Global Gas Turbine and Turbine Services Market 2023-28: Business Growth Analysis, Technological Innovation, And Top Leading

Global Gas Turbine and Turbine Services Market Insights:

The Global Gas Turbine and Turbine Services Market is projected to grow at a CAGR of around 4% during the forecast period, i.e., 2023-28. Most of the market would be driven by the uplifting demand for highly efficient gas turbines, reduction in the prices of natural gas, and surging shale gas production.

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Global Gas Turbine and Turbine Services Market Definition:

Gas Turbine and Turbine Services, also Floating Photovoltaic (FPV), involves the installation of solar panels on water bodies like lakes, ponds, & oceans for rapid clean energy generation. Since these set-ups are entirely on water bodies, they depict new horizons across various countries with land constraints. Higher energy yield, improved water quality, reduced evaporation, etc., are prominent benefits of Gas Turbine and Turbine Services panels over land-based systems, owing to which they are being increasingly installed worldwide, specifically in countries with high population density & less available land.

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Growth Challenge: Fluctuating Prices of Natural Gas

The advent of Covid-19 in 2020 negatively impacted the demand for natural gas. Disruption in the supply of natural gas and geopolitical tensions are leading to uncertainty in the availability of gas, which has increased gas price volatility. Because of shale gas exploitation, gas prices in the US have declined dramatically. Though, prices are comparatively high in the rest of the world. These aspects are likely to restrain the growth of the Global Gas Turbine and Turbine Services Market in the coming years.

Global Gas Turbine and Turbine Services Market Segmentation:

1. By Revenues

2. By Volume

3. By Type

• Gas Turbine Sales
• Gas Turbine Services

4. By Service Provider

• OEM
• Non-OEM

5. By Application

• Power Generation
• Oil & Gas
• Other Industrial Application

6. By Capacity

• 30 MW and Below
• 31 MW to 100 MW
• 101 MW to 200 MW
• Above 200 MW

Global Gas Turbine and Turbine Services Market Geographically Analysis:

-By Region

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America

Global Gas Turbine and Turbine Services Leading Companies:

• General Electric
• Siemens AG
• Mitsubishi Hitachi Power Systems, Ltd.
• Kawasaki Heavy Industries, Ltd.
• Ansaldo Energia S.P.A.
• BHEL
• Westinghouse
• Sulzer AG
• MH Power
• EthosEnergy
• MJB International
• MTU Aero Engines AG
• Turbine Services and Solutions LLC
• Solar Turbines Inc.
• Centrax Gas Turbines
• Others

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