Middle East Gas Turbine Market Size 2020 | Industry Analysis, Share, Growth, Trends and Forecast To 2027
Category: #energy-and-environment  By Ronak Bora  Date: 2021-05-27
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Middle East Gas Turbine Market Size 2020 | Industry Analysis, Share, Growth, Trends and Forecast To 2027

The Middle East gas turbine market size will experience steady growth during the forecast period ending 2024, according to market experts. One of the major reasons for this is the paradigm shift among the leading companies in the region towards installing energy-efficient plants and the growing need to reduce Greenhouse Gas (GHG) emissions.

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There is an incredible rise seen in the number of initiatives taken by Middle Eastern governments to ensure that advanced technologies are developed to use energy sources efficiently. Various areas like aerodynamics, cooling, material and combustion are undergoing transformation in this regard. These factors will have a positive impact on the overall development of gas turbine industry in the region.

This industry is set to exceed the annual installation of 4 GW during the forecast timeline. Some of the key trends that will bolster gas turbine market in Middle East region are listed below:

Installation of combined cycle generation plants:

Research and development activities are increasing in Middle East and regulations are being placed to increase the installation of combined cycle generation plants. For example, in 2015, European Investment Bank (EIB) lent loan worth $600 million to Egypt to start the development of Damanhour Power Plant having 1800 MW capacity. There is an increased focus among leading companies to bring upgrades to their existing power plants. All these factors will enhance gas turbine market growth in the region.

Combined cycle gas turbines have many benefits associated with them like higher efficiency in operations, lower operational cost, effective utilization of residual heat and highly eco-friendly in nature. On the other hand, there is growing inclination among the industry participants to use eco-friendly energy sources to meet the growing power demand in the region. All of this will encourage gas turbine market growth.

Eco-friendly alternatives and technologies to replace fossil fuels:

Fossil fuels pose different dangers to the environment as they cause a lot of pollution and waste. These disadvantages have led to increased awareness among end-users, resulting in rigorous search for eco-friendly alternatives to these non-renewable fuels. Favorable policies introduced by the governments to provide financial incentives to companies using eco-friendly fuels, will favor gas turbine market in Middle East region.

Technologies that help conserve energy will experience strong growth prospects in Middle East. This is because they will help replace energy sources like coal which is not just exhaustive but is quite inefficient as well in catering to the energy demands of various power plants. As per a report released by OPEC in 2016, Saudi Arabia, a country that heavily depends on oil exports and generates almost 85% of its total income from this resource, was on the way to replace oil powered plants with gas fired ones.

Increased demand for less than 50 kW gas turbines:

Gas turbines with < 50 kW power will witness increased demand among end-users in Middle East region through 2024. One of the main reasons for this is that there is an increase in the installation of co-generating units across various industrial plants. These units utilize power in a way that withstand the heavy-duty operations going on in the manufacturing plants. Re-generative gas turbines are rising in demand as they effectively use energy sources by regenerating power from them to overcome the issue of power shortage.

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Some of the prominent companies that are engaged in manufacturing gas turbines for the Middle East region are MAPNA, Siemens AG, Centrax, Wartsila, General Electric, Solar Turbines, Capstone Turbine and many others.

Table of Contents (ToC) of the report:

Chapter 1. Methodology and Scope

1.1. Methodology

1.2. Market definitions

1.3. Market estimations and forecast parameters

1.4. Data sources

1.4.1.   Primary

1.4.2.   Secondary

Chapter 2. Executive Summary

2.1. Middle East gas turbine industry 3600 synopsis, 2013 – 2024

2.1.1.   Business trends

2.1.2.   Capacity trends

2.1.3.   Product trends.

2.1.4.   Technology trends.

2.1.5.   Application trends

2.1.6.   Country trends

Browse complete Table of Contents (ToC) of this research report @ https://www.graphicalresearch.com/table-of-content/1031/middle-east-gas-turbine-market

About Graphical Research:                              

Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle.

 

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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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