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

  • Industry : Power
  • Pages : NA
  • Published Date : NA
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Summary

Report Description

Forecast Period

2024-2028

Market Size (2022)

USD 2.18 Billion

CAGR (2023-2028)

6.56%

Fastest Growing Segment

Combined Cycle

Largest Market

North America

 

Market Overview

The global aeroderivative gas turbine market is a dynamic and vital component of the broader energy and aviation sectors. Aeroderivative gas turbines are a versatile type of gas turbine engine known for their adaptability, high power-to-weight ratios, and rapid response capabilities. They find application in a wide range of industries, including power generation, aviation, industrial processes, and marine propulsion.

One of the key driving factors behind the dominance of aeroderivative gas turbines is their pivotal role in the power generation sector. These turbines are deployed in power plants worldwide, both in open cycle and combined cycle configurations. Open cycle turbines are favored for peaking power plants, offering rapid response to fluctuating electricity demand. Combined cycle power plants, on the other hand, operate continuously and efficiently, catering to baseload power generation needs. Their efficiency and lower environmental impact have made them increasingly attractive as global energy markets transition toward cleaner and more sustainable solutions.

In addition to the power generation sector, aeroderivative gas turbines play an essential role in aviation. They power various types of aircraft, including regional jets, business jets, military transport planes, and helicopters. The aviation industry relies on these turbines for their lightweight design, high thrust output, and ability to perform reliably in varying conditions.

Furthermore, the marine sector benefits from aeroderivative gas turbines' compact size and efficiency, using them for naval vessels, fast passenger ships, and ferries. Their quick acceleration and adaptability to changing operational requirements make them a preferred choice for marine propulsion systems.

Key Market Drivers

Energy Transition and Decarbonization Efforts

One of the primary drivers of the aeroderivative gas turbine market is the global push for energy transition and decarbonization. Governments and industries worldwide are increasingly focused on reducing carbon emissions and transitioning to cleaner energy sources. Aeroderivative gas turbines play a vital role in this transition by providing efficient and flexible power generation solutions. Their ability to quickly ramp up or down makes them ideal for integrating renewable energy sources like wind and solar power into the grid and ensuring grid stability.

Growing Demand for Distributed Energy

The demand for distributed energy generation is on the rise, driven by factors such as grid reliability, energy security, and the need for uninterrupted power supply in remote areas. Aeroderivative gas turbines are well-suited for distributed energy applications due to their compact size, mobility, and rapid start-up capabilities. They are commonly used in combined heat and power (CHP) systems, microgrids, and industrial facilities, meeting the need for localized, reliable power generation.

Expansion of Industrial and Manufacturing Sectors

The industrial and manufacturing sectors are major consumers of aeroderivative gas turbines. As these sectors continue to expand globally, the demand for reliable and efficient power generation solutions grows in tandem. Aeroderivative gas turbines are utilized in various industrial processes, including steel production, chemical manufacturing, and food processing. Their ability to provide both electricity and process heat makes them essential components in these energy-intensive industries.

Flexibility and Grid Stability

The flexibility and grid stability provided by aeroderivative gas turbines are crucial drivers for their market growth. With the increasing integration of intermittent renewable energy sources like wind and solar, the ability to balance power supply and demand becomes paramount. Aeroderivative gas turbines can quickly respond to fluctuations in electricity demand, helping to maintain grid stability. They are often used for peaking power and load-following applications, ensuring a reliable electricity supply even during periods of high demand.

Technological Advancements

Ongoing technological advancements are driving the adoption of aeroderivative gas turbines. Turbine manufacturers are investing in research and development to improve the efficiency, reliability, and environmental performance of their products. Advancements in materials, combustion technology, and control systems have resulted in more efficient and cleaner-burning turbines. Additionally, the integration of digital technologies, such as data analytics and predictive maintenance, enhances turbine performance and reduces downtime, further boosting their attractiveness to end-users.

