U.S. Gas Turbine MarketU.S. Gas Turbine Market Strategic Insights: Analysis 2024 and Forecasts 2032
U.S. Gas Turbine Market by Capacity (1-2 MW, 2-5 MW, 5-7.5 MW, 7.5-10 MW, 10-15 MW, 15-20 MW, 20-30 MW, 30-40 MW, 40-100 MW, 100-150 MW, 150-300 MW, 300+ MW), by Technology (Heavy Duty, Light Industrial, Aero-Derivative), by Cycle Type (Simple Cycle, Combined Cycle), by Sector (Power Utilities, Oil & Gas, Manufacturing, Aviation), by Forecast 2024-2032
Base Year: 2023
120 Pages
U.S. Gas Turbine Market Strategic Insights: Analysis 2024 and Forecasts 2032
Key Insights
The U.S. Gas Turbine Market size was valued at USD 5.10 USD Billion in 2023 and is projected to reach USD 6.97 USD Billion by 2032, exhibiting a CAGR of 4.56 % during the forecast period. Gas turbines are combustion engines that are designed to either use natural gas, or other liquid fuels, and convert them into mechanical power. Generating thus this energy is able to power as a generator to produce electrical energy. Gas turbines are ubiquitous in the power sector, aviation, and industrial manufacturing setting because of their excellent economy of disposal and reliability. There are three main types: Phaser: industrial gas turbines, aeroderivative gas turbines, and microturbines. High points of this engine are the ability to provide power equivalent to other engines of much larger sizes and diverse option in fuel usage. The past decade can be viewed as a time in which U. S. technologists have made a lot of progress in materials research and technologies required for cooling to enhance the efficiency of the turbine and reduce emissions, and renewable sources integration for a clean power grid.
U.S. Gas Turbine Trends
- Increased focus on power generation efficiency
- Growing demand for clean and sustainable energy
- Government initiatives promoting renewable energy sources
- Adoption of advanced technologies like cogeneration and combined cycle plants
Driving Forces: What's Propelling the U.S. Gas Turbine Market
- Escalating energy demands with rising population and economic growth
- Stringent regulations on emissions, favoring cleaner power generation
- Advancement in gas turbine technology, leading to improved efficiency
- Increased investments in renewable energy projects
Challenges and Restraints in U.S. Gas Turbine Market
- Fluctuating natural gas prices affecting operational costs
- Technological limitations and high maintenance costs
- Competition from alternative energy sources such as solar and wind
Emerging Trends in U.S. Gas Turbine
- Integration of digitalization and automation for improved efficiency
- Development of hybrid gas turbines for increased flexibility
- Focus on sustainable and low-emission technologies
Growth Catalysts in U.S. Gas Turbine Industry
- government funding and incentives for renewable energy projects
- Collaboration between industry players for technological innovation
- Strategic partnerships for market expansion
- Adoption of smart grid technologies for enhanced grid stability
Market Segmentation: U.S. Gas Turbine Analysis
By Capacity
- 1-2 MW
- 2-5 MW
- 5-7.5 MW
- 7.5-10 MW
- 10-15 MW
- 15-20 MW
- 20-30 MW
- 30-40 MW
- 40-100 MW
- 100-150 MW
- 150-300 MW
- 300+ MW
By Technology
- Heavy Duty
- Light Industrial
- Aero-Derivative
By Cycle Type
- Simple Cycle
- Combined Cycle
By Sector
- Power Utilities
- Oil & Gas
- Manufacturing
- Aviation
Leading Players in the U.S. Gas Turbine Market
- GE (U.S.)
- Cummins Inc. (U.S.)
- Mitsubishi Power (Japan)
- Caterpillar (U.S.)
- Siemens (Germany)
- Solar Turbines (U.S.)
- Wärtsilä (Finland)
- Capstone Green Energy Corporation (U.S.)
- Vericor Power Systems LLC (U.S.)
- Kawasaki Heavy Electrical Limited (Japan)
Significant developments in U.S. Gas Turbine Sector
- September 2023- Rolls-Royce developed a new gas turbine to power hybrid-electric flight and completed its first fuel burn.
