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Asia Pacific Gas Turbine Market Trends

Report ID: GMI11143
Published Date: Aug 2024
Report Format: PDF

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Asia Pacific Gas Turbine Market Trends

Rising electricity demand along with growing demand for cleaner energy solutions will positively impact the gas turbine market. The growing share of renewable energy sources, combined with rigorous energy efficiency agreements will drive the product adoption. Additionally, the rising demand for electricity and substantial investments in natural gas extraction and trade will enhance the business outlook.

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The Asia Pacific market for gas turbine was worth USD 5.5 billion in 2023 and is expected to grow at a 5.7% CAGR from 2024 to 2032, driven by the growing environmental concerns and strict government regulations on GHG emissions.

The aero derivative gas turbine market segment is projected to exceed USD 2 billion by 2032, fuelled by its benefits and the rising need for co-generating units.

China gas turbine market is projected to exceed USD 3.5 billion by 2032, stimulated by the ongoing expansion of manufacturing and processing facilities spurring the growth of self-regulated power generating plants.

Ansaldo Energia, Bharat Heavy Electricals Limited (BHEL), Capstone Green Energy Corporation, Doosan, and Flex Energy Solutions, among others.