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Aeroderivative Gas Turbine Market by Capacity (Upto 1 MW, 1-30 MW, 30-70 MW, Above 70 MW), Technology (Open Cycle, Combined Cycle), Application (Power Plants, Oil and Gas, Process Plants, Aviation, Marine, and Others), and Region 2024-2032

April 2024 | 138 pages | ID: A24F3A458861EN
IMARC Group

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The global aeroderivative gas turbine market size reached US$ 3.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 5.4 Billion by 2032, exhibiting a growth rate (CAGR) of 4.9% during 2024-2032. The widespread adoption of aeroderivative gas turbines across oil and gas industry, increasing environmental consciousness and the extensive product usage in the aviation industry represent some of the key factors driving the market.

Aeroderivative gas turbines represent a lightweight version of conventional gas turbines which are specially designed for various air use, including airplanes. They are intended to combine and ignite fuel and air effectively to break gasoline fuel into smaller particles and burn the combustion process for atomizing and vaporing the fuel in varying proportions. Aeroderivative gas turbines are reliable, flexible, efficient, and cost-effective, and they provide cheaper power, better quality grid, and cleaner energy with lower emissions in comparison to reciprocating engines. Apart from this, they are dependable and offer high performance, simple maintenance, easy integration, and fast installation. Consequently, aeroderivative gas turbines are widely used in combined heat and power-generation operations.

Aeroderivative Gas Turbine Market Trends:
The widespread adoption of aeroderivative gas turbines across oil and gas industry represents one of the key factors driving the market growth. This can be attributed to the widespread utilization of decentralized renewable energy generation solutions, which is contributing to the market growth. In line with this, the increasing environmental concerns and the rising consciousness regarding the detrimental effects of using non-renewable energy sources, such as coal, petroleum, and fossils, are acting as another growth-inducing factor. Additionally, the implementation of numerous sustainable frameworks by governments has prompted manufacturers to constantly upgrade traditional power plants and employ aeroderivative gas turbines, which are supporting the market growth. Such mechanical solutions are highly-efficient as they reduce the emission of harmful gases, including nitrogen dioxide (NO2); therefore, they are utilized in applications wherein lightweight devices are required. Furthermore, the extensive deployment of aeroderivative gas turbines in the aeronautical industry to reduce vehicle weight is propelling the market growth. Additionally, the escalating passenger traffic and the rising need for clean energy alternatives have facilitated the demand for aeroderivative gas turbines in the aviation sector, which in turn, is further contributing to the market growth. Apart from this, the ongoing product diversification by key players and the continuous research and development (R&D) activities to enhance product efficacy are creating a positive outlook for the market. Other factors, such as the increasing product utilization across the defense sector, stringent energy efficiency measures in line with the rapid industrialization, and an enhanced focus on sustainable development, are driving the market toward growth further.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global aeroderivative gas turbine market, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on capacity, technology, and application.

Capacity Insights:

Upto 1 MW
1-30 MW
30-70 MW
Above 70 MW

The report has also provided a detailed breakup and analysis of the aeroderivative gas turbine market based on capacity. This includes upto 1 MW, 1-30 MW, 30-70 MW, and above 70 MW. According to the report, above 70 MW represented the largest segment.

Technology Insights:

Open Cycle
Combined Cycle

A detailed breakup and analysis of the aeroderivative gas turbine market based on the technology has also been provided in the report. This includes open and combined cycles. According to the report, combined cycle accounted for the largest market share.

Application Insights:

Power Plants
Oil and Gas
Process Plants
Aviation
Marine
Others

The report has also provided a detailed breakup and analysis of the aeroderivative gas turbine market based on the application. This includes power plants, oil and gas, process plants, aviation, marine, and others. According to the report, aviation represented the largest segment.

Regional Insights:

North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for aeroderivative gas turbines. Some of the factors driving the North America aeroderivative gas turbine market included the widespread product adoption across oil and gas and marine sectors, enhanced focus on sustainable development, and extensive research and development (R&D) activities.

Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global aeroderivative gas turbine market. Detailed profiles of all major companies have also been provided. Some of the companies covered include Baker Hughes Company, General Electric Company, Mitsubishi Heavy Industries Ltd., MTU Aero Engines AG, Siemens AG,etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Questions Answered in This Report:
How has the global aeroderivative gas turbine market performed so far and how will it perform in the coming years?
What are the drivers, restraints, and opportunities in the global aeroderivative gas turbine market?
What are the key regional markets?
Which countries represent the most attractive aeroderivative gas turbine markets?
What is the breakup of the market based on capacity?
What is the breakup of the market based on technology?
What is the breakup of the market based on the application?
What is the competitive structure of the global aeroderivative gas turbine market?
Who are the key players/companies in the global aeroderivative gas turbine market?
1 PREFACE

