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, the to reduce carbon foot prints is expected to create a significant demand for gas turbine in the coming years, which is further anticipated to drive the South America gas turbine market.
Market Overview and Dynamics
The gas turbine market in South America is expected to grow from US$ 1866.94 million in 2018 to US$ 2326.34 million by 2027; it is estimated to grow at a CAGR of 2.5% from 2019 to 2027. A gas turbine refers to a combustion engine that is eco-friendly as it not only runs on natural gas and it produces less exhaust gas pollution as compared to the internal combustion engines. The gas-fired turbines are faster, more efficient, and less polluting than coal-fired and nuclear power plants. Gas turbines make use of natural gas, light gas, and bioethanol for its working. An increase demand for natural gas fired power plants, rising concerns regarding emissions released by GHG and stringent government norms for the adoption of gas-fired turbines have stimulated the demand for gas turbines. This is bolstering the growth of the South America gas turbine market.
The COVID-19 outbreak has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The Brazil is the worst hit country in South America due to the outbreak of Covid-19 followed by Ecuador, Chile, Peru, and Argentina, among others. For instance, it is anticipated that South America will face lower export revenues, both from the drop in commodity prices and reduction in export volumes, especially to China, Europe, and the United States, which are important trade partners. The containment measure taken by governments across South America will ultimately affect anticipated the economic stability, revenue generation and growth opportunities in this region for coming months.
Key Market Segments
In terms of technology, the combined cycle segment accounted for the largest share of the South America gas turbine market in 2018. In terms of capacity, the 120-300 MW segment held a larger market share of the South America gas turbine market in 2018. Further, the power generation segment 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 market in South America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are General Electric Company, Siemens Ag, Mitsubishi Hitachi power systems Ltd, and BHEL among others.
Reasons to buy report
SOUTH AMERICA GAS TURBINE MARKET SEGMENTATION
South America Gas Turbine Market – By Technology
South America Gas Turbine Market – By Capacity
South America Gas Turbine Market – By Application
South America Gas Turbine Market – By Country
Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2018 | US$ 1866.94 Million |
| Market Size by 2027 | US$ 2326.34 Million |
| CAGR (2019 - 2027) | 2.5% |
| Historical Data | 2016-2017 |
| Forecast period | 2019-2027 |
| Segments Covered |
By Technology
|
| Regions and Countries Covered |
South and Central America
|
| Market leaders and key company profiles |
|
The South America Gas Turbine Market is valued at US$ 1866.94 Million in 2018, it is projected to reach US$ 2326.34 Million by 2027.
As per our report South America Gas Turbine Market, the market size is valued at US$ 1866.94 Million in 2018, projecting it to reach US$ 2326.34 Million by 2027. This translates to a CAGR of approximately 2.5% during the forecast period.
The South America 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 South America Gas Turbine Market report:
The South America Gas Turbine Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South America Gas Turbine Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South America Gas Turbine Market value chain can benefit from the information contained in a comprehensive market report.
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