The demand for gas turbine compressors went through a negative phase amid the spread of Covid-19 crisis. The sales level in this market witnessed a downturn creating potential losses for the global manufacturers. As the condition is normalizing in 2021 due to strong and stringent government efforts, the top manufacturers are trying to recuperate the losses incurred through product diversifications and innovations.
Prominent manufacturers including Doosan Heavy Industries & Construction, Ansaldo Energia, Solar Turbines, Vericor Power Systems, General Electric Limited, Mitsubishi Limited, Sulzer AG and Siemens AG are focusing on product innovations and product certifications for ensuring improved varieties of turbine compressors to attract and retain the customers. The well-known manufacturers are adopting contracts and agreements, research & developments, technological advancements and mergers & acquisitions to maintain and strengthen their respective market shares globally.
For instance, General Electric has launched the latest evolution of its HA Gas Turbine to Power Florida Power and Light Company’s Dania Beach Facility on 2nd October, 2019. GE’s 7HA.03 is the world’s largestand most efficient and flexible gas turbine with the lowest cost conversion of gas to electricity for 60-hertz customers.
The 7HA.03 drives lower emissions than earlier versions of gas turbines. The 7HA.03 is a step forward for the industry as the largest, most efficient, having highest capacity with industry-leading flexibility. It provides greater capacity and efficiency offering 134 more megawatts than GE’s 7HA.02 gas turbine adding the equivalent electricity needed to power 100500 more US homes while increasing efficiency by 0.4 % more than 7HA.02 saving an estimated $ 0.9 M per year for US based power plant operators. The 7HA.03 gas turbine is an evolution of the company’s leading H-Class platformbased on GE’s proven HA architechture.
The ability to downturn to 30 % load while still in emissions compliance, when combined with an improved ramp rate of 75 megawatts per minute enhances power plant operator’sability to respond to grid conditions. The 7HA.03 offers substantial improvements in three key areas i.e., greater capacity & performance, enhanced flexibility and lower capital cost & installation time which is adding tremendous progress to its growth and market share.
In addition to that, Siemens AG launched most powerful HL- Class Gas Turbine callled ‘ SGT5-9000 HL Turbine’ on 15th May, 2020. The company planned to test the equipment for use in a combined cycle power plant. It can provide an opportunity of a test run of the equipment for 50-hertz market. The SGT5-9000 HL Turbine is a poweful, efficient and heavy-duty gas turbine which can travel up the humber and trent rivers for about 12 days before reaching the inland port of Keadby. The turbine will then be offloaded and transported to the construction site using a heavy ruler.
This new gas turbine compressor is loaded at Siemen’s factory in Berlin as it begins its journey to a new power plant in the UK. The SGT5-9000 gas turbine is an important milestone for the Keadby 2 project. The company is utilizing its digital service solutions including remote monitoring and diagnostics to help in maintaining availability, reliability and optimal performance. Such additions are helping the company to expand its global presence and market reach.
The Evolutions in Gas Turbine Compressor Sales
The gas turbine compressor market has witnessed a significant number of acquisitions among the leading suppliers operating in the global landscape of gas-based power turbines in the past half a decade. These acquisitions are redefining the future growth trajectory of the gas turbine compressor market. For instance, GE completed the acquisition of Alstom’s power and grid business unit which significantly impacted the regional as well as the global landscape of the gas turbine compressor market.
According to the recent scenario, while GE and Siemens are witnessing a downturn in terms of fewer numbers of their flagship energy products and services, both the giants are actively involved in restructuring business strategies. Siemens is expected to supply compressor trains for a gas pipeline expansion project in Canada
Globally, rising power demands have led to increased reliance on power generation applications such as industrial cogeneration, combined-cycle power generation services, and combined heat and power applications. This has fuelled the growth of the gas turbine compressor market. Further, the growing adoption of renewable energy resources and increased construction of renewable energy power plants are estimated to boost the progress of the gas turbine compressor market. As the number of natural gas vehicles proliferates, rising demand for gas turbines is likely to augur well for the growth of the gas turbine compressor market.
An ongoing research study by leading market research firm Fact.MR offers in-depth insights and analysis on gas turbine compressor market. The research report is a comprehensive source of information and analysis that offers stakeholders an unbiased and transparent perspective on the gas turbine compressor market.
The research report gives actionable intelligence on various facets of the gas turbine compressor market considering key global regions. Moreover, with historical data analysis, current and future data projections of the global gas turbine compressor market have been included in this insightful research report.
