Market Introduction
Gas Turbine is an internal combustion engine comprising combustion chambers that releases expanding gases, which further drive the blades of a turbine. The gas turbine converts natural gas and other liquids into mechanical energy. This energy then fuels generators to produce electrical energy. The various advantages associated with gas turbines are high power to weight ratio and low operations pressure. Despite being small in size, the gas turbines possess a high power rating. They reduce carbon emissions and release fewer emissions into the air as compared to other engines. Thus, to lower carbon emission by harnessing natural gas instead of coal and nuclear is expected to create a significant demand for gas turbine in the coming years, which is further anticipated to drive the gas turbine market.
Market Overview and Dynamics
The gas turbine in APAC is expected to grow from US$ 4,031.3 Mn in 2019 to US$ 6.154.5 Mn by 2027; it is estimated to grow at a CAGR of 4.9% from 2020 to 2027. The organizations of people and resources are drifting away from the centralized system towards integrated networks that include both distributed and centralized elements. Electric power systems are riding the wave of decentralization through the deployment and use of distributed power technologies. Distributed power systems are being used and will continue to be used in the future to provide electrical and mechanical power to the nearest point of use. In the year 2012, $150 billion was distributed in distributed power technologies. This is bolstering the growth of the gas turbine market.
Key Market Segments
In terms of technology, the combined cycle segment accounted for the largest share of the APAC Gas turbine market in 2018. In terms of capacity, the 120-300 MW segment held a larger market share of the gas turbine in 2018. Further, the power generation held a larger share of the market based on application in 2018.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the gas turbine in APAC are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Ansaldo Energia S.p.A., General Electric Company, Harbin Electric Company Limited, Kawasaki Heavy Industries, Ltd., Man Energy Solutions, Mitsubishi Hitachi Power Systems, Ltd., Siemens AG, Solar Turbines Incorporated among others.
Reasons to buy report
APAC GAS TURBINE MARKET SEGMENTATION
By Country
Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 4,031.3 Million |
| Market Size by 2027 | US$ 6.154.5 Million |
| CAGR (2020 - 2027) | 4.9% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Technology
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
The Asia Pacfic Gas Turbine Market is valued at US$ 4,031.3 Million in 2019, it is projected to reach US$ 6.154.5 Million by 2027.
As per our report Asia Pacfic Gas Turbine Market, the market size is valued at US$ 4,031.3 Million in 2019, projecting it to reach US$ 6.154.5 Million by 2027. This translates to a CAGR of approximately 4.9% during the forecast period.
The Asia Pacfic Gas Turbine Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacfic Gas Turbine Market report:
The Asia Pacfic Gas Turbine Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacfic Gas Turbine Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacfic Gas Turbine Market value chain can benefit from the information contained in a comprehensive market report.
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