Changing Fuel Trends to Create a Positive Atmosphere for Gas Turbines Market

The use of gas turbines can be dated back to many years. Power is generated by creating an air-fuel mixture, which in turn generates hot gases on burning. These hot gases are then used for rotating the turbine to generate electricity. Over the years, gas turbines have found usage in industries like oil & gas and power generation, and with shale gas proving to be a valuable source of energy in the near future, the market for gas turbines sees a promising future ahead.

What Drives the Market?

The gas turbines market is majorly driven by the following factors:

  • Increased availability of natural gas, owing to the booming shale gas segment
  • Rising demand for electric power
  • More number of investments in creating new generating capacity
  • Greater efficiency & lower carbon emission characteristics of natural gas-fired power plants

Asia-Pacific is expected to continue dominating this market, because of the growing urbanization, industrialization, and rising economic growth, which calls for greater requirement for electric power across various countries in this region. This, in turn demands establishing of new power plants, especially gas-fired ones, thereby triggering the growth of this market.

However, inconsistency in pricing of international trade of natural gas and issues related to stable natural gas supply may hamper the growth of this market.

What the Market Looks Like?

The global gas turbines market is expected to grow at a CAGR of 3.9% from 2015 to 2020, reaching a value of USD 19.6 billion by 2020. Currently, Asia-Pacific holds the largest market share, followed by Europe and North America. This trend is expected to continue on the coming years as well. In APAC, Japan dominated the market with majority of the share in 2014, whereas, China is projected to grow at the highest CAGR of 5.5%, during the forecast period.

Among design type, the heavy duty (frame) type segment of gas turbines took up more than two-thirds of the gas turbines market, owing to the increasing number of large-gas fired power plants and rise in demand for heavy duty gas turbines that powers them. And on the basis of technology, the global market for gas turbines used in combined cycle power plants was the largest and took up more than two-thirds of the total market, in terms of value.

In the past few years, above 300 MW rated gas turbines have been gaining attention from all over the world. The market for above 300 MW rated gas turbines is projected to grow at the highest CAGR over the forecast period.

Some of the leading players operational in the market for gas turbines are General Electric Company (U.S.), Siemens AG (Germany), Mitsubishi Hitachi Power Systems, Ltd. (Japan), and Alstom S.A. (France), among others.

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Research Scope

Researchers study and forecast the global market for gas turbines by breaking it down into the following segments and sub-segments:

  • Design Type: Heavy Duty (Frame) Type, Aeroderivative Type
  • Application: Power Generation, Oil & Gas, Other Industries
  • Rated Capacity: 1-40 MW, 40-120 MW, 120-300 MW, Above 300 MW
  • Technology: Open Cycle, Combined Cycle
  • Geography: North America, Latin America, Europe, Asia-Pacific, Middle East & Africa


With natural gas being easily available and shale gas segment booming, the market for gas turbines is set to see a good growth in the near future.

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