The Global Gas Turbines Market Share, Trends, Analysis and Forecasts, 2020-2030 provides insights on key developments, business strategies, research & development activities, supply chain analysis, competitive landscape, and market composition analysis.
The Global Gas Turbines Market was valued at US$ 18 billion in 2019 and is expected to grow at a CAGR of 4% through 2030. Gas turbines are primarily used for power generation across the globe owing to high power generation capacity and operational efficiency delivered by gas turbines. Gas turbines are also used for generation of mechanical drive required for industrial applications across heavy industrial applications. Government initiatives to promote adoption of low carbon emitting power generation and declining price of shale are key factors contributing towards the growth of the global gas turbine market. Increased investment in development of captive power plants across expanding industrial infrastructure is expected to drive the growth of the global gas turbine market during the forecast period. However, the increased adoption of renewable power generation technologies across the globe is anticipated to impede the growth of the global gas turbine market during the forecast period.
