The Aeroderivative Gas Turbine Market is being driven by Decarbonization goals
The Aeroderivative Gas Turbine Market is expected to grow at a CAGR of 2.2% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 980.3 million. The aeroderivative gas turbine market is experiencing substantial growth, driven by technological innovations that boost efficiency and responsiveness. A prominent player in the peaking power solutions sector in the US has recently launched a new 48-MW aeroderivative gas turbine. This turbine is designed to swiftly address power supply and demand fluctuations, underscoring the industry's emphasis on agility and reliability. The turbine's innovative design incorporates an overhauled engine core derived from a reputable aircraft engine model, showcasing the integration of aerospace technology into power generation. This trend signifies the industry's focus on utilizing proven, high-performance components to deliver superior operational capabilities.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
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Report Coverage |
Details |
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Page number |
219 |
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Base year |
2024 |
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Historic period |
2019-2023 |
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Forecast period |
2025-2029 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 2.2% |
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Market growth 2025-2029 |
USD 980.3 million |
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Market structure |
fragmentation |
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YoY growth 2024-2025(%) |
2.1 |
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Key countries |
US, China, India, Japan, Germany, Canada, UK, South Korea, France, and Australia |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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The Aeroderivative Gas Turbine Market encompasses advanced technologies such as engine control units, fuel injection systems, and lubrication system designs, aiming for improved bearing life prediction. Compressor and turbine blade designs, along with the use of advanced materials, enhance performance optimization and operational reliability. Exhaust gas recirculation and heat recovery systems reduce emissions and improve efficiency. Vibration damping and noise reduction techniques ensure smooth operation. Condition-based maintenance, gas path sealing, and compressor and turbine aerodynamics optimize performance further. Combustor and fuel nozzle designs, ignition systems, exhaust system designs, inlet air filtration, engine installation, operational procedures, safety systems design, and environmental regulations are also integral components of this market.
The Aeroderivative Gas Turbine market is a significant segment of the global heavy electrical equipment industry, catering to power generation requirements in various sectors including energy, mining, oil and gas, and others. According to Technavio, the size of the global heavy electrical equipment market is determined by the consolidated revenue of manufacturers producing electrical components and heavy electrical equipment, such as compressor bleed air, electric cables, wires, and aeroderivative gas turbines. The market growth is influenced by several factors, including the increasing frequency of power outages due to natural disasters in regions like MEA, Europe, and APAC, which necessitate the need for more efficient and reliable power generation solutions. Aeroderivative gas turbines, with their high efficiency and adaptability, are well-positioned to meet this demand. The design of these engines allows for the extraction and utilization of compressor bleed air, enhancing overall efficiency and reducing fuel consumption. Thus, the market for aeroderivative gas turbines is poised for growth in the coming years.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
Jesse Maida
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