Gas Turbine Market

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Gas Turbine Market Size and Demand to 2031
The Global Gas Turbine Market was valued at USD
19.3 billion in 2022 and is estimated to reach
approximately USD 28.4 billion by 2031, at a CAGR
of 4.3 from 2023 to 2031.
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Report Description
A gas turbine is a type of internal combustion
engine that uses a continuous combustion process
to transform fuel, usually natural gas or
aviation fuel, into mechanical energy.
Compressor, combustion chamber, and turbine make
up the device. High-speed exhaust gases created
by the compression, blending, and ignition of air
and fuel power the turbine. This rotation
produces energy for a number of uses, including
industrial machinery, electricity generation, and
aviation propulsion.
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Major Key Players

• Some of the major players operating in this
  market are
• Ansaldo Energia
• Bharat Heavy Electricals Ltd.
• Centrax Gas Turbines
• General Electric
• Kawasaki Heavy Industries, Ltd.
• MAN Energy Solutions
• Mitsubishi Power, Ltd.
• OPRA Turbines
• Siemens Energy
• Solar Turbines Inc.

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Market Segmentation

• By Technology (Open Cycle and Combined Cycle),
• By Design Type (Heavy-duty and Aero-derivative),
• By Rating Capacity (Less than 40 MW, 40-120 MW,
  120-300 MW, and Above 300 MW),
• By Application (Power Generation, Oil Gas,
  Marine, Aerospace, Process Plants, and Others),

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Regional Analysis

• Based on geography, the market is segmented into
  five geographical regions
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East
• Africa

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