The Indian market for gas turbine is majorly comprised of foreign players who export ready-made gas turbines for use in the power and aircraft industry to the country. This is due to the complexity in design, lack of skilled workforce and lack of research and funding. As the Indian power industry shifts its focus from large thermal plants (steam and gas) to renewables, the demand for gas turbines will eventually decrease, along with the fact that India imports most of it natural gas requirement. However, the growth for the components of aircraft based gas turbines is expected to increase considering the ‘Make-in-India’ initiative of the Indian Government. This could encourage foreign key players like GE, Rolls-Royce, Siemens, etc to shift their manufacturing supply chains to India.
What is a Gas turbine?
Gas Turbines are turbines under the class of thermal energy conversion machines where the fuel is burned to produce a hot stream of gases which transfers it mechanical energy to a drive shaft resulting in useful work. This rotating turbine can be connected to a generator which generates electrical energy or drive huge mechanical loads or even used in aircrafts to generate thrust. Moreover, these turbines’ working principle is based on the Brayton cycle – a thermodynamic process that dictates efficient heat transfer. Its major applications are found in the power and aerospace industry which has increasing growth requirements and potential.
Market Research and Market Trends of Indian Gas Turbine Market
- The Gas Turbine market is a market wherein the focus of innovation has always been efficiency. As a result, the key players have been at the forefront of improving material design and heat recovery processes.
- One of the trending innovations seen in the market is the research into developing new materials which have high tensile and fatigue strength and high resistance to crack propagation. The industry is considering new alloys such as vanadium-molybdenum-chromium alloy and austenitic base alloy. Also different coating compounds are been developed for the protection of gas turbine against extreme corrosion and cracking.
- The power based gas turbine market share is witnessing a downward trend considering the shift in focus from large thermal plants to renewable energy sources. The CAGR (%) 2007-08 to 2016-17 of Renewable Sources was 17.80%, compared to 5.60% Gas based production.
- The Indian domestic civil aviation market is the third largest in the world and is expected to reach the premier position by 2020. This indirectly creates an increased demand for aircraft based gas turbines, and with the Make-in-India initiative, many foreign manufacturers are encouraged to shift their production supply chains to India.
Who are the Major Players in India Gas Turbine Market?
The major technology providers in the Indian gas turbine markets are Siemens A.G., General Electric, Mitsubishi Heavy Industries, Bharat Heavy Electricals and Hindustan Aeronautics Limited. These companies contribute to the majority of the gas turbine market share in all the sectors - Power Generation, Oil & Gas, Marine, Aerospace and Others.
What is our report scope?
The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2018-2023.
All our reports are customizable to your company needs to a certain extent, we do provide 20 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
Key Takeaways from this Report
- Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals.
- Understand the different dynamics influencing the market – key driving factors, challenges and hidden opportunities.
- Get in-depth insights on your competitor performance – market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
- Analyze the sales and distribution channels across key geographies to improve top-line revenues.
- Understand the industry supply chain with a deep-dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.
- Get a quick outlook on the market entropy – M&A’s, deals, partnerships, product launches of all key players for the past 4 years.
- Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.
1. Gas Turbine Market Overview
2. Executive Summary
3. Gas Turbine Market Landscape
3.1. Market Share Analysis
3.2. Comparative Analysis
3.2.1. Product Benchmarking
3.2.2. End user profiling
3.2.3. Patent Analysis
3.2.4. Top 5 Financials Analysis
4. Gas Turbine – Market Forces
4.1. Market Drivers
4.2. Market Constraints
4.3. Market Challenges
4.4. Attractiveness of the Industry
4.4.1. Power of Suppliers
4.4.2. Power of Customers
4.4.3. Threat of New entrants
4.4.4. Threat of Substitution
4.4.5. Degree of Competition
5. Gas turbine Market – Strategic Analysis
5.1. Value Chain Analysis
5.2. Pricing Analysis
5.3. Opportunities Analysis
5.4. Product/Market Life Cycle Analysis
5.5. Suppliers and Distributors
6. Gas Turbines Market – By Design Type
6.1. Heavy Duty
6.3. Aero Derivative
7. Gas Turbines Market – By Capacity
7.1. 1-40 MW
7.2. 7.2. 40-150 MW
7.3. 150-300 MW
7.4. Above 300 MW
8. Gas Turbines Market – By Technology
8.1. Open Cycle
8.2. Combined Cycle
9. Gas Turbines Market – By Application
9.1. Power Generation
9.2. Oil & Gas
10. Gas turbine Market – By Geography
11. Market Entropy
11.1. New Product Launches
11.2. M&As, Collaborations, JVs, Partnership
12. Company Profiles
12.1. Siemens A.G.
12.2. General Electric
12.3. Mitsubishi Heavy Industries
12.4. Bharat Heavy Electricals
12.5. Hindustan Aeronautics Limited
12.6. Company 6
12.7. Company 7
12.8. Company 8
12.9. Company 9
12.10. Company 10+
*More than 20 Companies are profiled in this Research Report*
"*Financials would be provided on a best efforts basis for private companies"
13.3. Research Methodology
13.5. Compilation of Expert Insights