1 / 6

Industrial Gas Turbine Market Trends, Statistics & Growth Forecast 2022- 2030

Industrial Gas Turbine Market Trends, Statistics & Growth Forecast 2022- 2030

GMI1
Download Presentation

Industrial Gas Turbine Market Trends, Statistics & Growth Forecast 2022- 2030

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Industrial Gas Turbine Market is expected to be USD 9.9 Billion by 2030

  2. Industry Overview • The global industrial gas turbine market is estimated to garner commendable growth by 2030. An imploding demand for electricity across rapidly urbanizing nations is popularizing the trend of electricity generation from renewable energy sources. • A massive shift towards abundantly available natural gas resources coupled with supportive regulatory activities and government schemes are encouraging the modernization of grid infrastructure. Moreover, substantial investments are made in restructuring power networks to cater to the surging electricity demand. • In May 2022, the U.S. government announced plans to boost technology development in the field of hydrogen and ammonia-fired gas turbines. With a total of $24.9 million investment, the initiative will support six novel industry-led projects. • The global industrial gas turbine market is segmented into capacity, product, technology, application, and region. • With respect to capacity, the industry is classified into ≤ 70 MW, > 70 MW - 300 MW, and > 300 MW. The demand for > 300 MW gas turbines is expected to grow owing to the massive deployment of renewable energy systems endorsed by favorable government mandates.

  3. Continue… • In terms of application, the industrial gas turbine market is divided into oil & gas and power generation. Growing awareness associated with the hazardous impact of conventional energy resources is accelerating the integration of sustainable energy systems, which will result in high demand for industrial gas turbines across oil & gas applications. • Based on product, the industry is fragmented into heavy-duty, and aero-derivative turbines. Heavy duty industrial gas turbines are anticipated witness significant growth supported by new technological advancements. Various advantages such as high-performance capabilities and enhanced efficiency make heavy-duty gas turbines an ideal fit across a wide range of industrial applications. • Increasing investments and restructuring trade policies will pave the way for segment growth. In June 2022, GE confirmed the successful demonstration of its 7HA.03 gas turbines at Florida Power & Light's (FPL) Dania Beach center. • By technology, the market landscape is bifurcated into open cycle and combined cycle. Among these, open cycle gas turbine industry is anticipated to exceed USD 1.5 billion by 2030. These units are extensively deployed across land-based industries with direct and mechanical drive applications.

  4. Browse Full Market Research Report Of Industrial Gas Turbine Market @ https://www.gminsights.com/industry-analysis/industrial-gas-turbine-market Inquiry Before Buying@ https://www.gminsights.com/inquiry-before-buying/272 Request for a Sample of this Research report @ https://www.gminsights.com/request-sample/detail/272

  5. Industrial Gas Turbine Market

  6. Stay In Touch Website: www.gminsights.com Social Media:

More Related