Asia Pacific Aeroderivative Gas Turbine Market Analysis

Asia Pacific Aeroderivative Gas Turbine Market Analysis

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Based on technology, the Asia Pacific aeroderivative gas turbine market is segmented as open cycle and combined cycle. The open cycle gas turbine market size will witness growth rate of 6.1% by 2032. The demand for the product is set to rise owing to expanding implementation of combined heat and power plants, as well as the increasing need for heat. Additionally, the rapid expansion of the aviation and maritime sectors, combined with growth in energy investments, will contribute to a more positive industry outlook. The industry presents a stable and consistent growth potential, driven by its environmentally advantageous position and the favorable alignment of consumer and regulatory trends, stimulating the business potential.
 

Based on capacity, the Asia Pacific aeroderivative gas turbine market is segmented as ≤ 50 kW, > 50 to 500 kW, > 500 kW to 1 MW, > 1 to 30 MW, > 30 to 70 MW and > 70 MW. The > 1 to 30 MW aeroderivative gas turbine industry holds a market share of over 20% in 2022. The manufacturers have directed their attention toward developing gas turbines that are not only cost-effective but also highly efficient. This approach aims to empower installers to achieve substantial returns on investment and accrue significant long-term savings. Consequently, the advantageous proximity to both consumers and industries, coupled with supportive regulatory reforms, will enhance the business outlook.  
 

Based on application, the Asia Pacific aeroderivative gas turbine market is segmented as power plants, oil & gas, process plants, aviation, marine and others. Oil & gas application industry is projected to surpass USD 170 million by 2032. Ongoing efforts to achieve efficiency and maintain a consistent weight in aircraft will drive the product deployment. The industry has experienced significant growth due to increased migration, tourism, and improved living standards primarily across the developing nations.
 

The China gas turbine market was valued at USD 371.9 million in 2022. The market for gas turbines is poised to experience expansion due to the operational versatility provided by gas-fired facilities, contrasting with coal-fired plants. The surging inclination toward enhancing infrastructure through investments in distributed energy based on gas-fired technology will contribute to the growth of the gas power generation sector. which, in turn, will propel the demand for gas turbines.