Global Aeroderivative Gas Turbine Market Research Report 2020-2024
The global Aeroderivative Gas Turbine market was estimated at USD$ 2.09 billion in 2016, and is anticipated to reach USD$ 2.58 billion by 2021, expanding at a CAGR of 4.3% between 2017 and 2021. Growing focus towards the capability enhancement of aviation and maritime defense forces will drive the aeroderivative gas turbine market. Light weight, small carbon footprint, high cycle flexibility and short downtime for maintenance are some of the salient features which makes it preferable over other available alternatives.
Aeroderivative gas turbine market for over 18 MW will see strong growth owing to growing applications across power generation and O&G industries. In 2017, GE launched LM9000 and NovaLT12 technology which helps in delivering safe, precise, and flexible energy supply to upstream and midstream operations.
Combined cycle aeroderivative gas turbine market for 2015 was over 5 GW and looks set to see handsome growth. Rising acceptance across cogeneration electricity generating stations owing to its fast start and cycling capabilities will complement the business outlook.
The rise in the use of alternative fuels will be one of the major trends that will gain traction in the aeroderivative gas turbine market in the coming years. The cost of gas turbine fuel amounts to almost 80% of the overall power generation cost, which will compel the usage of several other less expensive liquid fuels and gasses such as biofuels and synthetic gas to power aeroderivative gas turbines.
Aeroderivative gas turbines are lighter versions of gas turbines that are specifically used in the aerospace sector. These gas turbines are designed in such a way so that the fuel and air are mixed and subsequently ignited to attain the desired outcome. Since their inception, aeroderivative gas turbines have found extensive application in power generation. They were the first gas turbines that were used for the generation of electricity when aircraft engines were adopted for stationary power use. The major characteristic of an aeroderivative gas turbine is its low mass and high efficiency. These engines are formulated to be airborne, which necessitates lightweightness regarding aircraft performance, efficiency and load carrying capacity. The manufacturers use advanced materials in designing aeroderivative engines to minimize their weight and makes them more thermodynamically effective in operations.
In this report, the global Aeroderivative Gas Turbine market is valued at USD XX million in 2020 and is projected to reach USD XX million by the end of 2024, growing at a CAGR of XX% during the period 2020 to 2024.
The report firstly introduced the Aeroderivative Gas Turbine basics: definitions, classifications, applications and market overview; product specifications; manufacturing processes; cost structures, raw materials and so on. Then it analyzed the world’s main region market conditions, including the product price, profit, capacity, production, supply, demand and market growth rate and forecast etc. In the end, the report introduced new project SWOT analysis, investment feasibility analysis, and investment return analysis.
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