Market Overview:
The global marine gas turbine market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for power and energy, especially in developing countries. In addition, the increasing adoption of gas turbines for maritime applications is also contributing to the growth of this market. The global marine gas turbine market can be segmented on the basis of type, application, and region. On the basis of type, it can be divided into aeroderivative gas turbines, light duty gas turbines, and heavy duty gas turbines. Aeroderivative gas turbines are expected to dominate this market during the forecast period owing to their high efficiency and low emissions levels as compared with other types of marine Gas Turbines . By application ,the global marine Gas Turbine Market can be classified into civil applications and military applications . Civil applications are projected to account for a larger share than military applications during the forecast period . Some key players operating in this market include General Electric (U.S.), Siemens AG (Germany), Rolls-Royce Holdings plc (U K), MAN SE (Germany), Kawasaki Heavy Industries Ltd.(Japan) Mitsubishi Heavy Industries Ltd.
Product Definition:
A marine gas turbine is a reciprocating engine that uses a gas, such as natural gas or propane, to turn a turbine. This turbine powers a ship's propellers. Marine gas turbines are often used on naval ships and large commercial vessels.
Aeroderivative Gas Turbine:
Aeroderivative gas turbine is a device that converts the energy from one or more gases to mechanical energy. Aeroderivatives are used in gas turbines for power generation. The mechanical work performed by an aeroderivative depends on its flow rate and pressure. It can be used with any source of combustion, such as natural gas, liquid petroleum gas (LPG), and other fuels.
Light Duty Gas Turbine:
A light duty gas turbine (LDGT) is a marine power generator, which has low weight and high speed as compared to heavy-duty turbines. LDGTs are mainly used for propulsion in ships and can be used for other applications where there is sufficient water flow. They are primarily employed in medium-sized vessels such as patrol boats, tugs, barges or similar types of vessels that have less cargo space but require more power to drive the ship.
Application Insights:
The application segment includes civil and military. In 2017, the civil segment dominated the market with a share of over 90% in terms of revenue. Increasing use of gas turbines as an alternative source for electricity generation is expected to drive their demand in civil applications over the forecast period. The growing need to reduce greenhouse emissions coupled with increasing awareness regarding energy conservation is projected to promote marine gas turbine usage for power generation in residential and commercial buildings across countries such as Japan, China and India. This factor would further boost industry growth during the forecast period.
Military applications are expected to witness significant growth owing to increased defense expenditure by governments worldwide including U.S.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region has witnessed a significant increase in demand for gas turbines from both military and civil applications. China, India, Japan, South Korea, Pakistan and Indonesia are some of the prominent countries that have adopted marine gas turbines for their naval vessels or aircrafts.
The Asia Pacific regional market is also anticipated to witness an increased demand for heavy-duty gas turbines owing to rising infrastructure activities coupled with increasing energy requirements from developing economies such as China and India. Furthermore, Australia has also announced plans of using heavy-duty gas turbine engines on Royal Australian Navy submarines beginning from 2020s which will further boost product penetration in this region over the next eight years.
Growth Factors:
- Increasing demand for electricity due to population growth and industrialization in developing countries
- Stringent environmental regulations for emissions from gas turbines, favoring the use of marine gas turbines over diesel engines
- Development of larger and more efficient marine gas turbines
- Growing popularity of LNG as a fuel for ships, due to its lower emissions and greater efficiency than traditional fuels such as heavy fuel oil (HFO)
- Increased use of hybrid propulsion systems that combine a marine gas turbine with an electric motor
Scope Of The Report
Report Attributes
Report Details
Report Title
Marine Gas Turbine Market Research Report
By Type
Aeroderivative Gas Turbine, Light Duty Gas Turbine, Heavy Duty Gas Turbine
By Application
Civil, Military
By Companies
General Electric, Siemens, Mitsubishi-Hitachi, Alstom, Solar Turbines, Rolls-Royce, Kawasaki, BHEL, MAN Diesel & Turbo, Ural Turbine Works, Shanghai Electric
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
240
Number of Tables & Figures
168
Customization Available
Yes, the report can be customized as per your need.
