North American Gas Turbine Market size is anticipated to grow exponentially from 2020 to 2026, according to a latest forecast report by Graphical Research.
North America industry growth is owing to growing efforts toward power optimization along with ongoing shift toward installation of renewable sources. Rapid technological advancements along with rising focus toward distributed power generation systems will drive the market growth. Favorable government policies and schemes to enhance the renewable energy mix will foster the market expansion.
< 50 kW gas turbines subject to their wide-ranging applications across small scale power plants and process industries is projected to gain an appreciable escalation in the years to come. Ongoing expansion of co-generating units to withstand energy as well as heat consumption across isolated grid networks, commercial, industrial sectors and will enhance the technological adoption. In addition, ongoing advancements with respect to the development of effective re-generative gas turbines to sustain low heat requirements across these establishments will stimulate the market demand.
Ability of open cycle gas turbines to provide lower warm up time, compact size, light weight, operational versatility, quick start, and lower dependency on cooling water will drive the technology adoption. Across land-based industries, these units find wide applicability across direct and mechanical drive applications. Furthermore, power generation applications extended to offshore platforms along with deployment across aircrafts where minimizing weight is a major focus pose potential demand for simple cycle gas turbines.
Browse detailed statistical insights from the report, “North America Gas Turbine Market Size By Product (Aero-Derivative, Heavy Duty), By Capacity (< 50 KW, 50 KW to 500 KW, > 500 KW to 1 MW, > 1 MW to 30 MW, > 30 MW to 70 MW, > 70 MW to 200 MW, > 200 MW), By Technology (Open Cycle, Combined Cycle), By Application (Power Plants, Oil & Gas, Process plants, Aviation, Marine), Research Report, Country Outlook, Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2020 – 2026” along with the table of contents (ToC) @
Rapid industrialization along with stringent energy efficiency mandates have compelled industries to deploy effective power generating systems. Furthermore, government reforms to curtail emissions along with stalling of gas prices in the current industrial regime will enhance the technological adoption. Increasing demand for manufactured goods led to the development and refurbishment of new and existing manufacturing and processing plants which in turn will result in expansion of self-regulated power generating plants.
The Canada gas turbine market is predicted to witness a significant growth through 2026 on account of rising focus toward combined cycle gas turbine power plant capacity additions. Rising need to replace aging coal-fired power plants to alleviate the emissions will propel the industry growth in North America. Stringent regulations on emissions have compelled utilities to enhance their focus on clean power generation thereby substituting the inefficient coal-fired power plants by gas-fired power plants.
The North American gas turbine market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilotons & revenue in USD Million from 2015 to 2026 for the following segments:
North America Market, By Capacity
- < 50 kW
- 50 kW to 500 kW
- > 500 kW to 1 MW
- > 1 MW to 30 MW
- >30 MW to 70 MW
- > 70 MW to 200 MW
- > 200 MW
North America Market, By Product
- Heavy Duty
North America Market, By Technology
- Open Cycle
- Combined Cycle
North America Market, By Application
- Power Plants
- Oil & Gas
- Process Plants
The above information has been provided for the following countries: