Gas Turbine Market

Gas Turbine Market by Technology (Open Cycle and Combined Cycle), Design Type (Heavy Duty and Aeroderivative), End User (Power Generation, Oil & Gas), Rated Capacity (1–40 MW, 40–120 MW, 120–300 MW, Above 300 MW) and Region (2022-2026)

Report Code: EP 3998 Jan, 2022, by marketsandmarkets.com

[231 Pages Report] The gas turbine market was valued at USD 18.9 Billion in 2021 and is projected to reach USD 22.5 Billion by 2026, at a CAGR of 3.6% during the forecast period. Gas turbines are majorly used for power generation. However, they are also used for mechanical drive purposes and in jet engines.

Gas Turbine Market

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Gas Turbine Market Dynamics

Driver: Rising demand for electricity

Growing industrialization and increasing use of electrical appliances-because of rising economic activities in developing countrieshave escalated electricity demand. According to the Ministry of Statistics and Program Implementation Government of India, electricity production from utilities increased from 13, 03,493 GWh during 2017–2018 to 13,71,779 GWh during 2018-2019, registering an annual growth of about 5.24%. Thus, the strict emission norms followed by developed nations and growing demand for electricity are expected to drive the installation of natural gas power plants, as natural gas emits less carbon dioxide.

Opportunity: Increased trend of distributed power generation

Electricity was previously delivered through small power plants with low voltage DC-based power distribution. Distributed generation can be used for electric supply and mechanical work (providing torque to move objects). The higher efficiency of gas turbines and reliable generation capacity give them an edge over other distributed generation technologies for providing backup power and onsite generation needs. Hence, the rise of distributed power generation represents a major opportunity for the gas turbines market.

Challenge: Shifting focus toward renewable energy

According to the BP Statistical Review of World Energy June 2017, total global natural gas reserves are 186.6 trillion cubic meters, which are enough to last for 55 years at the current consumption rate. If the US starts exporting natural gas to other markets, the reserve to production ratio would significantly decline. At the current production rate, the supply of global natural gas is sufficient to last for only half the time as that of coal, despite coal production and consumption being much higher in the fast-growing economies of Asia Pacific. Solar and wind power plants act as clean sources of energy. Investment in renewable energy is expected to impact fossil-fired power plants. Therefore, limited natural gas reserves pose a challenge to the gas turbines market.

By design type, aeroderivative segment is expected to grow at a faster rate during 2021-2026

Aeroderivative segment is expected to grow at a faster rate during the forecast period. The design for aeroderivative gas turbines is based on aircraft engines or aviation gas turbines. Compared to heavy duty gas turbines, aeroderivative gas turbines weigh less, are easy to install, and are faster to start up.

By rated capacity, above 300MW is expected to grow at a faster rate during the forecast period of 2021 to 2026

Lower emission and more power is expected to drive the market for this segment. A combined cycle refers to the combination of multiple cycles to generate power. They have lower total emissions since the exhaust is utilized for other operational purposes.

By technology, combined cycle segment is expected to grow at a faster rate during the forecast period of 2021 to 2026

Replacement of old coal-fired power generation capacity is expected to drive the growth for this segment. Gas turbines with a rated capacity of above 300 MW exclusively serve large capacity combined cycle power plants. This segment constitutes the most expensive and largest gas turbines currently available.

By end user, the power generation segment is expected to lead the market during the forecast period

The power generation segment is projected to lead the market during 2021-2026. Gas turbine power plants are widely used as medium-sized peak load plants used to run intermittently during short durations of high power demand on an electric system. They are also used as cogeneration plants for industrial plants with high heat load and district heating schemes.

Asia Pacific dominated the gas turbine market in 2020

Asia Pacific dominated the global gas turbine market, in terms of value, in 2020. Investment in new large gas-fired combined cycle power generation plants and large coal-fired plants, along with rising electricity demand, is expected to drive the Asia Pacific gas turbines market's growth. Also, the growth is expected due to rapid regional industrialization, urbanization, and economic growth, leading to the installation of new power plants in various emerging economies.

Gas Turbine Market by Region

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Key Market Players

The key market players include Kawasaki Heavy Industries, Ltd. (Japan), Siemens Energy (Germany), Capstone Green Energy Corporation (US), General Electric (US), Ansaldo Energia (Italy), Mitsubishi Heavy Industries, Ltd. (Japan), United Engine Corporation (Russia), Rolls-Royce plc (England), Harbin Electric Machinery Company Limited  (China), OPRA Turbines (Netherlands), Solar Turbines Incorporated (US), Bharat Heavy Electricals Limited (India), Centrax Gas Turbine (England), MTU Aero Engines AG (Germany), IHI Corporation (Japan), Wartsila (Finland), Doosan Heavy Industries & Construction (South Korea), MAPNA Group (Iran), Vericor Power Systems (US), Zorya Mashproekt (Ukraine), MAN Energy Solutions (Germany). These players have adopted product launches, contracts, partnerships, agreements, collaborations, Memorandum of Understanding (MoU), and joint ventures as their growth strategies.

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Scope of the Report

Report Metric

Details

Market Size Available for Years

2019–2026

Base Year Considered

2020

Forecast Period

2021–2026

Forecast Units

Value (USD Million )

Segments Covered

Design Type, End User, Technology, Rated Capacity, and Region

Geographies Covered

Asia Pacific, North America, Europe, Middle East & Africa, and South America

Companies Covered

Kawasaki Heavy Industries, Ltd. (Japan), Siemens Energy (Germany), Capstone Green Energy Corporation (US), General Electric (US), Ansaldo Energia (Italy), Mitsubishi Heavy Industries, Ltd. (Japan), United Engine Corporation (Russia), Rolls-Royce plc (England), Harbin Electric Machinery Company Limited  (China), OPRA Turbines (Netherlands), Solar Turbines Incorporated (US), Bharat Heavy Electricals Limited (India), Centrax Gas Turbine (England), MTU Aero Engines AG (Germany), IHI Corporation (Japan), Wartsila (Finland), Doosan Heavy Industries & Construction (South Korea), MAPNA Group (Iran), Vericor Power Systems (US), Zorya Mashproekt (Ukraine), MAN Energy Solutions (Germany), Power Machines (Russia), Gas Turbine Research Establishment (India), Hindustan Aeronautics Limited (India), GKN Aerospace Services Limited (England)
(Total of 25 companies)

This research report categorizes the gas turbine market based on design type, end user, technology, rated capacity, and region.

