Home > Energy & Power > Electrical Equipment > Turbines > Middle East & Africa Gas Turbine Market
Middle East & Africa Gas Turbine Market was valued at USD 3.50 billion in 2023 and is estimated to grow at a CAGR of over 6% from 2024 to 2032. The escalating global demand for electricity, spurred by population expansion, urban development and industrial growth will drive the demand for effective power generation solutions.
A gas turbine, commonly called combustion turbine, is a form of internal combustion engine extensively utilized for power generation, propulsion, and mechanical drive purposes. It functions by transforming energy from fuel into mechanical energy via the combustion process. The rising awareness of environmental issues coupled with growing consumer interest in shifting toward cleaner energy sources will favor the business scenario.
Report Attribute | Details |
---|---|
Base Year: | 2023 |
Middle East & Africa Gas Turbine Market Size in 2023: | USD 3.50 Billion |
Forecast Period: | 2024 - 2032 |
Forecast Period 2024 - 2032 CAGR: | 6% |
2032 Value Projection: | USD 5.96 Billion |
Historical Data for: | 2019 - 2023 |
No. of Pages: | 250 |
Tables, Charts & Figures: | 540 |
Segments covered: | Capacity, Product, Technology, Application & Country |
Growth Drivers: |
|
Pitfalls & Challenges: |
|
Increasing environmental concerns and stringent government regulations aimed at reducing greenhouse emissions have compelled industries to implement strong energy conservation measures, thus enhancing the sector's prospects. The large scale integration of renewable energy sources coupled with increasing inclination toward improving energy efficiency will augment the business landscape.
The > 30 MW to 70 MW capacity gas turbine market is set to reach USD 500 million by 2032. The adoption of digital technologies and Internet of Things (IoT) in gas turbine operations will in turn create significant opportunities for business expansion. The technology offers key advantages including predictive maintenance, remote monitoring and reduced downtime, accelerating the industry potential.
The heavy duty gas turbine gas turbine market size will witness growth rate of over 5.5% through 2032. The extreme climate conditions including high temperatures and humidity, pose challenges for conventional power generation equipment, stimulating the industry growth. Surging focus toward integrating renewable energy sources comprising of wind and solar into power grids will energize the business dynamics. Additionally, the ongoing expansion of power generation applications to offshore platforms along with growing utilization of these units in aircraft will fuel the product deployment.
The Saudi Arabia gas turbine market revenue to cross USD 600 million by 2032. The increasing infrastructural investments along with flourishing manufacturing sector will drive the business growth. Paradigm shift toward cleaner sources of energy to reduce its carbon footprint and reliance on oil will further drive the product penetration. These turbines offer relatively lower emissions compared to some other fossil fuel-based power generation technologies, making them a preferred option across wide tandem of areas.
General Electric is one of the renowned multinational conglomerates with a significant presence in various industries, including aviation, healthcare, power, and renewable energy. The company offers a diverse range of gas turbines catering to different applications and power needs. These turbines vary in size, power output, efficiency, and adaptability to different fuel types. Its product line includes aeroderivative and heavy-duty turbines.
Eminent players operating in the Middle East & Africa gas turbine industry include:
Click here to Buy Section of this Report
Market, By Capacity
Market, By Product
Market, By Technology
Market, By Application
The above information has been provided for the following countries: