENTRAX 149
12.13 ZORYA 151
*Details on Business Overview, Product Offering, Strength of Product Portfolio, Business Strategy Excellence, Recent Developments might not be captured in case of unlisted companies.
13 APPENDIX 153
13.1 INSIGHTS OF INDUSTRY EXPERTS 153
13.2 DISCUSSION GUIDE 154
13.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 157
13.4 INTRODUCING RT: REAL TIME MARKET INTELLIGENCE 159
13.5 AVAILABLE CUSTOMIZATIONS 160
13.6 RELATED REPORTS 160
13.7 AUTHOR DETAILS 161

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