Based on Design Type

The gas turbine market has been segmented as follows:

  • Heavy duty (frame)
  • Aeroderivative

Based on Backing Material

The gas turbine market has been segmented as follows:

  • Power Generation
  • Oil & gas
  • Other industrial (mechanical drive processes in the steel, aluminum, and manufacturing industries)

Based on Technology

The gas turbine market has been segmented as follows:

  • Open Cycle
  • Combined Cycle

Based on Rated Capacity

The gas turbine market has been segmented as follows:

  • 1–40 MW
  • 40–120 MW
  • 120–300 MW
  • Above 300 MW

Based on Region

The gas turbine market has been segmented as follows:

  • Asia Pacific
  • North America
  • Europe
  • Middle East & Africa 
  • South America

Recent Developments:

  • In October 2019, GE launched 7HA.03, the newest version of its HA gas turbine, to power FPL's Dania Beach Clean Energy Center in Fort Lauderdale, Florida.
  • In June 2021, OPRA Turbines signed an agreement with Quanta. This partnership enabled Quanta to become a reseller for OPRA Turbines in the offshore oil & gas segment in the North Sea region.

FAQs

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 31)
    1.1 OBJECTIVES OF STUDY
    1.2 MARKET DEFINITION
    1.3 MARKET SCOPE
           1.3.1 MARKET SEGMENTATION
           1.3.2 REGIONAL SCOPE
    1.4 INCLUSIONS & EXCLUSIONS
           1.4.1 GAS TURBINE MARKET, BY REGION: INCLUSIONS & EXCLUSIONS
           1.4.2 YEARS CONSIDERED FOR STUDY
    1.5 CURRENCY
    1.6 UNIT CONSIDERED
    1.7 RESEARCH LIMITATIONS
    1.8 STAKEHOLDERS
    1.9 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY (Page No. - 36)
    2.1 RESEARCH DATA
           FIGURE 1 GAS TURBINE MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY DATA
                    2.1.1.1 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Key data from primary sources
                    2.1.2.2 Breakdown of primary interviews
    2.2 MATRIX CONSIDERED FOR DEMAND-SIDE
           FIGURE 2 MAIN MATRIX CONSIDERED WHILE CONSTRUCTING AND ASSESSING DEMAND FOR GAS TURBINE
    2.3 MARKET SIZE ESTIMATION
           2.3.1 BOTTOM-UP APPROACH
                    FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
           2.3.2 TOP-DOWN APPROACH
                    FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
                    FIGURE 5 METHODOLOGY FOR SUPPLY-SIDE SIZING OF MARKET
                    FIGURE 6 METHODOLOGY FOR SUPPLY-SIDE SIZING OF MARKET (2/2)
                    2.3.2.1 Calculations for supply-side analysis
           2.3.3 FORECAST
    2.4 GROWTH RATE ASSUMPTIONS/GROWTH FORECAST
    2.5 DATA TRIANGULATION
           FIGURE 7 GAS TURBINE MARKET: DATA TRIANGULATION
    2.6 KEY ASSUMPTIONS WHILE CALCULATING DEMAND-SIDE MARKET SIZE
    2.7 LIMITATIONS
    2.8 RISK ANALYSIS

3 EXECUTIVE SUMMARY (Page No. - 44)
    TABLE 1 GAS TURBINE MARKET SNAPSHOT
    FIGURE 8 ASIA PACIFIC HELD LARGEST SHARE OF MARKET IN 2020
    FIGURE 9 COMBINED CYCLE SEGMENT IS EXPECTED TO LEAD MARKET, BY TECHNOLOGY, DURING FORECAST PERIOD
    FIGURE 10 POWER GENERATION WAS LARGEST END-USER SEGMENT FOR GAS TURBINES IN 2020
    FIGURE 11 GAS TURBINES OF ABOVE 300 MW RATING CAPACITY ARE EXPECTED TO DOMINATE MARKET DURING FORECAST PERIOD

4 PREMIUM INSIGHTS (Page No. - 48)
    4.1 SIGNIFICANT OPPORTUNITIES IN GAS TURBINE MARKET
           FIGURE 12 REPLACEMENT OF PHASED NUCLEAR & COAL POWER PLANTS ALONG WITH REQUIREMENT OF EFFICIENT POWER GENERATION TECHNOLOGY IS EXPECTED TO DRIVE MARKET GROWTH
    4.2 GAS TURBINE MARKET, BY REGION
           FIGURE 13 MARKET IN SOUTH AMERICA IS EXPECTED TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
    4.3 MARKET, BY TECHNOLOGY
           FIGURE 14 COMBINED CYCLE SEGMENT HELD LARGEST SIZE OF MARKET IN 2020
    4.4 MARKET, BY DESIGN TYPE
           FIGURE 15 HEAVY DUTY SEGMENT DOMINATED MARKET IN 2020
    4.5 MARKET, BY RATED CAPACITY
           FIGURE 16 ABOVE 300 MW SEGMENT DOMINATED MARKET IN 2020
    4.6 MARKET, BY END-USER
           FIGURE 17 POWER GENERATION SEGMENT DOMINATED MARKET IN 2020

