The gas turbine is a combustion engine that is used for generating electric current. It is a vital component of any power plant. Mechanical energy is produced by gas turbine which is generated with the help of natural gas or other fuels. This mechanical energy powers the generator to produce electricity. Generally, heavy duty gas turbines convert mechanical energy into electrical energy. The primary function of heavy duty gas turbines is to generate. They generate electrical power, which is distributed along power lines to businesses and home. Electrical power generated by heavy duty gas turbines is the traditional and a significantly clean form of energy, with low levels of CO2 emission. The use of modern and traditional gas turbines have increased significantly over the years for power generation.

The heavy duty gas turbine electrical power generation market can be segmented based on type of power generating fuel, application, and region. Based on type of power generating fuel, the heavy duty gas turbine market can be segmented into oil, gas, kerosene, diesel, and others. Based upon the requirement of electricity, heavy duty gas turbines are used in various industries such as oil & gas, aeronautical, locomotive, and defense.

Major drivers of using heavy duty gas turbine exhibits long lifetime in providing efficient energy generation. Heavy duty gas turbines provide efficient energy output with better efficiency gains. A main advantage of using heavy duty gas turbines for electrical power generation is the ability of the gas turbines to be functional on and off in less time and supply of power during peak. Advancements and technological developments are driving the reduction in manufacturing costs and improvement in output efficiency of the heavy duty gas turbines. They can be utilized as backup for electrical power generation during emergencies.

Restrains of using heavy duty gas turbines are slow speed of functioning as compared to aero derivative gas turbines. Heavy duty industrial gas turbines require more space for components (especially combustor plants). Maintenance and repairing of the equipment consumes physical efforts and time. Heavy duty gas turbines consume more fuel as compared to aero derivative gas turbines. Heavy duty gas turbines requires sufficient availability of space and are inefficient in the offshore setup.

Heavy duty gas turbines can be utilized in harsh environments such as arid deserts and cold countries. Countries such as China, India, Japan, and Singapore are leading contributors to the heavy duty gas turbine market for energy generation in Asia Pacific due to the increase in demand for electricity and power generation for the purpose of developing smart cities in these countries. North America is an emerging market for heavy duty gas turbines for electrical power generation due to the newly discovered oil & gas fields. U.S government are planning to redevelop and refurbish its infrastructural plans. In Europe, demand for heavy duty gas turbines are anticipated to increase in countries such as the U.K., Germany, and France, due to the increase in industrialization.

Key players operating in the heavy duty gas turbine market include Siemens AG, Doosan Heavy Industries, General Electric, Rolls Royce, and Mitsubishi Power Systems Europe Ltd.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players 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.

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Heavy Duty Gas Turbine Market

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