DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/gm9g3f/gas_turbines_for) has announced the addition of the "Gas Turbines for Thermal Power, 2014 Update - Global Market Size, Average Pricing, Equipment Segmentation and Competitive Landscape Analysis to 2020" report to their offering.
Global Gas Turbine Market Likely to Remain Stable during the Forecast Period
The global gas turbine market is expected to remain nearly stable in the future. Concerns over global warming and carbon emissions have led many countries to adopt stringent emissions regulations, encouraging the use of cleaner sources of power generation, such as natural gas. The majority of market revenue will come from the US, along with emerging economies in the Middle East, Africa and Asia. The latter will account for the majority of gas turbine revenue in the near future.
Many countries are decommissioning coal-fired power plants and encouraging the use of cleaner and more efficient fuels such as natural gas for power generation, in order to achieve climate targets, and reduce carbon emissions from power plants and reliance on coal. Governments around the world have implemented strict regulations to this end. In the EU, directives such as the Large Combustion Plant Directive (LCPD) and Industrial Emissions Directive (IED) have made it uneconomical for aging coal-fired power plants to continue operations. In the US, utilities retired almost 41.2 GW of coal-power capacity between 2009 and May 2012.
Even Asia has seen a stronger focus on cleaner resources, and new emissions norms in China are as stringent as those in the US. In order to comply with regulations, utilities are looking to gas power generation, particularly via Combined Cycle Gas Turbine (CCGT) plants, which have proved a fast and efficient long-term option for complying with emissions regulations. During 2007-2013, the gas turbine market recorded revenue of $79.2 billion. The global market was estimated at $11.19 billion in 2013.
China a Major Market for Gas Turbine installation
China needs to reduce its dependence on coal, and is increasing its focus on renewable installed capacity and gas, making it a major market for gas turbines in the forecast period. Gas power generation in China is still at a nascent stage, but with improvements in the gas infrastructure it has quickly grown, from 16.7 Gigawatts (GW) in 2007 to 43.8 GW in 2013, boosting the gas turbine market in this period. The gas infrastructure in the country will continue to improve, driving the market over the forecast period.
Key Topics Covered:
1 Tables & Figures
- Gas Turbines, Overview
3 Global Gas Turbine Market
- Global Gas Turbine Market, Drivers, 2014-2020
- Global Gas Turbine Market, Restraints, 2013-2020
2 Macroeconomic and Political Stability
- Global Gas Turbine Market, Revenue and Volume, 2007-2020
- Global Gas Turbine Market, Market Share, 2013
4 Global Gas Turbine Market, Major Countries
- China, Gas Turbine Market Analysis
- Indonesia, Gas Turbine Market
- Saudi Arabia, Gas Turbine Market
- India, Gas Turbine Market
- Germany, Gas Turbine Market
- UK, Gas Turbine Market
- US, Gas Turbine Market
- Brazil, Gas Turbine Market
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