Gas Turbine Market Segmentation:
Capacity Segment Analysis
The above 200 MW segment is estimated to hold about 37% market share by 2035. The segment growth can be attributed to growing demand for efficient, reliable and cost-effective power generation solutions in large-scale applications. For instance, 6 GE LM2500XPRESS gas turbines will generate approximately 200 megawatts (MW) of power at the temporary gas-fired power plant in Dublin, allowing Ireland to meet its electricity demand and ensure the stability of its electricity supply. Additionally, higher fuel efficiency and lower maintenance costs associated with gas turbines are expected to drive the segment growth. Moreover, above 200 MW turbines are more efficient than smaller turbines and can generate more power with less fuel. This makes them a more cost-effective option for power generation companies.
Type Segment Analysis
The open cycle segment share is estimated to surpass 64% by 2035, led by increasing installation of open cycle gas turbines in industrial, power and oil & gas industries owing to its lower capital costs and faster start-up time. It is also beneficial for providing base load and peak load power in an efficient and reliable manner. It is analyzed that gas turbines with open cycles are observed to have high thermal efficiency of up to 44%. A gas turbine with an open cycle (OCGT) is the simplest way to generate electricity or power from gas combustion. An OCGT consists only of a gas turbine, with no waste heat recovered.
Our in-depth analysis of the global market includes the following segments:
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By Capacity |
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By Type |
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By End User |
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