Gas turbines market for power industry: Growth opportunities led by Ansaldo Energia Spa and Bharat Heavy Electricals Ltd. - Technavio

NEW YORK, Jan. 9, 2023 /PRNewswire/ -- The gas turbines market for power industry is forecast to grow by USD 3,356.87 million from 2022 to 2027, at a CAGR of 3.05%, according to the recent market study by Technavio. The growth of the market will be driven by the growth of distributed power generation base, an increase in CCGT power plants, and a focus on the reduction of carbon emissions.

Technavio categorizes the global gas turbines market for power industry as a part of the global heavy electrical equipment market, which covers products and companies engaged in the manufacture of equipment for the generation, distribution, and transmission of power for fixed-use and large electrical systems.

Charts & data tables about market and segment sizes for a historic period of five (2017-2021) years have been covered in this report. Download The Sample Report

Technavio has extensively analyzed 15 major vendors, including Ansaldo Energia Spa, Bharat Heavy Electricals Ltd., Capstone Green Energy Corp., Caterpillar Inc., Centrax Ltd., Cryostar, Doosan Corp., General Electric Co., Harbin Electric Co. Ltd., IHI Corp., JSC The Ural Turbine Works, Kawasaki Heavy Industries Ltd., MAN Energy Solutions SE, MAPNA Group Co., Motor Sich JSC, OPRA Technologies B.V., Pumori Energy Ltd., Siemens AG, Vericor Power Systems, and Mitsubishi Heavy Industries Ltd.

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Key Benefits for Industry Players & Stakeholders – 

• The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.
• It also provides detailed analyses of the market's competitive landscape and vendors' product offerings.
• The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

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Customer Landscape - Analysis of Price Sensitivity, Adoption Lifecycle, Customer Purchase Basket, Adoption Rates, and Purchase Criteria by Technavio

• One of the core components of the customer landscape is price sensitivity, an analysis of which will help companies refine marketing strategies to gain a competitive advantage. 
• Another key aspect is price sensitivity drivers (purchases are undifferentiated, the purchase is a key cost to buyers, and quality is not important), which range between LOW and HIGH.
• Furthermore, market adoption rates for all regions have been covered.

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The market is segmented by product (heavy-duty gas turbine and aero-derivative gas turbine), technology (CCGT and OCGT), and geography (APAC, North America, Europe, Middle East and Africa, and South America).

Segmentation by product (Inclusion/Exclusion)

• Heavy-duty gas turbine

The heavy-duty gas turbine segment was valued at USD 10,055.10 million in 2017 and continues to grow until 2021. The high efficiency of heavy-duty gas turbines has increased their adoption in many power plants. In addition, the significant rise in the demand for power generation across the world is driving the growth of the segment.

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What are the key data covered in this gas turbines market for power industry report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the gas turbines market for power industry between 2023 and 2027
• Precise estimation of the size of the gas turbines market size and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the gas turbines market industry across APAC, North America, Europe, Middle East and Africa, and South America
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of gas turbines market vendors

Related Reports:

• The Offshore Wind Turbine Market is poised to grow by 54975 MT during 2022-2026, accelerating at a CAGR of 24% during the forecast period. The market is segmented by geography (EMEA, APAC, and Americas) and substructures (monopiles, gravity foundation, and others).
• The Gas Turbine Market is estimated to grow at a CAGR of 2.81% between 2022 and 2027. The size of the market is forecast to increase by  USD 4,023.23. the market is segmented by product (heavy-duty gas turbine and aeroderivative gas turbine), end-user (power generation, mobility, oil and gas, and others), technology (CCGT and OCGT),  and geography (APAC, North America, Europe, Middle East and Africa, and South America).