Natural Gas Availability and Infrastructure

The availability of natural gas, a primary fuel source for aeroderivative gas turbines, is a critical driver for market growth. Regions with abundant natural gas reserves, such as the United States, have seen significant expansion in gas turbine installations. Additionally, the development of natural gas infrastructure, including pipelines and liquefied natural gas (LNG) terminals, facilitates the transport and supply of this fuel source to power generation facilities.


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Key Market Challenges

Environmental Regulations and Emissions Compliance

One of the foremost challenges confronting the aeroderivative gas turbine market is the ever-evolving landscape of environmental regulations and emissions compliance. Governments worldwide are imposing increasingly strict emissions standards to combat climate change and reduce air pollution. Aeroderivative gas turbines must meet stringent emissions limits for nitrogen oxides (NOx), carbon monoxide (CO), and particulate matter (PM). Achieving these standards requires significant research and development investments in emission reduction technologies, such as lean combustion systems and advanced catalytic converters.

Intermittent Renewable Energy Integration

The rising adoption of intermittent renewable energy sources like wind and solar power presents a challenge for aeroderivative gas turbines. These turbines often serve as backup or peaking power sources, providing electricity when renewable energy generation is insufficient. However, managing the intermittent nature of renewables and seamlessly transitioning between power sources while maintaining grid stability can be complex. Turbine manufacturers must develop advanced control systems and grid integration solutions to address these challenges effectively.

Competition from Other Energy Sources

Aeroderivative gas turbines face competition from various other energy sources, including traditional coal and nuclear power plants, as well as emerging technologies like energy storage systems and fuel cells. The declining costs of renewable energy and energy storage solutions, coupled with government incentives, are driving the adoption of alternative power generation methods. Turbine manufacturers must continuously innovate and enhance the efficiency and cost-effectiveness of their products to remain competitive in this evolving landscape.

Volatility in Natural Gas Prices

The aeroderivative gas turbine market is highly dependent on the availability and price of natural gas, a primary fuel source. The volatility of natural gas prices can pose significant challenges for both manufacturers and end-users. Turbine operators must contend with fluctuations in operating costs, impacting the profitability of gas turbine power generation. To mitigate this challenge, manufacturers are developing turbines with greater fuel flexibility, enabling the use of alternative fuels and reducing dependence on natural gas.

Aging Infrastructure and Maintenance Costs

Many aeroderivative gas turbines have been in operation for decades, leading to aging infrastructure and maintenance challenges. As turbines age, they require more frequent maintenance, which can be costly and result in downtime. Manufacturers and operators must invest in modernization and refurbishment programs to extend the lifespan of existing turbines and enhance their efficiency. Additionally, finding skilled personnel to perform maintenance and repairs can be a challenge in some regions.

Key Market Trends

Transition to Cleaner Energy Sources

The global aeroderivative gas turbine market is witnessing a notable trend towards the adoption of cleaner energy sources. As countries and industries strive to reduce their carbon footprint and comply with stringent environmental regulations, aeroderivative gas turbines are increasingly being used in combined cycle power plants and cogeneration systems. These turbines are well-suited for applications that require high efficiency and rapid load-following capabilities, enabling a smoother transition from fossil fuels to cleaner natural gas and renewable energy sources like biogas and hydrogen.

Decentralized Energy Generation

A growing trend in the aeroderivative gas turbine market is the shift towards decentralized energy generation. Aeroderivative turbines are favored for distributed energy projects due to their compact size, mobility, and quick start-up capabilities. They are commonly used in remote locations, industrial facilities, and microgrid setups. This trend aligns with the increasing need for reliable power supply in areas with limited grid connectivity, ensuring uninterrupted operations and reducing reliance on centralized power plants.

Digitalization and IoT Integration

The integration of digital technologies and the Internet of Things (IoT) is transforming the aeroderivative gas turbine market. Turbine manufacturers are incorporating advanced sensors and data analytics tools into their products to enhance performance monitoring, predictive maintenance, and overall operational efficiency. Real-time data from gas turbines is collected and analyzed to optimize combustion processes, reduce downtime, and extend the lifespan of these critical assets. This trend not only improves turbine performance but also lowers operational costs.

