North America Gas Turbine Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Technology (Open Cycle and Combined Cycle), Capacity (Below 40 MW, 40-120 MW, 120-300 MW, and Above 300 MW), and Application (Power Generation, Oil and Gas, and Industrial) and Country
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.
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Market Overview and Dynamics
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
- Open Cycle
- Combined Cycle
- Below 40 MW
- 40-120 MW
- 120-300 MW
- Above 300 MW
- 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
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 North America Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis formulation:
3.2.4 Macro-economic factor analysis:
3.2.5 Developing base number:
3.2.6 Data Triangulation:
3.2.7 Country level data:
4. North America Gas Turbine Market Landscape
4.1 Market Overview
5. North America Gas Turbine Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Coal and nuclear driven turbines have been substituted by gas turbines
5.1.2 Demand for electricity has witnessed a sudden rise
5.2 Market Restraints
5.2.1 Huge dependency on gas and electricity sectors
5.3 Market Opportunities
5.3.1 New trend of growth for distributed power generation
5.4 Future Trends
5.4.1 Electricity consumption and growth in aviation industry has revamped new trends to favour gas turbine market
5.5 Impact Analysis
6. Gas Turbine – North America Market Analysis
6.1 Gas Turbine Market Overview
6.2 North America Gas Turbine Market–Revenue and Forecast to 2027 (US$ Mn)
6.3 Market Positioning – Market Players
7. North America Gas Turbine Market Analysis – By Technology
7.1 Overview
7.2 North America Gas Turbine Market, By Technology (2018 and 2027)
7.3 Open Cycle
7.3.1 Overview
7.3.1.1 Open Cycle: Gas Turbine Market – Revenue, and Forecast to 2027 (US$ Million)
7.4 Combined Cycle
7.4.1 Overview
7.4.1.1 Combined Cycle: Gas Turbine Market – Revenue, and Forecast to 2027 (US$ Million)
8. North America Gas Turbine Market Analysis – By Capacity
8.1 Overview
8.2 North America Gas Turbine Market, By Capacity (2018 and 2027)
8.3 Below 40 MW
8.3.1 Overview
8.3.1.1 Below 40 MW: Gas Turbine Market – Revenue and Forecast to 2027 (US$ Million)
8.4 - 120 MW
8.4.1 Overview
8.4.1.1 - 120 MW: Gas Turbine Market – Revenue and Forecast to 2027 (US$ Million)
8.5 - 300 MW
8.5.1 Overview
8.5.1.1 - 300 MW: Gas Turbine Market – Revenue and Forecast to 2027 (US$ Million)
8.6 Above 300 MW
8.6.1 Overview
8.6.1.1 Above 300 MW: Gas Turbine Market – Revenue and Forecast to 2027 (US$ Million)
9. North America Gas Turbine Market Analysis – By Application
9.1 Overview
9.2 North America Gas Turbine Market, By Application (2018 and 2027)
9.3 Power Generation
9.3.1 Overview
9.3.2 Power Generation: Gas Turbine Market – Revenue and Forecast to 2027 (US$ Million)
9.4 Oil and Gas
9.4.1 Overview
9.4.2 Oil and Gas: Gas Turbine Market – Revenue and Forecast to 2027 (US$ Million)
9.5 Industrial
9.5.1 Overview
9.5.2 Industrial: Turbine Market – Revenue and Forecast to 2027 (US$ Million)
10. North America Gas Turbine Market – Country Analysis
10.1 Overview
10.1.1 North America: Gas Turbine Market, by Key Country
10.1.1.1 US: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
10.1.1.1.1 US: Gas Turbine Market, by Technology
10.1.1.1.2 US: Gas Turbine Market, by Capacity
10.1.1.1.3 US: Gas Turbine Market, by Application
10.1.1.2 Canada: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
10.1.1.2.1 Canada: Gas Turbine Market, by Technology
10.1.1.2.2 Canada: Gas Turbine Market, by Capacity
10.1.1.2.3 Canada: Gas Turbine Market, by Application
10.1.1.3 Mexico: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
10.1.1.3.1 Mexico: Gas Turbine Market, by Technology
10.1.1.3.2 Mexico: Gas Turbine Market, by Capacity
10.1.1.3.3 Mexico: Gas Turbine Market, by Application
11. Impact of COVID-19 Pandemic on North America Gas Turbine Market
11.1 Overview
11.2 North America: Impact Assessment of COVID-19 Pandemic
12. Industry Landscape
12.1 Strategy and Business Planning
12.2 Collaboration
12.3 Product Launch
13. Company Profiles
13.1 Ansaldo Energia S.p.A.
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 General Electric Company
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Harbin Electric Company Limited
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.4 Kawasaki Heavy Industries, Ltd.
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.5 Man Energy Solutions
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.6 Mitsubishi Hitachi Power Systems, Ltd.
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Siemens AG
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.8 Solar Turbines Incorporated
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.9 Wärtsilä Corporation
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.10 Bharat Heavy Electricals Limited (BHEL)
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. North America Gas Turbine Market –Revenue and Forecast to 2027 (US$ Mn)
Table 2. US Gas Turbine Market, by Technology – Revenue and Forecast to 2027 (USD Million)
Table 3. US Gas Turbine Market, by Capacity – Revenue and Forecast to 2027 (USD Million)
Table 4. US Gas Turbine Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 5. Canada Gas Turbine Market, by Technology – Revenue and Forecast to 2027 (USD Million)
Table 6. Canada Gas Turbine Market, by Capacity – Revenue and Forecast to 2027 (USD Million)
Table 7. Canada Gas Turbine Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 8. Mexico Gas Turbine Market, by Technology – Revenue and Forecast to 2027 (USD Million)
Table 9. Mexico Gas Turbine Market, by Capacity – Revenue and Forecast to 2027 (USD Million)
Table 10. Mexico Gas Turbine Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 11. List of AbbreviationLIST OF FIGURES
Figure 1. North America Gas turbine Market Segmentation
Figure 2. North America Gas turbine Market Segmentation – By Country
Figure 3. North America Gas Turbine Market Overview
Figure 4. Power Generation Segment Held Largest Share of North America Gas Turbine Market
Figure 5. US Held Largest Share of North America Gas Turbine Market
Figure 6. Combined Cycle Held Largest Share of North America Gas Turbine Market
Figure 7. North America: PEST Analysis
Figure 8. Expert Opinion
Figure 9. North America Impact Analysis of Drivers And Restraints
Figure 10. North America Gas Turbine Market – Revenue and Forecast to 2027 (US$ Mn)
Figure 11. North America Gas Turbine Market Revenue Share, by Technology (2018 and 2027)
Figure 12. North America Open Cycle: Gas Turbine Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 13. North America Combined Cycle: Gas Turbine Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 14. North America Gas Turbine Market Revenue Share, by Capacity (2018 and 2027)
Figure 15. North America Below 40 MW: Gas Turbine Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 16. North America 40 - 120 MW: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
Figure 17. North America 120 - 300 MW: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
Figure 18. North America Above 300 MW: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
Figure 19. North America Gas Turbine Market Revenue Share, by Application (2018 and 2027)
Figure 20. North America Power Generation: Gas Turbine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 21. North America Oil and Gas: Gas Turbine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 22. North America Industrial: Gas Turbine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 23. North America: Gas Turbine Market Revenue Share, by Key Country (2018 and 2027)
Figure 24. US: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
Figure 25. Canada: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
Figure 26. Mexico: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
Figure 27. Impact of COVID-19 Pandemic In North American Country Markets
- 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
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the North America Gas Turbine market.
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