Gas Turbine Market to Grow Substantially at USD 30.08 billion by 2025 : Radiant Insights , Inc
“ The global gas turbine market demand was over 60,000MW in 2015 and is expected to grow at an estimated CAGR of 4.3 % from 2016 to 2025 .”
The global gas turbine market size is expected to reach USD 30.08 billion by 2025 , according to a new report by Grand View Research , Inc . The increasing availability of natural gas for power generation , expanding oil & gas industry , awareness regarding flexible resources for energy production based on renewable energy sources are some of the key factors expected to play a significant role in propelling the global demand .
Even though the demand for natural gas as a fuel for new capacity additions is fast catching up , its limited availability is expected to pose a significant challenge . Geopolitical issues are another major factor , which is likely to affect the natural gas supply .
Turbines with capacity ? 200 MW are likely to maintain the highest market share due to rising demand for flexible power generating units and rapidly growing oil & gas industry . Easily available financing prospects for small power plants are another factor supporting the growth of low capacity turbines .
Read Complete Report with TOC @ http :// www . radiantinsights . com / research / gasturbine-market
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