5 MARKET OVERVIEW (Page No. - 51)
    5.1 INTRODUCTION
    5.2 MARKET DYNAMICS
           FIGURE 18 MARKET DYNAMICS FOR GAS TURBINE MARKET
           5.2.1 DRIVERS
                    5.2.1.1 Increasing demand for natural gas-fired power plants
                               FIGURE 19 NATURAL GAS CONSUMPTION, 2017–2019
                    5.2.1.2 Rising demand for electricity
                               FIGURE 20 GLOBAL ELECTRICITY GENERATION, 2016–2020
                               FIGURE 21 ELECTRICITY GENERATION OF SOME MAJOR COUNTRIES, 2016–2020
                               FIGURE 22 ELECTRICITY GENERATION BY NATURAL GAS OF SOME MAJOR COUNTRIES
                    5.2.1.3 Efficient power generation technology
                    5.2.1.4 Reduction in emission of carbon dioxide
                    5.2.1.5 Impact of shale gas
                               FIGURE 23 IMPACT OF DRIVERS ON GAS TURBINE MARKET
           5.2.2 RESTRAINTS
                    5.2.2.1 Natural gas price volatility
                    5.2.2.2 Natural gas infrastructure concerns
                               FIGURE 24 IMPACT OF RESTRAINTS ON GAS TURBINE MARKET
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Increased trend of distributed power generation
                    5.2.3.2 Replacement of phased out nuclear & coal plants
                               FIGURE 25 US: NATURAL GAS EXPORT, 2016–2020
                               FIGURE 26 IMPACT OF OPPORTUNITIES ON MARKET
           5.2.4 CHALLENGES
                    5.2.4.1 Shifting focus toward renewable energy
                    5.2.4.2 Impact of COVID-19 on gas turbine market
                               FIGURE 27 IMPACT OF CHALLENGES ON MARKET
    5.3 PORTER'S FIVE FORCES ANALYSIS
           FIGURE 28 GAS TURBINE MARKET: PORTER'S FIVE FORCES ANALYSIS
           TABLE 2 GAS TURBINE MARKET: PORTER'S FIVE FORCES ANALYSIS
           5.3.1 THREAT OF NEW ENTRANTS
           5.3.2 THREAT OF SUBSTITUTES
           5.3.3 BARGAINING POWER OF SUPPLIERS
           5.3.4 BARGAINING POWER OF BUYERS
           5.3.5 INTENSITY OF COMPETITIVE RIVALRY
    5.4 ECOSYSTEM/MARKET MAP
           FIGURE 29 GAS TURBINE MARKET: ECOSYSTEM/MARKET MAP
    5.5 PRICING ANALYSIS
           TABLE 3 AVERAGE PRICE OF GAS TURBINE, BY TECHNOLOGY
           FIGURE 30 INSTALLED COST FOR GAS TURBINE
    5.6 CASE STUDY ANALYSIS
           5.6.1 CASE STUDY 1
                    5.6.1.1 2 MS6001B Gas turbine & GTE EcoValue 400i Water Wash System
           5.6.2 CASE STUDY 2
                    5.6.2.1 CHP System for a Chemical Manufacturer: 30 MW-class CHP System with Green Gas Turbine for Chemical Manufacturing
    5.7 IMPACT OF COVID-19 ON SUPPLY CHAIN
    5.8 VALUE CHAIN
           FIGURE 31 GAS TURBINE MARKET: VALUE CHAIN
    5.9 REGULATORY LANDSCAPE
    5.1 TECHNOLOGY ANALYSIS
           5.10.1 NEW REDUCED EMISSIONS
           5.10.2 NEW TURBINES
           5.10.3 ADAPTING TO AN EXTENDED FUEL SPECTRUM
    5.11 TRADE DATA
           5.11.1 GAS TURBINE IMPORT DATA
           5.11.2 GAS TURBINE EXPORT DATA
    5.12 PATENT ANALYSIS
           5.12.1 METHODOLOGY
           5.12.2 DOCUMENT TYPE
                     FIGURE 32 NUMBER OF GRANTED PATENT, PATENT APPLICATION, AND LIMITED PATENT
                     FIGURE 33 PUBLICATION TRENDS - LAST 10 YEARS
    5.13 INSIGHT
           5.13.1 LEGAL STATUS OF THE PATENTS
                     FIGURE 34 LEGAL STATUS OF THE PATENTS
           5.13.2 JURISDICTION ANALYSIS
                     FIGURE 35 TOP JURISDICTION- BY DOCUMENT
           5.13.3 TOP COMPANIES/APPLICANTS
                     FIGURE 36 TOP 10 COMPANIES/APPLICANTS WITH HIGHEST NUMBER OF PATENTS
                     TABLE 4 LIST OF PATENTS BY UNITED TECHNOLOGIES CORP
                     TABLE 5 LIST OF PATENTS BY GEN ELECTRIC
                     TABLE 6 LIST OF PATENTS BY SIEMENS AG
                     TABLE 7 TOP 10 PATENT OWNERS (US) IN LAST 10 Y EARS

6 GAS TURBINE MARKET, BY DESIGN TYPE (Page No. - 77)
    6.1 INTRODUCTION
           FIGURE 37 HEAVY DUTY SEGMENT TO LEAD GAS TURBINE MARKET DURING FORECAST PERIOD
           TABLE 8 MARKET SIZE, BY DESIGN TYPE, 2017–2020 (USD MILLION)
           TABLE 9 MARKET SIZE, BY DESIGN TYPE, 2021–2026 (USD MILLION)
    6.2 HEAVY DUTY
           6.2.1 INCREASED NUMBER OF GAS-FIRED POWER PLANTS TO ENHANCE DEMAND FOR HEAVY DUTY SEGMENT
                    TABLE 10 HEAVY DUTY: MARKET SIZE, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 11 HEAVY DUTY: MARKET SIZE, BY REGION, 2021–2026 (USD MILLION)
    6.3 AERODERIVATIVE
           6.3.1 DEMAND FOR HIGHLY EFFICIENT SIMPLE CYCLE GAS TURBINES IS EXPECTED TO PROPEL DEMAND
                    TABLE 12 AERODERIVATIVE: MARKET SIZE, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 13 AERODERIVATIVE: MARKET SIZE, BY REGION, 2021–2026 (USD MILLION)

7 GAS TURBINE MARKET, BY TECHNOLOGY (Page No. - 81)
    7.1 INTRODUCTION
           FIGURE 38 COMBINED CYCLE SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
           TABLE 14 MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
           TABLE 15 MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)
    7.2 OPEN CYCLE
           7.2.1 LOW COST AND LESSER SPACE REQUIREMENT OF OPEN CYCLE GAS TURBINE IS EXPECTED TO ENHANCE DEMAND OF SEGMENT
                    TABLE 16 OPEN CYCLE: MARKET SIZE, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 17 OPEN CYCLE: MARKET SIZE, BY REGION, 2021–2026 (USD MILLION)
    7.3 COMBINED CYCLE
           7.3.1 MORE POWER AND LOWER EMISSION WILL DRIVE MARKET FOR THIS SEGMENT
                    TABLE 18 COMBINED CYCLE: MARKET SIZE, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 19 COMBINED CYCLE: MARKET SIZE, BY REGION, 2021–2026 (USD MILLION)

