Gas Turbines Market Analysis By Technology, Design Type, Rating Capacity, Applications, Region, Company, Competition, Forecast and Opportunities, 2027
According to TechSci Research, Global gas turbines market is anticipated to grow during the forecast period, due to the increasing focus on reducing carbon footprint and low prices of shale gas. Moreover, increasing trend of the distributed power generation and government initiatives to increase electricity generation based on natural gas are propelling the growth of the market. Based on the technology, the combined cycle technology dominated the market in 2020 and is expected to witness significant growth during the forecast period due to the use of waste heat energy to produce additional electricity with the assistance of steam turbines. Based on the design type, the market has been segmented into heavy duty and aero derivative. Owing to the rising demand for large gas fired power plants, the demand for heavy duty design is likely to increase in the future. In terms of regional analysis, Asia Pacific acquired the dominant share in 2020 and the trend is expected to continue in t...