Asia Pacific Gas Turbine Market Growth, Industry | 2031

Segments - Asia Pacific Gas Turbine Market by Types (Open Cycle, and Combined Cycle), Applications (Power, Oil and Gas, and Other), Capacities (Less than 30 MW, 31-120 MW, above 120 MW), and Region - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

Author : Raksha Sharma

Fact-checked by : Vineet Pandey

Editor : Swapnil Hedau

Report Description

The Asia-Pacific gas turbine market size was USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of 3.5% during 2023–2031. The growth of the market is attributed to the increase demand for power generating due rising consumption in the region.

A gas turbine, often known as an internal combustion engine, is the heart of a power plant that converts liquefied or natural gas into mechanical energy to generate electricity. Ships, aircrafts, trains, generators, gas compressors, pumps, and other industrial gas turbines are all powered by industrial gas turbines.

Since the power generation sector has such a large social and economic impact, manufacturers are under pressure to improve power plant efficiency using cost-effective solutions that have a low environmental impact. As a result, the industrial gas turbine market is expected to increase at a healthy rate over the forecast period.

Air and sea travel have become significantly more intense as a result of globalization and the opening of Asian economies, particularly in China as a result, sea and air transportation now account for about 2% and 3% of total greenhouse gas (GHG) emissions3, respectively. Furthermore, the Sulphur and particulate matter produced by ship fuel oil is higher than that produced by road fuels.

For the good clean energy future, China is now investing in the development of new massive gas-fired combined cycle power generation, which is likely to boost demand for gas turbines.

However due to national security concerns, China can only produce heavy-duty gas turbines based on Ukrainian technology. Western countries, such as the United States and France, do not allow their manufacturers to export such items to China.

China's Aviation Industry Corporation has chosen the R0110 heavy-duty gas turbine from Ukraine, which has a heating capacity of 110 megawatts. This type of gas turbine, on the other hand, can only be used to generate electricity and cannot be used in ships.

Bharat Heavy Electricals Limited (BHEL) of India secured a deal in November 2021 for the local fabrication of components for "Zorya" - "Mashproekt" marine gas turbine engines in India.

Hindustan Aeronautics Limited (HAL) will construct four Limited Series Production (LSP) indigenous Light Utility Helicopters (LUHs) by 2022-23 and eight LSP LUHs by 2023-24 using gas turbine engine technologies.

Asia Pacific Gas Turbine Market Trends, Drivers, Restraints, and Opportunities

Increasing demand for electricity is projected to drive the market during the forecast period.
Rising industrialization and electrification of transportation is anticipated to boost the market in the coming years.
Infrastructure development projects such as providing clean air, reducing greenhouse gas emissions, providing safe water systems, and promoting renewable energy plants is expected to boost the market.
Growing local manufacturing capabilities is expected to push the market growth.
Development of gas-fired power plants is projected to fuel the market.
Increasing need for uninterrupted power supply is expected to spur the market expansion during the forecast period
Rapid growth in aviation and maritime industries is key factors boosting driving the market in the coming years.
Majority of the world's natural gas production and supply is concentrated in a few countries, resulting in price differences. act as major challenges that can hamper the market growth.
Research and development (R&D) initiatives to build turbines that can run on a variety of fuels, function at high temperatures, and have no turbine failures. is expected to create immense opportunities for the market players.

Scope of Asia Pacific Gas Turbine Market Report

The report on the Asia-Pacific gas turbine market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	Asia-Pacific Gas Turbine Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2022
Historic Data	2016–2021
Forecast Period	2023–2031
Segmentation	Types (Open Cycle, and Combined Cycle), Applications (Power, Oil and Gas, and Other), Capacities (Less than 30 MW, 31-120 MW, and above 120 MW)
Region	Asia Pacific
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report	Siemens AG; Kawasaki Heavy Industries Ltd; Ansaldo Energia SpA; General Electric Company; Mitsubishi Heavy Industries Ltd

Asia-Pacific Gas Turbine Market Segment Insights

The combined cycle segment is projected to represent a large market share

Based on types industries, the Asia Pacific gas turbine market is divided into open cycle, and combined cycle. The combined cycle segment is expected to account for a key share of the market during the forecast period owing to it is cost effective and better efficiency also it has a lower carbon dioxide emission.

