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Gas Turbine Market Size
- Report ID: GMI1181
- Published Date: Sep 2024
- Report Format: PDF
Gas Turbine Market Size
The global gas turbine market was valued at USD 13.7 billion in 2023 and is estimated to grow at a CAGR of 5.7% from 2024 to 2032. Positive inclination toward energy optimization coupled with surging focus on clean energy power generation technologies will stimulate the industry growth. Rising global energy demand along with large scale investments in the extraction and trade of natural gas have instituted a favorable business scenario.
A gas turbine is a combustion engine that convert natural gas or liquid fuels into the mechanical energy, which then drive generators to produce electricity. Continuous upgradation and retrofitting existing gas turbine facilities in association with rising need for efficient & scalable power generation solutions will proliferate the business scenario. Furthermore, growing expansion of power generation capacities to meet energy demand across emerging economies will sway the deployment of these turbines.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Gas Turbine Market Size in 2023: | USD 13.7 Billion |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 5.7% |
| 2032 Value Projection: | USD 23.1 Billion |
| Historical Data for: | 2021 to 2023 |
| No. of Pages: | 150 |
| Tables, Charts & Figures: | 45 |
| Segments covered: | Capacity, Technology, Product, Application and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Gas Turbine Market Scope
