New Analysis from Global Industry Analysts Reveals Steady Growth for Gas Turbines, with the Market to Reach $25.9 Billion Worldwide by 2026

SAN FRANCISCO , June 27, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Gas Turbines - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

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What's New for 2022?

• Global competitiveness and key competitor percentage market shares
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Edition: 8; Released: January 2022
Executive Pool: 14084
Companies: 26 - Players covered include Ansaldo; Bharat Heavy Electricals Limited; Capstone Turbine Corporation; Cryostar; General Electric; Harbin Turbine Company Limited; Kawasaki Heavy Industries Ltd.; MAN Energy Solutions; Mitsubishi Hitachi Power Systems Ltd.; Opra Turbines B.V.; Siemens AG; Solar Turbines Incorporated; UEC Saturn; Vericor Power Systems; Wärtsilä; Zorya-Mashproekt and Others.
Coverage: All major geographies and key segments
Segments: End-Use (Power Generation, Oil & Gas, Aviation)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

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ABSTRACT-

Global Gas Turbines Market to Reach $25.9 Billion by 2026
Amid the COVID-19 crisis, the global market for Gas Turbines estimated at US$21.2 Billion, is projected to reach a revised size of US$25.9 Billion by 2026, growing at a CAGR of 3.3% over the analysis period. Power Generation, one of the segments analyzed in the report, is projected to record a 3.7% CAGR and reach US$11.1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Oil & Gas segment is readjusted to a revised 3.3% CAGR for the next 7-year period.

The U.S. Market is Estimated at $5.9 Billion in 2021, While China is Forecast to Reach $5.3 Billion by 2026
The Gas Turbines market in the U.S. is estimated at US$5.9 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$5.3 Billion by the year 2026 trailing a CAGR of 6.1% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.9% and 2.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 1.6% CAGR.

Aviation Segment to Reach US$13.1 Billion by the year 2026
In the global Aviation segment, USA, Canada, Japan, China and Europe will drive the 2.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$8.2 Billion will reach a projected size of US$9.8 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More

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About Global Industry Analysts, Inc. & StrategyRtm
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

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SOURCE Global Industry Analysts, Inc.