Aeroderivative Gas Turbine Market Trends & Projections 2022-2026
Category: #energy-and-environment  By Ronak Bora  Date: 2022-05-11
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Aeroderivative Gas Turbine Market Trends & Projections 2022-2026

Aeroderivative gas turbine market is estimated to gain remarkable traction on account of ongoing investments towards development of power & heat generation facilities in line with supportive government policies toward renewable power generation.

Aeroderivative gas turbine market is expected to exceed an annual installation of 7,500 megawatts by 2026.

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Aeroderivative gas turbines are experiencing high demand from surging oil & gas and power sectors across the globe owing compact design, exceptional performance, and reliability of the product. Also, gas-fired turbines are robustly employed for application in marine and aviation sectors, which is stimulating business growth.

Technological advancement in aeroderivative gas turbines has facilitated enhanced performance, and reduction in maintenance and installation cost. Also, with the introduction of hybrid gas turbine technology may positively impact aeroderivative gas turbine industry demand. For instance, in 2017, General Electric and Southern California Edison introduced Hybrid EGT (LM6000 Hybrid Electric Gas Turbine), their battery-gas turbine hybrid system, which will support renewable fuels to a greater extent. Fast ramping, increased fuel mixture ratio and quick start capabilities are few parameters which may foster the product demand.

Aeroderivative gas turbines are witnessing mounting demand from the oil & gas sector owing to advantageous product benefits, such as flexible operation, longer product life, and cost effectiveness. Recently, Siemens, a leading automation company installed its remote diagnostic services in 29 gas turbines operated by GAIL (largest state-owned natural gas processing and distribution company in India), India in Vijaipur C2/C3 Plant and Hazira Vijaipur Jagdishpur pipeline. The demand for energy across developed and developing economies is resulting in a positive outlook towards cogeneration activities, which may further complement the industry growth over the analysis period.

Growing consumer inclination toward renewable power generation coupled with increased applicability of gas-powered turbines across commercial, industrial, and residential settings is creating favorable conditions for market growth. A new environment air filtration system was developed across microturbine products by Capstone Turbine Corporation in 2018 to reduce carbon emission across various projects in Oman.  Moreover, favorable regulatory scenario encouraging adoption of co-generation technologies through provision of financial incentives, tax rebates, and installation subsidies may fuel product penetration.

The application scope of open & combined cycle gas turbine in aviation and marine sector is widening owing to compact design and light weight attributes of the product. Moreover, introduction of ground-breaking 3D printing technology for printing metal components of guide vanes (grooves that ensure even and smooth passing of water, gas, or air around bends) for gas fired turbines to lower overall structural weight and enhance flexibility will spur product demand over the projected timeframe.

In 2019, Asia Pacific and Europe region collectively held more than 50% of the overall aeroderivative gas turbine industry share. Rapid advancement of CCGT (Combined Cycle Gas Turbine Plant) process plant technology to enhance performance and reduce power generation cost will create feasible conditions for the latest technology adoption.  

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Major players contributing towards aeroderivative gas turbine market growth include Solar Turbines, GE, Mitsubishi Hitachi, Siemens AG, Opra Turbines, and Cryostar among others. These players are increasingly investing in R&D activities to build efficient and flexible gas turbines, which will positively influence aeroderivative gas turbine industry in the coming years.

Partial Chapter of the Table of Content

Chapter 2    Executive Summary

2.1    Global aeroderivative gas turbine market 3600 synopsis, 2015 – 2026

2.1.1    Business trends

2.1.2    Capacity trends

2.1.3    Technology trends

2.1.4    Application trends

2.1.5    Regional trends

Chapter 3    Aeroderivative Gas Turbine Industry Insights

3.1    Industry segmentation

3.2    Industry landscape, 2015 – 2026 (USD Million)

3.3    Industry ecosystem analysis

3.3.1    Vendor matrix

3.4    Innovation & sustainability

3.4.1    General Electric

3.4.2    Siemens

3.4.3    Mitsubishi Hitachi Power Systems

3.4.4    Capstone Turbine Corporation

3.4.5    MAN Diesel & Turbo

3.5    Regulatory landscape

3.5.1    U.S.

3.5.1.1    Clean Air Act

3.5.1.1.1    Clean Air Act Title I - Air Pollution Prevention and Control

3.5.1.2    National Ambient Air Quality Standards (NAAQS)

3.5.1.2.1    NAAQS

3.5.1.3    Stationary Gas and Combustion Turbines: New Source Performance Standards (NSPS)

3.5.1.3.1    Subpart GG

3.5.1.3.2    Subpart KKKK

3.5.1.4    IMO NOX Regulations-Tier III

3.5.2    Europe

3.5.2.1    The Medium Combustion Plant (MCP) Directive

3.5.2.1.1    ELVs (mg/Nm³) –for existing engines/turbines

3.5.2.1.2    ELVs (mg/Nm³) –for new engines/turbines

3.5.2.2    Ambient Air Quality Legislations

3.5.3    China

3.5.3.1    The 13th Five-Year Plan (2016-2020)

3.5.3.1.1    Resource and Environment (R&E) Targets

3.5.3.1.2    Reduction of Emission of Major Pollutants

3.5.3.1.3    Air Quality

3.5.3.2    Shale Gas Development Policies

3.5.4    India

3.5.5    UAE

3.5.6    International Gas Turbine Standards

3.6    Application landscape

Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/aeroderivative-gas-turbine-market 

Related News: https://www.marketwatch.com/press-release/power-and-control-cable-market-by-demand-top-trend-forecast-to-2026-2022-05-11

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About Author

Ronak Bora

Ronak Bora    

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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