The Turbine Industry is Growing at a Turbo Speed!

The gas turbine engines are those big fan-like structures you see in a jet, or moving in an engine. The structure is such that it has a rotating compressor attached to a downstream turbine and in-between there is a combustion chamber. The working is quite similar to that of the steam power plant, with an exception that in the gas turbine you use air and in a steam plant you use water.

To simply put, in a gas turbine, mechanical energy is converted into heat which further causes movement and helps produce energy in some form or other. Jet engines, Turboprop engines, aero derivative engines are some of the major gas turbines available in the market.

The usage of gas turbine is huge, thus making it a very big industry in itself. In the article from here on, we shall analyse the gas turbine market share until year 2013.

The gas turbine industry is rapidly growing, it is expected to expand at a rate of 5.6 percent in the years to come. Currently, it is estimated that the industry records a growth of 4.5 percent each year since 2007.

The global market is divided between gas turbines of power more than 5000kW, less than 5000kW. Parts of gas turbines alone, account for nearly 71 percent of the total gas turbine market share.The turbines with power more than 500kW account for 23 percent of the market share, and the one’s with less than 500kW power account for 4 percent of the total market share.

Countries like the United States, China, Italy, and Germany eat up the largest portion of the gas turbine market share. It is estimated, that Greece could be the next largest contributor to this market share.

Growth in this industry is largely because of the ever increasing demand for energy, globally. Apart from natural gas, gas turbines are compatible with almost all fuels thereby giving the users a chance to switch or change fuel.

The market, categorically, is advancing because of the need to install new gas turbines and replace the older ones. In comparison to other reciprocating engines, they have very less moving parts, which are also smaller than the former engines.

For countries which have stringent carbon limits rules and regulations, call for gas turbine plant replacement, as soon as the plant starts to cross the specified limit. Thereby giving it a boost and increasing the gas turbine market share globally.

The factors that account for an increase in this industry are:

1. These are energy efficient and thus fall under heavy duty machineries.
2. They are fuel efficient and with an exception of natural gas, they can be used with any other fuels, thereby helping the users purchase the product even more.
3. Once it starts to ware out, you need to purchase new parts, hence the parts of the gas turbine industry is moving at a rapid rate.
4. The countries with strict carbon credit norms, notice the plants for a change in the gas turbines, thereby making big industries invest money in them.