What is Global Aeroderivative Gas Turbine Market?
The Global Aeroderivative Gas Turbine Market is a sector that focuses on the production and distribution of aeroderivative gas turbines. These turbines are a type of gas turbine that is derived from jet engines. They are lighter and more compact than other types of gas turbines, making them ideal for applications where weight and size are critical factors. The market for these turbines is global, meaning it encompasses all regions of the world. The market is influenced by various factors, including technological advancements, the demand for energy-efficient power generation, and the need for reliable and continuous power supply. However, the market also faces challenges such as high initial investment and maintenance costs. Despite these challenges, the market continues to grow due to the increasing demand for aeroderivative gas turbines in various industries.
below 30MW, More Than or Equal to 30MW in the Global Aeroderivative Gas Turbine Market:
The Global Aeroderivative Gas Turbine Market is segmented based on the power output of the turbines. The two main segments are below 30MW and more than or equal to 30MW. The below 30MW segment includes turbines that have a power output of less than 30MW. These turbines are typically used in small-scale power generation applications. On the other hand, the more than or equal to 30MW segment includes turbines that have a power output of 30MW or more. These turbines are used in large-scale power generation applications. The more than or equal to 30MW segment dominates the market, accounting for over 75% of the market share. This is due to the high demand for these turbines in various industries, including the power generation and oil and gas industries.
Mobility Aeroderivative Gas Turbine, Power Generation Aeroderivative Gas Turbine, Oil and Gas in the Global Aeroderivative Gas Turbine Market:
The Global Aeroderivative Gas Turbine Market finds its application in various areas including Mobility Aeroderivative Gas Turbine, Power Generation Aeroderivative Gas Turbine, and Oil and Gas. In the mobility sector, these turbines are used in aircraft and ships for propulsion. They are preferred due to their high power-to-weight ratio, which makes them ideal for these applications. In the power generation sector, these turbines are used to generate electricity. They are preferred due to their high efficiency and reliability. In the oil and gas industry, these turbines are used for various applications, including pumping and compression. They are preferred due to their ability to operate in harsh environments and their high reliability.
Global Aeroderivative Gas Turbine Market Outlook:
The Global Aeroderivative Gas Turbine Market is expected to grow steadily in the coming years. In 2022, the market was valued at US$ 1304 million. It is projected to reach a value of US$ 1459.2 million by 2029, growing at a Compound Annual Growth Rate (CAGR) of 1.6% during the forecast period from 2023 to 2029. The most common product in this market is the turbine with a power output of more than or equal to 30MW, which accounts for over 75% of the market share.
| Report Metric | Details |
| Report Name | Aeroderivative Gas Turbine Market |
| Accounted market size in 2022 | US$ 1304 in million |
| Forecasted market size in 2029 | US$ 1459.2 million |
| CAGR | 1.6% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | GE, Siemens, MHPS |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