2 SCOPE AND METHODOLOGY

2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
  2.3.1 Primary Sources
  2.3.2 Secondary Sources
2.4 Market Estimation
  2.4.1 Bottom-Up Approach
  2.4.2 Top-Down Approach
2.5 Forecasting Methodology

3 EXECUTIVE SUMMARY

4 INTRODUCTION

4.1 Overview
4.2 Key Industry Trends

5 GLOBAL AERODERIVATIVE GAS TURBINE MARKET

5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast

6 MARKET BREAKUP BY CAPACITY

6.1 Upto 1 MW
  6.1.1 Market Trends
  6.1.2 Market Forecast
6.2 1-30 MW
  6.2.1 Market Trends
  6.2.2 Market Forecast
6.3 30-70 MW
  6.3.1 Market Trends
  6.3.2 Market Forecast
6.4 Above 70 MW
  6.4.1 Market Trends
  6.4.2 Market Forecast

7 MARKET BREAKUP BY TECHNOLOGY

7.1 Open Cycle
  7.1.1 Market Trends
  7.1.2 Market Forecast
7.2 Combined Cycle
  7.2.1 Market Trends
  7.2.2 Market Forecast

8 MARKET BREAKUP BY APPLICATION

8.1 Power Plants
  8.1.1 Market Trends
  8.1.2 Market Forecast
8.2 Oil and Gas
  8.2.1 Market Trends
  8.2.2 Market Forecast
8.3 Process Plants
  8.3.1 Market Trends
  8.3.2 Market Forecast
8.4 Aviation
  8.4.1 Market Trends
  8.4.2 Market Forecast
8.5 Marine
  8.5.1 Market Trends
  8.5.2 Market Forecast
8.6 Others
  8.6.1 Market Trends
  8.6.2 Market Forecast

9 MARKET BREAKUP BY REGION

9.1 North America
  9.1.1 United States
    9.1.1.1 Market Trends
    9.1.1.2 Market Forecast
  9.1.2 Canada
    9.1.2.1 Market Trends
    9.1.2.2 Market Forecast
9.2 Asia-Pacific
  9.2.1 China
    9.2.1.1 Market Trends
    9.2.1.2 Market Forecast
  9.2.2 Japan
    9.2.2.1 Market Trends
    9.2.2.2 Market Forecast
  9.2.3 India
    9.2.3.1 Market Trends
    9.2.3.2 Market Forecast
  9.2.4 South Korea
    9.2.4.1 Market Trends
    9.2.4.2 Market Forecast
  9.2.5 Australia
    9.2.5.1 Market Trends
    9.2.5.2 Market Forecast
  9.2.6 Indonesia
    9.2.6.1 Market Trends
    9.2.6.2 Market Forecast
  9.2.7 Others
    9.2.7.1 Market Trends
    9.2.7.2 Market Forecast
9.3 Europe
  9.3.1 Germany
    9.3.1.1 Market Trends
    9.3.1.2 Market Forecast
  9.3.2 France
    9.3.2.1 Market Trends
    9.3.2.2 Market Forecast
  9.3.3 United Kingdom
    9.3.3.1 Market Trends
    9.3.3.2 Market Forecast
  9.3.4 Italy
    9.3.4.1 Market Trends
    9.3.4.2 Market Forecast
  9.3.5 Spain
    9.3.5.1 Market Trends
    9.3.5.2 Market Forecast
  9.3.6 Russia
    9.3.6.1 Market Trends
    9.3.6.2 Market Forecast
  9.3.7 Others
    9.3.7.1 Market Trends
    9.3.7.2 Market Forecast
9.4 Latin America
  9.4.1 Brazil
    9.4.1.1 Market Trends
    9.4.1.2 Market Forecast
  9.4.2 Mexico
    9.4.2.1 Market Trends
    9.4.2.2 Market Forecast
  9.4.3 Others
    9.4.3.1 Market Trends
    9.4.3.2 Market Forecast
9.5 Middle East and Africa
  9.5.1 Market Trends
  9.5.2 Market Breakup by Country
  9.5.3 Market Forecast

