Global Gas Turbines Market Size and Forecast to 2025
According to Verified Market Intelligence, The Global Gas Turbines Market was valued at USD 16.92 billion in 2016 and is projected to reach USD 22.90 billion by 2025, growing at a CAGR of 3.42% from 2017 to 2025. A Gas Turbine is an internal combustion engine that converts natural gas or other liquid fuels into mechanical energy. The energy produced is then used to drive a generator that in turn produces electrical energy. Benefits of using gas turbines include – lower operational cost, efficient and durable, facilitates distributed power generation, environmentally-friendly, and high operational speed and low lubrication cost.
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A gas turbine is defined as an internal combustion engine that uses mechanical energy to convert natural gases into another form of liquid fuels. This results in the production of energy that is used to drive the generator that later produces electrical energy. Various benefits are offered by gas turbines such as efficient and durability, low operational costs, high operational speed and environment friendly. Thus, these benefits contribute to the growth of gas turbines market The rise in demand for natural gas-fired power plants, growing demand for electricity, reduced level of carbon dioxide emission has been driving the global gas turbines market. While natural gas price fluctuations and concerns associated with natural gas infrastructure might hinder the overall growth at a global level. The “Global Gas Turbines Market� study report will provide a valuable insight with an emphasis on the global market including some of the major players such as BHEL, MAN Diesel &Turbo, Niigata Power Systems, Motor Sich, OPRA technologies, and Solar Turbines. .Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis.