+1-518-618-1030 866 - 552 - 3453 USA-Canada Toll Free

Combined Cycle Gas Turbine Market - Global Industry Analysis, Size, Share, Trends, Growth, and Forecast 2016 - 2024

Pre Book Price: $ 5216

Original Price: $ 5795

A combined cycle power plant uses a gas as well as an auxiliary steam turbine to improve its overall efficiency, with the former being the primary power generator and the latter recovering the exhaust gas heat. Individually, gas turbine and steam turbine power plants have an average efficiency between 25 % and 40 %, depending on their fuel source and capacity. However, when installed in combination, it increases to 60%. In terms of capacity, fuel, and number of turbines, the combined cycle power plant can have several configurations such as: 1×1 (one gas turbine, one steam turbine), 2×1 (two gas turbines, one steam turbine), 3×1 (three gas turbines, one steam turbine), and sometimes even 4×1 (four gas turbines, one steam turbine).

The increasing number of laws and regulations on carbon footprint, CO2 & CO emissions, NOx emissions, and other particulate matter has compelled power generation companies to adopt systems such as combined cycle gas turbines and renewable energy. However, while the average cost of renewable energy varies from US$ 1500/kw to US$ 3000/kw, that of power generated from combined cycle gas turbines is US$ 500/kw to US$ 800/kw. Also, the average life span of renewable energy power plants is only 20 years, whereas combined cycle gas turbine plants live for 30. Therefore, the latter are a more efficient, economic, and durable option. 

Combined cycle gas turbines also possess the capacity and flexibility to cope with discrepancies in power demands through the day. Furthermore, growing awareness about the need to develop better alternatives and accessories and the subsequent advancing technology are expected to propel the combined cycle gas turbine market. The usage of cleaner fuels such as natural gas to reduce emissions will also increase the adoption of this configuration in future. 

The combined gas turbine market is divided into two segments based on design: heavy duty gas turbines (widely used for commercial power generation) and aeroderivative gas turbines. The latter are relatively compact and smaller in size and are employed in applications where space constraints are high and power requirements low. Based on geography, the market can be split into: North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America and Asia Pacific are currently as also expected to remain the major markets, because of the growing population and industrialization in China and India leading to a monumental surge in power requirements in this region, as well as the regulations on emissions due to global issues such as global warming and climate change in Europe and North America. 

There is healthy competition among key market players to increase the efficiency of combined cycle gas turbines beyond the 61% mark by designing and developing gas turbines & steam turbines with better materials, fuel types, and accessories. Leading companies include General Electric, Siemens, Kawasaki Heavy Industries, Mitsubishi Hitachi Power Systems (MHPS), Doosan Heavy Industries & Construction Co Ltd., and Solar Turbines.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market  
     

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

 


Note : All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Transparency Market Research.


To receive discount, please click on the button below.

Please click on the button below to customize this report.

 
 
Back To Top