Combustion Turbine Market Scope
Combustion turbine is also known as gas turbine, is a type of continuous and internal combustion engine. Combustion turbines are designed to meet peaks in power demand very rapidly. They operate much similar a jet engine, drawing in air at the front of the unit, compressing it, mixing it with fuel and igniting it. The combustion occurs instantly, allowing gases to then expand through turbine blades connected to a generator to produce electricity. Moreover, combustion turbine power plants are normally run on natural gas as a fuel. However, they may also be run on low-sulfur fuel oil if needed.
According to AMA, the Global Combustion Turbine market is expected to see growth rate of 4.0% Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Combustion Turbine market throughout the predicted period.
General Electric (United States), Sulzer Ltd. (Switzerland), Siemens Ltd (Germany), Mitsubishi Hitachi Power Systems Ltd. (Japan), MAN Diesel & Turbo (Germany), Kawasaki Heavy Industries (Japan), EthosEnergy (United States), MJB International Limited LLC (United Arab Emirates) and Ansaldo Energia (Italy) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Harbin Electric (China), OPRA Turbines (Netherlands), Solar Turbines (United States), Vericor Power (United States), BHEL (India) and Centrax (United Kingdom).
Segmentation Overview
The study have segmented the market of Global Combustion Turbine market by Type (Heavy-Duty Turbines, Industrial Turbines and Aeroderivative Turbines), by Application (Power Generation, Oil and Gas, Process Plants, Aviation and Others) and Region with country level break-up.
On the basis of geography, the market of Combustion Turbine has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (UAE, Rest of Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Growing Popularity of Combined Cycle Gas Turbines (CCGT)
Market Growth Drivers:
Increasing Demand for Natural Gas-Fired Power Plants, Rising Demand for Electricity Worldwide and The Increasing CO2 Emissions Concerns Globally
Challenges:
Shifting Focus towards Renewable Energy May Pose Major Challenge
Restraints:
Natural Gas Price Volatility May Hamper the Growth of the Market and Natural Gas Infrastructure Concerns
Opportunities:
Increased Trend of Distributed Power Generation and Replacement of Phased Out Nuclear & Coal Plants
Market Leaders and their Expansionary Development Strategies
On 6 Dec 2019, Mitsubishi Hitachi Power Systems, Ltd. (MHPS) completed a shipment of JAC (J-Series Air Cooled) gas turbines, the latest model in its mainstay J-Series of gas turbines. The shipment was made from MHPS' Takasago Works in Hyogo Prefecture, Japan, for a construction project to build two natural gas-fired power stations on the outskirts of Bangkok, Thailand, by a joint venture between Gulf Energy Development Public Company Limited, one of Thailand's largest independent power producers (IPP), and Mitsui & Co., Ltd. and On 16 Nov 2019, OPRA Turbines has announced to Deliver OP16 Gas Turbine For Low Emissions And Energy Efficient Offshore Platform.
On 2 Oct 2019, GE, a leading combustion turbine player has Launched Latest Evolution of Its HA Gas Turbine to Power Florida Power & Light Company’s Dania Beach Facility., On 2 July 2019, Sulzer has acquired Alba Power, a leading independent service provider for aeroderivative gas turbines in Aberdeen, United Kingdom. and On 8 Jan 2018, Harbin Electric Corporation (HE) has awarded GE Power (NYSE: GE) an order for two 9F.05 gas turbines for the State Power Investment Corporation’s (SPIC) Langfang gas combined-cycle power plant project (“Langfang”). As GE Power’s business partner in the region, HE will provide the steam turbines, generators and other auxiliary systems for the project. Upon completion, Langfang will generate approximately 800 megawatts (MW) of power using the latest cogeneration (CHP) technology.
Key Target Audience
Combustion Turbine Manufacturers, Combustion Turbine Sub-Component Manufacturers, Combustion Turbine Traders/Distributors, Regulatory & Government Bodies, Technology Investors, Industry Associations, Research Institutes, End Users and Others
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.