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Aeroderivative Gas Turbine Market Size

Report ID: GMI9789
Published Date: Oct 2024
Report Format: PDF

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Aeroderivative Gas Turbine Market Size

The global aeroderivative gas turbine market was valued at USD 3.2 billion in 2023 and is estimated to grow at a CAGR of 6.3% from 2024 to 2032. The shift toward integrating renewable energy resources along with a strong focus on energy efficiency standards will drive the adoption of these turbine units. Increasing global energy demand combined with substantial investments in natural gas extraction and trade will create a favorable environment for industry.

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Aeroderivative gas turbines are lightweight, high-performance turbines originally derived from aircraft jet engines and adapted for stationary applications comprising of power generation, mechanical drive, and marine propulsion. They are known for their quick start-up times, fuel flexibility, and high efficiency, these turbines are widely used in both grid-connected and standalone power systems. The ongoing re-structuring across the key power markets coupled with rapid technological enhancements including the field of combustion, aerodynamics, cooling and materials will shape the product landscape.

Aeroderivative Gas Turbine Market Report Attributes
Report Attribute	Details
Base Year:	2023
Aeroderivative Gas Turbine Market Size in 2023:	USD 3.2 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	6.3%
2032 Value Projection:	USD 5.6 Billion
Historical Data for:	2021 to 2023
No. of Pages:	135
Tables, Charts & Figures:	40
Segments covered:	Capacity, Technology, Application and Region
Growth Drivers:	Inclination toward energy optimization Ongoing shale gas revolution Positive clean energy outlook Growing focus toward decentralized generation technologies
Pitfalls & Challenges:	Advancing auxiliary clean turbine technologies

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Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The global market for aeroderivative gas turbine was reached USD 3.2 billion in 2023 and is estimated to grow at a 6.3% CAGR from 2024 to 2032, driven by the integration of renewable energy resources and a focus on energy efficiency standards.

The combined cycle aeroderivative gas turbine market size is expected to exceed USD 4.5 billion by 2032, supported by the development of co-generating systems to sustain heat and energy consumption.

The power plant aeroderivative gas turbine market is projected to grow at approximately 6% CAGR from 2024 to 2032, driven by rapid industrialization and stringent energy efficiency mandates.

The U.S. aeroderivative gas turbine market is set to reach over USD 400 million by 2032, fueled by the increasing demand for flexible and efficient power generation solutions and the transition towards clean fuel sources.

Key players in the aeroderivative gas turbine industry include Ansaldo Energia, Baker Hughes, Capstone Green Energy, Collins Aerospace, Destinus Energy, Doosan Enerbility, General Electric, Harbin Electric, Honeywell International, IHI, Kawasaki Heavy Industries, MAN Energy Solutions, Mitsubishi Heavy Industries, Nanjing Turbine & Electric Machinery, Pratt & Whitney, Rolls-Royce, Safran, Siemens Energy, Vericor, and Wartsila.