Global Marine Gas Turbine Market Report Segments:
The global Marine Gas Turbine market is segmented on the basis of:
Types
Aeroderivative Gas Turbine, Light Duty Gas Turbine, Heavy Duty Gas Turbine
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Civil, Military
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- General Electric
- Siemens
- Mitsubishi-Hitachi
- Alstom
- Solar Turbines
- Rolls-Royce
- Kawasaki
- BHEL
- MAN Diesel & Turbo
- Ural Turbine Works
- Shanghai Electric
Highlights of The Marine Gas Turbine Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Aeroderivative Gas Turbine
- Light Duty Gas Turbine
- Heavy Duty Gas Turbine
- By Application:
- Civil
- Military
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Marine Gas Turbine Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A marine gas turbine is a type of engine that uses natural gas as its fuel. It works much like an airplane engine, using air to turn a propeller to create thrust.
Some of the key players operating in the marine gas turbine market are General Electric, Siemens, Mitsubishi-Hitachi, Alstom, Solar Turbines, Rolls-Royce, Kawasaki, BHEL, MAN Diesel & Turbo, Ural Turbine Works, Shanghai Electric.
The marine gas turbine market is expected to register a CAGR of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Marine Gas Turbine Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Marine Gas Turbine Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Marine Gas Turbine Market - Supply Chain
4.5. Global Marine Gas Turbine Market Forecast
4.5.1. Marine Gas Turbine Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Marine Gas Turbine Market Size (000 Units) and Y-o-Y Growth
4.5.3. Marine Gas Turbine Market Absolute $ Opportunity
5. Global Marine Gas Turbine Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Marine Gas Turbine Market Size and Volume Forecast by Type
5.3.1. Aeroderivative Gas Turbine
5.3.2. Light Duty Gas Turbine
5.3.3. Heavy Duty Gas Turbine
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Marine Gas Turbine Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Marine Gas Turbine Market Size and Volume Forecast by Application
6.3.1. Civil
6.3.2. Military
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Marine Gas Turbine Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Marine Gas Turbine Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Marine Gas Turbine Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Marine Gas Turbine Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Marine Gas Turbine Demand Share Forecast, 2019-2026
9. North America Marine Gas Turbine Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Marine Gas Turbine Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Marine Gas Turbine Market Size and Volume Forecast by Application
9.4.1. Civil
9.4.2. Military
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Marine Gas Turbine Market Size and Volume Forecast by Type
9.7.1. Aeroderivative Gas Turbine
9.7.2. Light Duty Gas Turbine
9.7.3. Heavy Duty Gas Turbine
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Marine Gas Turbine Demand Share Forecast, 2019-2026
10. Latin America Marine Gas Turbine Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Marine Gas Turbine Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Marine Gas Turbine Market Size and Volume Forecast by Application
10.4.1. Civil
10.4.2. Military
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Marine Gas Turbine Market Size and Volume Forecast by Type
10.7.1. Aeroderivative Gas Turbine
10.7.2. Light Duty Gas Turbine
10.7.3. Heavy Duty Gas Turbine
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Marine Gas Turbine Demand Share Forecast, 2019-2026
11. Europe Marine Gas Turbine Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Marine Gas Turbine Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Marine Gas Turbine Market Size and Volume Forecast by Application
11.4.1. Civil
11.4.2. Military
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Marine Gas Turbine Market Size and Volume Forecast by Type
11.7.1. Aeroderivative Gas Turbine
11.7.2. Light Duty Gas Turbine
11.7.3. Heavy Duty Gas Turbine
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. arket Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Marine Gas Turbine Demand Share, 2019-2026
12. Asia Pacific Marine Gas Turbine Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Marine Gas Turbine Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Marine Gas Turbine Market Size and Volume Forecast by Application
12.4.1. Civil
12.4.2. Military
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Marine Gas Turbine Market Size and Volume Forecast by Type
12.7.1. Aeroderivative Gas Turbine
12.7.2. Light Duty Gas Turbine
12.7.3. Heavy Duty Gas Turbine
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Marine Gas Turbine Demand Share, 2019-2026
13. Middle East & Africa Marine Gas Turbine Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Marine Gas Turbine Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Marine Gas Turbine Market Size and Volume Forecast by Application
13.4.1. Civil
13.4.2. Military
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Marine Gas Turbine Market Size and Volume Forecast by Type
13.7.1. Aeroderivative Gas Turbine
13.7.2. Light Duty Gas Turbine
13.7.3. Heavy Duty Gas Turbine
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Marine Gas Turbine Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Marine Gas Turbine Market: Market Share Analysis
14.2. Marine Gas Turbine Distributors and Customers
14.3. Marine Gas Turbine Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. General Electric
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Siemens
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Mitsubishi-Hitachi
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Alstom
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Solar Turbines
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Rolls-Royce
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Kawasaki
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. BHEL
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. MAN Diesel & Turbo
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Ural Turbine Works
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Shanghai Electric
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