The power turbine segment is expected to expand at a significant pace

In terms of applications, the Asia Pacific gas turbine market is segmented into power, oil and gas, and other. The power segment is expected to represent a key share of the market in the coming years due to increasing urbanization and industrialization in the region.

Asia Pacific Gas Turbine Market Application

The above 120 MW segment is anticipated to register at a rapid CAGR

Based on capacities, the Asia Pacific gas turbine market is divided into less than 30 MW, 31-120 MW, and above 120 MW. The above 120 MW segment is expected to hold a key share of the market during the forecast period owing to these capacity gas turbines are majorly in demand by power generation industry.

Segments

The Asia Pacific gas turbine market has been segmented on the basis of

Types

Open Cycle
Combined Cycle

Applications

Power
Oil
Gas
Other

Capacities

Less than 30 MW
31-120 MW
above 120 MW

Region

Asia Pacific

Key Players

Siemens AG
Kawasaki Heavy Industries Ltd
Ansaldo Energia SpA
General Electric Company
Mitsubishi Heavy Industries Ltd

Competitive Landscape

Key players competing in the Asia Pacific gas turbine market include Siemens AG; Kawasaki Heavy Industries Ltd; Ansaldo Energia SpA; General Electric Company; Mitsubishi Heavy Industries Ltd.

Some of these players are coming with several market including mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.

Asia Pacific Gas Turbine Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Gas Turbine Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Gas Turbine Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Gas Turbine Market - Supply Chain
  4.5. Global Gas Turbine Market Forecast
     4.5.1. Gas Turbine Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Gas Turbine Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Gas Turbine Market Absolute $ Opportunity
5. Global Gas Turbine Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Gas Turbine Market Size and Volume Forecast by Types
     5.3.1. Open Cycle
     5.3.2. Combined Cycle
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Gas Turbine Market Analysis and Forecast by Applications
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Applications
     6.2.2. Y-o-Y Growth Projections by Applications
  6.3. Gas Turbine Market Size and Volume Forecast by Applications
     6.3.1. Power
     6.3.2. Oil
     6.3.3. Gas
     6.3.4. Other
  6.4. Absolute $ Opportunity Assessment by Applications
  6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Gas Turbine Market Analysis and Forecast by Region
  7.1. Market Trends
  7.2. Introduction
     7.2.1. Basis Point Share (BPS) Analysis by Region
     7.2.2. Y-o-Y Growth Projections by Region
  7.3. Gas Turbine Market Size and Volume Forecast by Region
     7.3.1. North America
     7.3.2. Latin America
     7.3.3. Europe
     7.3.4. Asia Pacific
     7.3.5. Middle East and Africa (MEA)
  7.4. Absolute $ Opportunity Assessment by Region
  7.5. Market Attractiveness/Growth Potential Analysis by Region
  7.6. Global Gas Turbine Demand Share Forecast, 2019-2026
8. North America Gas Turbine Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
  8.2. North America Gas Turbine Market Size and Volume Forecast by Country
     8.2.1. U.S.
     8.2.2. Canada
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. North America Gas Turbine Market Size and Volume Forecast by Types
     8.4.1. Open Cycle
     8.4.2. Combined Cycle
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. North America Gas Turbine Market Size and Volume Forecast by Applications
     8.7.1. Power
     8.7.2. Oil
     8.7.3. Gas
     8.7.4. Other
  8.8. Basis Point Share (BPS) Analysis by Applications
  8.9. Y-o-Y Growth Projections by Applications
  8.10. Market Attractiveness/Growth Potential Analysis
     8.10.1. By Country
     8.10.2. By Product Type
     8.10.3. By Application
  8.11. North America Gas Turbine Demand Share Forecast, 2019-2026
9. Latin America Gas Turbine Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Latin America Average Pricing Analysis
  9.2. Latin America Gas Turbine Market Size and Volume Forecast by Country
      9.2.1. Brazil
      9.2.2. Mexico
      9.2.3. Rest of Latin America
   9.3. Absolute $ Opportunity Assessment by Country
  9.4. Latin America Gas Turbine Market Size and Volume Forecast by Types
     9.4.1. Open Cycle
     9.4.2. Combined Cycle
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Latin America Gas Turbine Market Size and Volume Forecast by Applications
     9.7.1. Power
     9.7.2. Oil
     9.7.3. Gas
     9.7.4. Other
  9.8. Basis Point Share (BPS) Analysis by Applications
  9.9. Y-o-Y Growth Projections by Applications
  9.10. Market Attractiveness/Growth Potential Analysis
     9.10.1. By Country
     9.10.2. By Product Type
     9.10.3. By Application
  9.11. Latin America Gas Turbine Demand Share Forecast, 2019-2026
10. Europe Gas Turbine Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Europe Average Pricing Analysis
  10.2. Europe Gas Turbine Market Size and Volume Forecast by Country
     10.2.1. Germany
     10.2.2. France
     10.2.3. Italy
     10.2.4. U.K.
     10.2.5. Spain
     10.2.6. Russia
     10.2.7. Rest of Europe
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Europe Gas Turbine Market Size and Volume Forecast by Types
     10.4.1. Open Cycle
     10.4.2. Combined Cycle
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Europe Gas Turbine Market Size and Volume Forecast by Applications
     10.7.1. Power
     10.7.2. Oil
     10.7.3. Gas
     10.7.4. Other
  10.8. Basis Point Share (BPS) Analysis by Applications
  10.9. Y-o-Y Growth Projections by Applications
  10.10. Market Attractiveness/Growth Potential Analysis
     10.10.1. By Country
     10.10.2. By Product Type
     10.10.3. By Application
  10.11. Europe Gas Turbine Demand Share Forecast, 2019-2026
11. Asia Pacific Gas Turbine Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Asia Pacific Average Pricing Analysis
  11.2. Asia Pacific Gas Turbine Market Size and Volume Forecast by Country
     11.2.1. China
     11.2.2. Japan
     11.2.3. South Korea
     11.2.4. India
     11.2.5. Australia
     11.2.6. Rest of Asia Pacific (APAC)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Asia Pacific Gas Turbine Market Size and Volume Forecast by Types
     11.4.1. Open Cycle
     11.4.2. Combined Cycle
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Asia Pacific Gas Turbine Market Size and Volume Forecast by Applications
     11.7.1. Power
     11.7.2. Oil
     11.7.3. Gas
     11.7.4. Other
  11.8. Basis Point Share (BPS) Analysis by Applications
  11.9. Y-o-Y Growth Projections by Applications
  11.10. Market Attractiveness/Growth Potential Analysis
     11.10.1. By Country
     11.10.2. By Product Type
     11.10.3. By Application
  11.11. Asia Pacific Gas Turbine Demand Share Forecast, 2019-2026
12. Middle East & Africa Gas Turbine Market Analysis and Forecast
  12.1. Introduction
     12.1.1. Basis Point Share (BPS) Analysis by Country
     12.1.2. Y-o-Y Growth Projections by Country
     12.1.3. Middle East & Africa Average Pricing Analysis
  12.2. Middle East & Africa Gas Turbine Market Size and Volume Forecast by Country
     12.2.1. Saudi Arabia
     12.2.2. South Africa
     12.2.3. UAE
     12.2.4. Rest of Middle East & Africa (MEA)
  12.3. Absolute $ Opportunity Assessment by Country
  12.4. Middle East & Africa Gas Turbine Market Size and Volume Forecast by Types
     12.4.1. Open Cycle
     12.4.2. Combined Cycle
  12.5. Basis Point Share (BPS) Analysis by Types
  12.6. Y-o-Y Growth Projections by Types
  12.7. Middle East & Africa Gas Turbine Market Size and Volume Forecast by Applications
     12.7.1. Power
     12.7.2. Oil
     12.7.3. Gas
     12.7.4. Other
  12.8. Basis Point Share (BPS) Analysis by Applications
  12.9. Y-o-Y Growth Projections by Applications
  12.10. Market Attractiveness/Growth Potential Analysis
     12.10.1. By Country
     12.10.2. By Product Type
     12.10.3. By Application
  12.11. Middle East & Africa Gas Turbine Demand Share Forecast, 2019-2026
13. Competition Landscape
  13.1. Global Gas Turbine Market: Market Share Analysis
  13.2. Gas Turbine Distributors and Customers
  13.3. Gas Turbine Market: Competitive Dashboard
  13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     13.4.1. Siemens AG
     13.4.2. Kawasaki Heavy Industries Ltd
     13.4.3. Ansaldo Energia SpA
     13.4.4. General Electric Company
     13.4.5. Mitsubishi Heavy Industries Ltd