Global demand for gas turbines is forecast to expand 5.5% p.a. between 2014 2018. China, Greece, Lithuania, Slovakia, and the United States are considered the highest potential markets in the coming years.
According to recently published research conducted by a leading international market research company, Global Research & Data Services, the expansion of the global gas turbine industry is forecast to reach 5.5% p.a. in the coming years. Between 2007 and 2013 the market increased with an average annual growth of 4.8%. Currently, parts of gas turbines account for 71.9% of the global demand while the remaining market share is divided between gas turbines (power more than 5000 kW) (23.8%), and gas turbines (power less than 5000 kW) (4.2%).
China, Germany, Italy, the United Kingdom, and the United States represent the largest gas turbine markets while the strongest annual growth is forecast to occur in Greece (39.0%), Slovakia (25.4%), Lithuania (24.7%), Finland (21.7%), and Georgia (17.8%).
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Gas turbine market size compared to market growth in different countries
Based on in-house analysis and an advanced model which takes into consideration the actual market size, trends, forecast market growth, and changes in the market environment, Global Research and Data Services calculates the Market Potential Rates, the predicted market potential of the country in the coming years. The larger the Market Potential Rate, the more potential the market has in the coming years; and conversely, the smaller the rate, the less potential the market is considered to have in the future. Based on these Market Potential Rates, the top 20 highest potential gas turbine markets in the coming years are:
Ranking Country Market Potential Rate
1. United States 0.65
2. Greece 0.39
3. China 0.26
4. Slovakia 0.25
5. Lithuania 0.25
6. Finland 0.23
7. Georgia 0.18
8. Morocco 0.16
9. Latvia 0.16
10. Hungary 0.15
11. France 0.15
12. Bulgaria 0.15
13. Portugal 0.15
14. Vietnam 0.13
15. Belgium 0.12
16. Austria 0.12
17. Peru 0.12
18. Egypt 0.12
19. South Korea 0.12
20. Philippines 0.11
The market information is based on new industry reports recently published by Global Research & Data Services. The publications offer the most up-to-date perspective on the actual market situation, trends, and future outlook for gas turbines in the world and individually for the following countries:
Argentina, Austria, Belgium, Bulgaria, Canada, China, Czech Republic, Denmark, Ecuador, Egypt, Estonia, Finland, France, Georgia, Germany, Greece, Hungary, India, Indonesia, Ireland, Italy, Japan, Kazakhstan, Kyrgyzstan, Latvia, Lebanon, Lithuania, Macedonia, Malaysia, Morocco, Netherlands, Norway, Oman, Pakistan, Peru, Philippines, Poland, Portugal, Romania, Singapore, Slovakia, Slovenia, South Africa, South Korea, Spain, Sweden, Thailand, Turkey, Ukraine, United Kingdom, United States, Vietnam
The studies include historic market data from 2007 to 2013 and forecasts until 2018 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, analysts, and other industry professionals looking for key market insights in a readily accessible and clearly presented format.
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The market studies help identify:
- What is the size of the global gas turbine market?
- What is the size of the gas turbine market in different countries around the world?
- How are the markets divided into different product segments?
- Which products are growing fast?
- How have the markets been developing?
- What does the future look like?
- What is the market potential?
Product segments analyzed in the studies:
Gas turbines (power less than 5000 kW)
Gas turbines (power more than 5000 kW)
Parts of gas turbines.
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