Aero-derivative
gas turbine refers to light-weight gas turbine. It blends fuel with air to
produce the required energy output. It has higher efficiency and is
comparatively lighter than its alternative option for instance traditional gas
turbines. It is mainly classifies as combined or closed cycle technology and
open cycle technology. Most of the turbines are functioned based on open cycle
technology. Aero-derivative gas turbine is in higher demand than other types of
turbines owing to its higher flexibility, lower carbon footprint and shorter
maintenance time. It is used in various industries, such as marine, oil &
gas, and aviation industry.
According
to study, “Global
Gas Turbine Aero-Derivative Services Market Status (2015-2019) and Forecast (2020-2024) by
Region, Product Type & End-Use” the key companies operating in the global
gas turbine aero-derivative services market are General Electric, Mitsubishi
Hitachi Power Systems, Siemens, Kawasaki Heavy Industries, Wood Group, MTU Aero
Engines, Solar Turbines, MAN Diesel & Turbo, AnsaldoEnergia, MJB
International, Sulzer, Proenergy Services. With rise in competition in the
market owing to presence of limited number of manufacturers, key companies are
heavily investing in expanding their research & development (R&D)
facilities to develop & design durable, high-strength, efficient, and
high-quality turbines. Moreover, companies are striving to develop
cost-effective, efficient, and sustainable technologies for application of aero
derivative gas turbines.
Based on
capacity, gas turbine aero-derivative services market is segmented into < 50
KW, 50 KW-500 KW, 500 KW-1 MW, 1 MW-30 MW, 30 MW-70 MW and> 70 MW. Based on
technology type, market is segmented into open cycle technology and combined
cycle technology. Combined cycle technology segment holds major share in market
owing to growth in industry inclination towards supportable energy resources
along with stringent norms across conventional fuels. Based on application,
market is segmented into heavy duty services and aero-derivative services. In
addition, based on end-user, market is segmented into defense, energy industry,
marine, oil & gas industry and aviation industry.
The gas
turbine aero-derivative services market is driven by increase in demand for
capability enhancement in aviation, followed by rapid industrialization,
increase in disposable income of people, large scale renewable integration prospects,
growth in restructuring of electrical infrastructure, rise in focus on
cogeneration technology to fulfil increasing demand for electricity and
increase in focus on maritime defense forces.However, presence of limited
number of manufacturers may impact the market. Moreover, rise in demand for
reliable power sources and growth in sustainable &efficient technologies
are key opportunities for market. Furthermore, increase in applicability of
gas-powered turbine technology across oil & gas sector is a major trend for
market.
Based on
geography, The North-American and European regions hold major share in gas
turbine aero-derivative services market owing to rise in shale gas revolution,
growth in inclination toward energy optimization and positive clean energy
outlook in the region. Whereas, the Asian-Pacific region is expected to witness
higher growth rate due to rise in focus toward decentralized generation
technologies and increase in renewable energy integration over the forecast
period. In upcoming years, it is anticipated that future of the market will be
bright as a result of light weight, short maintenance downtime, low carbon
footprint, and high cycle flexibility associated with aero derivative gas
turbines during the forecast period.
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