Gas Turbine Market Analysis, Size and Share to 2020

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Gas turbines are a type of Internal Combustion (IC) engine in which the hot gases generated due to burning of an air-fuel mixture spin the blades of a turbine to produce power. The combined cycle beginning with conversion of waste heat into steam by heat recovery steam generators and usage of the resultant steam by steam turbine generators to increase power efficiency are the workhouses in the power generation industry. No solitary source is capable of meeting global power requirements; however, gas turbines are increasingly being used in many schemes to achieve better efficiency and reliability in power projects. Jet engines, scale jet engines, auxiliary power units, industrial gas turbines for power generation, radial gas turbines, amateur gas turbines, compressed air energy storage, micro turbines, turboprop engines, aeroderative gas turbines, industrial gas turbines for mechanical drive and turboshaft engines and are the primary types of gas turbines. Key application areas include engines used in cars, bikes, buses, trains, tanks, naval ships, etc.

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Industry growth in the last few years has been driven by a steep increase in energy demand coupled with falling gas turbine and natural gas prices which has attracted investors towards this market. Compatibility with other fuels apart from natural gas such as methane, diesel fuel, biogas, crude, etc., gives an opportunity to buyers to switch fuels. The market is also characterized by initiatives to install new gas turbines as the old ones require more maintenance and repairs. Gas turbines possess a higher power-to-weight ratio as compared to reciprocating engines. They are also smaller than most of the reciprocative engines of the same power rating. Additionally, they have fewer moving parts in comparison with reciprocating engines. Furthermore, advantages such as low operating pressures, high operation speeds and low lubricating oil consumption are expected to boost the market growth. High lead time is among the major restraints to the growth of this market. Issues such as heavy weight, time required for transportation, structural complexity and the unavailability of specialty alloys contribute towards high lead time. Furthermore, natural gas turbines generate carbon that causes air pollution, and environmental regulations in many countries require constant upgrades of inefficient gas turbine power plants. Constant plant operations also cause noise pollution which is not desirable and can give rise to side effects such as deafness. Gas turbines also face some shortcomings such as high cost, lesser efficiency at idle speed, longer start-up time, low responsiveness to changes in power demand and presence of an uncontrollable characteristic whine. Key vendors include Siemens, General Electric, Alstom, MHI and Turbomeca among others.

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