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Asia Pacific Gas Turbine Market Size
- Report ID: GMI11143
- Published Date: Aug 2024
- Report Format: PDF
Asia Pacific Gas Turbine Market Size
Asia Pacific Gas Turbine Market was valued at USD 5.5 billion in 2023 and is set to grow at a CAGR of 5.7% from 2024 to 2032. Growing environmental concerns and strict government regulations on GHG emissions have driven the industry towards adopting effective energy conservation measures, enhancing the industry potential. For instance, in first quarter of 2024, gas-based power plants have an installed capacity of 24.8 GW and contribute approximately 2 to 3 % of India's overall power generation.
A gas turbine is a type of internal combustion engine that converts the energy of burning fuel into mechanical energy through a series of stages involving compression, combustion and expansion. Air is drawn into the turbine and compressed to high pressure by a series of compressor blades. The compressed air then mixes with fuel and is ignited in the combustion chamber, creating high-temperature and high-pressure gas. This gas flows through the turbine blades, causing them to spin and generate mechanical power. The rotating turbine drives a shaft connected to a generator or other machinery, producing electricity or mechanical work.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Asia Pacific Gas Turbine Market Size in 2023: | USD 5.5 Billion |
| Forecast Period: | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR: | 5.7% |
| 2032 Value Projection: | USD 9.1 Billion |
| Historical Data for: | 2021 - 2023 |
| No. of Pages: | 125 |
| Tables, Charts & Figures: | 8 |
| Segments covered: | Capacity, Product, Technology, Application & Country |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Asia Pacific Gas Turbine Market Scope