- August 2023- General Electric Company's GE unit, GE Vernova's Gas Power business, received two orders from its subsidiary East Asia Power Co., Ltd. of Royal Golden Eagle Group and Beijing International Energy Group Co., Ltd. to provide four units of gas turbine 6F.03.
- March 2023- GE launched its newest high-efficiency gas turbine, which consumes less natural gas and is to be deployed at the 435-megawatt Tallawarra Power Station in Sydney, Australia.
Comprehensive Coverage U.S. Gas Turbine Market Report
This report provides an in-depth and up-to-date analysis of the U.S. Gas Turbine market, covering:
- Current Market Size and Growth Projections: Updated market size estimates and growth projections based on recent industry trends and economic factors.
- Market Segmentation: Expanded market segmentation by capacity, technology (heavy-duty, aero-derivative), cycle type (combined cycle, simple cycle), and sector (power generation, oil and gas).
- Leading Market Players: Detailed profiles of key market players, including their market share, product offerings, and recent developments.
- Industry Trends and Technologies: Analysis of emerging industry trends, disruptive technologies (e.g., hydrogen fuel), and their impact on the market.
- Competitive Landscape: Comprehensive market share analysis and competitive landscape assessment, including mergers, acquisitions, and joint ventures.
- Regulatory Framework: Discussion of current and upcoming regulations related to the U.S. Gas Turbine market, including emissions standards and efficiency requirements.
- Industry Outlook: In-depth forecast of the market's future growth, challenges, and opportunities, providing insights for strategic decision-making.
Regional Insight
The U.S. Gas Turbine market is predominantly driven by regions with high energy consumption, such as California, Texas, and the Northeast.
Technology Analysis
Technological advancements are playing a significant role in driving market growth, with a focus on improving efficiency, reducing emissions, and enhancing flexibility.
Pestle Analysis
The PESTLE analysis provides insights into the political, economic, social, technological, legal, and environmental factors influencing the market.
Portor's Five Force Analysis
Porter's Five Force Analysis examines the competitive landscape, considering rivalry among existing players, threat of new entrants, bargaining power of suppliers, bargaining power of buyers, and threat of substitute products or services.
BCG Matrix
The BCG Matrix categorizes market players based on their market share and growth rate to identify potential investment and growth opportunities.
Import & Export Analysis
The report provides an analysis of U.S. Gas Turbine import and export trends, highlighting key trading partners and market dynamics.
Production & Consumption
The report offers insights into the production and consumption patterns of U.S. Gas Turbine, providing historical and forecast data.
Regulatory Landscape
The report covers regulatory frameworks and policies impacting the U.S. Gas Turbine market, including environmental regulations and emission standards.
U.S. Gas Turbine Market REPORT HIGHLIGHTS
| Aspects | Details |
|---|---|
| Study Period | 2018-2032 |
| Base Year | 2023 |
| Estimated Year | 2024 |
| Forecast Period | 2024-2032 |
| Historical Period | 2018-2023 |
| Growth Rate | CAGR of 4.56% from 2018-2032 |
| Segmentation |
|
Frequently Asked Questions
Table Of Content
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 2.1. Introduction
- 3. Market Dynamics
- 3.1. Introduction
- 3.2. Market Drivers
- 3.2.1. Increasing Emphasis on Replacing Nuclear and Coal Turbines with Gas Turbines to Fuel the Market Growth
- 3.3. Market Restrains
- 3.3.1. Volatility in Natural Gas Prices May Hinder the Market Growth
- 3.4. Market Trends
- 3.4.1. Growth of the Aviation Industry and Increase in Electricity Consumption
- 4. Market Factor Analysis
- 4.1. Porters Five Forces
- 4.2. Supply/Value Chain
- 4.3. PESTEL analysis
- 4.4. Market Entropy
- 4.5. Patent/Trademark Analysis
- 5. U.S. Gas Turbine Market Analysis, Insights and Forecast, 2018-2030
- 5.1. Market Analysis, Insights and Forecast - by Capacity
- 5.1.1. 1-2 MW
- 5.1.2. 2-5 MW
- 5.1.3. 5-7.5 MW
- 5.1.4. 7.5-10 MW
- 5.1.5. 10-15 MW
- 5.1.6. 15-20 MW
- 5.1.7. 20-30 MW
- 5.1.8. 30-40 MW
- 5.1.9. 40-100 MW
- 5.1.10. 100-150 MW
- 5.1.11. 150-300 MW
- 5.1.12. 300+ MW
- 5.2. Market Analysis, Insights and Forecast - by Technology
- 5.2.1. Heavy Duty
- 5.2.2. Light Industrial
- 5.2.3. Aero-Derivative
- 5.3. Market Analysis, Insights and Forecast - by Cycle Type
- 5.3.1. Simple Cycle
- 5.3.2. Combined Cycle
- 5.4. Market Analysis, Insights and Forecast - by Sector
- 5.4.1. Power Utilities
- 5.4.2. Oil & Gas
- 5.4.3. Manufacturing
- 5.4.4. Aviation
- 5.5. Market Analysis, Insights and Forecast - by Region
- 5.5.1.
