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Gas Turbine Upgrades for Performance Enhancement Market

Gas Turbine Upgrades for Performance Enhancement Market

Global Industry Analysis (2018 - 2021), Growth Trends, and Market Forecast (2022 - 2029)

Published Date: Oct 2022 | Format: | No. of Pages: 160

Industry: Energy & Natural Resources | Author Name: Harshad


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Research reveals that the global gas turbine upgrades for performance enhancement market recorded the estimated revenue of over US$17 Bn in 2022 and is all set for a CAGR of 5.8%, exceeding US$25.3 Bn toward the end of 2029.

Growing Demand for Gas Turbines in Power Generation to Facilitate Growth of Gas Turbine Upgrades for Performance Enhancement Market

Upgrades of gas turbines are necessary to boost power and improve the heat rate of gas turbines, either by increasing their inlet air density or by boosting specific power. Major OEMs are innovating new technologies to upgrade the existing gas turbines for independent power producers (IPPs), and utilities. This, in turn, is anticipated to drive the growth of gas turbine upgrades for performance enhancement market during the forecast period. Growth in demand for gas turbine upgrades for performance enhancement is driven by rising demand for power generation, simple cycle power plant to combined cycle power plant upgrades, upgrades of aging fleet, stringent industrial CO2 regulations. Demand for gas turbine upgrades to enhance the performance and efficiency of a plant has been rising due to the increase in number of combined cycle power plants and rising awareness about the benefits of technological intervention among end users. Furthermore, higher adoption of gas turbine upgrades in new power plants is estimated to present new opportunities in the gas turbine upgrades for performance enhancement market.

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Rise in urbanization and industrialization across the globe is driving the demand for electricity. Electricity consumption is projected to increase significantly for another two decades. The global power generation industry has expanded considerably over the last decade and plays a major role in economic growth. Furthermore, increasing spending on improving residential, commercial, and industrial infrastructure along with energy conservation initiatives are expected to propel the power generation industry during the forecast period. The power generation industry is a major end-user of gas turbines. Expansion of the power generation industry is projected to propel the performance of gas turbine upgrades for performance enhancement market significantly during the forecast period. Rise in number of gas turbine installations for combined cycle plants, along with the up upgrade of current gas turbine fleet is anticipated to fuel the growth of the market. Increasing awareness about GHG emissions and the need to reduce carbon footprint has led OEMs to upgrade the performance of gas turbines, with the latest developments, to meet demands for clean energy and reduce the overall environmental impact through lowered CO2 emission. This is expected to augment the market for gas turbine upgrades.

Gas Turbine Upgrades for Performance Enhancement Market Analysis Indicates Strong Growth in Upgradation of Combine Cycle Gas Turbines

Based on turbine cycle, the gas turbine upgrades for performance enhancement market has been segmented into simple cycle, and combined cycle. In 2021, combined cycle gas turbine dominated the global gas turbine upgrades for performance enhancement market and constituted more than 65% share. Comprehensive upgrades of simple cycle and combined cycle gas turbines is basically the upgrading into more advanced design through modern technologies which enhances the overall output. A combined cycle power plant uses both a gas and a steam turbine together to produce up to 52% more electricity from the same fuel than a traditional simple cycle turbine-based power plant. Several end-user industries of gas turbines are upgrading the existing simple cycle gas turbine to combined cycle to attain better power output and thermal efficiency. Combined cycle gas turbine (CCGT) plants can achieve thermal efficiency of around 54% in base-load operation when compared to thermal efficiency of 35-45% of simple cycle gas turbines (SCGT).

Comprehensive Upgrade to Lead in Demand in Global Gas Turbine Upgrades for Performance Enhancement Market

In terms of upgrades type, gas turbine upgrades for performance enhancement market has been segregated into comprehensive upgrades, hot section coating, compressor coating, and inlet air fogging, and others. In 2021, comprehensive upgrades segment dominated the global gas turbine upgrades for performance enhancement market and constituted 34% share followed by air inlet fogging. Comprehensive upgrade deals with replacement of flange-to-flange parts such as rotor, casting, compressor blades and stator, piping & auxiliaries, inlet filter house, etc. Comprehensive upgrade of exiting and outdated gas turbines is the most lucrative market. Comprehensive upgrades involve proper inspection of several gas turbine parts and fixtures which is needed to be replaced with advanced technology before any breakdown/shutdown. Government regulations related to the minimisation of carbon emissions have spurred investments in upgrading outdated gas turbines. However, the investment costs involved in a comprehensive upgrade of existing gas turbines is way higher when compared to other types of upgrades.

