Aeroderivative Gas Turbine Market Expands with Open Cycle Segment at a robust CAGR
The increasing global aeroderivative gas
turbine market is driven by energy transition and decarbonization efforts,
growing demand for distributed energy during the forecast period 2024-2028.
According to TechSci Research report, “Global Aeroderivative Gas Turbine
Market - Global Industry Size, Share, Trends, Opportunity, and Forecast
2018-2028, The global aeroderivative gas turbine market is a crucial and
dynamic sector that finds applications across diverse industries, including
power generation, aviation, industrial processes, and marine propulsion.
Aeroderivative gas turbines are renowned for their adaptability, high
power-to-weight ratios, and rapid response capabilities, making them integral
to numerous critical operations worldwide.
One of the primary drivers behind the
dominance of aeroderivative gas turbines is their pivotal role in the power
generation sector. These turbines are widely deployed in power plants globally,
operating in various configurations. Open cycle turbines are favored for
peaking power plants due to their ability to provide rapid responses to
fluctuating electricity demand. In contrast, combined cycle power plants
continuously and efficiently produce electricity, catering to baseload power
generation requirements. Their efficiency and lower environmental impact have
contributed to their growing prominence, aligning with global energy markets'
transition to cleaner and more sustainable solutions.
Beyond power generation, aeroderivative
gas turbines have a significant presence in the aviation industry. They power a
wide range of aircraft, including regional jets, business jets, military
transport planes, and helicopters. Their lightweight design, high thrust
output, and reliability in diverse operational conditions make them a preferred
choice for aviation propulsion systems.
Furthermore, the marine sector benefits
from the compact size and efficiency of aeroderivative gas turbines, using them
in naval vessels, fast passenger ships, and ferries. These turbines offer quick
acceleration and adaptability to changing operational needs, making them an
ideal choice for marine propulsion systems.
Browse over XX market data Figures
spread through XX Pages and an in-depth TOC on the "Aeroderivative Gas Turbine Market."
The global aeroderivative gas turbine market
is segmented into capacity, technology, application, and region. Based on capacity,
the market is segmented into up to 500kW, 500kW to 1MW, 1MW to 30MW, Above 30M.
Based on technology, the market is segmented into open cycle, combined cycle. Based
on application, the market is segmented into power plants, process plants,
aviation, marine. Based on region, the market is further bifurcated into North
America, Asia-Pacific, Europe, South America, Middle East & Africa.
Based on application, power plants
dominated in the global aeroderivative gas turbine market in 2022. Power
generation is one of the primary applications for aeroderivative gas turbines,
and it encompasses various segments within the energy sector. Aeroderivative
gas turbines are deployed in both open cycle and combined cycle configurations
to produce electricity efficiently. Power plants that utilize these turbines
often include peaking power plants, which provide electricity during periods of
high demand, and combined cycle power plants, which operate continuously to
meet baseload demand. Combined cycle power plants are particularly prevalent in
this segment due to their high efficiency and lower environmental impact.
Key market players in the global Aeroderivative
Gas Turbine market are: -
- General Electric
- Siemens Energy AG
- Mitsubishi Hitachi Power Systems, Ltd.
- Ansaldo Energia S.p.A.
- Rolls-Royce plc
- Raytheon Technologies Corporation
- Solar Turbines Incorporated
(Caterpillar Inc.)
- Baker Hughes Company
- Nanjing Turbine & Electric
Machinery (Group) Co., Ltd.
- Kawasaki Heavy Industries, Ltd.
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“The global aeroderivative gas turbine
market is a pivotal segment of the energy and aviation industries. These
versatile turbines are known for their adaptability, high power-to-weight
ratios, and rapid response capabilities. They play a crucial role in power
generation, aviation, industrial processes, and marine propulsion.
Aeroderivative gas turbines are favored for their efficiency and lower
environmental impact in power plants, from peaking to baseload operations. In
aviation, the power various aircraft, while the marine sector relies on their
compact design and efficiency. The market's prominence is driven by its ability
to provide reliable and efficient solutions across a wide range of applications.”
said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based global management consulting firm.
“Aeroderivative Gas Turbine Market –
Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By
Capacity (Up to 500kW, 500kW to 1MW, 1MW to 30MW, Above 30M), By Technology
(Open Cycle, Combined Cycle), By Application (Power Plants, Process Plants,
Aviation, Marine), By Region, and By Competition, 2018-2028,” has evaluated the
future growth potential of Global Aeroderivative Gas Turbine Market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Aeroderivative Gas Turbine Market.
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