Hydrogen Compatibility

Hydrogen is gaining prominence as a clean energy carrier, and the aeroderivative gas turbine market is adapting to accommodate this trend. Turbine manufacturers are developing hydrogen-compatible models that can run on a blend of natural gas and hydrogen, or even pure hydrogen, without compromising efficiency or emissions standards. This makes aeroderivative gas turbines a vital component in the transition to a hydrogen-based energy economy, especially in industries like chemical manufacturing and power generation.

Global Expansion and Market Entry

Market expansion and entry into emerging economies are key trends in the aeroderivative gas turbine market. As developing countries seek to bolster their power generation capacities and industrial capabilities, there is a growing demand for flexible and efficient energy solutions. Aeroderivative gas turbines are well-suited for such scenarios, leading to an increase in international partnerships and collaborations. Turbine manufacturers are establishing a stronger global presence, offering localized support and services to meet the specific needs of diverse markets.

Segmental Insights

Capacity Insights

Up to 500 kW segment dominates in the global aeroderivative gas turbine market in 2022. Aeroderivative gas turbines with a capacity of up to 500 kW cater to a range of applications, including small-scale power generation, combined heat and power (CHP) systems for commercial and industrial facilities, and distributed energy solutions. This segment is characterized by its versatility and suitability for localized power generation. It finds applications in remote locations, such as off-grid power supply for telecommunication towers, as well as in microgrids for communities or military installations. While not the largest capacity segment, the demand for turbines in this range remains steady due to the need for reliable and compact power sources.

The capacity segment of 500 kW to 1 MW represents a significant portion of the aeroderivative gas turbine market. Turbines in this range are often utilized for larger commercial and industrial facilities, including hospitals, universities, and manufacturing plants. They are valued for their ability to provide both electricity and thermal energy, making them efficient for combined heat and power (CHP) applications. Additionally, they play a crucial role in grid support, particularly in regions with intermittent renewable energy sources. Their medium capacity makes them suitable for load-following and peaking power generation, contributing to grid stability.

Technology Insights

Open Cycle segment dominates in the global aeroderivative gas turbine market in 2022. Open cycle aeroderivative gas turbines are known for their simplicity and agility in power generation. These turbines operate on a basic principle, where compressed air is mixed with fuel and ignited in the combustion chamber to produce high-velocity exhaust gases. These gases are then expelled through the turbine blades, generating mechanical energy to drive a generator and produce electricity. Open cycle turbines excel in applications where rapid power generation is required, such as peaking power plants and grid stability support during periods of high electricity demand. Their quick start-up and shutdown times make them ideal for responding to fluctuations in the grid. However, they are typically less energy-efficient than combined cycle turbines.

Open cycle technology is favored in applications requiring rapid response and flexibility, such as peaking power plants and grid support. Combined cycle technology, on the other hand, excels in applications demanding high energy efficiency and continuous operation, such as large-scale power generation and industrial processes.

Combined cycle technology is generally more energy-efficient due to its utilization of waste heat. This efficiency advantage makes it attractive for power plants striving to reduce operating costs and environmental impacts.


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Regional Insights

North America dominates the Global Aeroderivative Gas Turbine Market in 2022. North America, particularly the United States, has been at the forefront of technological innovation and research and development (R&D) efforts in the gas turbine industry. Major turbine manufacturers and aerospace companies based in the region have consistently invested in developing cutting-edge aeroderivative gas turbine technologies. This commitment to innovation has resulted in the production of high-efficiency, environmentally friendly, and reliable gas turbines that cater to a wide range of applications.

North America boasts a robust and extensive energy infrastructure, which includes a well-developed natural gas supply network. This infrastructure facilitates the easy availability and transport of natural gas, a primary fuel source for aeroderivative gas turbines. The region's abundant domestic natural gas reserves, coupled with a well-established supply chain, have made gas turbines an attractive choice for power generation.