- 5.1. Market Analysis, Insights and Forecast - by Capacity
- 6. Northeast U.S. Gas Turbine Market Analysis, Insights and Forecast, 2018-2030
- 6.1. Market Analysis, Insights and Forecast - By Capacity
- 6.1.1 1-2 MW
- 6.1.2 2-5 MW
- 6.1.3 5-7.5 MW
- 6.1.4 7.5-10 MW
- 6.1.5 10-15 MW
- 6.1.6 15-20 MW
- 6.1.7 20-30 MW
- 6.1.8 30-40 MW
- 6.1.9 40-100 MW
- 6.1.10 100-150 MW
- 6.1.11 150-300 MW
- 6.1.12 and 300+ MW
- 6.2. Market Analysis, Insights and Forecast - By Technology
- 6.2.1 Heavy Duty
- 6.2.2 Light Industrial
- 6.2.3 Aero-Derivative
- 6.3. Market Analysis, Insights and Forecast - By Cycle Type
- 6.3.1 Simple Cycle
- 6.3.2 Combined Cycle
- 6.4. Market Analysis, Insights and Forecast - By Sector
- 6.4.1 Power Utilities
- 6.4.2 Oil & Gas
- 6.4.3 Manufacturing
- 6.4.4 Aviation
- 7. Southeast U.S. Gas Turbine Market Analysis, Insights and Forecast, 2018-2030
- 7.1. Market Analysis, Insights and Forecast - By Capacity
- 7.1.1 1-2 MW
- 7.1.2 2-5 MW
- 7.1.3 5-7.5 MW
- 7.1.4 7.5-10 MW
- 7.1.5 10-15 MW
- 7.1.6 15-20 MW
- 7.1.7 20-30 MW
- 7.1.8 30-40 MW
- 7.1.9 40-100 MW
- 7.1.10 100-150 MW
- 7.1.11 150-300 MW
- 7.1.12 and 300+ MW
- 7.2. Market Analysis, Insights and Forecast - By Technology
- 7.2.1 Heavy Duty
- 7.2.2 Light Industrial
- 7.2.3 Aero-Derivative
- 7.3. Market Analysis, Insights and Forecast - By Cycle Type
- 7.3.1 Simple Cycle
- 7.3.2 Combined Cycle
- 7.4. Market Analysis, Insights and Forecast - By Sector
- 7.4.1 Power Utilities
- 7.4.2 Oil & Gas
- 7.4.3 Manufacturing
- 7.4.4 Aviation
- 8. Midwest U.S. Gas Turbine Market Analysis, Insights and Forecast, 2018-2030
- 8.1. Market Analysis, Insights and Forecast - By Capacity
- 8.1.1 1-2 MW
- 8.1.2 2-5 MW
- 8.1.3 5-7.5 MW
- 8.1.4 7.5-10 MW
- 8.1.5 10-15 MW
- 8.1.6 15-20 MW
- 8.1.7 20-30 MW
- 8.1.8 30-40 MW
- 8.1.9 40-100 MW
- 8.1.10 100-150 MW
- 8.1.11 150-300 MW
- 8.1.12 and 300+ MW
- 8.2. Market Analysis, Insights and Forecast - By Technology
- 8.2.1 Heavy Duty
- 8.2.2 Light Industrial
- 8.2.3 Aero-Derivative
- 8.3. Market Analysis, Insights and Forecast - By Cycle Type
- 8.3.1 Simple Cycle
- 8.3.2 Combined Cycle
- 8.4. Market Analysis, Insights and Forecast - By Sector
- 8.4.1 Power Utilities
- 8.4.2 Oil & Gas
- 8.4.3 Manufacturing
- 8.4.4 Aviation
- 9. Southwest U.S. Gas Turbine Market Analysis, Insights and Forecast, 2018-2030
