North America Gas Turbine Market

Market Introduction

Gas Turbine is an internal combustion engine comprising combustion chambers that releases expanding gases, which further drive the blades of a turbine. The gas turbine converts natural gas and other liquids into mechanical energy. This energy then fuels generators to produce electrical energy. The various advantages associated with gas turbines are high power to weight ratio and low operations pressure. Despite being small in size, the gas turbines possess a high power rating. They reduce carbon emissions and release fewer emissions into the air as compared to other engines. Thus, the substitution of gas turbines in place of coal and nuclear driven turbines is expected to create a significant demand for gas turbines in the coming years, which is further anticipated to drive the gas turbine market. The ongoing The COVID-19 outbreak has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The energy and power industry is one of the major industries that is suffering serious disruptions. In addition to this, North America travel bans are affecting the business collaborations and partnerships opportunities. US is the worst affected country in terms confirmed cases and reported deaths.

North America Gas Turbine Strategic Insights

Strategic insights for the North America Gas Turbine provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

North America Gas Turbine Report Scope

North America Gas Turbine Regional Insights

The geographic scope of the North America Gas Turbine refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

The mineral insulated heating cable market in North America is expected to grow from US$ 6,723.37 Mn in 2018 to US$ 9,334.79 Mn by 2027; it is estimated to grow at a CAGR of 3.7% from 2019 to 2027. New trend of growth for distributed power generation is going to be a positive sign for gas turbine market. The organizations of people and resources are drifting away from the centralized system towards integrated networks that include both distributed and centralized elements. Electric power systems are riding the wave of decentralization through the deployment and use of distributed power technologies. Distributed power systems are being used and will continue to be used in the future to provide electrical and mechanical power to the nearest point of use. In the year 2012, $150 billion was distributed in distributed power technologies. Gas turbines are included in the portfolio of distributer power technologies. The innovative emergence of the aero-derivative gas turbines has fuelled the upswing of distributed power systems. Thus, an increase in the trend for distributed power generation is expected to bolster well the demand for gas turbines in the near future.

Key Market Segments

In terms of technology, the combined cycle accounted for the largest share of the North America gas turbine market in 2018. In terms of Capacity, 120-300 MW segment held a larger market share of the gas turbine market in 2019. Further, the power generation segment held a larger share of the market based on application in 2018.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the gas turbine market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Ansaldo Energia S.p.A., Bharat Heavy Electricals Limited (BHEL), General Electric Company, Harbin Electric Company Limited, Kawasaki Heavy Industries, Ltd., Man Energy Solutions, Mitsubishi Hitachi Power Systems, Ltd., Siemens AG, Solar Turbines Incorporated and Wärtsilä Corporation among others.

Reasons to buy report

• To understand the North America gas turbine market landscape and identify market segments that are most likely to guarantee a strong return
• Stay ahead of the race by comprehending the ever-changing competitive landscape for North America gas turbine market.
• Efficiently plan M&A and partnership deals in North America gas turbine market by identifying market segments with the most promising probable sales
• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America gas turbine market
• Obtain market revenue forecast for market by various segments from 2020-2027 in North America region.

NORTH AMERICA GAS TURBINE MARKET SEGMENTATION

By Technology

• Open Cycle
• Combined Cycle

By

Capacity

• Below 40 MW
• 40-120 MW
• 120-300 MW
• Above 300 MW

By

Application

• Power Generation
• Oil and Gas
• Industrial

By Country

• US
• Canada
• Mexico

Company Profiles

• Ansaldo Energia S.p.A.
• Bharat Heavy Electricals Limited (BHEL)
• General Electric Company
• Harbin Electric Company Limited
• Kawasaki Heavy Industries, Ltd.
• Man Energy Solutions
• Mitsubishi Hitachi Power Systems, Ltd.
• Siemens AG
• Solar Turbines Incorporated
• Wärtsilä Corporation