8 GAS TURBINE MARKET, BY RATED CAPACITY (Page No. - 85)
    8.1 INTRODUCTION
           FIGURE 39 ABOVE 300 MV SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
           TABLE 20 MARKET SIZE, BY RATED CAPACITY, 2017–2020 (USD MILLION)
           TABLE 21 MARKET SIZE, BY RATED CAPACITY, 2021–2026 (USD MILLION)
    8.2 1–40 MW
           8.2.1 INCREASING INVESTMENT IN DISTRIBUTED POWER GENERATION IS EXPECTED TO ENHANCE DEMAND FOR SEGMENT
                    TABLE 22 1–40 MW: MARKET SIZE, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 23 1–40 MW: MARKET SIZE, BY REGION, 2021–2026 (USD MILLION)
    8.3 40–120 MW
           8.3.1 INCREASED COGENERATION APPLICATIONS IN CHP PLANTS WILL ENHANCE MARKET SEGMENT
                    TABLE 24 40–120 MW: MARKET SIZE, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 25 40–120 MW: MARKET SIZE, BY REGION, 2021–2026 (USD MILLION)
    8.4 120–300 MW
           8.4.1 GROWING DEMAND FOR COMBINED CYCLE POWER PLANTS IS EXPECTED TO ENHANCE DEMAND
                    TABLE 26 120–300 MW: MARKET SIZE, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 27 120–300 MW: MARKET SIZE, BY REGION, 2021–2026 (USD MILLION)
    8.5 ABOVE 300 MW
           8.5.1 REPLACEMENT OF OLD COAL-FIRED POWER GENERATION CAPACITY WILL BE DRIVING FACTOR FOR SEGMENT
                    TABLE 28 ABOVE 300 MW: MARKET SIZE, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 29 ABOVE 300 MW: MARKET SIZE, BY REGION, 2021–2026 (USD MILLION)

9 GAS TURBINE MARKET, BY END-USER (Page No. - 91)
    9.1 INTRODUCTION
           FIGURE 40 POWER GENERATION SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
           TABLE 30 MARKET SIZE, BY END-USER, 2017–2020 (USD MILLION)
           TABLE 31 MARKET SIZE, BY END-USER, 2021–2026 (USD MILLION)
    9.2 POWER GENERATION
           9.2.1 GROWING ELECTRICITY DEMAND IS EXPECTED TO ENHANCE DEMAND FOR GAS TURBINES IN POWER GENERATION
                    TABLE 32 POWER GENERATION: MARKET SIZE, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 33 POWER GENERATION: MARKET SIZE, BY REGION, 2021–2026 (USD MILLION)
    9.3 OIL & GAS
           9.3.1 VARIOUS APPLICATION OF GAS TURBINE IN OIL & GAS INDUSTRY IS EXPECTED TO FUEL DEMAND FOR SEGMENT
                    TABLE 34 OIL & GAS: MARKET SIZE, BY REGION, 2017–2020 (USD MILLION)
                    TABLE 35 OIL & GAS: MARKET SIZE, BY REGION, 2021–2026 (USD MILLION)
    9.4 OTHER INDUSTRIES
           TABLE 36 OTHER INDUSTRIES: MARKET SIZE, BY REGION, 2017–2020 (USD MILLION)
           TABLE 37 OTHER INDUSTRIES: MARKET SIZE, BY REGION, 2021–2026 (USD MILLION)