- 9.1. Market Analysis, Insights and Forecast - By Capacity
- 9.1.1 1-2 MW
- 9.1.2 2-5 MW
- 9.1.3 5-7.5 MW
- 9.1.4 7.5-10 MW
- 9.1.5 10-15 MW
- 9.1.6 15-20 MW
- 9.1.7 20-30 MW
- 9.1.8 30-40 MW
- 9.1.9 40-100 MW
- 9.1.10 100-150 MW
- 9.1.11 150-300 MW
- 9.1.12 and 300+ MW
- 9.2. Market Analysis, Insights and Forecast - By Technology
- 9.2.1 Heavy Duty
- 9.2.2 Light Industrial
- 9.2.3 Aero-Derivative
- 9.3. Market Analysis, Insights and Forecast - By Cycle Type
- 9.3.1 Simple Cycle
- 9.3.2 Combined Cycle
- 9.4. Market Analysis, Insights and Forecast - By Sector
- 9.4.1 Power Utilities
- 9.4.2 Oil & Gas
- 9.4.3 Manufacturing
- 9.4.4 Aviation
- 10. West U.S. Gas Turbine Market Analysis, Insights and Forecast, 2018-2030
- 10.1. Market Analysis, Insights and Forecast - By Capacity
- 10.1.1 1-2 MW
- 10.1.2 2-5 MW
- 10.1.3 5-7.5 MW
- 10.1.4 7.5-10 MW
- 10.1.5 10-15 MW
- 10.1.6 15-20 MW
- 10.1.7 20-30 MW
- 10.1.8 30-40 MW
- 10.1.9 40-100 MW
- 10.1.10 100-150 MW
- 10.1.11 150-300 MW
- 10.1.12 and 300+ MW
- 10.2. Market Analysis, Insights and Forecast - By Technology
- 10.2.1 Heavy Duty
- 10.2.2 Light Industrial
- 10.2.3 Aero-Derivative
- 10.3. Market Analysis, Insights and Forecast - By Cycle Type
- 10.3.1 Simple Cycle
- 10.3.2 Combined Cycle
- 10.4. Market Analysis, Insights and Forecast - By Sector
- 10.4.1 Power Utilities
- 10.4.2 Oil & Gas
- 10.4.3 Manufacturing
- 10.4.4 Aviation
- 11. Competitive Analysis
- 11.1. Market Share Analysis 2023
- 11.2. Company Profiles
- 11.2.1 GE (U.S.)
- 11.2.1.1. Overview
- 11.2.1.2. Products
- 11.2.1.3. SWOT Analysis
- 11.2.1.4. Recent Developments
- 11.2.1.5. Financials (Based on Availability)
- 11.2.2 Cummins Inc. (U.S.)
- 11.2.2.1. Overview
- 11.2.2.2. Products
- 11.2.2.3. SWOT Analysis
- 11.2.2.4. Recent Developments
- 11.2.2.5. Financials (Based on Availability)
- 11.2.3 Mitsubishi Power (Japan)
- 11.2.3.1. Overview
- 11.2.3.2. Products
- 11.2.3.3. SWOT Analysis
- 11.2.3.4. Recent Developments
- 11.2.3.5. Financials (Based on Availability)
- 11.2.4 Caterpillar (U.S.)
- 11.2.4.1. Overview
- 11.2.4.2. Products
- 11.2.4.3. SWOT Analysis
- 11.2.4.4. Recent Developments
- 11.2.4.5. Financials (Based on Availability)
- 11.2.5 Siemens (Germany)
- 11.2.5.1. Overview
- 11.2.5.2. Products
- 11.2.5.3. SWOT Analysis
- 11.2.5.4. Recent Developments
- 11.2.5.5. Financials (Based on Availability)
- 11.2.6 Solar Turbines (U.S.)
