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Middle East & Africa Gas Turbine Market Size

Report ID: GMI8708
Published Date: Mar 2024
Report Format: PDF

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Middle East & Africa Gas Turbine Market Size

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.

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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.

Middle East & Africa Gas Turbine Market Report Attributes
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:	Restructuring of electrical infrastructure Large scale renewable integration prospects Positive outlook toward gas-based electricity generation Reducing dependency over conventional coal-fired power plants
Pitfalls & Challenges:	Cost competitiveness

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Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market size of Middle East & Africa gas turbine was reached USD 3.50 billion in 2023 and is estimated to grow at a rate of 6% through 2032, driven by the escalating global demand for electricity, spurred by population expansion.

Middle East & Africa heavy-duty gas turbine industry size will witness growth rate of over 5.5% through 2032, attributed to the extreme climate conditions including high temperatures and humidity.

Saudi Arabia gas turbine market is anticipated to reach over USD 600 million by 2032, due to the increasing infrastructural investments along with flourishing manufacturing sector.

Ansaldo Energia, Baker Hughes Company, Bechtel Corporation, Bharat Heavy Electricals Limited (BHEL), Capstone Green Energy Corporation, Consolidated Turbine Services, Doosan, Flex Energy Solutions, Flour Corporation, General Electric, John Wood Group PLC., Kawasaki Heavy Industries, Ltd. and MAN Energy Solutions.