Aero Derivative Gas Turbine Market: Trends and Analysis.
Aero
derivative gas turbine is a lightweight gas turbine that combines gas and air
to generate the desired energy output. Aero derivative generators are used for
electricity production and are perfect for offshore and onshore mechanical
drive platforms. These generators have better performance and are relatively
lighter than their alternative choice such as traditional fuel generators.
Additionally,
they find application in numerous end-user segments, including mobility power
generation, oil & gas, food processing, paper & pulp, and chemical
industries. Furthermore, most of the regions across the world are adopting
unconventional clean power generation methods over traditional methods.
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COVID–19 scenario
analysis:
§
The novel
coronavirus has severely affected the expansion of various energy generation
industries.
§
The worldwide lockdown has forced governments
to shut down power plants to prevent the spread of the virus.
§
Moreover, the lack
of manpower has forced the companies to shut down their facilities to curb the
spread of the virus.
§
Supply chain
disruptions have created panic in countries that are dependable on other
nations for oil supply.
§
Similarly, various travel restrictions imposed
by governments have reduced the consumption of fuel.
§
These factors are responsible
for the decline in demand for aero derivative gas turbine over the forecast
period.
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Top impacting factors:
Market scenario analysis, trends, and drivers:
v
High investments
toward regenerative turbines coupled with favorable government guidelines, such
as incentives, subsidies, and tax rebates, are expected to propel the business
scenario.
v Rapid industrialization coupled with an upward push in
cognizance technology to fulfill demand for power across the world is expected
to further boost the global aero derivative gas turbine market over the
forecast period.
v Growing adoption
of new technology throughout gas-fired turbines in line with growing
investments closer to the aircraft fleet sector positively impact the product
deployment.
v Furthermore, rapid technical enhancement due to
performance, flexibility, and longer life span improves the aero derivative gas
turbine market growth.
v However, the presence of a confined range of
manufacturers toward the rise in demand for aero derivative gas turbines is
projected to restrain the growth of the market in the near future.
v
Low carbon
footprint, lightweight, quick maintenance downtime, and high cycle flexibility
related to aero derivative gas turbines are predicted to enhance the growth of
the market over the forecast period.
v
Furthermore, growing
applicability of efficient re-generative generators across numerous
manufacturing institutions is expected to augment the product deployment.
v
Rising investments across the oil & gas
industry due to flexible operation, cost effectiveness, and longer product life
are expected to propel the product adoption.
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