- 11.2.6.1. Overview
- 11.2.6.2. Products
- 11.2.6.3. SWOT Analysis
- 11.2.6.4. Recent Developments
- 11.2.6.5. Financials (Based on Availability)
- 11.2.7 Wärtsilä (Finland)
- 11.2.7.1. Overview
- 11.2.7.2. Products
- 11.2.7.3. SWOT Analysis
- 11.2.7.4. Recent Developments
- 11.2.7.5. Financials (Based on Availability)
- 11.2.8 Capstone Green Energy Corporation (U.S.)
- 11.2.8.1. Overview
- 11.2.8.2. Products
- 11.2.8.3. SWOT Analysis
- 11.2.8.4. Recent Developments
- 11.2.8.5. Financials (Based on Availability)
- 11.2.9 Vericor Power Systems LLC (U.S.)
- 11.2.9.1. Overview
- 11.2.9.2. Products
- 11.2.9.3. SWOT Analysis
- 11.2.9.4. Recent Developments
- 11.2.9.5. Financials (Based on Availability)
- 11.2.10 Kawasaki Heavy Electrical Limited (Japan)
- 11.2.10.1. Overview
- 11.2.10.2. Products
- 11.2.10.3. SWOT Analysis
- 11.2.10.4. Recent Developments
- 11.2.10.5. Financials (Based on Availability)
- 11.2.1 GE (U.S.)
List of Figures
- Figure 1: U.S. Gas Turbine Market Revenue Breakdown (USD Billion, %) by Product 2023 & 2031
- Figure 2: U.S. Gas Turbine Market Value Share (%), by Capacity 2023 & 2031
- Figure 3: U.S. Gas Turbine Market Value Share (%), by Technology 2023 & 2031
- Figure 4: U.S. Gas Turbine Market Value Share (%), by Cycle Type 2023 & 2031
- Figure 5: U.S. Gas Turbine Market Value Share (%), by Sector 2023 & 2031
- Figure 6: U.S. Gas Turbine Market Share (%) by Company 2023
List of Tables
- Table 1: U.S. Gas Turbine Market Revenue USD Billion Forecast, by Capacity 2018 & 2031
- Table 2: U.S. Gas Turbine Market Volume K Units Forecast, by Capacity 2018 & 2031
- Table 3: U.S. Gas Turbine Market Revenue USD Billion Forecast, by Technology 2018 & 2031
- Table 4: U.S. Gas Turbine Market Volume K Units Forecast, by Technology 2018 & 2031
- Table 5: U.S. Gas Turbine Market Revenue USD Billion Forecast, by Cycle Type 2018 & 2031
- Table 6: U.S. Gas Turbine Market Volume K Units Forecast, by Cycle Type 2018 & 2031
- Table 7: U.S. Gas Turbine Market Revenue USD Billion Forecast, by Sector 2018 & 2031
- Table 8: U.S. Gas Turbine Market Volume K Units Forecast, by Sector 2018 & 2031
- Table 9: U.S. Gas Turbine Market Revenue USD Billion Forecast, by Region 2018 & 2031
- Table 10: U.S. Gas Turbine Market Volume K Units Forecast, by Region 2018 & 2031
- Table 11: U.S. Gas Turbine Market Revenue USD Billion Forecast, by Capacity 2018 & 2031
- Table 12: U.S. Gas Turbine Market Volume K Units Forecast, by Capacity 2018 & 2031
- Table 13: U.S. Gas Turbine Market Revenue USD Billion Forecast, by Technology 2018 & 2031
- Table 14: U.S. Gas Turbine Market Volume K Units Forecast, by Technology 2018 & 2031
- Table 15: U.S. Gas Turbine Market Revenue USD Billion Forecast, by Cycle Type 2018 & 2031
- Table 16: U.S. Gas Turbine Market Volume K Units Forecast, by Cycle Type 2018 & 2031
- Table 17: U.S. Gas Turbine Market Revenue USD Billion Forecast, by Sector 2018 & 2031
- Table 18: U.S. Gas Turbine Market Volume K Units Forecast, by Sector 2018 & 2031
- Table 19: U.S. Gas Turbine Market Revenue USD Billion Forecast, by Region 2018 & 2031