Europe’s Gas Turbine Upgrades for Performance Enhancement Market to Witness Momentous Growth

Currently, Asia Pacific dominates the global gas turbine upgrades for performance enhancement market and constituted 32% share. In Asia Pacific, Comprehensive upgrades are more performance centric as compared to other types of upgrades, i.e., inlet air fogging, compressor coating, etc. China houses numerous small- and large-scale gas turbine upgrades and service providers. Therefore, the cost of gas turbine upgrades is comparatively low in China as compared to other countries across the globe. In Europe, impacts due to Russia-Ukraine conflict has resulted in power shortage. Gazprom halted more than 30% supply of natural gas to Germany citing reasons for turbine repair & maintenance. This has resulted in reactivation of old coal-fired power plants in Germany to remain self-sufficient in terms of power generation. Re-opening of stand-by coal-fired power plants is expected to drive the demand for repair and maintenance activities of old gas turbines followed by performance upgrades in the next few years.

Global Gas Turbine Upgrades for Performance Enhancement Market: Competitive Landscape

The top three players constitute more than 60% of the Global gas turbine upgrades for performance enhancement market. Some of the key players in the gas turbine upgrades for performance enhancement market include GE, Mitsubishi Heavy Industries, Ltd., Siemens AG, Toshiba Corporation, ABB Ltd., Dresser-Rand, Centrax Ltd., Stellar Energy, ENRGISTX, and Mee Industries Inc.

The Global Gas Turbine Upgrades for Performance Enhancement Market is Segmented as Below:

By Turbine Cycle Coverage        

  • Simple Cycle
  • Combined Cycle

By Upgrade Type Coverage       

  • Comprehensive Upgrades
  • Hot Section Coating
  • Compressor Coating
  • Inlet Air Fogging
  • Others

By Geographical Coverage         

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • Italy
    • UK
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Nigeria
    • Rest of Middle East & Africa

Leading Companies   

  • GE
  • Mitsubishi Heavy Industries, Ltd.
  • Siemens AG
  • Toshiba Corporation
  • ABB Ltd.
  • Dresser-Rand
  • Centrax Ltd.
  • Stellar Energy
  • ENRGISTX
  • Mee Industries Inc.
  • B&B-AGEMA GmbH

Inside This Report You Will Find:

1. Executive Summary
2. Market Overview
3. Price Trends Analysis 
4. Global Gas Turbine Upgrades for Performance Enhancement Market Outlook, 2018 - 2029
5. North America Gas Turbine Upgrades for Performance Enhancement Market Outlook, 2018 - 2029
6. Europe Gas Turbine Upgrades for Performance Enhancement Market Outlook, 2018 - 2029
7. Asia Pacific Gas Turbine Upgrades for Performance Enhancement Market Outlook, 2018 - 2029
8. Middle East & Africa Gas Turbine Upgrades for Performance Enhancement Market Outlook, 2018 - 2029
9. Latin America Gas Turbine Upgrades for Performance Enhancement Market Outlook, 2018 - 2029
10. Competitive Landscape
11. Appendix

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1. Executive Summary
     1.1. Global Gas Turbine Upgrades for Performance Enhancement Market Snapshot
     1.2. Future Projections
     1.3. Key Market Trends
     1.4. Analyst Recommendations

2. Market Overview
     2.1. Market Definitions and Segmentations
     2.2. Market Dynamics
            2.2.1. Drivers
            2.2.2. Restraints
            2.2.3. Market Opportunities
     2.3. Value Chain Analysis
     2.4. Porter’s Five Forces Analysis
     2.5. Covid-19 Impact
            2.5.1. Supply Chain
            2.5.2. Raw Materials Impact Analysis

