Asia Pacific Gas Turbine Market
Segments - 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 2021 – 2028
The Asia-Pacific gas turbine market size is projected to expand at a substantial CAGR during the forecast period, 2021–2028. 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.
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 the 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 |
2020 |
|
Historic Data |
2018–2019 |
|
Forecast Period |
2021–2028 |
|
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 |
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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.
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.
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 (000’ 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
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 (000’ 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
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