Asia Pacific Gas Turbine Market - Forecasts from 2020 to 2025

January 2020 | 99 pages | ID: A18ED9D64F5FEN
Knowledge Sourcing Intelligence LLP

Abstracts

The Asia Pacific (APAC) gas turbine market is estimated to grow from US$4.878 billion in 2019 to US$6.268 billion by 2025, at a CAGR of 6.12% over the forecast period. During the past few years, there has been exponential growth with regards to the gas turbine market. This is because of the technological progress that has effectuated the design and development of highly efficient gas turbine units for varied capacity. This class of equipment finds its application in a variety of spaces. To name a few, supersonic wind tunnels, advanced gas lasers, jet engines as well as mechanical drives that are used on drive, land, sea or air. Gas turbines are increasingly being used in power generation plants for their huge power generation capacity. It also most sought after due to its compactness, flexibility, operational compatibility, and high performance. Its unique characteristics of having multiple fuel capability is another aspect that makes it a great choice for power generation. The application of gas turbines in aerospace which is inclusive of but not limited to jets, turbofans, turbojets as well as turboprops. Thus, such a wide range of applications is poised to project the growth of the APAC gas turbine market.

Recent Market Developments

Considering the market developments of gas turbines in the APAC region, a notable among many is the construction of a high-efficiency HL-class power island for a new combined cycle power plant (CCPP) in South Korea, that would be set up by Siemens. This was announced in November 2019. The end-user of this plant is independent power producer Yeoju Energy Services. The Yeoju plant can accommodate two gas turbines among others. The two gas turbines are of the model SGT6-9000HL. This model is an up-gradation of the SGT-8000H series of gas turbines. The plant is set to be commissioned in 2022.

Earlier in July 2018, Siemens and State Power Investment Corp. (SPIC) of China entered into a Memorandum of Understanding (MoU) in Berlin, Germany in the presence of German Federal Chancellor Angela Merkel and Chinese Premier Le Keqiang to further confirm the intention of technology collaboration in the field of heavy-duty gas turbines. Being one of the world’s most prominent markets for large gas turbines and China is slated to make huge investments in large gas turbine technology. This MoU is symbiotic and would bring help in the convergence of Siemens’ technological leadership and China’s vast experience in the Chinese market.

In January 2020, Doosan Heavy Industries & Construction (DHIC) announced it has signed an agreement with Korea Western Power Co. (KOWEPO) to supply a gas turbine to the Gimpo Combined Heat & Power (CHP) Plant. The power plant will be located at Gimpo city of the Gyeonggi Province. The large gas turbines have been successfully developed in-house since the process of development commenced in 2013 by DHIC. This joint effort has been carried out to promote the domestic gas turbine industry and its subsequent growth. Further being in line with the 8th Basic Plan for Electricity Supply & Demand, that was announced by The Ministry of Trade, Industry, and Energy, Government of South Korea.

Therefore, from the events leading to 2020, it could be delineated that there has been a surge in transactions pertaining to gas turbines. This newfound interest not only includes the aspirations of the various governments to be self-sufficient in energy generation but also their inclination to heavily invest in research and development in large gas turbine design and development. Both aforesaid aspects have fueled the gas turbine market in this region and are projected to drive the APAC gas turbine market during the forecast period as well.

Segmentation:

• By Type
• Gas Cycle
• Combined Cycle
• Cogeneration
• By Power Rating
• <100 MW
• >100 MV- <300 MV
• >300 MW
• By Application
• Power Generation
• Oil & Gas
• Others
• By Technology
• Heavy Duty
• Light Industrial
• Aero-derivative
• By Geography
• Japan
• China
• India
• Australia
• Others

Contents

1. INTRODUCTION

1.1. Market Definition
1.2. Market Segmentation

2. RESEARCH METHODOLOGY

2.1. Research Data
2.2. Assumptions

3. EXECUTIVE SUMMARY

3.1. Research Highlights

4. MARKET DYNAMICS

4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
  4.3.1. Bargaining Power of Suppliers
  4.3.2. Bargaining Power of Buyers
  4.3.3. Threat of New Entrants
  4.3.4. Threat of Substitutes
  4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis

5. ASIA PACIFIC GAS TURBINE MARKET ANALYSIS, BY TYPE

5.1. Introduction
5.2. Gas Cycle
5.3. Combined Cycle
5.4. Cogeneration
5.5. Others

6. ASIA PACIFIC GAS TURBINE MARKET ANALYSIS, BY POWER RATING

6.1. Introduction
6.2. <100 MW
6.3. >100 MV- <300 MV
6.4. >300 MV

7. ASIA PACIFIC GAS TURBINE MARKET ANALYSIS, BY APPLICATION

7.1. Introduction
7.2. Power Generation
7.3. Oil & Gas
7.4. Others

8. ASIA PACIFIC GAS TURBINE MARKET ANALYSIS, BY TECHNOLOGY

8.1. Introduction
8.2. Heavy Duty
8.3. Light Industrial
8.4. Aero-derivative

9. ASIA PACIFIC GAS TURBINES MARKET ANALYSIS, BY GEOGRAPHY

9.1. Introduction
9.2. Japan
  9.2.1. Japan Gas Turbines Market, By Type, 2019 to 2025
  9.2.2. Japan Gas Turbines Market, By Power Rating, 2019 to 2025
  9.2.3. Japan Gas Turbines Market, By Application, 2019 to 2025
  9.2.4. Japan Gas Turbines Market, By Technology, 2019 to 2025
9.3. China
  9.3.1. China Gas Turbines Market, By Type, 2019 to 2025
  9.3.2. China Gas Turbines Market, By Power Rating, 2019 to 2025
  9.3.3. China Gas Turbines Market, By Application, 2019 to 2025
  9.3.4. China Gas Turbines Market, By Technology, 2019 to 2025
9.4. India
  9.4.1. India Gas Turbines Market, By Type, 2019 to 2025
  9.4.2. India Gas Turbines Market, By Power Rating, 2019 to 2025
  9.4.3. India Gas Turbines Market, By Application, 2019 to 2025
  9.4.4. India Gas Turbines Market, By Technology, 2019 to 2025
9.5. Australia
  9.5.1. Australia Gas Turbines Market, By Type, 2019 to 2025
  9.5.2. Australia Gas Turbines Market, By Power Rating, 2019 to 2025
  9.5.3. Australia Gas Turbines Market, By Application, 2019 to 2025
  9.5.4. Australia Gas Turbines Market, By Technology, 2019 to 2025
9.6. Others
  9.6.1. Others Gas Turbines Market, By Type, 2019 to 2025
  9.6.2. Others Gas Turbines Market, By Power Rating, 2019 to 2025
  9.6.3. Others Gas Turbines Market, By Application, 2019 to 2025
  9.6.4. Others Gas Turbines Market, By Technology, 2019 to 2025

10. COMPETITIVE ENVIRONMENT AND ANALYSIS

10.1. Major Players and Strategy Analysis
10.2. Emerging Players and Market Lucrativeness
10.3. Mergers, Acquisitions, Agreements, and Collaborations
10.4. Vendor Competitiveness Matrix

11. COMPANY PROFILES

11.1. General Electric
11.2. Siemens AG
11.3. Mitsubishi Heavy Industries Ltd
11.4. Man Diesel and Turbo SE
11.5. Solar Turbines Inc.
11.6. Kawasaki Heavy Industries Ltd
11.7. Ansaldo Energia S.p.A
11.8. ABB