10 DRIVERS, RESTRAINTS, AND OPPORTUNITIES

10.1 Overview
10.2 Drivers
10.3 Restraints
10.4 Opportunities

11 VALUE CHAIN ANALYSIS

12 PORTERS FIVE FORCES ANALYSIS

12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes

13 PRICE ANALYSIS

14 COMPETITIVE LANDSCAPE

14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
  14.3.1 Baker Hughes Company
    14.3.1.1 Company Overview
    14.3.1.2 Product Portfolio
    14.3.1.3 Financials
    14.3.1.4 SWOT Analysis
  14.3.2 General Electric Company
    14.3.2.1 Company Overview
    14.3.2.2 Product Portfolio
    14.3.2.3 Financials
    14.3.2.4 SWOT Analysis
  14.3.3 Mitsubishi Heavy Industries Ltd.
    14.3.3.1 Company Overview
    14.3.3.2 Product Portfolio
    14.3.3.3 Financials
    14.3.3.4 SWOT Analysis
  14.3.4 MTU Aero Engines AG
    14.3.4.1 Company Overview
    14.3.4.2 Product Portfolio
    14.3.4.3 Financials
    14.3.4.4 SWOT Analysis
  14.3.5 Siemens AG
    14.3.5.1 Company Overview
    14.3.5.2 Product Portfolio
    14.3.5.3 Financials
    14.3.5.4 SWOT Analysis
Kindly, note that this only represents a partial list of companies, and the complete list has been provided in the report.

LIST OF TABLES

Table 1: Global: Aeroderivative Gas Turbine Market: Key Industry Highlights, 2023 & 2032
Table 2: Global: Aeroderivative Gas Turbine Market Forecast: Breakup by Capacity (in Million US$), 2024-2032
Table 3: Global: Aeroderivative Gas Turbine Market Forecast: Breakup by Technology (in Million US$), 2024-2032
Table 4: Global: Aeroderivative Gas Turbine Market Forecast: Breakup by Application (in Million US$), 2024-2032
Table 5: Global: Aeroderivative Gas Turbine Market Forecast: Breakup by Region (in Million US$), 2024-2032
Table 6: Global: Aeroderivative Gas Turbine Market: Competitive Structure
Table 7: Global: Aeroderivative Gas Turbine Market: Key Players