10 GAS TURBINE MARKET, BY REGION (Page No. - 97)
     10.1 INTRODUCTION
             FIGURE 41 REGIONAL SNAPSHOT: RAPID GROWTH IN DEVELOPING MARKETS
             TABLE 38 GAS TURBINE MARKET SIZE, BY REGION, 2017–2020 (USD MILLION)
             TABLE 39 MARKET SIZE, BY REGION, 2021–2026 (USD MILLION)
     10.2 ASIA PACIFIC
             FIGURE 42 ASIA PACIFIC MARKET SNAPSHOT
             TABLE 40 ASIA PACIFIC: MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
             TABLE 41 ASIA PACIFIC: MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)
             TABLE 42 ASIA PACIFIC: MARKET SIZE, BY DESIGN TYPE, 2017–2020 (USD MILLION)
             TABLE 43 ASIA PACIFIC: MARKET SIZE, BY DESIGN TYPE, 2021–2026 (USD MILLION)
             TABLE 44 ASIA PACIFIC: GAS TURBINE SIZE, BY RATED CAPACITY, 2017–2020 (USD MILLION)
             TABLE 45 ASIA PACIFIC: GAS TURBINE SIZE, BY RATED CAPACITY, 2021–2026 (USD MILLION)
             TABLE 46 ASIA PACIFIC: MARKET SIZE, BY END–USER, 2017–2020 (USD MILLION)
             TABLE 47 ASIA PACIFIC: MARKET SIZE, BY END–USER, 2021–2026 (USD MILLION)
             TABLE 48 ASIA PACIFIC: MARKET SIZE, BY COUNTRY 2017–2020 (USD MILLION)
             TABLE 49 ASIA PACIFIC: MARKET SIZE, BY COUNTRY 2021–2026 (USD MILLION)
             10.2.1 CHINA
                        10.2.1.1 Increase in electricity demand is driving growth of gas turbine market
                                     TABLE 50 CHINA: MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
                                     TABLE 51 CHINA: MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)
             10.2.2 INDIA
                        10.2.2.1 India is moving towards a hydrogen economy, driving growth of gas turbine market
                                     TABLE 52 INDIA: MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
                                     TABLE 53 INDIA: MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)
             10.2.3 JAPAN
                        10.2.3.1 Japan's increase in natural gas consumption drives gas turbine market
                                     TABLE 54 JAPAN: MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
                                     TABLE 55 JAPAN: MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)
             10.2.4 SOUTH KOREA
                        10.2.4.1 Natural gas consumption is expected to increase due to increased electricity
                                     TABLE 56 SOUTH KOREA: MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
                                     TABLE 57 SOUTH KOREA: MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)
             10.2.5 REST OF ASIA PACIFIC
                        TABLE 58 REST OF ASIA PACIFIC: MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
                        TABLE 59 REST OF ASIA PACIFIC: MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)
     10.3 EUROPE
             FIGURE 43 EUROPE: GAS TURBINE MARKET SNAPSHOT
             TABLE 60 EUROPE: MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
             TABLE 61 EUROPE: MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)
             TABLE 62 EUROPE: MARKET SIZE, BY DESIGN TYPE, 2017–2020 (USD MILLION)
             TABLE 63 EUROPE: MARKET SIZE, BY DESIGN TYPE, 2021–2026 (USD MILLION)
             TABLE 64 EUROPE: GAS TURBINE SIZE, BY RATED CAPACITY, 2017–2020 (USD MILLION)
             TABLE 65 EUROPE: GAS TURBINE SIZE, BY RATED CAPACITY, 2021–2026 (USD MILLION)
             TABLE 66 EUROPE: MARKET SIZE, BY END–USER, 2017–2020 (USD MILLION)
             TABLE 67 EUROPE: MARKET SIZE, BY END–USER, 2021–2026 (USD MILLION)
             TABLE 68 EUROPE: MARKET SIZE, BY COUNTRY 2017–2020 (USD MILLION)
             TABLE 69 EUROPE: MARKET SIZE, BY COUNTRY 2021–2026 (USD MILLION)
             10.3.1 GERMANY
                        10.3.1.1 Increase in demand for new gas-fired power plant capacity, expected to drive gas turbine market in Germany
                                     TABLE 70 GERMANY: GAS TURBINE MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
                                     TABLE 71 GERMANY: MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)
             10.3.2 UK
                        10.3.2.1 Focus on renewables and natural gas-driven energy drives demand for gas turbine
                                     TABLE 72 UK: MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
                                     TABLE 73 UK: MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)
             10.3.3 ITALY
                        10.3.3.1 Natural gas being one of the major sources of power generation, is expected to drive market
                                     TABLE 74 ITALY: MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
                                     TABLE 75 ITALY: MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)
             10.3.4 RUSSIA
                        10.3.4.1 Growing investments related to natural gas and its usage will fuel market
                                     TABLE 76 RUSSIA: MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
                                     TABLE 77 RUSSIA: MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)
             10.3.5 REST OF EUROPE
                        TABLE 78 REST OF EUROPE: MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
                        TABLE 79 REST OF EUROPE: MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)
     10.4 NORTH AMERICA
             FIGURE 44 NORTH AMERICAN MARKET SNAPSHOT
             TABLE 80 NORTH AMERICA: MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
             TABLE 81 NORTH AMERICA: MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)
             TABLE 82 NORTH AMERICA: MARKET SIZE, BY DESIGN TYPE, 2017–2020 (USD MILLION)
             TABLE 83 NORTH AMERICA: MARKET SIZE, BY DESIGN TYPE, 2021–2026 (USD MILLION)
             TABLE 84 NORTH AMERICA: GAS TURBINE SIZE, BY RATED CAPACITY, 2017–2020 (USD MILLION)
             TABLE 85 NORTH AMERICA: GAS TURBINE SIZE, BY RATED CAPACITY, 2021–2026 (USD MILLION)
             TABLE 86 NORTH AMERICA: MARKET SIZE, BY END–USER, 2017–2020 (USD MILLION)
             TABLE 87 NORTH AMERICA: MARKET SIZE, BY END–USER, 2021–2026 (USD MILLION)
             TABLE 88 NORTH AMERICA: MARKET SIZE, BY COUNTRY 2017–2020 (USD MILLION)
             TABLE 89 NORTH AMERICA: MARKET SIZE, BY COUNTRY 2021–2026 (USD MILLION)
             10.4.1 US
                        10.4.1.1 Growth of new cogeneration and combined cycle power plants is expected to drive market
                                     TABLE 90 US: MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
                                     TABLE 91 US: MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)
             10.4.2 CANADA
                        10.4.2.1 Growing number of combined cycle natural gas-fired power plants is expected to drive market
                                     TABLE 92 CANADA: MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
                                     TABLE 93 CANADA: MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)
             10.4.3 MEXICO
                        10.4.3.1 Growing investments in power sector will lead to an increase in demand for gas turbine
                                     TABLE 94 MEXICO: MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
                                     TABLE 95 MEXICO: MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)
     10.5 MIDDLE EAST & AFRICA
             TABLE 96 MIDDLE EAST & AFRICA: MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
             TABLE 97 MIDDLE EAST & AFRICA: MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)
             TABLE 98 MIDDLE EAST & AFRICA: MARKET SIZE, BY DESIGN TYPE, 2017–2020 (USD MILLION)
             TABLE 99 MIDDLE EAST & AFRICA: MARKET SIZE, BY DESIGN TYPE, 2021–2026 (USD MILLION)
             TABLE 100 MIDDLE EAST & AFRICA: GAS TURBINE SIZE, BY RATED CAPACITY, 2017–2020 (USD MILLION)
             TABLE 101 MIDDLE EAST & AFRICA: GAS TURBINE SIZE, BY RATED CAPACITY, 2021–2026 (USD MILLION)
             TABLE 102 MIDDLE EAST & AFRICA: MARKET SIZE, BY END–USER, 2017–2020 (USD MILLION)
             TABLE 103 MIDDLE EAST & AFRICA: MARKET SIZE, BY END–USER, 2021–2026 (USD MILLION)
             TABLE 104 MIDDLE EAST & AFRICA: MARKET SIZE, BY COUNTRY, 2017–2020 (USD MILLION)
             TABLE 105 MIDDLE EAST & AFRICA: MARKET SIZE, BY COUNTRY, 2021–2026 (USD MILLION)
             10.5.1 SAUDI ARABIA
                        10.5.1.1 Efforts to increase natural gas-fired power generation are expected to boost Saudi Arabia’s demand for market
                                     TABLE 106 SAUDI ARABIA: MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
                                     TABLE 107 SAUDI ARABIA: MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)
             10.5.2 UAE
                        10.5.2.1 Growing demand for electricity is expected to drive market
                                     TABLE 108 UAE: MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
                                     TABLE 109 UAE: MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)
             10.5.3 IRAN
                        10.5.3.1 Growing domestic demand for power is expected to drive market
                                     TABLE 110 IRAN: MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
                                     TABLE 111 IRAN: MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)
             10.5.4 EGYPT
                        10.5.4.1 Natural gas being major electricity generation fuel, is expected to propel demand for gas turbine
                                     TABLE 112 EGYPT: MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
                                     TABLE 113 EGYPT: MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)
             10.5.5 REST OF MIDDLE EAST & AFRICA
                        TABLE 114 REST OF MIDDLE EAST & AFRICA: MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
                        TABLE 115 REST OF MIDDLE EAST & AFRICA: MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)
     10.6 SOUTH AMERICA
             TABLE 116 SOUTH AMERICA: MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
             TABLE 117 SOUTH AMERICA: MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)
             TABLE 118 SOUTH AMERICA: MARKET SIZE, BY DESIGN TYPE, 2017–2020 (USD MILLION)
             TABLE 119 SOUTH AMERICA: MARKET SIZE, BY DESIGN TYPE, 2021–2026 (USD MILLION)
             TABLE 120 SOUTH AMERICA: GAS TURBINE SIZE, BY RATED CAPACITY, 2017–2020 (USD MILLION)
             TABLE 121 SOUTH AMERICA: GAS TURBINE SIZE, BY RATED CAPACITY, 2021–2026 (USD MILLION)
             TABLE 122 SOUTH AMERICA: MARKET SIZE, BY END–USER, 2017–2020 (USD MILLION)
             TABLE 123 SOUTH AMERICA: MARKET SIZE, BY END–USER, 2021–2026 (USD MILLION)
             TABLE 124 SOUTH AMERICA: MARKET SIZE, BY COUNTRY, 2017–2020 (USD MILLION)
             TABLE 125 SOUTH AMERICA: MARKET SIZE, BY COUNTRY, 2021–2026 (USD MILLION)
             10.6.1 BRAZIL
                        10.6.1.1 Country's oil & gas sector is expected to boost market
                                     TABLE 126 BRAZIL: MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
                                     TABLE 127 BRAZIL: MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)
             10.6.2 ARGENTINA
                        10.6.2.1 Growing utilization of natural gas for production of electricity is expected to be one of the major growth factors for gas turbines in country
                                     TABLE 128 ARGENTINA: MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
                                     TABLE 129 ARGENTINA: MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)
             10.6.3 REST OF SOUTH AMERICA
                        TABLE 130 REST OF SOUTH AMERICA: MARKET SIZE, BY TECHNOLOGY, 2017–2020 (USD MILLION)
                        TABLE 131 REST OF SOUTH AMERICA: MARKET SIZE, BY TECHNOLOGY, 2021–2026 (USD MILLION)

