Over the past few years gas turbines have witnessed exponential growth due to the technological advances that have resulted in the design and development of highly efficient gas turbine units. As the global demand for energy rises, the role that gas turbines play in energy production will be more and more important. Gas turbines are convenient, modular and flexible, and are suitable for continuous duty, standby and for peaking duty. Turbines are energy generators whose capacity ranges from 1 MW to 300 MW. Their basic principle comes from open cycle gas turbines, although they present several typical features, such as: compact size, variable speed, simple operability, high speed operation, easy installation, low maintenance and low NOX emissions. Consumption of these turbines is increasing globally due to abundance of natural gas in various regions. Increasing environmental regulations regarding the emission of greenhouse gases (GHG) from the conventional coal based power plant is increasing the dependence on less GHG emissive natural gas for power generation. This trend across the various regions is driving the market for gas turbines. Also increased shale gas exploration and availability of abundant gas resources in Middle East and America is driving the market for gas turbines in these economies.
Renewable energy sources stands as a threat for the acceptance of natural gas power generation, hence for the gas turbines market. Over the past five years power generation using renewable resources have increased by 15% on a global scale. In developed economies like Europe, the dependence on renewable sources is increasing owing to various regulations and lack of natural gas resources. In countries like France and Spain fracking is banned which acts as a major hindrance in production of natural gas and are majorly dependent on natural gas imports from Russia. Second factor that hinders the adoption of natural gas in various economies are their higher prices. They are almost sold at double the rate of coal and lignite. Most of the natural gas resources in India and Japan are empty for which they have to depend on natural gas imports. This makes the power generation using natural gas in these countries a difficult task. Japan imports almost 90% of the required natural gas from Australia. Government of India and Indonesia had signed an agreement in the takeover of three gas turbine plants in India for the exchange of coal. The agreement is signed for a worth of $12 billion. Use of natural gas in power generation will be supported by increased scrutiny over fossil fuels’ carbon emission.
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