Sellbyville, Delaware, Nov. 28, 2018 (GLOBE NEWSWIRE) --
China industrial gas turbine market is poised to grow on account of favorable regulatory prospects towards the development of large-scale gas fired power projects and clean energy integration across the nation. Leading global manufacturers have aligned focus towards business expansion across the Chinese industry owing to the escalation in demand and favorable statutory regime. Siemens in 2018, fetched supply orders for its two H-class gas turbines & accessories for the CHD Guangzhou Zengcheng project.
Global Industrial Gas Turbine Market is projected to cross 20 GW by 2024, as reported in the latest study by Global Market Insights, Inc. The global market within the prevalent trade regime has positively been impacted with consumer & regulatory inclination towards energy optimization. Government mandates to curb emissions along with growing environmental concerns have plunged the integration of competitive energy conservation measures. Moreover, pivotal for the transformation has been the re-structuring across prime power markets leading to rapid technological enhancements. Thereby, the industry has witnessed a salient growth in the field of aerodynamics, materials, combustion, and cooling.
> 200 MW industrial gas turbine market is set to grow subject to large scale integration across power generation units, manufacturing plants, and associated process industries. The products are adept with potent fuel efficiency, environment proximity, & longer life cycle favored by competitive overall costs. Furthermore, ameliorate operational performance along with large capacity configuration and product flexibility, conceal long term cost associated issues which in turn will overall industry dynamics.
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The U.S. market is projected surpass an annual installation of 3 GW by 2024. Expansion of research and development (R&D) investment reforms along with shifting focus towards deployment of combined cycle generation systems will boost the product demand. As per the ICF International, turbines fabricated by the U.S. based manufacturers in 2016, contributed to over 70% of the operational natural gas-fired combined cycle projects across the nation.
Increasing turbine demand across process industries coupled with replacement of conventional fuel by sustainable resources across a cluster of small-scale industrial pursuits will thrust the market size. However, the products in the current scenario witness strong technological competition across import dependent developing markets, prominently those without a stringent mandate or reforms on carbon emission or air pollution. Moreover, perpetual technological proliferation along with evolving consumer & regulatory proximity will complement the overall business outlook.
Browse key industry insights spread across 334 pages with 498 market data tables & 38 figures & charts from the report, “Industrial Gas Turbines Market” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/industrial-gas-turbine-market
Lower operational costs, enhanced product efficiency, environmental proximity, coupled with sustainable waste heat utilization are few indispensable factors driving the combined cycle (CC) industrial gas turbine market. Resurgent industrial headway along with rising energy demand & the stabilization of gas prices have infused a favorable business framework. Moreover, overburdening of traditional energy resources including hydro power & coal in conjunction with regulatory inclination towards energy optimization will positively sway the industry dynamics.
Prominent market participants comprise of MAN Energy, Zorya-Mashproekt, Ansaldo Energia, UEC Saturn, Capstone Turbine, MHPS, Siemens, BHEL, Opra Turbines, Kawasaki, Wärtsilä, Vericor, Centrax, General Electric, and Solar Turbines.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.