Market Revenue Gas Turbine Market Methodology and Scope

Gas Turbine Market Methodology and Scope, Regulatory
Framework Forecast 2025
“Gas Turbine Market size was valued at USD 18.86 billion in 2015 and is
anticipated to reach USD 30.08 billion by 2025. Gas turbines are internal
combustion (IC) engines in which the warm gases produced.”
The global Gas Turbine Market size was valued at USD 18.86 billion in 2015 and is anticipated to reach USD
30.08 billion by 2025. Gas turbines are internal combustion (IC) engines in which the warm gases produced on
account of burning of an air-fuel mixture which then spins the blade of a turbine and creates power. This is a
whole cycle of exchanging waste heat into steam by heat recovery systems. The utilization of gas turbines was
initialized in 1939. Gas turbines are extensively used for power producing technologies. It can use a range of
fuels, including natural gas and oil synthetic fuels. Combustion happens endlessly in gas turbines, as contrasting
to reciprocating IC engines, in which combustion occurs sporadically.
This market is expected to be driven by a number of factors owing to, large number of incomplete projects and
advancements in the power generation sector along with the increasing demand for mobility services coupled
with industrial products. Gas is the cleanest fossil fuel, and is being used extensively to assist intermittent
production from renewable sources. Moreover, this industry faces some drawbacks, such as growing ecological
concerns and the policy restrictions on fossil-fuel using power plants coupled with growing renewable energies.
These reasons are expected to pose a challenge for the industry over the forecast period. On the basis of main
application of the market can be segregated into six sectors, which include oil & gas industry, mobility, power
generation, food processing, pulp and paper and petrochemicals and aircraft propulsion systems. Aircraft
propulsions systems are expected to generate maximum revenue over the forecast period. On the basis of
region this market can be segregated into Asia Pacific, North America, Europe and Rest of the World.
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