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Gas Turbine Upgrades For Performance Enhancement Market Outlook and Growth Stance Forecasted Through 2025

Feb 8th 2019 at 3:51 AM

Looking at the current market trends as well as the promising demand status of the Gas Turbine Upgrades For Performance Enhancement Market, it can be projected that the future years will bring out positive outcomes. This research report added by MRRSE on its online portal delivers clear insight about the changing tendencies across the Global Gas Turbine Upgrades For Performance Enhancement Market. Readers can gather prime facets connected to the target market which includes product, end-use and application; assisting them to draw conclusions out of this intelligent research report.

Gas turbines are the most widely used power generating technology in today’s world. A gas turbine is a common type of internal combustion engine that uses hot gases produced from the combustion of air-fuel mixtures to rotate turbine blades for generating power. For several years, gas turbines have been used in the aerospace industry and other industries. Gas turbines can run on a variety of fuels such as fuel oil, synthetic fuel, and natural gas. Gas turbines consist of three primary components mounted on the same shaft: compressor, combustion chamber, and turbine. With the emergence of renewable sources of energy and continuous growth of power generation and gas sectors, the need for advancements in existing gas turbines has emerged. The performance of gas turbines is restricted by the ambient temperature, as the power output of gas turbines is inversely proportional to the ambient temperature. The air mass flow rate decreases when the ambient temperature increases, which results in reduced power output from gas turbines.

Upgrades of gas turbines are necessary to boost power and improve the heat rate of gas turbines, either by increasing their inlet air density or by boosting specific power. Innovative solutions are being carried out by OEMs to meet the requirements of various end-use customers due to the evolution of the electricity market, the changing environmental requirements and the globalization of the energy market. They also help reduce the overall environmental impact of a plant through lowered CO2 emissions.

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The global gas turbine upgrades for performance enhancement market is expected to exhibit a 6% CAGR between 2017 and 2025. The market was valued at US$13.9 bn in 2017 and is likely to rise to US$22.3 bn by 2025.

The study provides a decisive view of the global gas turbine upgrades for performance enhancement market by segmenting it in terms of upgrade type, turbine cycle, and region. These segments have been analyzed based on present and future trends. Regional segmentation includes the current and forecast demand for gas turbine upgrades for performance enhancement in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report also covers demand for individual end-user segments in all the regions.

The study includes profiles of major companies operating in the global gas turbine upgrades for performance enhancement market. Key players in the gas turbine upgrades for performance enhancement market include General Electric, MITSUBISHI HEAVY INDUSTRIES, LTD., Siemens AG, Stellar Energy, Mee Industries Inc., ENRGISTX, and others. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, recent developments, and SWOT analysis. The market for gas turbine upgrades for performance enhancement is primarily driven by stringent greenhouse gas (GHG) & carbon emission norms for gas turbine, cost-effective operation, automation and digitalization, growing infrastructural activities, low toxic emission and high operating speed, etc.

The report provides the estimated market size of gas turbine upgrades for performance enhancement for 2016 and forecast for the next nine years. The global market size of gas turbine upgrades for performance enhancement has been provided in terms of revenue. Market numbers have been estimated based on key upgrade type, turbine cycle, and regional segments of gas turbine upgrades for performance enhancement market. Market size and forecast for each major upgrade types and turbine cycle have been provided in terms of global and regional/country markets.

In order to compile the research report, we conducted in-depth interviews and discussions with a number of key industry participants and opinion leaders. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.

Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, and SEC filings, internal and external proprietary databases, and relevant patent and regulatory databases, national government documents, statistical databases, and market reports, news articles, press releases, and webcasts specific to companies operating in the market, National government documents, statistical databases, and market reports, UN Comtrade, National Energy Technology Laboratory (NETL), U.S. Department of Energy (DOE), Factiva, etc.

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Primary research involves e-mail interactions, telephonic interviews, and face-to-face interviews for each market, category, segment, and sub-segment across geographies. We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate the data and analysis. Primary interviews provide firsthand information on market size, market trends, growth trends, competitive landscape, and outlook, etc. These help validate and strengthen secondary research findings. These also help develop the analysis team’s expertise and market understanding.

The gas turbine upgrades for performance enhancement market has been segmented as follows:

Global Gas turbine upgrades for performance enhancement Market: By Turbine Cycle

Simple Cycle

Combined Cycle

Global Gas turbine upgrades for performance enhancement Market: By Upgrade Type

Comprehensive Upgrade

Hot Section Coating

Compressor Coating

Inlet Air Fogging

Evaporative Cooling

Fogging

Inlet Chilling

Others

Others

Global Gas turbine upgrades for performance enhancement Market: By Region/Country/Sub-region

North America

US

Canada

Europe

Germany

UK

Italy

Spain

France

Rest of Europe

Asia Pacific

China

Japan

India

ASEAN

Rest of Asia Pacific

Middle East & Africa

GCC

South Africa

Rest of Middle East & Africa

Latin America

Brazil

Mexico

Rest of Latin America

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