3. Price Trends Analysis
     3.1. Key Highlights

4. Global Gas Turbine Upgrades for Performance Enhancement Market Outlook, 2018-2029
     4.1. Global Gas Turbine Upgrades for Performance Enhancement Market Outlook, by Turbine Cycle, Value (US$ Mn), 2018-2029
            4.1.1. Key Highlights
                    4.1.1.1. Simple Cycle
                    4.1.1.2. Combined Cycle
            4.1.2. BPS Analysis/Market Attractiveness/Comparison Matrix Analysis, by Turbine Cycle
     4.2. Global Gas Turbine Upgrades for Performance Enhancement Market Outlook, by Upgrade Type, Value (US$ Mn), 2018-2029
            4.2.1. Key Highlights
                    4.2.1.1. Comprehensive Upgrades
                    4.2.1.2. Hot Section Coating
                    4.2.1.3. Compressor Coating
                    4.2.1.4. Inlet Air Fogging
                    4.2.1.5. Others
            4.2.2. BPS Analysis/Market Attractiveness/Comparison Matrix Analysis, by Upgrade Type
     4.3. Global Gas Turbine Upgrades for Performance Enhancement Market Outlook, by Region, Value (US$ Mn), 2018-2029
            4.3.1. Key Highlights
                    4.3.1.1. North America
                    4.3.1.2. Europe
                    4.3.1.3. Asia Pacific
                    4.3.1.4. Rest of the World (RoW)
            4.3.2. BPS Analysis/Market Attractiveness Analysis, by Region

5. North America Gas Turbine Upgrades for Performance Enhancement Market Outlook, 2018-2029
     5.1. North America Gas Turbine Upgrades for Performance Enhancement Market Outlook, by Turbine Cycle, Value (US$ Mn), 2018-2029
            5.1.1. Key Highlights
                    5.1.1.1. Simple Cycle
                    5.1.1.2. Combined Cycle
            5.1.2. Comparison Matrix Analysis, by Type
     5.2. North America Gas Turbine Upgrades for Performance Enhancement Market Outlook, by Upgrade Type, Value (US$ Mn), 2018-2029
            5.2.1. Key Highlights
                    5.2.1.1. Comprehensive Upgrades
                    5.2.1.2. Hot Section Coating
                    5.2.1.3. Compressor Coating
                    5.2.1.4. Inlet Air Fogging
                    5.2.1.5. Others
            5.2.2. Comparison Matrix Analysis, by Upgrade Type
     5.3. North America Gas Turbine Upgrades for Performance Enhancement Market Outlook, by Country, Value (US$ Mn), 2018-2029
            5.3.1. Key Highlights
                    5.3.1.1. U.S. Gas Turbine Upgrades for Performance Enhancement Market by Turbine Cycle, Value (US$ Mn), 2018-2029
                    5.3.1.2. U.S. Gas Turbine Upgrades for Performance Enhancement Market by Upgrade Type, Value (US$ Mn), 2018-2029
                    5.3.1.3. Canada Gas Turbine Upgrades for Performance Enhancement Market by Turbine Cycle, Value (US$ Mn), 2018-2029
                    5.3.1.4. Canada Gas Turbine Upgrades for Performance Enhancement Market by Upgrade Type, Value (US$ Mn), 2018-2029
            5.3.2. Comparison Matrix Analysis, by Type and Upgrade Type

6. Europe Gas Turbine Upgrades for Performance Enhancement Market Outlook, 2018-2029
     6.1. Europe Gas Turbine Upgrades for Performance Enhancement Market Outlook, by Turbine Cycle, Value (US$ Mn), 2018-2029
            6.1.1. Key Highlights
                    6.1.1.1. Simple Cycle
                    6.1.1.2. Combined Cycle
            6.1.2. Comparison Matrix Analysis, by Type
     6.2. Europe Gas Turbine Upgrades for Performance Enhancement Market Outlook, by Upgrade Type, Value (US$ Mn), 2018-2029
            6.2.1. Key Highlights
                    6.2.1.1. Comprehensive Upgrades
                    6.2.1.2. Hot Section Coating
                    6.2.1.3. Compressor Coating
                    6.2.1.4. Inlet Air Fogging
                    6.2.1.5. Others
            6.2.2. Comparison Matrix Analysis, by Upgrade Type
     6.3. Europe Gas Turbine Upgrades for Performance Enhancement Market Outlook, by Country, Value (US$ Mn), 2018-2029
            6.3.1. Key Highlights
                    6.3.1.1. Germany Gas Turbine Upgrades for Performance Enhancement Market by Turbine Cycle, Value (US$ Mn), 2018-2029
                    6.3.1.2. Germany Gas Turbine Upgrades for Performance Enhancement Market by Upgrade Type, Value (US$ Mn), 2018-2029
                    6.3.1.3. Italy Gas Turbine Upgrades for Performance Enhancement Market by Turbine Cycle, Value (US$ Mn), 2018-2029
                    6.3.1.4. Italy Gas Turbine Upgrades for Performance Enhancement Market by Upgrade Type, Value (US$ Mn), 2018-2029
                    6.3.1.5. U.K. Gas Turbine Upgrades for Performance Enhancement Market by Turbine Cycle, Value (US$ Mn), 2018-2029
                    6.3.1.6. U.K. Gas Turbine Upgrades for Performance Enhancement Market by Upgrade Type, Value (US$ Mn), 2018-2029
                    6.3.1.7. Rest of Europe Gas Turbine Upgrades for Performance Enhancement Market by Turbine Cycle, Value (US$ Mn), 2018-2029
                    6.3.1.8. Rest of Europe Gas Turbine Upgrades for Performance Enhancement Market by Upgrade Type, Value (US$ Mn), 2018-2029

7. Asia Pacific Gas Turbine Upgrades for Performance Enhancement Market Outlook, 2018-2029
     7.1. Asia Pacific Gas Turbine Upgrades for Performance Enhancement Market Outlook, by Turbine Cycle, Value (US$ Mn), 2018-2029
            7.1.1. Key Highlights
                    7.1.1.1. Simple Cycle
                    7.1.1.2. Combined Cycle
            7.1.2. Comparison Matrix Analysis, by Type
     7.2. Asia Pacific Gas Turbine Upgrades for Performance Enhancement Market Outlook, by Upgrade Type, Value (US$ Mn), 2018-2029
            7.2.1. Key Highlights
                    7.2.1.1. Comprehensive Upgrades
                    7.2.1.2. Hot Section Coating
                    7.2.1.3. Compressor Coating
                    7.2.1.4. Inlet Air Fogging
                    7.2.1.5. Others
            7.2.2. Comparison Matrix Analysis, by Upgrade Type
     7.3. Asia Pacific Gas Turbine Upgrades for Performance Enhancement Market Outlook, by Country, Value (US$ Mn), 2018-2029
            7.3.1. Key Highlights
                    7.3.1.1. China Gas Turbine Upgrades for Performance Enhancement Market by Turbine Cycle, Value (US$ Mn), 2018-2029
                    7.3.1.2. China Gas Turbine Upgrades for Performance Enhancement Market by Upgrade Type, Value (US$ Mn), 2018-2029
                    7.3.1.3. Japan Gas Turbine Upgrades for Performance Enhancement Market by Turbine Cycle, Value (US$ Mn), 2018-2029
                    7.3.1.4. Japan Gas Turbine Upgrades for Performance Enhancement Market by Upgrade Type, Value (US$ Mn), 2018-2029
                    7.3.1.5. India Gas Turbine Upgrades for Performance Enhancement Market by Turbine Cycle, Value (US$ Mn), 2018-2029
                    7.3.1.6. India Gas Turbine Upgrades for Performance Enhancement Market by Upgrade Type, Value (US$ Mn), 2018-2029
                    7.3.1.7. ASEAN Gas Turbine Upgrades for Performance Enhancement Market by Turbine Cycle, Value (US$ Mn), 2018-2029
                    7.3.1.8. ASEAN Gas Turbine Upgrades for Performance Enhancement Market by Upgrade Type, Value (US$ Mn), 2018-2029
                    7.3.1.9. Rest of Asia Pacific Gas Turbine Upgrades for Performance Enhancement Market by Turbine Cycle, Value (US$ Mn), 2018-2029
                    7.3.1.10. Rest of Asia Pacific Gas Turbine Upgrades for Performance Enhancement Market by Upgrade Type, Value (US$ Mn), 2018-2029

8. Middle East & Africa Gas Turbine Upgrades for Performance Enhancement Market Outlook, 2018-2029
     8.1. Middle East & Africa Gas Turbine Upgrades for Performance Enhancement Market Outlook, by Turbine Cycle, Value (US$ Mn), 2018-2029
            8.1.1. Key Highlights
                    8.1.1.1. Simple Cycle
                    8.1.1.2. Combined Cycle
            8.1.2. Comparison Matrix Analysis, by Type
     8.2. Middle East & Africa Gas Turbine Upgrades for Performance Enhancement Market Outlook, by Upgrade Type, Value (US$ Mn), 2018-2029
            8.2.1. Key Highlights
                    8.2.1.1. Comprehensive Upgrades
                    8.2.1.2. Hot Section Coating
                    8.2.1.3. Compressor Coating
                    8.2.1.4. Inlet Air Fogging
                    8.2.1.5. Others
            8.2.2. Comparison Matrix Analysis, by Upgrade Type
     8.3. Middle East & Africa Gas Turbine Upgrades for Performance Enhancement Market Outlook, by Country, Value (US$ Mn), 2018-2029
            8.3.1. Key Highlights
                    8.3.1.1. GCC Gas Turbine Upgrades for Performance Enhancement Market by Turbine Cycle, Value (US$ Mn), 2018-2029
                    8.3.1.2. GCC Gas Turbine Upgrades for Performance Enhancement Market by Upgrade Type, Value (US$ Mn), 2018-2029
                    8.3.1.3. South Africa Gas Turbine Upgrades for Performance Enhancement Market by Turbine Cycle, Value (US$ Mn), 2018-2029
                    8.3.1.4. South Africa Gas Turbine Upgrades for Performance Enhancement Market by Upgrade Type, Value (US$ Mn), 2018-2029
                    8.3.1.5. Nigeria Gas Turbine Upgrades for Performance Enhancement Market by Turbine Cycle, Value (US$ Mn), 2018-2029
                    8.3.1.6. Nigeria Gas Turbine Upgrades for Performance Enhancement Market by Upgrade Type, Value (US$ Mn), 2018-2029
                    8.3.1.7. Rest of Middle East & Africa Gas Turbine Upgrades for Performance Enhancement Market by Turbine Cycle, Value (US$ Mn), 2018-2029
                    8.3.1.8. Rest of Middle East & Africa Gas Turbine Upgrades for Performance Enhancement Market by Upgrade Type, Value (US$ Mn), 2018-2029South Korea

9. Latin America Gas Turbine Upgrades for Performance Enhancement Market Outlook, 2018-2029
     9.1. Latin America Gas Turbine Upgrades for Performance Enhancement Market Outlook, by Turbine Cycle, Value (US$ Mn), 2018-2029
            9.1.1. Key Highlights
                    9.1.1.1. Simple Cycle
                    9.1.1.2. Combined Cycle
            9.1.2. Comparison Matrix Analysis, by Type
     9.2. Latin America Gas Turbine Upgrades for Performance Enhancement Market Outlook, by Upgrade Type, Value (US$ Mn), 2018-2029
            9.2.1. Key Highlights
                    9.2.1.1. Comprehensive Upgrades
                    9.2.1.2. Hot Section Coating
                    9.2.1.3. Compressor Coating
                    9.2.1.4. Inlet Air Fogging
                    9.2.1.5. Others
            9.2.2. Comparison Matrix Analysis, by Upgrade Type
     9.3. Latin America Gas Turbine Upgrades for Performance Enhancement Market Outlook, by Country, Value (US$ Mn), 2018-2029
            9.3.1. Key Highlights
                    9.3.1.1. Brazil Gas Turbine Upgrades for Performance Enhancement Market by Turbine Cycle, Value (US$ Mn), 2018-2029
                    9.3.1.2. Brazil Gas Turbine Upgrades for Performance Enhancement Market by Upgrade Type, Value (US$ Mn), 2018-2029
                    9.3.1.3. Argentina Gas Turbine Upgrades for Performance Enhancement Market by Turbine Cycle, Value (US$ Mn), 2018-2029
                    9.3.1.4. Argentina Gas Turbine Upgrades for Performance Enhancement Market by Upgrade Type, Value (US$ Mn), 2018-2029
                    9.3.1.5. Mexico Gas Turbine Upgrades for Performance Enhancement Market by Turbine Cycle, Value (US$ Mn), 2018-2029
                    9.3.1.6. Mexico Gas Turbine Upgrades for Performance Enhancement Market by Upgrade Type, Value (US$ Mn), 2018-2029
                    9.3.1.7. Rest of Latin America Gas Turbine Upgrades for Performance Enhancement Market by Turbine Cycle, Value (US$ Mn), 2018-2029
                    9.3.1.8. Rest of Latin America Gas Turbine Upgrades for Performance Enhancement Market by Upgrade Type, Value (US$ Mn), 2018-2029

