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Aeroderivative gas turbines find wide application in various end-user segments, such as mobility power generation (primarily composed of marine and aeronautical applications); and oil and gas, food processing, paper and pulp, and chemical industries.
Research and Markets' "Global Aeroderivative Gas Turbine Market 2016-2020" covers the present scenario and the growth prospects of the global aeroderivative gas turbine market for 2016-2020. To calculate the market size, the report determines the installed capacity and price of gas turbines in various regions.
The market is divided into the following segments based on geography:
According to the report, one of the key drivers for market growth will be increased power-to-weight ratio of aeroderivative gas turbines. The power-to-weight ratio has been constantly improving for the last five decades. A 4,000% increase in the power-to-weight ratio has been registered since 1941. The US Navy, in the year 1941, designed the Iowa class battleships. These class battleships generated almost 212,000 shaft HP by utilizing a 4,443 tons steam plant. These figures translate into a power-to-weight ratio of 47.7 shp per ton. In current day scenario, four GE LM2500s or Rolls-Royce MT-30 gas turbines with machinery weight 118 tons can generate the same power output. The figures correspond to a power-to-weight ratio change from 47.7 shp per ton to 1,800 shp per ton. This is a significant reason for steam turbines to be increasingly replaced by gas turbines.
Further, the report states that the over-reliance on aeroderivative gas turbines for mobility and power generation is one of the main challenges faced by the growing global aeroderivative gas turbine market. This exposes consumers to the risk of volatility in natural gas prices. To safeguard power prices from price fluctuations, utilities always seek to maintain a balanced feedstock portfolio. However, in the present scenario, the reliance on natural gas is continuously increasing due to the rapid shift toward gas turbine and natural gas-driven power plants for cleaner modes of power generation and propulsion systems.
Key players in the global aeroderivative gas turbine market: GE, Mitsubishi Hitachi, Siemens, Vericor, and Zorya.