Asia-Pacific Gas Turbine Market - Growth, Trends, and Forecast (2020-2025)

The market is segmented by Capacity (Less than 30 MW, 31-120 MW, Above 120 MW), Type (Combined Cycle, and Open Cycle), Application (Power, Oil & Gas and Other Industries), and Geography (China, Japan, India, and Rest of Asia-Pacific)

Market Snapshot

Study Period:

2018-2025

Base Year:

2019

CAGR:

3.5 %

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Market Overview

The Asia-Pacific gas turbine market is expected to grow at a CAGR of over 3.5% during the forecast period of 2020–2025. The Asia-Pacific gas turbine market is witnessing a significant growth driven by the increasing demand for natural gas-fired power plants, demand for liquefied natural gas (LNG) supplied through both pipelines and ships, rising demand for electricity, and targets to carbon dioxide emission reductions in major countries. However, increasing shift towards renewable energies such as solar and wind for power generation is expected to restrain the growth of the market in the coming years.

  • The power generation segment is expected to dominate the market in the forecast period, owing to the increasing demand for clean and efficient power across the globe.
  • Advancements in technology are crucial to reduce turbine costs and emissions, especially of combined cycle gas turbines, which will be the dominant gas-based technology for intermediate and base-load power generation in the near future. This, in turn, is expected to create significant opportunities in the gas turbine manufacturers in the coming years.
  • China is expected to dominate the market growth, owing to the factors like economic growth, increase in number of gas-based power generation plants.

Scope of the report

The Asia-Pacific gas turbine market report include:

Capacity
Less than 30 MW
31-120 MW
Above 120 MW
Type
Combined Cycle
Open Cycle
Application
Power
Oil & Gas
Other Industries
Geography
China
Japan
India
Rest of Asia-Pacific

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Key Market Trends

The Power Generation Segment is Expected to Dominate the Market

  • The demand for electricity is growing due to urbanization and industrialization. Gas turbines are used in an open cycle and combined cycle plants. Combined cycle power plants are more efficient than steam turbines as they generate more power.
  • Gas turbines are used in utilities for baseload standby power and peak load applications. The power generated from combined cycle power plants have lower carbon dioxide emissions and governments are implementing stricter norms on such emissions. Thus, an increase in the demand for natural gas power plants will lead to the growth of the power generation segment.
  • The overall electrical efficiency of a combined-cycle power system is typically in the range of 50–60% — a substantial improvement over the efficiency of a simple, open-cycle application of around 33%.

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China to Dominate the Market

  • Factors such as the growth in demand for electricity fuelled by high levels of urbanization, industrialization, and infrastructural developments and subsequent investments in developing new large gas-fired combined cycle power generation is expected to spur the demand for gas turbines.
  • China gas turbine market is anticipated to grow owing to the positive clean energy outlook coupled with ongoing expansion of large capacity gas fired power plants across the nation.
  • Leading manufacturers have aligned their focus toward business expansion across the China industry. In 2018, Siemens fetched orders to supply two H-class gas turbines and associated components for the CCHP project of CHD Guangzhou Zengcheng.

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Competitive Landscape

The Asia-Pacific gas turbine market is moderately consolidated. Some of the major companies are General Electric Company, Siemens AG, Mitsubishi Heavy Industries Ltd, Kawasaki Heavy Industries Ltd, and Ansaldo Energia SpA.

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Scope of the Study

    2. 1.2 Market Definition

    3. 1.3 Study Assumptions

  2. 2. EXECUTIVE SUMMARY

  3. 3. RESEARCH METHODOLOGY

  4. 4. MARKET OVERVIEW

    1. 4.1 Introduction

    2. 4.2 Market Size and Demand Forecast in USD billion, till 2025

    3. 4.3 Recent Trends and Developments

    4. 4.4 Government Policies and Regulations

  5. 5. MARKET DYNAMICS

    1. 5.1 Drivers

    2. 5.2 Restraints

  6. 6. Supply Chain Analysis

  7. 7. Porter's Five Forces Analysis

    1. 7.1 Bargaining Power of Suppliers

    2. 7.2 Bargaining Power of Consumers

    3. 7.3 Threat of New Entrants

    4. 7.4 Threat of Substitutes Products and Services

    5. 7.5 Intensity of Competitive Rivalry

  8. 8. MARKET SEGMENTATION

    1. 8.1 Capacity

      1. 8.1.1 Less than 30 MW

      2. 8.1.2 31-120 MW

      3. 8.1.3 Above 120 MW

    2. 8.2 Type

      1. 8.2.1 Combined Cycle

      2. 8.2.2 Open Cycle

    3. 8.3 Application

      1. 8.3.1 Power

      2. 8.3.2 Oil & Gas

      3. 8.3.3 Other Industries

    4. 8.4 Geography

      1. 8.4.1 China

      2. 8.4.2 Japan

      3. 8.4.3 India

      4. 8.4.4 Rest of Asia-Pacific

  9. 9. COMPETITIVE LANDSCAPE

    1. 9.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 9.2 Strategies Adopted by Leading Players

  10. *List Not Exhaustive
  11. 10. Company Profiles

    1. 10.1 General Electric Company

    2. 10.2 Mitsubishi Heavy Industries Ltd

    3. 10.3 Siemens AG

    4. 10.4 Kawasaki Heavy Industries Ltd

    5. 10.5 Ansaldo Gas Turbine Technology Co. Ltd

    6. 10.6 Harbin Electric Co Ltd

    7. 10.7 Bharat Heavy Electricals Limited

    8. 10.8 Opra Turbines BV

    9. 10.9 Capstone Turbine Corporation

  12. 11. MARKET OPPORTUNITIES AND FUTURE TRENDS

** Subject to Availability

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