Asia Pacific Gas Turbine Market size is projected to show tremendous growth between 2020 and 2026 on account of increasing emphasis toward distributed power generation and optimization of energy. Large scale integration of renewable energy sources along with rising concerns toward limiting greenhouse emissions will foster the business landscape. Surging regulatory focus toward the integration of advance monitoring & control technologies to upgrade their existing energy channels will positively sway the industry scenario.
< 50 kW capacity segment is estimated to grow substantially through 2026 owing to their increasing applicability across processed industries and small scale power plants. Ongoing development of co-generating units to resist energy along with heat consumption across industrial sectors and isolated grid networks will complement the product adoption. Moreover, surging deployment of on-site energy generation systems across static power applications will favor the business scenario.
The aero-derivative segment will witness substantial growth till 2026 due to growing integration of regenerative turbines across district heating facilities and increasing investments toward sustainable energy generation plants. Wide scale utilization across grid stability, utility generation, marine propulsion and mobile power will fuel the product demand. The product offers key benefits including high turbo-machinery efficiency, better cooling blades and enhanced turbine inlet temperature, accelerating the industry potential.
Open cycle combustion turbine market is set to witness significant growth from 2020 to 2026 owing to increasing energy demand across offshore establishments and flourishing aircraft industry. Compact size, operational versatility and lower warm up time & quick start are the key factors escalating the product penetration. Offshore and onshore industries found diverse applicability of these units across direct and mechanical drive which in turn will propel the market scenario. The Covid-19 has impacted the industry by increasing constructional project’s timelines and pipelines which may delay the overall business growth due to interruption in ongoing gas turbine projects and restricted manufacturing facilities across the region.
Japan gas turbine industry is anticipated to rise notable CAGR during the forecast period on account of the ongoing expansion of huge capacity gas-fired power plants and growing renewable energy integration. Increasing focus toward CCGT power technology along with growing adoption of gas-powered engines across drilling & extraction techniques will stimulate the product demand. Rising requirements to replace aging coal-fired power plants in order to alleviate the emissions coupled with ongoing restructuring of electrical infrastructure will augment the business landscape.
Manufacturers are focusing on building partnerships, M&A coupled with joint ventures by which they embrace to strengthen their competitive advantage. Key players operation across the Asia Pacific gas turbine market include General Electric, Siemens, BHEL, Wartsila, Mitsubishi Power, Kawasaki Heavy Industries, Harbin Electric Machinery Company, Ansaldo Energia, OPRA Turbines, Capstone Green Energy Corporation and VERICOR.