10. Competitive Landscape
     10.1. Company Market Share Analysis, 2019
     10.2. Strategic Collaborations
     10.3. Company Profiles
            10.3.1. GE
                    10.3.1.1. Company Overview
                    10.3.1.2. Product Portfolio
                    10.3.1.3. Financial Overview
                    10.3.1.4. Business Strategies and Development
            10.3.2. Mitsubishi Heavy Industries, Ltd.
                    10.3.2.1. Company Overview
                    10.3.2.2. Product Portfolio
                    10.3.2.3. Financial Overview
                    10.3.2.4. Business Strategies and Development
            10.3.3. Siemens AG
                    10.3.3.1. Company Overview
                    10.3.3.2. Product Portfolio
                    10.3.3.3. Financial Overview
                    10.3.3.4. Business Strategies and Development
            10.3.4. Toshiba Corporation
                    10.3.4.1. Company Overview
                    10.3.4.2. Product Portfolio
                    10.3.4.3. Financial Overview
                    10.3.4.4. Business Strategies and Development
            10.3.5. ABB Ltd.
                    10.3.5.1. Company Overview
                    10.3.5.2. Product Portfolio
                    10.3.5.3. Financial Overview
                    10.3.5.4. Business Strategies and Development
            10.3.6. Dresser-Rand
                    10.3.6.1. Company Overview
                    10.3.6.2. Product Portfolio
                    10.3.6.3. Financial Overview
                    10.3.6.4. Business Strategies and Development
            10.3.7. Centrax Ltd.
                    10.3.7.1. Company Overview
                    10.3.7.2. Product Portfolio
                    10.3.7.3. Financial Overview
                    10.3.7.4. Business Strategies and Development
            10.3.8. Stellar Energy
                    10.3.8.1. Company Overview
                    10.3.8.2. Product Portfolio
                    10.3.8.3. Financial Overview
                    10.3.8.4. Business Strategies and Development
            10.3.9. ENRGISTX
                    10.3.9.1. Company Overview
                    10.3.9.2. Product Portfolio
                    10.3.9.3. Financial Overview
                    10.3.9.3. Business Strategies and Development
            10.3.10. Mee Industries Inc.
                    10.3.10.1. Company Overview
                    10.3.10.2. Product Portfolio
                    10.3.10.3. Financial Overview
                    10.3.10.4. Business Strategies and Development
            10.3.11. B&B-AGEMA GmbH
                    10.3.11.1. Company Overview
                    10.3.11.2. Product Portfolio
                    10.3.11.3. Financial Overview
                    10.3.11.4. Business Strategies and Development

11. Appendix
     11.1. Research Methodology
     11.2. Report Assumptions
     11.3. Acronyms and Abbreviations

BASE YEAR

HISTORICAL DATA

FORECAST PERIOD

UNITS

2021

  

2018 - 2021

2022 - 2029 

Value: US$ Million

 

REPORT FEATURES

DETAILS

Turbine Cycle Coverage

  • Simple Cycle
  • Combined Cycle

Upgrade Type Coverage

  • Comprehensive Upgrades
  • Hot Section Coating
  • Compressor Coating
  • Inlet Air Fogging
  • Others

Geographical Coverage

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • Italy
    • U.K.
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Nigeria
    • Rest of Middle East & Africa

Leading Companies

  • GE
  • Mitsubishi Heavy Industries, Ltd.
  • Siemens AG
  • Toshiba Corporation
  • ABB Ltd.
  • Dresser-Rand
  • Centrax Ltd.
  • Stellar Energy
  • ENRGISTX
  • Mee Industries Inc.
  • B&B-AGEMA GmbH

Report Highlights

Key Market Indicators, Macro-micro economic impact analysis, Technological Roadmap, Key Trends, Driver, Restraints, and Future Opportunities & Revenue Pockets, Porter’s 5 Forces Analysis, Historical Trend (2018-2021), Price Trend Analysis, Market Estimates and Forecast, Market Dynamics, Industry Trends, Competition Landscape, Category, Region, Country-wise Trends & Analysis, COVID-19 Impact Analysis (Demand and Supply Chain)

FAQs : Gas Turbine Upgrades for Performance Enhancement Market

Global gas turbine upgrade for performance enhancement market is anticipated to reach US$25.3 Bn by 2029 end.

Global top 5 players in gas turbine upgrade for performance enhancement market include GE, Siemens AG, Mitsubishi Heavy Industries, Ltd., Toshiba Corporation, and Dresser-Rand.

In 2021, Asia Pacific constituted 32.0% of the global gas turbine upgrade for performance enhancement market by value. In terms of value, Europe is expected to register a CAGR of 6.0% from 2022-2029.

In terms of turbine cycle, combine cycle gas turbine constituted more than 60% of the market in the year 2021. By upgrade type, comprehensive upgrades segment constituted more than 30% of the market in the year 2021.

The market witnessed positive impacts during COVID-19. There has been a significant fall in repair & maintenance of existing industrial gas turbines across the globe.

Our Research Methodology

Under uncertainty, traditional approaches to strategic planning can be downright dangerous. True ambiguity is no basis to forecast the future – degree of risk, the magnitude of circumstances, conditions and consequences are not known or unpredictable. To avoid dangerous binary views of uncertainty; strategic posture, moves and actions through market research is the best bet.

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