Middle East Gas Turbine Market size in 2017 was valued over USD 900 million and is projected to exceed an annual installation of 4 GW by 2024. Rising environmental concerns along with strict regulatory measures to curb GHG emissions have shifted focus toward the integration of efficient energy conservation initiatives. The key parameters for this development have been the restructuring across major power markets together with imperative technological advancements across the field of aerodynamics, materials, cooling and combustion. Henceforth, positive regulatory prospects coupled with increasing technological precision will augment the industry landscape.
Replacement of fossil fuel by renewable resources favored by ongoing deployment across the industry for small scale applications will favor the overall market share. However, across import dependent developing nations, particularly those without any directives on carbon or stringent pollution control reforms, these units face robust competition from existing conventional technologies. Although, ongoing technological advancements along with developing regulatory and consumer proximity in line with the installation of efficient turbine units will augment the business potential.
< 50 kW gas turbine market across Middle East is set to surpass an annual installation of over 70 MW by 2024. Ongoing development of co-generating units to sustain heat & energy consumption across small scale industrial, commercial and isolated T&D networks will escalate the technological implementation. Furthermore, ongoing development of efficient re-generative gas turbines to endure low heat requirements across these deployments will further positively influence the product demand.
Extensive R&D investment reforms and regulatory inclination toward efficient combined cycle generation plants will enhance the market size. For instance, European Investment Bank (EIB), in 2015, granted a USD 600 million loan to Egypt government to develop the 1,800 MW Damanhour Power Plant. In addition, regulators across the country have aligned their focus towards the upgradation of their existing combined cycle projects which in turn will fuel the product demand.
Effective environmental proximity, effecient waste heat utilization, lower operational cost, and operational efficiency are key factors which will propel the combined cycle Middle East gas turbine market. Rising industrial headway in line with growing demand for energy and stability in gas prices have established a favorable business landscape. Furthermore, overloading of ageing energy resources which include coal and hydro power along with government inclination toward energy conservation will further complement the overall industry dynamics.
Eminent players in the this market comprise Centrax ltd, MAPNA Turbine Engineering & Manufacturing Co. (TUGA), Siemens AG, General Electric, Wartsila, Toshiba, Solar Turbines, Ansaldo Energia, Capstone Turbine and Score Group plc.
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