Market Overview

Global Gas Turbine Market 2018-2022 | Development of GTCC and IGCC Technologies to Boost Growth | Technavio

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Technavio
analysts forecast the global gas turbine market to grow at a CAGR of
over 3% during the forecast period.

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Technavio has published a new market research report on the global gas turbine market from 2018-2022 ...

Technavio has published a new market research report on the global gas turbine market from 2018-2022. (Graphic: Business Wire)

The development of GTCC and IGCC technologies is one of the major trends
being witnessed in the global
gas turbine market 2018-2022
. Gas turbine combined cycle (GTCC)
and integrated coal gasification combined cycle (IGCC) are the two
technologies that utilize gas turbines to satisfy the requirement for
greener power. The adoption of GTCC and IGCC technologies for power
generation is expected to increase substantially during the forecast
period.

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According to Technavio analysts, one of the key factors contributing to
the growth of the global gas turbine market is the enhanced efficiency
and robustness of gas turbines:

Global gas turbine market: Enhanced efficiency
and robustness of gas turbines

The demand for gas turbines is anticipated to increase. This is because
of the increased efficiency, implementation of strict carbon emission
regulations, and the reduction in the cost of power generation when gas
turbines are used. Many leading vendors are investing heavily in the
development of high-efficiency gas turbines.

According to a senior analyst at Technavio for research on unit
operations, "During the forecast period, the global gas turbine
market is anticipated to grow owing to the increased focus of
manufacturers on developing gas turbines with better efficiencies.
Durability is a major area of focus for turbine manufacturers as the
failure of gas turbines causes high financial losses, particularly for
capital-intensive plants."

Global gas turbine market: Segmentation analysis

The global gas turbine market research report provides market
segmentation by product (heavy-duty gas turbine and aero-derivative gas
turbine), by technology (combined-cycle gas turbine and open-cycle gas
turbine), end-user (power generation, mobility, and oil and gas), and by
region (the Americas, APAC, and EMEA). It provides an in-depth analysis
of the prominent factors influencing the market, including drivers,
opportunities, trends, and industry-specific challenges.

Of the two major products, the heavy-duty gas turbine segment held the
largest market share in 2017, contributing to around 72% of the market.
This product segment will dominate the global market throughout the
forecast period.

APAC held the largest share of the market in 2017, accounting for close
to 46% share. It was followed by the Americas and EMEA respectively. The
market share of the APAC region is expected to increase by over 3%
during the period 2018-2022.

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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

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