The aeroderivative gas turbine industry will experience notable growth owing to the robust expansion and development manufacturing practices in line with of increasing focus toward sustainable energy development. Favorable policies implemented by the regulatory bodies including subsidies, tax rebates, and incentives along with increasing investments in regenerative gas turbine facilities will stimulate the product demand. Growing investments across the aviation industry coupled with the deployment of modern technologies in gas-fired turbines will foster product adoption.
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.
