SOURCE: MarketResearch.com

MarketResearch.com

August 24, 2010 09:08 ET

GE Leads the Gas Turbine Market With Over 40% Market Share

ROCKVILLE, MD--(Marketwire - August 24, 2010) -  MarketResearch.com has announced the addition of GlobalData's new report "Global Gas Turbine Market Analysis to 2020 - Market Size, Competitive Landscape, Trends and Analysis," to their collection of Energy market reports. For more information, visit http://www.marketresearch.com/product/display.asp?ProductID=2748954

Thermal energy is the most dominant source of energy used around the world for electricity generation. Hence, it also has a greater installed capacity when compared with any other source of energy. The global cumulative installed capacity for thermal energy as of 2000 was 2.5 million MW which increased to 3.7 million MW in 2009, representing a CAGR of 3.9% over this period. The future installed capacity is also expected to follow the same trend, with the total installed capacity expected to be around 5 million MW in 2020.

The growth clearly represents the dependence on this source of energy for power generation all over the world. Even with a rising population and increase in the demand for electricity every year, there have been challenges in shifting towards alternative sources of energy for power generation, because either they have been uneconomical or simply not sufficient enough to fulfill the requirements.

After the economic crisis last year, the global gas turbine market is currently in the revival phase. Very few countries were able to insulate themselves from the liquidity crunch that followed it. This resulted in a considerable decrease in the global gas turbine orders in the year 2009. The liquidity crunch that followed the subprime crisis resulted in absence of financing options for various projects. The lack of confidence of investors in projects resulted in the overall decline of the market. The global gas turbine market fell from $19,463.8m in 2007 to $10,727.4m in 2009. This slump clearly indicates the impact that the crisis had on the turbine market. However, the future of this market looks bright, with many projects scheduled to go live in future and many contracts undertaken in the gas turbine market.

Over the years there has been one organization that has dominated the global gas turbine market. General Electric (GE) leads all other firms in this market, consistently maintaining a market share of more than 40% for many consecutive years. The main reason for this has been its brand name and also the large portfolio of gas turbines that GE sells. It offers the widest range of heavy duty gas turbine in the market, ranging from 26 MW to 480 MW. It has a global installed fleet of more than 6,000 gas turbines: the largest installed base of any gas turbine supplier worldwide. GE has a strong presence in countries such as Saudi Arabia, Nigeria, Spain, Germany, South Africa and Taiwan.

Siemens is another leader in the gas turbine market. It has 14 gas turbine models with capacities ranging from 4 MW to 375 MW. America has been the major region from where Siemens gets the major part of its revenue and has sold around 501 units of gas turbine there as of 2009. It also has a major manufacturing hub in that region in Charlotte, North Carolina.

Other players in this market are Mitsubishi Heavy Industries Limited, Alstom SA, Bharat Heavy Electricals Limited (BHEL) and Rolls Royce Group.

For more information, visit http://www.marketresearch.com/product/display.asp?ProductID=2748954

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