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Heavy Duty Gas Turbine Market Share

Report ID: GMI9375
Published Date: Oct 2024
Report Format: PDF

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Heavy Duty Gas Turbine Market Share

Heavy Duty Gas Turbine Market Company Market Share Analysis, 2023

The key players in the heavy-duty gas turbine market are actively pursuing strategic initiatives to maintain a competitive edge and drive growth. These companies are investing in advanced R&D to enhance turbine efficiency, reduce emissions, and extend the operational lifespan of their products. Many are forming strategic partnerships and alliances to expand their technological capabilities, particularly in digitalization and predictive maintenance, which optimize performance and reduce downtime. Additionally, they are increasingly focusing on producing gas turbines compatible with renewable fuels like hydrogen to align with global decarbonization goals.

Heavy Duty Gas Turbine Market Companies

Major players operating in the heavy duty gas turbine industry are:

Ansaldo Energia
Baker Hughes
Bharat Heavy Electricals
Capstone Green Energy
Doosan
Flex Energy Solutions
General Electric
Harbin Electric
Kawasaki Heavy Industries
MAN Energy Solutions
Mitsubishi Heavy Industries
Nanjing Turbine and Electric Machinery
Opra Turbines
Rolls Royce
Siemens
Solar Turbines
UEC-Saturn
Vericor
Wartsila
Zorya-Mashproekt

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The global heavy-duty gas turbine industry was valued at USD 10.8 billion in 2023 and is estimated to grow at a 5.6% CAGR from 2024 to 2032, driven by increasing awareness of environmental issues and a shift towards cleaner energy sources.

The > 70 MW to 200 MW gas turbine market is expected to exceed USD 3 billion by 2032, fueled by their extensive use in large-scale industrial applications and the transition to natural gas as a cleaner alternative to coal.

The U.S. heavy-duty gas turbine industry is set to reach over USD 1.2 billion by 2032, driven by the growing incorporation of renewable energy sources into the grid, which increases the demand for flexible and responsive backup power solutions.

Key players in the sector include Ansaldo Energia, Baker Hughes, Bharat Heavy Electricals, Capstone Green Energy, Doosan, Flex Energy Solutions, General Electric, Harbin Electric, and Kawasaki Heavy Industries.