- Table 20: U.S. Gas Turbine Market Volume K Units Forecast, by Region 2018 & 2031
- Table 21: U.S. Gas Turbine Market Revenue USD Billion Forecast, by Capacity 2018 & 2031
- Table 22: U.S. Gas Turbine Market Volume K Units Forecast, by Capacity 2018 & 2031
- Table 23: U.S. Gas Turbine Market Revenue USD Billion Forecast, by Technology 2018 & 2031
- Table 24: U.S. Gas Turbine Market Volume K Units Forecast, by Technology 2018 & 2031
- Table 25: U.S. Gas Turbine Market Revenue USD Billion Forecast, by Cycle Type 2018 & 2031
- Table 26: U.S. Gas Turbine Market Volume K Units Forecast, by Cycle Type 2018 & 2031
- Table 27: U.S. Gas Turbine Market Revenue USD Billion Forecast, by Sector 2018 & 2031
- Table 28: U.S. Gas Turbine Market Volume K Units Forecast, by Sector 2018 & 2031
- Table 29: U.S. Gas Turbine Market Revenue USD Billion Forecast, by Country 2018 & 2031
- Table 30: U.S. Gas Turbine Market Volume K Units Forecast, by Country 2018 & 2031
- Table 31: Northeast U.S. Gas Turbine Market Revenue (USD Billion) Forecast, by Application 2018 & 2031
- Table 32: Northeast U.S. Gas Turbine Market Volume (K Units) Forecast, by Application 2018 & 2031
- Table 33: Southeast U.S. Gas Turbine Market Revenue (USD Billion) Forecast, by Application 2018 & 2031
- Table 34: Southeast U.S. Gas Turbine Market Volume (K Units) Forecast, by Application 2018 & 2031
- Table 35: Midwest U.S. Gas Turbine Market Revenue (USD Billion) Forecast, by Application 2018 & 2031
- Table 36: Midwest U.S. Gas Turbine Market Volume (K Units) Forecast, by Application 2018 & 2031
- Table 37: Southwest U.S. Gas Turbine Market Revenue (USD Billion) Forecast, by Application 2018 & 2031
- Table 38: Southwest U.S. Gas Turbine Market Volume (K Units) Forecast, by Application 2018 & 2031
- Table 39: West U.S. Gas Turbine Market Revenue (USD Billion) Forecast, by Application 2018 & 2031
- Table 40: West U.S. Gas Turbine Market Volume (K Units) Forecast, by Application 2018 & 2031
- Table 41: U.S. Gas Turbine Market Revenue USD Billion Forecast, by Capacity 2018 & 2031
- Table 42: U.S. Gas Turbine Market Volume K Units Forecast, by Capacity 2018 & 2031
- Table 43: U.S. Gas Turbine Market Revenue USD Billion Forecast, by Technology 2018 & 2031
- Table 44: U.S. Gas Turbine Market Volume K Units Forecast, by Technology 2018 & 2031
- Table 45: U.S. Gas Turbine Market Revenue USD Billion Forecast, by Cycle Type 2018 & 2031
- Table 46: U.S. Gas Turbine Market Volume K Units Forecast, by Cycle Type 2018 & 2031
- Table 47: U.S. Gas Turbine Market Revenue USD Billion Forecast, by Sector 2018 & 2031
- Table 48: U.S. Gas Turbine Market Volume K Units Forecast, by Sector 2018 & 2031
- Table 49: U.S. Gas Turbine Market Revenue USD Billion Forecast, by Country 2018 & 2031
- Table 50: U.S. Gas Turbine Market Volume K Units Forecast, by Country 2018 & 2031
| Aspects | Details |
|---|---|
| Study Period | 2018-2032 |
| Base Year | 2023 |
| Estimated Year | 2024 |
| Forecast Period | 2024-2032 |
| Historical Period | 2018-2023 |
| Growth Rate | CAGR of 4.56% from 2018-2032 |
| Segmentation |
|
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