The global gas turbine market is expected to reach $14.1 billion by value in 2018. The overall gas turbine market has increased in the last few years due to the increasing energy demand and falling gas turbine prices. Decline in the prices of natural gas has resulted in an increase in global supply of gas turbine with reduced cost of electricity which has further increased their attractiveness to investors and accelerated technological drive towards competitiveness with other fossil fuels and renewable electricity sources.
Lucintel, a leading global
Management Consulting and market research firm, has conducted a competitive analysis on the gas turbine market in the power industry and presents its findings in
“Growth Opportunities in Global Gas Turbine Market in Power Industry 2013-2018: Trend, Forecast, and Opportunity Analysis”. From the analysis presented, gas turbine manufacturers should be able to recognize where potentially valuable opportunities exist in the global gas turbine industry. Marketing strategies tailored to take advantage of these conditions, resulted in improved revenue and profitability.
The report highlights the major challenges faced by the industry. High lead time is one of the major challenges. The reason for the high lead time are transportation issues, heavy weight, complexity and the unavailability of specialty alloys such as nickel superalloy and super duplex steel. Natural gas turbines generate carbon, which pollutes the environment of many countries and environmental regulation requiring upgrades of inefficient gas turbine power plants.
The study also focuses on the key drivers. Decline in prices of natural gas has resulted in an increase in the global installations of natural gas-fired power plant which need gas turbine to generate electricity. Natural gas is the main fuel source of gas turbine but other fuels can be used to run the gas turbine i.e. diesel fuel, methane, crude, biogas etc. This gives an opportunity to the customer to switch fuels.
The regional differentiation in market value of turbine size of gas turbine market requires a proper analysis of the regional markets so as to recognize and understand the opportunities available in each region with all size of turbine.
For a detailed table of contents and pricing information on these timely, insightful reports, contact Lucintel at +1-972-636-5056 or via email at helpdesk@lucintel.com. Lucintel provides cutting-edge decision support services that facilitate critical decisions with greater speed, insight, and cost efficiency. To learn more, visit
www.lucintel.com.