North America Aeroderivative Gas Turbine Market
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North America Aeroderivative Gas Turbine Market was valued at USD 569.4 million in 2023 and is estimated to grow at a CAGR of over 6% between 2024 and 2032. The growing concerns toward environment, along with stringent governmental regulations targeting emissions reduction, have spurred industries to implement proactive measures for conserving energy.
An aeroderivative gas turbine is an engine designed to blend the efficiency and performance traits of jet engines with the flexibility and compactness needed for power generation and industrial uses. These turbines provide high power density, enabling them to generate considerable power within a relatively small footprint. Ongoing restructuring of significant power markets is being paralleled by rapid advancements in technology across areas comprising of combustion, aerodynamics, cooling and materials engineering, accelerating the industry potential.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| North America Aeroderivative Gas Turbine Market size in 2023: | USD 569.4 Million |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2023 - 2032 CAGR: | 6 |
| 2023 Value Projection: | USD 969 Million |
| Historical Data for: | 2019 to 2023 |
| No of Pages: | 125 |
| Tables, Charts & Figures: | 220 |
| Segments Covered: | Capacity, Technology, Application & Country |
| Growth Drivers: |
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| Pitfalls Challenges: |
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Increasing proportion of renewable energy sources coupled with surging emphasis on improving energy efficiency is poised to boost the product demand. The rising need for energy coupled with significant investments in natural gas extraction and trading, will augment the business landscape. Additionally, the enforcement of rigorous energy utilization policies has transformed regulatory structures and consumer inclinations, fostering the proliferation of combined cycle aeroderivative gas turbine plants.
The > 500 kW to 1 MW aeroderivative gas turbine market is set to reach over USD 125 million by 2032. Continued emphasis on developing efficient and affordable turbines, combined with the need to upgrade aging installations for long-term savings and increased returns, will drive the business outlook. Furthermore, growing need for distributed power generation solutions along with shifting focus toward grid reliability will positively impact the industry landscape.
The aviation aeroderivative gas turbine market size will witness growth rate of over 6% through 2032. Increasing inclination toward fuel efficiency and environmental sustainability along with rising demand for lightweight engines will foster the business growth. These units offer a favorable power-to-weight ratio compared to traditional engines, making them attractive for aircraft applications. Furthermore, shifting consumer focus toward interest hybrid-electric propulsion systems will drive the product penetration.
The U.S. aeroderivative gas turbine market is set to exceed USD 500 million by 2032. Increasing power capacity to keep up with the consistently rising demand will significantly influence the business outlook. This growth is attributed to significant investments in power generation facilities, alongside regulatory authorities increasingly favoring cleaner energy resources. The product offers key benefits including flexibility, compact size, and quick start-up capabilities, stimulating the industry potential.
General Electric offers a comprehensive portfolio of aeroderivative gas turbines designed to meet diverse power generation needs. These turbines typically range from a few megawatts to over 100 megawatts in power output. The company’s units are known for their high efficiency, reliability, and flexibility in operation. These turbines feature advanced combustion systems and emissions control technologies to minimize environmental impact while maintaining high performance.
Some of the major key players operating in the North America aeroderivative gas turbine industry is mentioned below:
Market, By Capacity
Market, By Technology
Market, By Application
The above information has been provided for the following countries:
The market size of North America aeroderivative gas turbine was reached USD 569.4 million in 2023 and is expected to register 6% CAGR from 2024-2032 owing to growing concerns toward environment, along with stringent governmental regulations targeting emissions reduction in the region.
North America aeroderivative gas turbine industry from the > 500 kW to 1 MW segment is expected to exceed USD 125 million by 2032 due to emphasis on developing efficient and affordable turbines, combined with the need to upgrade aging installations for long-term savings and increased returns.
U.S. aeroderivative gas turbine industry is expected to cross USD 500 million by 2032 due to increasing power capacity to keep up with the consistently rising demand in the country.
Kawasaki Heavy Industries, Ltd., MAN Energy Solutions, Mitsubishi Heavy Industries Ltd., Opra Turbines, Pratt & Whitney, Rolls-Royce plc, SAFRAN, Siemens, Solar Turbines, UEC-Saturn, VERICOR, and W