Report suggests gas turbine market to reach $10 billion by 2026

• 4 years ago (2020-03-18)
• David Flin

Gas 371

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Global Market Insights has published a report which says that global gas turbine market value is expected to cross $10 billion by 2026. It said that increasing sustainable energy demand across power and process plants as well as a growing move towards energy optimisation will drive this scenario, along with integrating renewable energy systems into the power grid.

It predicts that 70-200MW units will exceed an annual instalment of 10GW by 2026, with the key factors driving deployment being: cost-effective installations, effective repowering solutions, and over 60 per cent efficiencies in combined cycle operation.

The report expects favourable government policies including tax rebates, subsidies, and financial incentives towards adoption of renewable power generation systems will boost deployment of gas turbines in the 70-200MW range.