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Combined Cycle Aeroderivative Gas Turbine Market Trends

Report ID: GMI10146
Published Date: Jul 2024
Report Format: PDF

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Combined Cycle Aeroderivative Gas Turbine Market Trends

The ongoing advancements in co-generation systems aimed at enhancing efficient energy and heat supply across sectors including process plants, oil & gas and power plants will invigorate the industry dynamics. Moreover, government initiatives and policies targeting carbon footprint reduction along with widespread availability of natural gas reserves will encourage the deployment of gas turbines. The rapid industrialization in key emerging economies in conjunction with increasing energy demand will propel the product penetration.

Authors: Ankit Gupta, Saurabh Singh

Frequently Asked Questions (FAQ) :

Combined cycle aeroderivative gas turbine market size was USD 3.5 billion in 2023 and will exhibit 6.1% CAGR from 2024 to 2032, attributed to the rising demand for efficient and flexible power generation, and the increasing emphasis on reducing greenhouse gas emissions.

The power plants segment will record 6% CAGR through 2032 due to the increasing demand for efficient and flexible power generation solutions.

Asia Pacific combined cycle aeroderivative gas turbine industry will exceed USD 2 billion by 2032, fueled by significant investments in energy infrastructure, rapid industrialization and urbanization coupled with favorable government policies promoting clean energy.

Major firms operating in combined cycle aeroderivative gas turbine industry are Baker Hughes Company, Bharat Heavy Electricals Limited (BHEL), Capstone Green Energy Corporation, General Electric, Kawasaki Heavy Industries, Ltd., MAN Energy Solutions, Mitsubishi Heavy Industries Ltd., Nanjing Steam Turbine Motor (Group) Co., Ltd., Pratt & Whitney, Rolls-Royce plc, and Siemens Energy, among others.