The forecast projections are for a ten-year period, starting from 2021-2031. Additionally, intelligence on various market participants have been covered in this analytical research report. Main aspects of these market participants such as product portfolio analysis, key strategies, SWOT analysis, market expansion plans, innovations and product developments, revenue shares, supply chain analysis, sales figures, mergers and acquisitions and future expansion plans along with key financial analysis have been covered in the competitive landscape section of the global gas turbine compressor market report.
Growth of Aerospace Industry to Trigger Demand for Gas Turbine Compressors
Aerospace sector has witnessed steady growth since past several years. Increasing investments in the defense and aerospace industry signifies high growth potential in the forthcoming years. With growing investments, this industry is expected to shift towards linear growth side, consequently creating significant growth opportunities across the supply chain, which consist of manufacturers, suppliers, dealers and vendors of gas turbine compressor market.
Governments in developed countries have initiated high investments in the respective aerospace sectors for both commercial aerospace and defense. According to International Air Transportation Association, demand for air travel in 2016 grew by 6.3 percent. This pushed the manufacturing of commercial aircrafts across regions. According to IATA, the manufacturing of large commercial aircrafts has risen in 2017 and is expected to grow in the coming year.
With respect to defense, investments in developing advanced aircrafts have triggered the adoption of gas turbine compressors.
Gas turbine compressors are an integral part of an aircraft that are used, along with fuel combustion, to propel the aircraft at higher speeds. Increasing investments in defense sector are expected to offer potential opportunities for gas turbine compressor manufacturers. Recently, President Donald Trump initiated an increase in the spending for defense of around US$ 25 Bn in 2017 and is looking forward to further increase it by 10% in 2018. This factor is expected to bode well for the overall aerospace industry, thus paving a huge growth platform for gas turbine compressors, pushing their sales in the coming years.
Participants in the global gas turbine compressor market are coming up with new innovations in their products. Several participants have filed patents for their products recently. For instance, in 2018, Siemens Aktiengesellschaft filed a patent for its new gas turbine arrangement that has a controlled bleed air injection system. Another for a compressor assembly for mass flow control in gas turbine has been initiated by the company. Such developments are expected to increase the scope of use of gas turbine compressors in various end use industries. Key market participants involved in the global gas turbine compressor market include Siemens Aktiengesellschaft , General Electric Company, Pratt & Whitney, Mitsubishi Hitachi Power Systems, Ltd., MAN Turbomachinery and Opra Turbines B.V.
The research report on global gas turbine compressor market includes analysis on various aspects such as trends, developments, drivers and opportunities that positively influence the growth of the global market. In addition, restraints and challenges that hinder the growth of the global gas turbine compressor market have also been included in this insightful research study. This research report offers a complete understanding about the market, its growth trajectory few years down the line as well as key insights on various market factors that can be used to gain hold over the market in the years to follow.
This analytical research study imparts an all-inclusive assessment on the market, while propounding historical intelligence, actionable insights, and industry-validated & statistically-upheld market forecast. Verified and suitable set of assumptions and methodology has been leveraged for developing this comprehensive study. Information and analysis on key market segments incorporated in the report has been delivered in weighted chapters. A thorough analysis has been offered by the report on
- Market Dynamics
- Market Size
- Market Segments
- Demand & Supply Trends
- Current Issues and Challenges
- Companies and Competitor Landscape
- Value Chain
Regional Segments Analyzed Include
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC, S. Africa, N. Africa)
Compilation of authentic and first-hand intelligence, insights offered in the report are based on quantitative and qualitative assessment by leading industry experts, and inputs from opinion leaders & industry participants around the value chain. Growth determinants, macroeconomic indicators, and parent market trends have been scrutinized and delivered, coupled with the market attractiveness for each market segment encompassed. Qualitative impact of growth influencers on the market segments across regions has also been mapped by the report.
Highlights from the Report
- Elaborated scenario of the parent market
- Transformations in the market dynamics
- Detailed segmentation of the target market
- Historical, current and forecast market size based on value and volume
- Latest industry developments and trends
- Competition landscape
- Strategies adopted by the market players and product developments made
- Potential and niche segments, along with their regional analysis
- Unbiased analysis on performance of the market
- Up-to-date and must-have intelligence for the market players to enhance and sustain their competitiveness
Fact.MR offers custom research services that help clients to get specific research solutions
We are committed towards customer satisfaction and quality service.