Gas Turbine Market by Product, End-user, Technology, and Geography — Forecast and Analysis 2020–2024

During 2020–2024 gas turbine market size will grow by USD 2.44 almost at a CAGR of almost 2%.

APAC will provide significant growth opportunities to vendors. During the forecast period the region will account for 50% of the market’s growth.

Market Overview

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Growth in the market will be driven by factors such as the enhanced efficiency of gas turbines. The development of GTCC and IGCC technologies will also have a significant influence on the growth of the gas turbine market during the forecast period.

Though the market will offer several growth opportunities, factors such as will also challenge the growth of the market participants.

Ansaldo Energia Spa, Bharat Heavy Electricals Ltd., Capstone Turbine Corp., and Caterpillar Inc. are some of the key gas turbine market vendors.

The report provides an analysis of the market’s competitive landscape, the strategies adopted by companies to increase their market share, and the key products or services they provide. The report also analyzes the market based on segmentations such as 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, MEA, North America, Europe, and South America). To improve their market positions, the vendors should focus more on the fast-growing segments.

View our report page for more insights on the emerging market trends that will influence the growth of the gas turbine market.