Research and Markets: The Global Gas Turbine Market Expected to Reach $14.1 Billion by Value in 2018

Business Wire

DUBLIN--(BUSINESS WIRE)--

Research and Markets (http://www.researchandmarkets.com/research/j69thm/growth) has announced the addition of the "Growth Opportunities in Global Gas Turbine Market in Power Industry 2013-2018: Trends, Forecast and Opportunity Analysis" report to their offering.

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.

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.

Companies Mentioned:

- Alstom

- General Electric

- MHI

- Siemens

For more information visit http://www.researchandmarkets.com/research/j69thm/growth

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Sector: Utilities
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