Gas Turbine Industry is expected to restore its impetus in the near future
Gas Turbine Industry Overview The global gas turbine market size is projected to reach USD 38.80 billion by 2030, registering a CAGR of 6.2% over the forecast period, according to a new report by Grand View Research, Inc. Supportive policies majorly determine the increasing demand for gas turbines in developing markets, such as Combined Heat and Power (CHP) support scheme executed by Germany. Gas Turbine Market Segmentation Grand View Research has segmented the gas turbine market based on technology, capacity, end-use, and region: Based on the Technology Insights, the market is segmented into Open Cycle and Combined Cycle. The combined cycle turbines sector accounted for the largest revenue share of more than 72.0% in 2021 and is anticipated to continue its dominance in the near future. This technology category is expected to increase at a faster rate in the coming years. Strict regulations for coal plants, low gas prices, and the integration ...