(EMAILWIRE.COM, May 04, 2023 ) As per Maximize Market research, the Gas Turbine Market was USD 18.9 Bn in 2021 and is expected to grow at a CAGR of 3.6 percent over the forecast period to reach USD 25.08 Bn by 2029.

Gas Turbine Market Report Scope and Research Methodology

The report provides a thorough analysis of region-wise and segment-wise analysis of the Gas Turbine Market size and share. The data for the report is collected by using both primary and secondary collection techniques for the analysis of the Gas Turbine industry. SWOT is used to identify the threats and weakness of the Gas Turbine market.

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Gas Turbine Market Dynamics

The Gas Turbine Market is driven by the increasing demand for efficient turbines, rising investment in research and development by manufacturers, growth in the aviation industry, increasing consumption of electricity and rapid technological advancements in the energy sector. The market is restrained by the volatility in natural gas prices.

Gas Turbine Market Regional Insights

In 2021, the Asia Pacific dominated the Gas Turbine Market with the largest market share and is expected to grow at a significant CAGR during the forecast period.

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Gas Turbine Market Segmentation

By Type
Heavy Duty
Aeroderivative

By Application
Power generation
Oil & gas
Aerospace
Process plants
others

By Technology
Open cycle
Combined cycle

By Power Rating
Below 40
40-120
120-300
Above 300

Gas Turbine Market Key Competitors include:

Kawasaki heavy industries ltd
Siemens Energy
Mitsubishi Heavy Industries
Centrax Gas Turbine
MAN Energy Solutions
Rolls-Royce plc
Electric Machinery
Harbin Electric Machinery Company Limited
Nanjing Turbine
Opra Turbine
IHI Corporation
Solar Turbine
MAPNA Group
Zorya Mashproekt

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Maximize Market Research is leading Engineering Equipment research firm, has also published the following reports:

Gas Turbine Services Market- The market size is expected to reach USD 20.62 Bn by 2029 at a CAGR of 4.90 percent during the forecast period.

Industrial Gas Turbine Market- The Market size is expected to reach USD 14 Bn by 2029 at a CAGR of 6 percent during the forecast period.

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