Aeroderivative Gas Turbine Market Growth, Size, Share, Outlook 2024-2032
According to the report by Expert Market Research (EMR), the Global Aeroderivative Gas Turbine Market Size is projected to grow at a CAGR of 4.2% between 2024 and 2032. Aided by the escalating demand for flexible power generation solutions and the burgeoning applications of aeroderivative gas turbines across various industries, the market is expected to grow significantly by 2032.
Aeroderivative gas turbines are derived from jet engines and are characterised by their high efficiency, low emissions, and rapid start-up times. They are primarily used in power generation, mechanical drive, and marine propulsion applications. The compact size, light weight, and high power-to-weight ratio of these turbines make them an invaluable asset across various sectors, including aviation, marine, and power generation industries.
The surging demand for flexible and efficient power generation solutions is driving the global aeroderivative gas turbine market growth. With increasing power consumption worldwide and the need for quick grid balancing solutions, the high operational flexibility, and fast ramp-up times of aeroderivative gas turbines have resulted in heightened demand.
Furthermore, the rising trend towards cleaner energy production has also fuelled the popularity of aeroderivative gas turbines, boosting the aeroderivative gas turbine market development. These turbines produce fewer emissions than their industrial counterparts, aligning with global efforts to mitigate climate change and reduce carbon footprint. This environmental advantage positions aeroderivative gas turbines as a preferred choice for power generation in the era of energy transition.
The expansive application range of aeroderivative gas turbines significantly contributes to the aeroderivative gas turbine market expansion. In aviation, these turbines are widely employed as auxiliary power units and for generating thrust in jet engines. In the marine industry, their high-power output and compact design make them ideal for propulsion applications in naval and commercial ships. Moreover, these turbines are leveraged in the power industry for peaking power, cogeneration, and load following applications due to their operational flexibility.
Looking ahead, the global aeroderivative gas turbine market is set for robust growth. The increasing emphasis on renewable energy integration is likely to push the demand for aeroderivative gas turbines as they provide fast and flexible back-up for intermittent renewable sources like wind and solar.
Emerging technologies, such as digital twin and predictive maintenance, are expected to enhance the performance and lifespan of aeroderivative gas turbines, offering new growth opportunities for the market. Moreover, advancements in turbine design to increase efficiency and reduce maintenance costs will further spur the aeroderivative gas turbine market growth.
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Aeroderivative Gas Turbine Market Segmentation
The market can be divided based on technology, cycle, sector, capacity, and region.
Market Breakup by Technology
• Aeroderivative
• Light Industrial
• Heavy Duty
Market Breakup by Cycle
• Simple Cycle
• Combined Cycle
Market Breakup by Sector
• Manufacturing
• Oil and Gas
• Electric Power Utility
Market Breakup by Capacity
• Upto 1 MW
• 1 – 30 MW
• 30 -70 MW
• Above 70 MW
Market Breakup by Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
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Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global aeroderivative gas turbine companies. Some of the major key players explored in the report by Expert Market Research are as follows:
• Baker Hughes Company
• General Electric Company
• MAN Energy Solutions SE
• Wärtsilä Corporation
• Siemens AG
• Kawasaki Heavy Industries, Ltd.
• Others
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