Gas Turbine Upgrades For Performance Enhancement Market to receive overwhelming hike in Revenues by 2026

Key players in the gas turbine upgrades for performance enhancement market are expected to benefit from the formation of strategic alliances with regional players in the gas turbine upgrades for performance enhancement market. Prominent players in the gas turbine upgrades for performance enhancement market are General Electric, MITSUBISHI HEAVY INDUSTRIES, LTD., Siemens AG, ENRGISTX, Mee Industries Inc., Stellar Energy, and others.

Planning to lay down strategy for the next few years? Our report can help shape your plan better

According to Transparency Market Research, the gas turbine upgrades for performance enhancement market was valued at US$13,242.4 Mn in 2016 and is projected to reach US$22,326.8 Mn by 2025, at a CAGR of 6.0% from 2017 to 2025.

By upgrade type, the gas turbine upgrades for performance enhancement market has been segregated into comprehensive upgrade, hot section coating, compressor coating, inlet air fogging, and other. By upgrade type, the comprehensive upgrade segment constituted 33% market share in 2016. Geographically, Asia Pacific is likely to constitute the dominant regional market for gas turbine upgrades for performance enhancement due to the rising need for energy in the region’s dynamic economies.

Are you a start-up willing to make it big in the business? Grab an exclusive sample of this report here

Continuous Growth of Power Generation Sector Drives Growth

Gas turbines, one of the most widely used power generating technologies in today’s world, are a common type of internal combustion engine that uses hot gases produced from combustion of the air-fuel mixture to rotate the turbine blades for generating the power. For several years, gas turbines have been used in the aerospace industry and other industries. Gas turbines can run on a variety of fuels such as fuel oil, synthetic fuel, and natural gas. With the emergence of renewable sources of energy and continuous growth of power generation and gas sectors, the need for advancements in existing gas turbines has emerged. However, the performance of gas turbines is restricted by the ambient temperature. The power output of gas turbines is inversely proportional to the ambient temperature, as the air flow rate decreases when the ambient temperature increases, which results in reduced power output from gas turbines. This is a key factor targeted by players operating in the gas turbine upgrades for performance enhancement market.

Increasing inlet air density or boosting the specific power of gas turbines is the key objective of most gas turbine upgrades for performance enhancement. A number of innovative solutions are being developed by OEMs, as the diverse array of end users of the gas turbine upgrades for performance enhancement market requires a corresponding diversity in turbine design and operation.

Get a PDF Brochure Detailing about the current size & value of the market with all other necessary information

Strict Environmental Norms Drive Growth of Turbine Upgrades for Performance Enhancement Market

Factors driving the demand for gas turbine upgrades for performance enhancement are stringent greenhouse gas (GHG) and carbon emission norms for gas turbines, the rising need for cost-effective operation, trends favoring automation and digitalization, growing infrastructural activities, etc. Increasing focus on the renewable energy sector hinders the growth of the market. However, there is an increase in demand for gas turbines in the power generation industry. Furthermore, stringent government norms regarding GHG emissions for gas turbines has driven end-users to shift toward gas turbines with low CO2 emission and better. This is anticipated to drive the market for gas turbine upgrades for performance enhancement during the forecast period.

About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.

Contact
Mr. Rohit Bhisey
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY – 12207
United States
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Email:sales@transparencymarketresearch.com
Website:
http://www.transparencymarketresearch.com
Research Blog:
http://www.europlat.org/

Previous post Containerized Solar Generators Market to receive overwhelming hike in Revenues by 2026
Next post In Pipe Hydro Systems Market to receive overwhelming hike in Revenues by 2026