The regulatory environment in North America has been conducive to the growth of the aeroderivative gas turbine market. Policies and incentives promoting clean energy, grid stability, and the integration of renewable energy sources have encouraged the deployment of gas turbines, which can rapidly respond to changes in electricity demand. Incentives such as tax credits for combined heat and power (CHP) projects have also driven adoption in industrial and commercial sectors.

North America experiences consistently high energy demand across various sectors, including manufacturing, commercial, and residential. This demand diversity has led to widespread applications for aeroderivative gas turbines, from peaking power plants to distributed energy generation in industries such as oil and gas, aviation, and healthcare.

Recent Developments

  • In May 2022, Capstone Green Energy Corporation announced Cal Microturbine as its official distributor for California, Hawaii, Oregon, Washington, and Nevada, and that it has secured six orders of C65 microturbines across the State of California. These 16 microturbine units will be set up for customers in the oil & gas, hospitality, and agriculture industries. The systems are anticipated to be commissioned in the starting of 2030.
  • In April 2022, General Electric secured an order for a group of six LM2500XPRESS power solutions from Taiwan Power Company for the company’s renewal Tung Hsiao Power Plant project. This power package solution is built using company’s proven technology, LM2500 aeroderivative gas turbine, which is 95% assembled in factory with simplified modules for easier & faster site installation. This plant, having a capacity of 175 MW, will cater to power shortages, support renewable growth, and stabilize the grid in Taiwan.

Key Market Players

  • 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.

By Capacity

By Technology

By Application

By Region
  • Up to 500kW
  • 500kW to 1MW
  • 1MW to 30MW
  • Above 30M
  • Open Cycle
  • Combined Cycle
  • Power Plants
  • Process Plants
  • Aviation
  • Marine
  • North America
  • Europe
  • South America
  • Middle East & Africa
  • Asia Pacific

 

Report Scope:

In this report, the Global Aeroderivative Gas Turbine Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Aeroderivative Gas Turbine Market, By Capacity:

o    Up to 500kW

o   500kW to 1MW

o   1MW to 30MW

o   Above 30M

  • Aeroderivative Gas Turbine Market, By Technology:

o   Open Cycle

o   Combined Cycle

  • Aeroderivative Gas Turbine Market, By Application:

o   Power Plants

o   Process Plants

o   Aviation

o   Marine

  • Aeroderivative Gas Turbine Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe

§  Germany

§  France

§  United Kingdom

§  Italy

§  Spain

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Asia-Pacific

§  China

§  India

§  Japan

§  South Korea

§  Australia

o   Middle East & Africa

§  Saudi Arabia

§  UAE

§  South Africa

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Aeroderivative Gas Turbine Market.

Available Customizations:

Global Aeroderivative Gas Turbine Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

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Table of content

1.    Product Overview

1.1.    Market Definition

1.2.    Scope of the Market

1.2.1.    Markets Covered

1.2.2.    Years Considered for Study

1.2.3.    Key Market Segmentations

2.    Research Methodology

2.1.    Baseline Methodology

2.2.    Key Industry Partners

2.3.    Major Association and Secondary Sources

2.4.    Forecasting Methodology

2.5.    Data Triangulation & Validation

2.6.    Assumptions and Limitations

3.    Executive Summary

4.    Impact of COVID-19 on Global Aeroderivative Gas Turbine Market

5.    Voice of Customer

6.    Global Aeroderivative Gas Turbine Market Overview

7.    Global Aeroderivative Gas Turbine Market Outlook

7.1.    Market Size & Forecast

7.1.1.    By Value

7.2.    Market Share & Forecast

7.2.1.  By Capacity (Up to 500kW, 500kW to 1MW, 1MW to 30MW, Above 30M)

7.2.2.  By Technology (Open Cycle, Combined Cycle)

7.2.3.  By Application (Power Plants, Process Plants, Aviation, Marine)

7.2.4.  By Region (North America, Europe, South America, Middle East & Africa, Asia Pacific)

7.3.    By Company (2022)

7.4.    Market Map

8.    North America Aeroderivative Gas Turbine Market Outlook

8.1.    Market Size & Forecast

8.1.1.    By Value

8.2.    Market Share & Forecast

8.2.1.    By Capacity

8.2.2.    By Technology

8.2.3.    By Application

8.2.4.    By Country

8.2.4.1.        United States Aeroderivative Gas Turbine Market Outlook

8.2.4.1.1.        Market Size & Forecast

8.2.4.1.1.1.    By Value

8.2.4.1.2.        Market Share & Forecast

8.2.4.1.2.1.               By Capacity

8.2.4.1.2.2.               By Technology

8.2.4.1.2.3.               By Application

8.2.4.2.        Canada Aeroderivative Gas Turbine Market Outlook

8.2.4.2.1.        Market Size & Forecast

8.2.4.2.1.1.    By Value

8.2.4.2.2.        Market Share & Forecast

8.2.4.2.2.1.               By Capacity

8.2.4.2.2.2.               By Technology

8.2.4.2.2.3.               By Application

8.2.4.3.        Mexico Aeroderivative Gas Turbine Market Outlook

8.2.4.3.1.        Market Size & Forecast

8.2.4.3.1.1.    By Value

8.2.4.3.2.        Market Share & Forecast

8.2.4.3.2.1.               By Capacity

8.2.4.3.2.2.               By Technology

8.2.4.3.2.3.               By Application

9.    Europe Aeroderivative Gas Turbine Market Outlook

9.1.    Market Size & Forecast

9.1.1.  By Value

9.2.    Market Share & Forecast

9.2.1.    By Capacity

9.2.2.    By Technology

9.2.3.    By Application

9.2.4.    By Country

9.2.4.1.        Germany Aeroderivative Gas Turbine Market Outlook

9.2.4.1.1.        Market Size & Forecast

9.2.4.1.1.1.    By Value

9.2.4.1.2.        Market Share & Forecast

9.2.4.1.2.1.               By Capacity

9.2.4.1.2.2.               By Technology

9.2.4.1.2.3.               By Application

9.2.4.2.        France Aeroderivative Gas Turbine Market Outlook

9.2.4.2.1.        Market Size & Forecast

9.2.4.2.1.1.    By Value

9.2.4.2.2.        Market Share & Forecast

9.2.4.2.2.1.               By Capacity

9.2.4.2.2.2.               By Technology

9.2.4.2.2.3.               By Application

9.2.4.3.        United Kingdom Aeroderivative Gas Turbine Market Outlook

9.2.4.3.1.        Market Size & Forecast

9.2.4.3.1.1.    By Value

9.2.4.3.2.        Market Share & Forecast

9.2.4.3.2.1.               By Capacity

9.2.4.3.2.2.               By Technology

9.2.4.3.2.3.               By Application

9.2.4.4.        Italy Aeroderivative Gas Turbine Market Outlook

9.2.4.4.1.        Market Size & Forecast

9.2.4.4.1.1.    By Value

9.2.4.4.2.        Market Share & Forecast

9.2.4.4.2.1.               By Capacity

9.2.4.4.2.2.               By Technology

9.2.4.4.2.3.               By Application

9.2.4.5.        Spain Aeroderivative Gas Turbine Market Outlook

9.2.4.5.1.        Market Size & Forecast

9.2.4.5.1.1.    By Value

9.2.4.5.2.        Market Share & Forecast