11 COMPETITIVE LANDSCAPE (Page No. - 131)
     11.1 KEY PLAYERS' STRATEGIES
             TABLE 132 OVERVIEW OF KEY STRATEGIES ADOPTED BY TOP PLAYERS, 2018–2021
     11.2 REVENUE ANALYSIS
             FIGURE 45 REVENUE SHARE ANALYSIS IN MARKET
     11.3 MARKET SHARE ANALYSIS
             FIGURE 46 MARKET: MARKET SHARE ANALYSIS
             TABLE 133 MARKET: DEGREE OF COMPETITION
             11.3.1 GENERAL ELECTRIC
             11.3.2 MITSUBISHI HEAVY INDUSTRIES, LTD.
             11.3.3 SIEMENS ENERGY
             11.3.4 ANSALDO ENERGIA
             11.3.5 UNITED ENGINE CORPORATION
             11.3.6 KAWASAKI HEAVY INDUSTRIES, LTD.
                        TABLE 134 MARKET: TECHNOLOGY FOOTPRINT
                        TABLE 135 MARKET: DESIGN FOOTPRINT
                        TABLE 136 MARKET: REGION FOOTPRINT
     11.4 COMPANY EVALUATION QUADRANT
             11.4.1 STARS
             11.4.2 PERVASIVE
             11.4.3 EMERGING LEADERS
             11.4.4 PARTICIPANTS
           FIGURE 47 MARKET (GLOBAL) COMPETITIVE LEADERSHIP MAPPING, 2020
     11.5 COMPETITIVE LEADERSHIP MAPPING OF SME, 2020
             11.5.1 PROGRESSIVE COMPANIES
             11.5.2 RESPONSIVE COMPANIES
             11.5.3 STARTING BLOCKS
             11.5.4 DYNAMIC COMPANIES
                        FIGURE 48 OTHER ADDITIONAL PLAYERS/SMES EVALUATION MATRIX FOR MARKET
     11.6 COMPETITIVE SCENARIO
             TABLE 137 MARKET: PRODUCT LAUNCHES, 2018–2021
             TABLE 138 MARKET: DEALS, 2018–2021
             TABLE 139 MARKET: OTHER DEVELOPMENTS, 2018–2021