LIST OF FIGURES

Figure 1: Global: Aeroderivative Gas Turbine Market: Major Drivers and Challenges
Figure 2: Global: Aeroderivative Gas Turbine Market: Sales Value (in Billion US$), 2018-2023
Figure 3: Global: Aeroderivative Gas Turbine Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 4: Global: Aeroderivative Gas Turbine Market: Breakup by Capacity (in %), 2023
Figure 5: Global: Aeroderivative Gas Turbine Market: Breakup by Technology (in %), 2023
Figure 6: Global: Aeroderivative Gas Turbine Market: Breakup by Application (in %), 2023
Figure 7: Global: Aeroderivative Gas Turbine Market: Breakup by Region (in %), 2023
Figure 8: Global: Aeroderivative Gas Turbine (Upto 1 MW) Market: Sales Value (in Million US$), 2018 & 2023
Figure 9: Global: Aeroderivative Gas Turbine (Upto 1 MW) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 10: Global: Aeroderivative Gas Turbine (1-30 MW) Market: Sales Value (in Million US$), 2018 & 2023
Figure 11: Global: Aeroderivative Gas Turbine (1-30 MW) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 12: Global: Aeroderivative Gas Turbine (30-70 MW) Market: Sales Value (in Million US$), 2018 & 2023
Figure 13: Global: Aeroderivative Gas Turbine (30-70 MW) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 14: Global: Aeroderivative Gas Turbine (Above 70 MW) Market: Sales Value (in Million US$), 2018 & 2023
Figure 15: Global: Aeroderivative Gas Turbine (Above 70 MW) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 16: Global: Aeroderivative Gas Turbine (Open Cycle) Market: Sales Value (in Million US$), 2018 & 2023
Figure 17: Global: Aeroderivative Gas Turbine (Open Cycle) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 18: Global: Aeroderivative Gas Turbine (Combined Cycle) Market: Sales Value (in Million US$), 2018 & 2023
Figure 19: Global: Aeroderivative Gas Turbine (Combined Cycle) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 20: Global: Aeroderivative Gas Turbine (Power Plants) Market: Sales Value (in Million US$), 2018 & 2023
Figure 21: Global: Aeroderivative Gas Turbine (Power Plants) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 22: Global: Aeroderivative Gas Turbine (Oil and Gas) Market: Sales Value (in Million US$), 2018 & 2023
Figure 23: Global: Aeroderivative Gas Turbine (Oil and Gas) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 24: Global: Aeroderivative Gas Turbine (Process Plants) Market: Sales Value (in Million US$), 2018 & 2023
Figure 25: Global: Aeroderivative Gas Turbine (Process Plants) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 26: Global: Aeroderivative Gas Turbine (Aviation) Market: Sales Value (in Million US$), 2018 & 2023
Figure 27: Global: Aeroderivative Gas Turbine (Aviation) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 28: Global: Aeroderivative Gas Turbine (Marine) Market: Sales Value (in Million US$), 2018 & 2023
Figure 29: Global: Aeroderivative Gas Turbine (Marine) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 30: Global: Aeroderivative Gas Turbine (Other Applications) Market: Sales Value (in Million US$), 2018 & 2023
Figure 31: Global: Aeroderivative Gas Turbine (Other Applications) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 32: North America: Aeroderivative Gas Turbine Market: Sales Value (in Million US$), 2018 & 2023
Figure 33: North America: Aeroderivative Gas Turbine Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 34: United States: Aeroderivative Gas Turbine Market: Sales Value (in Million US$), 2018 & 2023
Figure 35: United States: Aeroderivative Gas Turbine Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 36: Canada: Aeroderivative Gas Turbine Market: Sales Value (in Million US$), 2018 & 2023
Figure 37: Canada: Aeroderivative Gas Turbine Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 38: Asia-Pacific: Aeroderivative Gas Turbine Market: Sales Value (in Million US$), 2018 & 2023
Figure 39: Asia-Pacific: Aeroderivative Gas Turbine Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 40: China: Aeroderivative Gas Turbine Market: Sales Value (in Million US$), 2018 & 2023
Figure 41: China: Aeroderivative Gas Turbine Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 42: Japan: Aeroderivative Gas Turbine Market: Sales Value (in Million US$), 2018 & 2023
Figure 43: Japan: Aeroderivative Gas Turbine Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 44: India: Aeroderivative Gas Turbine Market: Sales Value (in Million US$), 2018 & 2023
Figure 45: India: Aeroderivative Gas Turbine Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 46: South Korea: Aeroderivative Gas Turbine Market: Sales Value (in Million US$), 2018 & 2023
Figure 47: South Korea: Aeroderivative Gas Turbine Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 48: Australia: Aeroderivative Gas Turbine Market: Sales Value (in Million US$), 2018 & 2023
Figure 49: Australia: Aeroderivative Gas Turbine Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 50: Indonesia: Aeroderivative Gas Turbine Market: Sales Value (in Million US$), 2018 & 2023
Figure 51: Indonesia: Aeroderivative Gas Turbine Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 52: Others: Aeroderivative Gas Turbine Market: Sales Value (in Million US$), 2018 & 2023
Figure 53: Others: Aeroderivative Gas Turbine Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 54: Europe: Aeroderivative Gas Turbine Market: Sales Value (in Million US$), 2018 & 2023
Figure 55: Europe: Aeroderivative Gas Turbine Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 56: Germany: Aeroderivative Gas Turbine Market: Sales Value (in Million US$), 2018 & 2023
Figure 57: Germany: Aeroderivative Gas Turbine Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 58: France: Aeroderivative Gas Turbine Market: Sales Value (in Million US$), 2018 & 2023
Figure 59: France: Aeroderivative Gas Turbine Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 60: United Kingdom: Aeroderivative Gas Turbine Market: Sales Value (in Million US$), 2018 & 2023
Figure 61: United Kingdom: Aeroderivative Gas Turbine Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 62: Italy: Aeroderivative Gas Turbine Market: Sales Value (in Million US$), 2018 & 2023
Figure 63: Italy: Aeroderivative Gas Turbine Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 64: Spain: Aeroderivative Gas Turbine Market: Sales Value (in Million US$), 2018 & 2023
Figure 65: Spain: Aeroderivative Gas Turbine Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 66: Russia: Aeroderivative Gas Turbine Market: Sales Value (in Million US$), 2018 & 2023
Figure 67: Russia: Aeroderivative Gas Turbine Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 68: Others: Aeroderivative Gas Turbine Market: Sales Value (in Million US$), 2018 & 2023
Figure 69: Others: Aeroderivative Gas Turbine Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 70: Latin America: Aeroderivative Gas Turbine Market: Sales Value (in Million US$), 2018 & 2023
Figure 71: Latin America: Aeroderivative Gas Turbine Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 72: Brazil: Aeroderivative Gas Turbine Market: Sales Value (in Million US$), 2018 & 2023
Figure 73: Brazil: Aeroderivative Gas Turbine Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 74: Mexico: Aeroderivative Gas Turbine Market: Sales Value (in Million US$), 2018 & 2023
Figure 75: Mexico: Aeroderivative Gas Turbine Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 76: Others: Aeroderivative Gas Turbine Market: Sales Value (in Million US$), 2018 & 2023
Figure 77: Others: Aeroderivative Gas Turbine Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 78: Middle East and Africa: Aeroderivative Gas Turbine Market: Sales Value (in Million US$), 2018 & 2023
Figure 79: Middle East and Africa: Aeroderivative Gas Turbine Market: Breakup by Country (in %), 2023
Figure 80: Middle East and Africa: Aeroderivative Gas Turbine Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 81: Global: Aeroderivative Gas Turbine Industry: Drivers, Restraints, and Opportunities
Figure 82: Global: Aeroderivative Gas Turbine Industry: Value Chain Analysis
Figure 83: Global: Aeroderivative Gas Turbine Industry: Porter's Five Forces Analysis


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