Global Gas Turbines Market Anticipated to Grow at a CAGR of 3.65% during 2016-2024 from USD 16.84 Billion in 2016
According to Goldstein Research, global gas turbines market is expected to reach USD 22.43 billion by 2024 from USD 16.84 billion in 2016, growing at a CAGR of 3.65% over the forecast period 2016-2024. The increasing demand for hybrid or distributed power generation is fuelling the growth of global gas turbines market. Global gas turbines market segmentation has been done on the basis of technology, product type, rating capacity, applications, end user and geography. Based on product type, heavy-duty gas turbines is the dominating segment owing to its huge acceptance in high power generating plants and held over 78% of the global gas turbines market in 2016. Global gas turbines market is largely dominated by Asia Pacific which is projected to grow at a CAGR of 9.0% during the forecast period, owing to the increasing electricity demand in the region coupled with the rising number of energy projects to replace coal-based plants with renewable resource-based plants. Browse Full Repo...