Open Cycle Aeroderivative Gas Turbine Market – By Capacity (≤ 50 kW, > 50 kW to 500 kW, > 500 kW to 1 MW, > 1 to 30 MW, > 30 to 70 MW, > 70 MW), By Application & Forecast, 2024 – 2032

Open Cycle Aeroderivative Gas Turbine Market Size

Open Cycle Aeroderivative Gas Turbine Market size in 2023 was valued at USD 488.3 million and is anticipated to grow at a rate of 6.7% between 2024 and 2032. Ongoing development and expansion of power plants, aviation, and marine infrastructure coupled with growing focus toward sustainable energy sources will influence the industry scenario.
 

Favorable government policies including incentives program, tax rebates, and subsidies in line with surging investment in gas facilities will augment the product demand. For instance, the German government has unveiled plans to initiate tenders for 10 GW of new gas-fired power station capacity in first quarter of 2024.
 

An open cycle aeroderivative gas turbine is a type of gas turbine engine designed for power generation applications that require flexibility, efficiency, and rapid deployment. Continuous deployment of advanced technology systems combined with increasing investment in aviation sector will proliferate the business landscape. The expanding shale gas supply driven by extensive production and exploration capabilities along with lower carbon emission compared to alternative fossil fuel will foster the demand of aeroderivative gas turbine.
 

Open Cycle Aeroderivative Gas Turbine Market Trends

The continuous advancements of co-generation systems to support efficient heat and energy supply across industries including oil & gas, process plants, and power plants will energize the industry dynamics. In addition, government policies and initiatives to curb carbon footprints coupled with abundant availability of natural gas reserves will sway the adoption of gas turbines. Growing industrialization across key emerging economies in line with rising energy demand will escalate the product penetration.
 

Open Cycle Aeroderivative Gas Turbine Market Analysis

The > 30 to 70 MW rated open cycle aeroderivative gas turbine industry will exceed USD 200 million by 2032. These units are poised for substantial growth owing to their flexibility in meeting fluctuating power demands and their high efficiency in converting fuel into electricity. Ongoing advancements in combustion technology, control systems, and materials in line with integration of renewable energy source will spur the demand for these turbines. Increasing urbanization & industrialization in conjunction with ongoing stringent emission regulations pertaining to mitigate climate change will energize the industry dynamic.
 

The power plants open cycle aeroderivative gas turbine market size will witness a growth at a CAGR of over 6.5% till 2032. The industry has experienced significant growth on account of rapid startup and shutdown capabilities, making ideal for peaking power generation to meet fluctuating electricity demand. Stringent energy efficiency standards and codes in line with robust industrialization have enforced industries to enhance their power generation capabilities will complement the industry potential. Furthermore, government initiatives aimed at achieving sustainable energy portfolios will stimulate the product deployment.
 

North America open cycle aeroderivative gas turbine market is set to surpass USD 200 million by 2032. The region is witnessing significant growth owing to their robust investment to support renewable energy integration and industrial operations. The growing necessity to replace coal powered power plants to curb emissions will drive the industry landscape. Ongoing initiatives to enhance efficiency and ensure consistent weight in aircraft will significantly accelerate the deployment of these products.
 

U.S. market is poised to grow on account of increasing focus toward greenhouse gas emission along with adoption of cleaner energy source. Surging demand for aircraft in defense sector in conjunction with heightened national security measures and safety compliance will accelerate the industry dynamics. Moreover, continuous efforts to expand power capacity to meet increasing energy demand will positively impact the industry growth.
 

Open Cycle Aeroderivative Gas Turbine Market Share

General Electric operates as an infrastructure and technology company. It operates through renewable energy, power, oil & gas, energy management, healthcare, transportation, appliances & lighting, aviation, and capital segments. The power segment offers distributed power gas engines, gas & steam power systems, service, maintenance, wastewater treatment, process system solutions, and support services. The oil & gas segment offers surface & subsea drilling systems, production systems, turbines, industrial power generation, high-pressure reactors, and equipment for floating production platforms.
 

Open Cycle Aeroderivative Gas Turbine Market Companies

The key industry players include:

• Ansaldo Energia
• Baker Hughes Company
• Bharat Heavy Electricals Limited (BHEL)
• Capstone Green Energy Corporation
• Destinus Energy
• General Electric
• Kawasaki Heavy Industries, Ltd.
• MAN Energy Solutions
• Mitsubishi Heavy Industries Ltd.
• Nanjing Steam Turbine Motor (Group) Co., Ltd.
• Pratt & Whitney
• Rolls-Royce plc
• Siemens Energy
• United Engine Corporation JSC
• VERICOR
• Wartsila
   

Open Cycle Aeroderivative Gas Turbine Industry News

• In May 2024, GE Vernova secured an order from the Tennessee Valley Authority for a project to replace the aging 1.3-GW of Kingston Fossil Plant in the Tennessee with an advanced 1.5 GW power complex. As part of this ambitious initiative, GE Vernova will supply 16 cutting-edge LM6000VELOX dual fuel DLE gas turbine. These advanced units are expected to deliver a robust 850 MW upon commencing operations in 2028.
   
• In June 2023, Safran Helicopter Engines announced a strategic partnership with Electra to develop a cutting-edge 600 kW of an electric turbogenerator propulsion unit for the prototype of an Electra’s nine-passenger aircraft. This state-of-the-art turbogenerator is a critical component of Electra’s revolutionary hybrid-electric propulsion architecture, designed for low-carbon aviation. The system combines a gas turbine with electric generators and features an advanced electrical power and voltage regulation system.
   

The open cycle aeroderivative gas turbine market research report includes in-depth coverage of the industry with estimates & forecast in terms of “MW” & “USD Million” from 2021 to 2032, for the following segments:

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Market, By Capacity

• ≤ 50 kW
• > 50 kW to 500 kW
• > 500 kW to 1 MW
• > 1 to 30 MW
• > 30 to 70 MW
• > 70 MW

Market, By Application

• Power Plants
• Oil & Gas
• Process Plants
• Aviation
• Marine
• Others

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • France
  • Germany
  • Russia
  • Italy
  • Netherlands
  • Finland
  • Greece
  • Denmark
  • Romania
  • Poland
  • Sweden
• Asia Pacific
  • China
  • China
  • Australia
  • Japan
  • South Korea
  • Indonesia
  • Thailand
  • Bangladesh
  • Malaysia
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • Kuwait
  • Oman
  • Egypt
  • Türkiye
  • Bahrain
  • Iraq
  • Jordan
  • Lebanon
  • South Africa
  • Nigeria
  • Algeria
  • Kenya
  • Ghana
• Latin America
  • Brazil
  • Argentina
  • Peru
  • Chile