Table of contents:

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Technology
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global gas turbines market for power industry 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on Global gas turbines market for power industry 2017 - 2021 ($ million)

• 4.2 Product Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Product Segment 2017 - 2021 ($ million)

• 4.3 Technology Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size – Technology Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Product

• 6.1 Market segments 
• Exhibit 30: Chart on Product - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Product - Market share 2022-2027 (%)

• 6.2 Comparison by Product 
• Exhibit 32: Chart on Comparison by Product
• Exhibit 33: Data Table on Comparison by Product

• 6.3 Heavy-duty gas turbine - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Heavy-duty gas turbine - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Heavy-duty gas turbine - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Heavy-duty gas turbine - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Heavy-duty gas turbine - Year-over-year growth 2022-2027 (%)

• 6.4 Aeroderivative gas turbine - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Aeroderivative gas turbine - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Aeroderivative gas turbine - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Aeroderivative gas turbine - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Aeroderivative gas turbine - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Product 
• Exhibit 42: Market opportunity by Product ($ million)

7 Market Segmentation by Technology

• 7.1 Market segments 
• Exhibit 43: Chart on Technology - Market share 2022-2027 (%)
• Exhibit 44: Data Table on Technology - Market share 2022-2027 (%)

• 7.2 Comparison by Technology 
• Exhibit 45: Chart on Comparison by Technology
• Exhibit 46: Data Table on Comparison by Technology

• 7.3 CCGT - Market size and forecast 2022-2027
• Exhibit 47: Chart on CCGT - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Data Table on CCGT - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Chart on CCGT - Year-over-year growth 2022-2027 (%)
• Exhibit 50: Data Table on CCGT - Year-over-year growth 2022-2027 (%)

• 7.4 OCGT - Market size and forecast 2022-2027
• Exhibit 51: Chart on OCGT - Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Data Table on OCGT - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Chart on OCGT - Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on OCGT - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Technology 
• Exhibit 55: Market opportunity by Technology ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 56: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 57: Chart on Market share by geography 2022-2027 (%)
• Exhibit 58: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 59: Chart on Geographic comparison
• Exhibit 60: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027
• Exhibit 61: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 62: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 63: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 64: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 North America - Market size and forecast 2022-2027
• Exhibit 65: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 66: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 67: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 68: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.5 Europe - Market size and forecast 2022-2027
• Exhibit 69: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 70: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 71: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 73: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 75: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.7 South America - Market size and forecast 2022-2027
• Exhibit 77: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027
• Exhibit 81: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027
• Exhibit 85: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027
• Exhibit 89: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 Japan - Market size and forecast 2022-2027
• Exhibit 93: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.12 India - Market size and forecast 2022-2027
• Exhibit 97: Chart on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on India - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on India - Year-over-year growth 2022-2027 (%)

• 9.13 Canada - Market size and forecast 2022-2027
• Exhibit 101: Chart on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 102: Data Table on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 103: Chart on Canada - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on Canada - Year-over-year growth 2022-2027 (%)

• 9.14 Market opportunity by geography 
• Exhibit 105: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 106: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape 
• Exhibit 107: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 108: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 109: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 110: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 111: Matrix on vendor position and classification

• 12.3 Ansaldo Energia Spa 
• Exhibit 112: Ansaldo Energia Spa - Overview
• Exhibit 113: Ansaldo Energia Spa - Product / Service
• Exhibit 114: Ansaldo Energia Spa - Key news
• Exhibit 115: Ansaldo Energia Spa - Key offerings

• 12.4 Bharat Heavy Electricals Ltd. 
• Exhibit 116: Bharat Heavy Electricals Ltd. - Overview
• Exhibit 117: Bharat Heavy Electricals Ltd. - Business segments
• Exhibit 118: Bharat Heavy Electricals Ltd. - Key offerings
• Exhibit 119: Bharat Heavy Electricals Ltd. - Segment focus

• 12.5 Capstone Green Energy Corp. 
• Exhibit 120: Capstone Green Energy Corp. - Overview
• Exhibit 121: Capstone Green Energy Corp. - Business segments
• Exhibit 122: Capstone Green Energy Corp. - Key news
• Exhibit 123: Capstone Green Energy Corp. - Key offerings
• Exhibit 124: Capstone Green Energy Corp. - Segment focus

