Gas Turbine Market to Grow Substantially at USD 30.08 billion by 2025: Radiant Insights, Inc
“The global gas turbine market demand was over 60,000MW in 2015 and is expected to grow at an estimated CAGR of 4.3% from 2016 to 2025.�
The global gas turbine market size is expected to reach USD 30.08 billion by 2025, according to a new report by Grand View Research, Inc. The increasing availability of natural gas for power generation, expanding oil & gas industry, awareness regarding flexible resources for energy production based on renewable energy sources are some of the key factors expected to play a significant role in propelling the global demand. Even though the demand for natural gas as a fuel for new capacity additions is fast catching up, its limited availability is expected to pose a significant challenge. Geopolitical issues are another major factor, which is likely to affect the natural gas supply. Turbines with capacity ?200 MW are likely to maintain the highest market share due to rising demand for flexible power generating units and rapidly growing oil & gas industry. Easily available financing prospects for small power plants are another factor supporting the growth of low capacity turbines. Read Complete Report with TOC @ http://www.radiantinsights.com/research/gasturbine-market
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