9.2.4.5.2.1.               By Capacity

9.2.4.5.2.2.               By Technology

9.2.4.5.2.3.               By Application

10. South America Aeroderivative Gas Turbine Market Outlook

10.1. Market Size & Forecast

10.1.1.    By Value

10.2. Market Share & Forecast

10.2.1. By Capacity

10.2.2. By Technology

10.2.3. By Application

10.2.4. By Country

10.2.4.1.     Brazil Aeroderivative Gas Turbine Market Outlook

10.2.4.1.1.   Market Size & Forecast

10.2.4.1.1.1.             By Value

10.2.4.1.2.   Market Share & Forecast

10.2.4.1.2.1.            By Capacity

10.2.4.1.2.2.            By Technology

10.2.4.1.2.3.            By Application

10.2.4.2.     Colombia Aeroderivative Gas Turbine Market Outlook

10.2.4.2.1.   Market Size & Forecast

10.2.4.2.1.1.             By Value

10.2.4.2.2.   Market Share & Forecast

10.2.4.2.2.1.            By Capacity

10.2.4.2.2.2.            By Technology

10.2.4.2.2.3.            By Application

10.2.4.3.     Argentina Aeroderivative Gas Turbine Market Outlook

10.2.4.3.1.   Market Size & Forecast

10.2.4.3.1.1.             By Value

10.2.4.3.2.   Market Share & Forecast

10.2.4.3.2.1.            By Capacity

10.2.4.3.2.2.            By Technology

10.2.4.3.2.3.            By Application

11. Middle East & Africa Aeroderivative Gas Turbine Market Outlook

11.1. Market Size & Forecast

11.1.1.    By Value

11.2. Market Share & Forecast

11.2.1. By Capacity

11.2.2. By Technology

11.2.3. By Application

11.2.4. By Country

11.2.4.1.     Saudi Arabia Aeroderivative Gas Turbine Market Outlook

11.2.4.1.1.   Market Size & Forecast

11.2.4.1.1.1.             By Value

11.2.4.1.2.   Market Share & Forecast

11.2.4.1.2.1.            By Capacity

11.2.4.1.2.2.            By Technology

11.2.4.1.2.3.            By Application

11.2.4.2.     UAE Aeroderivative Gas Turbine Market Outlook

11.2.4.2.1.   Market Size & Forecast

11.2.4.2.1.1.             By Value

11.2.4.2.2.   Market Share & Forecast

11.2.4.2.2.1.            By Capacity

11.2.4.2.2.2.            By Technology

11.2.4.2.2.3.            By Application

11.2.4.3.     South Africa Aeroderivative Gas Turbine Market Outlook

11.2.4.3.1.   Market Size & Forecast

11.2.4.3.1.1.             By Value

11.2.4.3.2.   Market Share & Forecast

11.2.4.3.2.1.            By Capacity

11.2.4.3.2.2.            By Technology

11.2.4.3.2.3.            By Application

12. Asia Pacific Aeroderivative Gas Turbine Market Outlook

12.1. Market Size & Forecast

12.1.1.    By Value

12.2. Market Size & Forecast

12.2.1. By Capacity

12.2.2. By Technology

12.2.3. By Application

12.2.4. By Country

12.2.4.1.     China Aeroderivative Gas Turbine Market Outlook

12.2.4.1.1.   Market Size & Forecast

12.2.4.1.1.1.             By Value

12.2.4.1.2.   Market Share & Forecast

12.2.4.1.2.1.            By Capacity

12.2.4.1.2.2.            By Technology

12.2.4.1.2.3.            By Application

12.2.4.2.     India Aeroderivative Gas Turbine Market Outlook

12.2.4.2.1.   Market Size & Forecast

12.2.4.2.1.1.             By Value

12.2.4.2.2.   Market Share & Forecast

12.2.4.2.2.1.            By Capacity

12.2.4.2.2.2.            By Technology

12.2.4.2.2.3.            By Application

12.2.4.3.     Japan Aeroderivative Gas Turbine Market Outlook

12.2.4.3.1.   Market Size & Forecast

12.2.4.3.1.1.             By Value

12.2.4.3.2.   Market Share & Forecast

12.2.4.3.2.1.            By Capacity

12.2.4.3.2.2.            By Technology

12.2.4.3.2.3.            By Application

12.2.4.4.     South Korea Aeroderivative Gas Turbine Market Outlook

12.2.4.4.1.   Market Size & Forecast

12.2.4.4.1.1.  By Value

12.2.4.4.2.   Market Share & Forecast

12.2.4.4.2.1.            By Capacity

12.2.4.4.2.2.            By Technology

12.2.4.4.2.3.            By Application

12.2.4.5.     Australia Aeroderivative Gas Turbine Market Outlook

12.2.4.5.1.   Market Size & Forecast

