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Gas Turbine Market statistics and research analysis released in latest report

The latest Gas Turbine Market analysis and research report talks about major applications of GAS TURBINE MARKET, growth of these segments
Amit singh | 20.09.2017

The growing demand for uninterrupted power supply pertaining to the rapid industrialization across the globe will stimulate gas turbine market over the years ahead. Favorable supportive initiations undertaken by the government agencies and private firms to develop power generation plants will fuel the product demand. In addition, there has been a reported increase in the number of excavation and exploration activities in oil & gas sector.

This growth will boost gas turbine industry share noticeably. According to Global Market Insights, Inc., “Worldwide gas turbine market having had a revenue of USD 13 billion in 2015, will surpass a revenue collection of USD 23 billion by 2024.”
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Industrial, aviation, marine, power generation, and oil & gas are the key applications of gas turbine market. Industrial application segment crossed an installation capacity of 13 GW in 2015 and will register a significant growth rate over the coming years, pertaining to the huge requirement of reliable and cost-effective technologies.

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Oil & gas application will record an annual growth rate of more than 6% over the coming period of 2016 to 2024. Surging oil & gas exploration activities across the globe along with the deployment of eco-friendly products will attribute the industry growth. Power generation covered 40% of the share in the application segment of gas turbine market in 2015 and will collect considerable revenue over the years ahead. Initiations taken toward the deployment of clean and environment friendly technologies to control the GHG emissions will stimulate gas turbine market.

Considering the product segment, gas turbine market is mainly divided into aeroderivative and heavy duty turbines. Heavy duty products covered more than 80% of the revenue contribution of the product segment in 2015 and will exhibit considerable annual growth rate over the coming timeframe. Low cost of power generation will fuel the industry size noticeably.

Reasons to Buy This Report:
1. Gas Turbine Market size & share forecast by product & application 2016 – 2024
2. Growth drivers, pitfalls & industry challenges
3. Gas Turbine Market growth opportunities & emerging business models
4. Competitive benchmarking with market share analysis and company profiles
Regionally, China gas turbine industry will register a CAGR of more than 10% over the period of 2016 to 2024. The Government of China has been investing heavily in the development of gas fired power generation plants, which has considerably fueled the product demand.

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Saudi Arabia gas turbine market revenue was valued over USD 1 billion in 2015. Rising onshore and offshore drilling and exploration will add to the revenue over the forecast timeline. Argentina is predicted U.S. gas turbine market will generate substantial revenue by 2024, with an annual growth rate of more than 8% over the coming seven years. Rising excavation and exploration activities of shale gas and petroleum will augment the industry growth.

UAE gas turbine market was valued USD 1 billion in 2015 and will collect significant revenue over the years ahead. The growth can be attributed to the increasing number of onshore and offshore oil & gas drilling activities.
The key players in gas turbine market are Mitsubishi Hitachi Power Systems, General Electric, Bharat Heavy Electricals, Siemens AG, Man Diesel & Turbo, Capstone Turbine, Ansaldo Energia, NPO Saturn, Cryostar, and Solar Turbines Incorporated.

Browse key industry insights spread across 160 pages with 507 market data tables & 11 figures & charts from the report, “Gas Turbine Market Size By Product (Heavy Duty, Aeroderivative), By Capacity (≤ 70 MW, 70-300 MW, ≥ 300MW), By Technology (Open Cycle, Combined Cycle), By Application (Power Generation, Oil & Gas, Industrial, Marine, Aviation), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, UK, Russia, Italy, Germany, France, China, India, Japan, South Korea, Saudi Arabia, UAE, Egypt, Algeria, Brazil, Argentina), Price Trends, Competitive Market Share & Forecast, 2016 – 2024” in detail along with the table of contents:

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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