Asia Pacific Gas Turbine Market Analysis

Asia Pacific Gas Turbine Market Analysis

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The aero derivative gas turbine market will exceed over USD 2 billion by 2032. The product provides significant benefits comprising of reduced weight, environmental friendliness, higher rotational speed, operational versatility, and low water consumption, thereby boosting industry potential. Moreover, the rapid growth of co-generating units to support energy and heat needs in small commercial, industrial, and isolated grid networks will positively sway the business potential.
 

The > 70 MW to 200 MW gas turbine market size will witness about 5% CAGR through 2032. Wide applicability in direct and mechanical drive applications owing to its operational versatility, rapid startup, and reduced reliance on cooling water will boost the industry dynamics. Additionally, the expansion of energy generation applications to the offshore platforms and the growing use in aircraft will enhance the business landscape. Stringent government regulations to limit emissions coupled with the stabilization of gas prices, will drive increased adoption of technology.
 

The China gas turbine market is set to surpass USD 3.5 billion by 2032. The continuous growth of manufacturing and processing facilities will drive the expansion of self-regulated power generating plants. Additionally, government efforts to integrate a sustainable energy mix will positively impact the industry landscape. Stringent emission regulations will increase the emphasis on clean power generation leading to the replacement of inefficient coal-fired power plants with more efficient gas-fired plants, thus accelerating the business growth.
 

Strong focus on reducing greenhouse gas emissions along with transition toward cleaner energy sources will fuel the Japan gas turbine market. The rising demand for energy, combined with a growing emphasis on renewable energy generation, will boost the prospects for the industry. The surge in industrialization coupled with investments in modernizing infrastructure through gas-fired distributed energy will enhance gas power generation which in turn will strengthen the industry outlook.