12.2.4.5.1.1.             By Value

12.2.4.5.2.   Market Share & Forecast

12.2.4.5.2.1.            By Capacity

12.2.4.5.2.2.            By Technology

12.2.4.5.2.3.            By Application

13. Market Dynamics

13.1.   Drivers

13.2.   Challenges

14. Market Trends and Developments

15. Company Profiles

15.1.   General Electric 

15.1.1.         Business Overview

15.1.2.        Key Revenue and Financials  

15.1.3.        Recent Developments

15.1.4.        Key Personnel

15.1.5.        Key Product/Services Offered

15.2.   Siemens Energy AG

15.2.1.        Business Overview

15.2.2.        Key Revenue and Financials  

15.2.3.        Recent Developments

15.2.4.        Key Personnel

15.2.5.        Key Product/Services Offered

15.3.   Mitsubishi Hitachi Power Systems, Ltd.

15.3.1.        Business Overview

15.3.2.        Key Revenue and Financials  

15.3.3.        Recent Developments

15.3.4.        Key Personnel

15.3.5.        Key Product/Services Offered

15.4.   Ansaldo Energia S.p.A.

15.4.1.        Business Overview

15.4.2.        Key Revenue and Financials  

15.4.3.        Recent Developments

15.4.4.        Key Personnel

15.4.5.        Key Product/Services Offered

15.5.   Rolls-Royce plc

15.5.1.        Business Overview

15.5.2.        Key Revenue and Financials  

15.5.3.        Recent Developments

15.5.4.        Key Personnel

15.5.5.        Key Product/Services Offered

15.6.   Raytheon Technologies Corporation

15.6.1.        Business Overview

15.6.2.        Key Revenue and Financials  

15.6.3.        Recent Developments

15.6.4.        Key Personnel

15.6.5.        Key Product/Services Offered

15.7.   Solar Turbines Incorporated (Caterpillar Inc.)

15.7.1.        Business Overview

15.7.2.        Key Revenue and Financials  

15.7.3.        Recent Developments

15.7.4.        Key Personnel

15.7.5.        Key Product/Services Offered

15.8.   Baker Hughes Company 

15.8.1.        Business Overview

15.8.2.        Key Revenue and Financials  

15.8.3.        Recent Developments

15.8.4.        Key Personnel

15.8.5.        Key Product/Services Offered

15.9.   Nanjing Turbine & Electric Machinery (Group) Co., Ltd.

15.9.1.        Business Overview

15.9.2.        Key Revenue and Financials  

15.9.3.        Recent Developments

15.9.4.        Key Personnel

15.9.5.        Key Product/Services Offered

15.10.Kawasaki Heavy Industries, Ltd.

15.10.1.     Business Overview

15.10.2.     Key Revenue and Financials  

15.10.3.     Recent Developments

15.10.4.     Key Personnel

15.10.5.     Key Product/Services Offered

16. Strategic Recommendations

17. About Us & Disclaimer

Figures and Tables

Frequently asked questions

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The market size of the global aeroderivative gas turbine market was estimated to be USD 2.18 Billion in 2022.

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Open cycle is the dominant segment in the global aeroderivative gas turbine market in 2022 by technology.

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The challenges in the global aeroderivative gas turbine market include environmental regulations and emissions compliance, intermittent renewable energy integration, competition from other energy sources, volatility in natural gas prices, etc.

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The major drivers for the global aeroderivative gas turbine market include energy transition and decarbonization efforts, growing demand for distributed energy, expansion of industrial and manufacturing sectors, technological advancements, etc.

Related Reports

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Parvati Sharma

Account Manager BD
Press Release

Aeroderivative Gas Turbine Market Expands with Open Cycle Segment at a robust CAGR

Oct, 2023

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.

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