Lewes, DE -- (SBWire) -- 05/31/2016 --Report forecast the global gas turbine market to grow at a CAGR of 3.49% during the period 2016-2020.
Gas turbines are used mainly in gas-fired power plants; these plants have an internal combustion engine wherein the fuel is mixed with air, leading to ignition. The resultant high-temperature gas is directed toward a gas turbine through a nozzle, which results in rotation of the turbine.
The report covers the present scenario and the growth prospects of the global gas turbine market for 2016-2020. The capacity additions of new gas turbines as well as aftermarket gas turbines in various end-user segments and the average price of various types of gas turbines have been considered in determining the market size.
The market is divided into the following segments based on geography:
- Americas
- APAC
- EMEA
According to the report, a key growth driver is the increasing efficiency and durability of gas turbines. The increasing efficiency of gas turbines is projected to drive their adoption for power generation applications. Stringent carbon emission regulations worldwide; focus on high performance and lower power generating cost; and volatility in fuel costs are driving demand for highly efficient gas turbines.
Further, the report states that one challenge that could hinder market growth is the risk of volatile natural gas prices.
Global Gas Turbine Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
key players in the global gas turbine market: Ansaldo Energia, GE, Kawasaki Heavy Industries, Mitsubishi Hitachi Power Systems, Siemens, and Solar Turbines.
Other Prominent Vendors in the market are: MAN Diesel and Turbo, Motor Sich, Niigata Power Systems, OPRA Turbines and Power Machines.
Market driver
- Increasing efficiency and durability of gas turbines
- For a full, detailed list, view our report
Market challenge
- Risk of volatility in natural gas prices
- For a full, detailed list, view our report
Market trend
- Stringent government regulations worldwide
- For a full, detailed list, view our report
Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
Spanning over 106 pages and 60 Exhibit "Global Gas Turbine Market 2016 - 2020" report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Market segmentation by technology, Market segmentation by design type, Market segmentation by end-user, Geographical segmentation, Vendor landscape, Key vendor analysis, Appendix.
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