“The Industrial Gas Turbine Market Research Report 2018-2023”: Is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data which enhances the understanding, scope and application of this report.
Companies Include are: General Electric, Siemens AG, Mitsubishi Heavy Industries Ltd, Harbin Electric International Company Limited, Bharat Heavy Electricals Limited, Kawasaki Heavy Industries, Ltd., Ansaldo Energia S.P.A, Solar Turbines, Man Diesel and Turbo SE, MTU Aero Engines Ag/ Vericor Power Systems Llc., and Centrax Industries Ltd, among others.
Gas turbines are one of the most widely used technologies in power generation sector, and their usage dates back to 1939. The factors contributing to the growth of industrial gas turbine market include (but are not limited to) the growing demand for energy, fall in natural gas prices, the low environmental impact and increasing flexibility & efficiency of gas turbines. On the flipside, the factors that impede market growth include the growing importance of renewable energy sources, macroeconomic uncertainties, and currency devaluations, among other factors.
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Low Capital Cost to Drive the Market
The power sector is increasingly becoming cost competitive, and the capital investments required for the development of power infrastructure is also high. Due to the high investment cost, the investment in the development of large coal-fired power stations is unlikely, in particular, those operating with supercritical or ultra-supercritical technology, as these technologies require significantly higher capital costs per MW than those for combined-cycle power plants. However, with a growing interest in gas-fired power generation, the demand for gas turbines, with their lower upfront costs, is expected to increase.
Key Developments in the Market
March 2018: Ecuadors national oil company, Petroecuador, selected Siemens AG for procurement of an 8 MW SGT-300 gas turbine for power generation, to be used in the companys Shushufindi refinery
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Asia-Pacific – Region with the Highest Market Share
Asia-Pacific accounts for the highest market share in 2017, on account of industrial expansion and infrastructure development. Also, most of the governments of emerging economies in Asia-Pacific, like India and China, have been supporting the development of oil & gas projects through policy level initiatives and supportive regulatory framework, which is expected to be a big boost for industrial gas turbine market in the region. Also, the manufacturing sector in Asia-Pacific region is expected to grow supported by the supportive government policies and regulations, i.e., Make in India initiative. Also, the development of liquefied natural gas (LNG) related infrastructure and increase in consumption of natural gas is expected to impact the industrial gas turbine market positively.
China – Among the Leading Countries in the Market
In 2015, China was the highest emitter of carbon dioxide, accounting for 27.3% of the global value. As a result, the Chinese government implemented certain policies and initiatives to promote the uptake of cleaner fuels, like natural gas and renewable energy sources. The power demand from Chinas manufacturing and chemical sectors is a major factor for the countrys huge power requirement. Also, the country’s target is to double the gas-fired power capacity from 56 GW in 2016 to 110 GW by 2020. Owing to the above factors the demand for industrial gas turbine market is expected to increase in China.
The report has 150 tables and figures browse the report description and TOC:
Influence of the Industrial Gas Turbine market report:
-Comprehensive assessment of all opportunities and risk in the Industrial Gas Turbine market.
– Industrial Gas Turbine market recent innovations and major events.
-Detailed study of business strategies for growth of the Industrial Gas Turbine market-leading players.
-Conclusive study about the growth plot of Industrial Gas Turbine market for forthcoming years.
-In-depth understanding of market-particular drivers, constraints and major micro markets.
-Favourable impression inside vital technological and market latest trends striking the market.
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