12 COMPANY PROFILES (Page No. - 158)
(Business Overview, Products/Solutions/Services Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))* 
             12.1.1 GENERAL ELECTRIC
                        TABLE 140 GENERAL ELECTRIC: COMPANY OVERVIEW
                        FIGURE 49 GENERAL ELECTRIC: COMPANY SNAPSHOT
                        TABLE 141 GENERAL ELECTRIC: PRODUCT OFFERINGS
                        TABLE 142 GENERAL ELECTRIC: PRODUCT LAUNCHES
                        TABLE 143 GENERAL ELECTRIC: DEAL
                        TABLE 144 GENERAL ELECTRIC: OTHERS
             12.1.2 MITSUBISHI HEAVY INDUSTRIES, LTD.
                        TABLE 145 MITSUBISHI HEAVY INDUSTRIES, LTD.: COMPANY OVERVIEW
                        FIGURE 50 MITSUBISHI HEAVY INDUSTRIES, LTD.: COMPANY SNAPSHOT
                        TABLE 146 MITSUBISHI HEAVY INDUSTRIES, LTD.: PRODUCT OFFERINGS
                        TABLE 147 MITSUBISHI HEAVY INDUSTRIES, LTD.: DEAL
                        TABLE 148 MITSUBISHI HEAVY INDUSTRIES, LTD.: OTHERS
             12.1.3 SIEMENS ENERGY
                        TABLE 149 SIEMENS ENERGY: COMPANY OVERVIEW
                        FIGURE 51 SIEMENS ENERGY: COMPANY SNAPSHOT
                        TABLE 150 SIEMENS ENERGY: PRODUCT OFFERINGS
                        TABLE 151 SIEMENS ENERGY: DEALS
             12.1.4 ANSALDO ENERGIA
                        TABLE 152 ANSALDO ENERGIA: COMPANY OVERVIEW
                        FIGURE 52 ANSALDO ENERGIA: COMPANY SNAPSHOT
                        TABLE 153 ANSALDO ENERGIA: PRODUCT OFFERINGS
                        TABLE 154 ANSALDO ENERGIA: PRODUCT LAUNCHES
                        TABLE 155 ANSALDO ENERGIA: DEALS
                        TABLE 156 ANSALDO ENERGIA: OTHERS
             12.1.5 UNITED ENGINE CORPORATION
                        TABLE 157 UNITED ENGINE CORPORATION: COMPANY OVERVIEW
                        TABLE 158 UNITED ENGINE CORPORATION: PRODUCT OFFERINGS
                        TABLE 159 UNITED ENGINE CORPORATION: OTHERS
             12.1.6 KAWASAKI HEAVY INDUSTRIES, LTD.
                        TABLE 160 KAWASAKI HEAVY INDUSTRIES, LTD.: COMPANY OVERVIEW
                        FIGURE 53 KAWASAKI HEAVY INDUSTRIES, LTD.: COMPANY SNAPSHOT
                        TABLE 161 KAWASAKI HEAVY INDUSTRIES, LTD.: PRODUCT OFFERINGS
                        TABLE 162 KAWASAKI HEAVY INDUSTRIES, LTD.: DEALS
                        TABLE 163 KAWASAKI HEAVY INDUSTRIES, LTD.: OTHERS
             12.1.7 CAPSTONE GREEN ENERGY CORPORATION
                        TABLE 164 CAPSTONE GREEN ENERGY CORPORATION: COMPANY OVERVIEW
                        FIGURE 54 CAPSTONE GREEN ENERGY CORPORATION: COMPANY SNAPSHOT
                        TABLE 165 CAPSTONE GREEN ENERGY CORPORATION: PRODUCT OFFERINGS
                        TABLE 166 CAPSTONE GREEN ENERGY CORPORATION: DEALS
             12.1.8 ROLLS-ROYCE PLC
                        TABLE 167 ROLLS-ROYCE PLC: COMPANY OVERVIEW
                        FIGURE 55 ROLLS-ROYCE PLC: COMPANY SNAPSHOT
                        TABLE 168 ROLLS-ROYCE PLC: PRODUCT OFFERINGS
             12.1.9 HARBIN ELECTRIC MACHINERY COMPANY LIMITED
                        TABLE 169 HARBIN ELECTRIC MACHINERY COMPANY LIMITED: COMPANY OVERVIEW
                        FIGURE 56 HARBIN ELECTRIC MACHINERY COMPANY LIMITED: COMPANY SNAPSHOT
                        TABLE 170 HARBIN ELECTRIC MACHINERY COMPANY LIMITED: PRODUCT OFFERINGS
             12.1.10 OPRA TURBINES
                        TABLE 171 OPRA TURBINES: COMPANY OVERVIEW
                        TABLE 172 OPRA TURBINES: PRODUCT OFFERINGS
                        TABLE 173 OPRA TURBINES: DEALS
             12.1.11 SOLAR TURBINES INCORPORATED
                        TABLE 174 SOLAR TURBINES INCORPORATED: COMPANY OVERVIEW
                        TABLE 175 SOLAR TURBINES INCORPORATED: PRODUCT OFFERINGS
             12.1.12 BHARAT HEAVY ELECTRICALS LIMITED
                        TABLE 176 BHARAT HEAVY ELECTRICALS LIMITED: COMPANY OVERVIEW
                        FIGURE 57 BHARAT HEAVY ELECTRICALS LIMITED: COMPANY SNAPSHOT
                        TABLE 177 BHARAT HEAVY ELECTRICALS LIMITED: PRODUCT OFFERINGS
             12.1.13 CENTRAX GAS TURBINE
                        TABLE 178 CENTRAX GAS TURBINE: COMPANY OVERVIEW
                        TABLE 179 CENTRAX GAS TURBINE: PRODUCT OFFERINGS
             12.1.14 MTU AERO ENGINES AG
                        TABLE 180 MTU AERO ENGINES AG: COMPANY OVERVIEW
                        FIGURE 58 MTU AERO ENGINES AG: COMPANY SNAPSHOT
                        TABLE 181 MTU AERO ENGINES AG: PRODUCT OFFERINGS
                        TABLE 182 MTU AERO ENGINES AG: DEALS
                        TABLE 183 MTU AERO ENGINES AG: OTHERS
             12.1.15 IHI CORPORATION
                        TABLE 184 IHI CORPORATION: COMPANY OVERVIEW
                        FIGURE 59 IHI CORPORATION: COMPANY SNAPSHOT
                        TABLE 185 IHI CORPORATION: PRODUCT OFFERINGS
                        TABLE 186 IHI CORPORATION: DEALS
                        TABLE 187 WARTSILA: COMPANY OVERVIEW
                        FIGURE 60 WARTSILA: COMPANY SNAPSHOT
                        TABLE 188 WARTSILA: PRODUCT OFFERINGS
                        TABLE 189 WARTSILA: DEALS
                        TABLE 190 WARTSILA: OTHERS
             12.1.17 DOOSAN HEAVY INDUSTRIES & CONSTRUCTION
                        TABLE 191 DOOSAN HEAVY INDUSTRIES & CONSTRUCTION: COMPANY OVERVIEW
                        FIGURE 61 DOOSAN HEAVY INDUSTRIES & CONSTRUCTION: COMPANY SNAPSHOT
                        TABLE 192 DOOSAN HEAVY INDUSTRIES & CONSTRUCTION: PRODUCT OFFERINGS
                        TABLE 193 DOOSAN HEAVY INDUSTRIES & CONSTRUCTION: DEALS
             12.1.18 MAPNA GROUP
                        TABLE 194 MAPNA GROUP: COMPANY OVERVIEW
                        TABLE 195 MAPNA GROUP: PRODUCT OFFERINGS
                        TABLE 196 MAPNA GROUP: DEALS
                        TABLE 197 MAPNA GROUP: OTHERS
             12.1.19 VERICOR POWER SYSTEMS
                        TABLE 198 VERICOR POWER SYSTEMS: COMPANY OVERVIEW
                        TABLE 199 VERICOR POWER SYSTEMS: PRODUCT OFFERINGS
                        TABLE 200 VERICOR POWER SYSTEMS: DEALS
             12.1.20 ZORYA MASHPROEKT
                        TABLE 201 ZORYA MASHPROEK: COMPANY OVERVIEW
                        TABLE 202 ZORYA MASHPROEKT: PRODUCT OFFERINGS
                        TABLE 203 ZORYA MASHPROEKT: DEALS
                        TABLE 204 ZORYA MASHPROEKT: OTHERS
             12.1.21 MAN ENERGY SOLUTIONS
                        TABLE 205 MAN ENERGY SOLUTIONS: COMPANY OVERVIEW
                        TABLE 206 MAN ENERGY SOLUTIONS: PRODUCT OFFERINGS
                        TABLE 207 MAN ENERGY SOLUTIONS: OTHERS
     12.2 OTHER PLAYERS
             12.2.1 POWER MACHINES
                        TABLE 208 POWER MACHINES: COMPANY OVERVIEW
             12.2.2 GAS TURBINE RESEARCH ESTABLISHMENT
                        TABLE 209 GAS TURBINE RESEARCH ESTABLISHMENT: COMPANY OVERVIEW
             12.2.3 HINDUSTAN AERONAUTICS LIMITED
                        TABLE 210 HINDUSTAN AERONAUTICS LIMITED: COMPANY OVERVIEW
             12.2.4 GKN AEROSPACE SERVICES LIMITED
                        TABLE 211 GKN AEROSPACE SERVICE LIMITED: COMPANY OVERVIEW
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies. 
     12.1 KEY COMPANIES

