Introduction
Gas Turbine Upgrades for Performance Enhancement Market was valued at USD XX Billion in 2019 and is expected to rise to USD XX billion by 2025, at a CAGR of XX% from 2020-2025. It is the most used power generation technology right now as it uses internal combustion engine in which air fuel mixture is combusted to produce hot gas which is then used to rotate turbines to generate power. Continuous growth of power generation sector and with the emergence of various other sources of power generation drives the need of the enhancement of gas turbines. With the various stringent government regulation on the CO2 emissions on such types of engines has also put the necessities of its advancement as various of its users now prefers a gas turbine with lower emission. With the opening up of global market there is a dire sense of new technology which can meet the various demand of the end users has also driven the advancement in this sector. Some of the driving factors which are increasing its demand are greenhouse gas and carbon emission norms, cost effective operations, automation and digitalization, growing infrastructural need, etc.
Recent focus on renewable source of power generation and some stringent government regulations and norms regarding greenhouse gas and carbon emission are hindering the growth of its market.
Geographical Overview
At a global level, the Asia-Pacific region was holding the highest market share in 2019 with a share of more than 32%. Whereas Europe region is considered to be the fastest growing market with key players adopting expansion strategy in this region to gain maximum market share in the coming years. Key factors such as increase in power generation demand, easy to use and friendly technological implementations and preference of low carbon emitting gas turbines with greater efficiency are driving Gas Turbine Upgrades for Performance Market all around the world.
Segmental Overview
Gas Turbine Upgrades for Performance Enhancement Market is segmented as per below specifications
By Product Type:
• Comprehensive Upgrade
• Hot Section Coating
• Compressor Coating
• Inlet Air Fogging
By Application
• Simple Turbine Cycle
• Combined Turbine Cycle
Competitor Analysis
Gas Turbine Upgrades for Performance Enhancement Market has presence of some of the key major players across globe which includes
• General Electric
• Mitsubishi Heavy Industries
• Siemens AG
• Stellar Energy
• Mee Industries
• ENRGISTX
• Araner
• Integrated Turbine Systems
• Centrax
• Dresser-Rand
• B&B-Agema
These key players are concentrating its efforts on the continuous product improvement with innovative initiatives to have an edge over other competitors. Further, to garner maximum market share, companies are adopting merger/ acquisition/ partnership and maintaining strong distribution networks strategies.
By Geographical Locations:
• North America
o U.S.
o Canada
• Europe
o U.K.
o France
o Italy
o Germany
o Spain
o Russia & CIS
o Rest of Europe
• Asia-Pacific
o China
o India
o Japan
o South Korea
o ASEAN
o Rest of Asia Pacific
• Latin America
o Brazil
o Argentina
o Rest of LATAM
• Middle East & Africa
o UAE
o South Africa
o Rest of MEA
Highlights of the report
What is Gas Turbine Upgrades for Performance Enhancement Market?
Who all are key market players in the industry?
How the Parent Industry is growing?
Where are the key opportunities for new market entrant?
A comprehensive analysis, which covers key growth factors across the value chain
Recent developments in market
Granular Market Segmentation
Market size projection based on Historical & current market trends
Market share analysis and key strategies adopted by leading Players
Production Cost & Sensitivity Analysis
Country Level Market Analysis of Top 16 countries
Data Driven Decision Recommendations
