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North America Aeroderivative Gas Turbine Market Size

Report ID: GMI9202
Published Date: Apr 2024
Report Format: PDF

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North America Aeroderivative Gas Turbine Market Size

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.

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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.

North America Aeroderivative Gas Turbine Market Report Attributes
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 2024 to 2032 CAGR:	6%
2032 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:	Large scale integration of renewable energy Growing focus toward decentralized generation technologies Positive outlook toward clean energy
Pitfalls & Challenges:	Advancing auxiliary clean turbine technologies

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Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

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 Wärtsilä, are some of the major aeroderivative gas turbine companies in North America.