13 APPENDIX (Page No. - 225)
     13.1 DISCUSSION GUIDE
     13.2 KNOWLEDGE STORE: MARKETSANDMARKETS SUBSCRIPTION PORTAL
     13.3 AVAILABLE CUSTOMIZATIONS
     13.4 RELATED REPORTS
     13.5 AUTHOR DETAILS

The study involved four major activities in estimating the current size of the gas turbine market. Exhaustive secondary research was done to collect information on the market, peer markets, and parent market. The next step was to validate these findings, assumptions, and sizing with the industry experts across the gas turbine value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.

Secondary Research

Secondary sources referred to for this research study include annual reports; press releases and investor presentations of companies; white papers; certified publications; and articles by recognized authors, gold- and silver-standard websites, gas turbine manufacturing companies, regulatory bodies, trade directories, and databases. The secondary research was mainly used to obtain key information about the industry’s supply chain, the total pool of key players, market classification, and segmentation according to industry trends to the bottom-most level and regional markets. It has also been used to obtain information about key developments from a market-oriented perspective.

Primary Research

The gas turbine market comprises several stakeholders, such as raw material suppliers, processors, end-use industries, and regulatory organizations in the supply chain. The demand side of the market is characterized by the presence of gas turbine manufacturers, importers/exporters, and manufacturers engaged in the production of various products. The supply side is characterized by the presence of key technology providers for gas turbine, end users, researchers, and service providers.

In the primary research process, various primary sources from the supply and demand sides of the market have been interviewed to obtain qualitative and quantitative information. The primary interviewees from the demand side included key opinion leaders, executives, vice presidents, and CEOs of construction companies. The primary sources from the supply side included research institutions involved in R&D activities to introduce new technologies, key opinion leaders, distributors, and gas turbine manufacturing companies.

Gas Turbine Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both the top-down and bottom-up approaches have been used to estimate and validate the total size of the gas turbine market. These approaches have also been used extensively to estimate the size of various dependent subsegments of the market. The research methodology used to estimate the market size included the following:

The following segments provide details about the overall market size estimation process employed in this study

  • The key players in the market were identified through secondary research.
  • The market shares in the respective regions were identified through both primary and secondary research.
  • The value chain and market size of the market, in terms of value, were determined through primary and secondary research.
  • All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.
  • All possible parameters that affect the market covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
  • The research included the study of annual and financial reports of the top market players and interviews with industry experts, such as CEOs, VPs, directors, sales managers, and marketing executives, for key insights, both quantitative and qualitative.

Global Gas Turbine Market Size: Bottom-Up Approach

Gas Turbine Market Size, and Bottom-Up Approach

Report Objectives

Market Intelligence

  • To analyze and forecast the size of the gas turbine market in terms of value
  • To define, describe, and forecast the market size by design, technology, end use, rated capacity, and region
  • To forecast the market size with respect to five main regions, namely, North America, Europe, Asia Pacific, the Middle East & Africa, and South America
  • To provide detailed information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
  • To strategically analyze the market segments with respect to individual growth trends, prospects, and their contribution to the market
  • To analyze the opportunities in the market for stakeholders and provide a competitive landscape for market leaders
  • To analyze competitive developments, such as product launches, contracts, partnerships, agreements, collaborations, Memorandum of Understanding (MoU), and joint ventures as in the gas turbine market

Competitive Intelligence

  • To identify and profile the key players in the gas turbine market
  • To determine the top players offering various products in the global market
  • To provide a comparative analysis of the market leaders based on the following:
  • Product offerings
  • Business strategies
  • Strengths and weaknesses
  • Key financials
  • To understand the competitive landscape of the market and identify the key growth strategies adopted by the leading players across key regions

Available Customizations

MarketsandMarkets offers the following customizations for this market report:

  • Product matrix, which gives a detailed comparison of the product portfolio of each company
Report Code
EP 3998
Published ON
Jan, 2022
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