Gas Turbine Market Applications, Dynamics, Growth Area and
Outlook Forecast To 2025
“This market is expected to be driven by a number of factors owing to, large
number of incomplete projects and advancements in the power generation
sector along with the increasing demand for mobility services coupled with
industrial products.”
The global Gas Turbine Market size is expected to reach USD 30.08 billion by 2025, registering a 4.8% CAGR over
the forecast period. Gas turbines are internal combustion (IC) engines in which the warm gases produced on
account of burning of an air-fuel mixture which then spins the blade of a turbine and creates power. This is a
whole cycle of exchanging waste heat into steam by heat recovery systems. The utilization of gas turbines was
initialized in 1939. Gas turbines are extensively used for power producing technologies. It can use a range of
fuels, including natural gas and oil synthetic fuels. Combustion happens endlessly in gas turbines, as contrasting
to reciprocating IC engines, in which combustion occurs sporadically.
This market is expected to be driven by a number of factors owing to, large number of incomplete projects and
advancements in the power generation sector along with the increasing demand for mobility services coupled
with industrial products. Gas is the cleanest fossil fuel, and is being used extensively to assist intermittent
production from renewable sources. Moreover, this industry faces some drawbacks, such as growing ecological
concerns and the policy restrictions on fossil-fuel using power plants coupled with growing renewable energies.
These reasons are expected to pose a challenge for the industry over the forecast period.
On the basis of main application of the market can be segregated into six sectors, which include oil & gas
industry, mobility, power generation, food processing, pulp and paper and petrochemicals and aircraft
propulsion systems.
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