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