Gas turbines are capable of reaching full load operation in a matter of minutes

Gas turbines are capable of reaching full load operation in a matter of minutes

Turbine market

The global market within the prevalent trade regime has been impacted by energy optimisation

Power generation segment of industrial gas turbine market in 2017 accounted for over 40 per cent of the global market share owing to growing focus toward the refurbishment of traditional steam and coal fired power stations with natural gas power generating stations.

China industrial gas turbine market is poised to grow on account of favourable regulatory prospects towards the development of large-scale gas fired power projects and clean energy integration across the nation. Leading global manufacturers have aligned focus towards business expansion across the Chinese industry owing to the escalation in demand and favorable statutory regime. Siemens in 2018, fetched supply orders for its two H-class gas turbines and accessories for the CHD Guangzhou Zengcheng project.

Global Industrial Gas Turbine Market is projected to cross 20 GW by 2024, as reported in the latest study by Global Market Insights, Inc. The global market within the prevalent trade regime has positively been impacted with consumer and regulatory inclination towards energy optimisation. Government mandates to curb emissions along with growing environmental concerns have plunged the integration of competitive energy conservation measures. Moreover, pivotal for the transformation has been the re-structuring across prime power markets leading to rapid technological enhancements. Thereby, the industry has witnessed a salient growth in the field of aerodynamics, materials, combustion, and cooling.

> 200 MW industrial gas turbine market is set to grow subject to large scale integration across power generation units, manufacturing plants, and associated process industries. The products are adept with potent fuel efficiency, environment proximity, and longer life cycle favored by competitive overall costs. Furthermore, ameliorate operational performance along with large capacity configuration and product flexibility, conceal long term cost associated issues which in turn will overall industry dynamics.

The US market is projected surpass an annual installation of 3 GW by 2024. Expansion of research and development (R&D) investment reforms along with shifting focus towards deployment of combined cycle generation systems will boost the product demand. As per the ICF International, turbines fabricated by the US based manufacturers in 2016, contributed to over 70 per cent of the operational natural gas-fired combined cycle projects across the nation.

Increasing turbine demand across process industries coupled with replacement of conventional fuel by sustainable resources across a cluster of small-scale industrial pursuits will thrust the market size. However, the products in the current scenario witness strong technological competition across import dependent developing markets, prominently those without a stringent mandate or reforms on carbon emission or air pollution. Moreover, perpetual technological proliferation along with evolving consumer and regulatory proximity will complement the overall business outlook.

Lower operational costs, enhanced product efficiency, environmental proximity, coupled with sustainable waste heat utilisation are few indispensable factors driving the combined cycle (CC) industrial gas turbine market. Resurgent industrial headway along with rising energy demand and the stabilisation of gas prices have infused a favorable business framework. Moreover, overburdening of traditional energy resources including hydro power and coal in conjunction with regulatory inclination towards energy optimisation will positively sway the industry dynamics.

Prominent market participants comprise of MAN Energy, Zorya-Mashproekt, Ansaldo Energia, UEC Saturn, Capstone Turbine, MHPS, Siemens, BHEL, Opra Turbines, Kawasaki, Wärtsilä, Vericor, Centrax, General Electric, and Solar Turbines.

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