Aeroderivative Gas Turbine Market to hit .5 billion By 2025: Global Market Insights, Inc.
< 50 kW segment of aeroderivative gas turbine market is set to exceed USD 50 million by 2025 owing to rapid advancement of co-generating technologies to endure heat and energy consumption across isolated, industrial and small commercial grid networks.
Sellbyville, Delaware, Feb. 05, 2019 (GLOBE NEWSWIRE) —
North America aeroderivative gas turbine market is poised to grow on account of rise in focus towards combined cycle gas turbine (CCGT) power plant capacity addition. The rise in capacity is adhered to the development in drilling and extraction processes taking place across the region making gas-fired technology cheap & reliable source of power.
Global Aeroderivative Gas Turbine Market is expected to surpass USD 2.5 Billion by 2025, as reported in the latest study by Global Market Insights, Inc. Aeroderivative gas turbine market, in the recent years has significantly been influenced due to growing energy demand from large-scale industrial units and associated manufacturing establishments. Demand & supply balance has constantly been a primary concern for private entities & various utilities which has further raised extensive fund flow toward the enhancement of renewable power generation units. Therefore, positive regulatory prospects aligned with increasing demand for effective & sustainable generating units will reinforce the industry outlook.
Increasing investments toward the replacement & refurbishment of existing generating systems with advance gas-fired generating power plants to curb carbon emissions will boost the global market. Moreover, the occurrence of shale gas solutions has led to a significant upsurge in exploration & production activities across onshore and offshore basins which in turn will complement the overall business scenario.
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< 50 kW units across the aeroderivative gas turbine market will exceed USD 50 million by 2025. Ongoing enhancements of co-generating systems to withstand energy & heat consumption across industrial, isolated and small commercial infrastructure will drive the product penetration. Moreover, rapid expansion in conjunction with the development of efficient re-generative units to endure low heat tendencies across various deployments will further thrust the technological adoption.
Browse key industry insights spread across 510 pages with 804 market data tables & 37 figures & charts from the report, “Global Aeroderivative Gas Turbine Market” in detail along with the table of contents:
Open Cycle units across the aeroderivative gas turbine market will witness upsurge on account of its specifications including compact size, lower warm up time, light weight, limited dependency on auxiliary technologies, quick start and operational flexibility. With regards to land-based industries, open cycle turbine units find extensive installation across mechanical drive and direct applications. Moreover, deployment across airplanes where curbing product weight is pivotal in line with extension of generation technologies across offshore establishments pose significant potential for these products.
Turbines are primarily utilized to power airplane engines in accordance with sustaining an efficient ratio between weight and power to bear a flight. In the current scenario, the aviation industry witnessed upsurge with numerous tourists and migrants mobilizing on a global scale. Furthermore, airplanes utilized for military applications have observed strong demand maintaining the national security and safety which in turn will foster the overall market share.
Prominent market players include Siemens, GE, Mitsubishi Hitachi, Kawasaki, Opra Turbines, Wärtsilä, Solar Turbines, BHEL, Harbin, MAN Diesel, Vericor, Cryostar, Capstone, Zorya-Mashproekt and NPO Saturn.
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Global Gas Turbine Market exceeded USD 8 billion in 2017 with annual installations to surpass 34 GW by 2024 as rising investment towards the replacement of conventional electricity generating technologies will fuel the industry growth.
Industrial Gas Turbine (GT) Market size in 2017 was valued over USD 5 billion and is projected to exceed an annual installation of 20 ’000 MW by 2024 owing to increasing environment concerns along with strict regulatory mandates to curb GHG emissions.
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