North America is expected to have the largest share of revenue over the forecast period owing to its large consumer base . It is followed by Europe . Asia Pacific is expected to grow rapidly over the forecast period owing to emerging economies in this region . Emerging economies such as India and china are expected to fuel growth of the industry China is expected to decrease its reliance on coal , and is increasing its focus on renewable installed capacity and gas , making it as a key market for gas turbines over the forecast period .
Gas power production in China is still at an introduction stage , but with development in the gas infrastructure it is expected to grow rapidly . India is also growing its focus on use of cleaner resources . Price sensitivity in this area is expected to hinder the growth over the forecast period . On the basis of power plant installed capacity this market can be segregated into 351-750 MW , 1 -120 MW , 121-350 MW and above 750 MW . On the basis of configuration this market can also be segregated into turbofan , turboprop , and turbojet and turbo shaft . On the basis of operations this market can be segregated into gas cycle , co-generation cycle and combined cycle . Gas cycle section is expected to have the largest share in terms of revenue over the forecast period owing to its very low operating cost and high efficiency .
Some of the key players in the market are Allison Engine Company , MTU Aero Engines , Snecma , Solar Turbines , Zorya-Mashproekt , Turbomeca , Siemens Energy Sectorm , International Aero Engines , Price Induction , Ruston , Avio , NYE Thermodynamics Corporation , Centrax Gas Turbines , Wood Group , Ansaldo Energia and Snecma and others . The market relevance is increasing day by day since the trend in energy consumption is increasing which indicates great market opportunity for gas turbines companies in this market . The major companies are expected to dominate the market over the forecast period owing to their continuous efforts intended to design and focus on new product development as per the increasing consumer demand .
Browse Full Research Report @ https :// www . millioninsights . com / industry-reports / gas-turbine-market
In the past few years , there have been a number of mergers and acquisitions where smaller enterprise is being taken over by multinational corporations and have been focusing research and development activities and thus increasing their core competencies . Most companies have direct sales and they try to network their sales representatives and distributors for balancing their sales . Companies in this market are trying their best to comply with regulations that have been demanded by their equipment consumers . Their end user varies from range of industry . This type of turbine is highly efficient in terms of emission regulations laid by the government . This market is expected to become highly competitive over the forecast period owing to the fact that this market is about to become totally innovation driven . Each company are focusing on developing efficient products by incorporating new technology .
Market Segment :