• 12.6 Caterpillar Inc. 
• Exhibit 125: Caterpillar Inc. - Overview
• Exhibit 126: Caterpillar Inc. - Business segments
• Exhibit 127: Caterpillar Inc. - Key offerings
• Exhibit 128: Caterpillar Inc. - Segment focus

• 12.7 Cryostar 
• Exhibit 129: Cryostar - Overview
• Exhibit 130: Cryostar - Product / Service
• Exhibit 131: Cryostar - Key offerings

• 12.8 Doosan Corp. 
• Exhibit 132: Doosan Corp. - Overview
• Exhibit 133: Doosan Corp. - Business segments
• Exhibit 134: Doosan Corp. - Key news
• Exhibit 135: Doosan Corp. - Key offerings
• Exhibit 136: Doosan Corp. - Segment focus

• 12.9 General Electric Co. 
• Exhibit 137: General Electric Co. - Overview
• Exhibit 138: General Electric Co. - Business segments
• Exhibit 139: General Electric Co. - Key news
• Exhibit 140: General Electric Co. - Key offerings
• Exhibit 141: General Electric Co. - Segment focus

• 12.10 Harbin Electric Co. Ltd. 
• Exhibit 142: Harbin Electric Co. Ltd. - Overview
• Exhibit 143: Harbin Electric Co. Ltd. - Product / Service
• Exhibit 144: Harbin Electric Co. Ltd. - Key offerings

• 12.11 IHI Corp. 
• Exhibit 145: IHI Corp. - Overview
• Exhibit 146: IHI Corp. - Business segments
• Exhibit 147: IHI Corp. - Key news
• Exhibit 148: IHI Corp. - Key offerings
• Exhibit 149: IHI Corp. - Segment focus

• 12.12 JSC The Ural Turbine Works 
• Exhibit 150: JSC The Ural Turbine Works - Overview
• Exhibit 151: JSC The Ural Turbine Works - Product / Service
• Exhibit 152: JSC The Ural Turbine Works - Key offerings

• 12.13 Kawasaki Heavy Industries Ltd. 
• Exhibit 153: Kawasaki Heavy Industries Ltd. - Overview
• Exhibit 154: Kawasaki Heavy Industries Ltd. - Business segments
• Exhibit 155: Kawasaki Heavy Industries Ltd. - Key news
• Exhibit 156: Kawasaki Heavy Industries Ltd. - Key offerings
• Exhibit 157: Kawasaki Heavy Industries Ltd. - Segment focus

• 12.14 MAN Energy Solutions SE 
• Exhibit 158: MAN Energy Solutions SE - Overview
• Exhibit 159: MAN Energy Solutions SE - Product / Service
• Exhibit 160: MAN Energy Solutions SE - Key offerings

• 12.15 Mitsubishi Heavy Industries Ltd. 
• Exhibit 161: Mitsubishi Heavy Industries Ltd. - Overview
• Exhibit 162: Mitsubishi Heavy Industries Ltd. - Business segments
• Exhibit 163: Mitsubishi Heavy Industries Ltd. - Key news
• Exhibit 164: Mitsubishi Heavy Industries Ltd. - Key offerings
• Exhibit 165: Mitsubishi Heavy Industries Ltd. - Segment focus

• 12.16 OPRA Technologies B.V. 
• Exhibit 166: OPRA Technologies B.V. - Overview
• Exhibit 167: OPRA Technologies B.V. - Product / Service
• Exhibit 168: OPRA Technologies B.V. - Key offerings

• 12.17 Siemens AG 
• Exhibit 169: Siemens AG - Overview
• Exhibit 170: Siemens AG - Business segments
• Exhibit 171: Siemens AG - Key news
• Exhibit 172: Siemens AG - Key offerings
• Exhibit 173: Siemens AG - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 174: Inclusions checklist
• Exhibit 175: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 176: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 177: Research methodology
• Exhibit 178: Validation techniques employed for market sizing
• Exhibit 179: Information sources

• 13.5 List of abbreviations 
• Exhibit 180: List of abbreviations

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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