Industrial & Marine Gas
and Steam Turbines

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Welcome to the PowerWeb Industrial and Marine Gas & Steam Turbine data and information section. On this page, we provide detailed charts and data from Forecast International's Industrial & Marine Turbine Forecast. The data covers the world market for industrial and marine gas & steam turbines, including mechanical drives and engines used for power generation. We also list the top 10 manufacturers and top 10 engine models both by sales values and units.

Market Highlights Sales USD Total Units Electric Power Gen. (Gas) Mechanical Drives (Gas) Ind. Steam Turbines Marine (Gas)
2019 Forecast: 16.51B 787 335 231 134 87
2018 Actuals: 18.53B 842 372 227 140 103
2018-2019 Change -10.9% -6.5% -9.9% +1.8% -4.3% -15.5%
Gas Turbines, Power Generation (excl. micro) Mechanical Drive Turbines Steam Turbines - Comb. Cycle (CC) Marine Gas Turbine Engines
5-Year Industrial and Marine Gas & Steam Turbine Engine Data

Industrial & Marine Gas Turbine Data: 15-Year Forecast 2019-2033

In today's an energy-hungry world, Forecast International's Industrial & Marine Turbine Forecast (Gas & Steam) features detailed coverage of simple- and combined-cycle power generation turbines, mechanical drive equipment used in the oil and gas industry, and marine propulsion units, providing unique insight into the market trends that dominate the I&M sector and the operational requirements that drive those trends. On this page, we provide a snapshot of the I&M forecast data and hope you will find it useful and consider purchasing the full product.

The full Industrial & Marine Turbine Forecast (Gas & Steam) covers turbines ranging from 1,200 kW to over 300 MW in power. Each report comes complete with tech data, prime and affiliated contractor listings, descriptions of engine variants, and news on notable contracts. Covers leading programs such as the LM2500, the GE Model 9000, the Mitsubishi 501/701, the Rolls-Royce MT30, the Solar Titan, the Rolls-Royce MT7, and the Siemens SGT-8000H/SGT6-8000H, SGT400, and SGT800, and also features reports on Capstone microturbines.

Industrial and Marine Gas & Steam Turbine Forecast

Production of Industrial and Marine Turbine Engines - Data and Analysis

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Industrial and Marine Gas & Steam Turbine Forecast - Sales Values 2019-2033

ANALYSIS: GENERAL ELECTRIC TO RETAIN COMMANDING LEAD IN WORLD POWER MARKETS /// SIEMENS IN STRONG SECOND PLACE

By Stuart Slade, Gas Turbine Systems Analyst,
Forecast International


General Electric has been much in the news in the past few years, as it seeks to bolster its sagging financial posture by spinning off many segments of its overall business. Earlier divestitures included NBC Universal, its appliance business, and much of GE Capital – the finance arm that devastated the company during the financial crisis. The company has held on to its aircraft leasing operation, GE Capital Aviation Services (GECAS), which buys a variety of aircraft from various manufacturers and then leases them to airlines. More recently, GE announced that it has completed substantially all of its $20 billion industrial asset sale plan. In February 2019, GE also announced the sale of its BioPharma business to Danaher Corporation for more than $21 billion. GE has further options to generate cash to help bring down leverage, including its remaining 50.4% interest in oilfield service provider, Baker Hughes. During 2018, GE also took the painful decision to reduce its quarterly dividend to just 1 cent per share allowing the company to retain about $4 billion of cash per year compared to the former payout level.

However, the company has wisely elected to retain its world Energy business in which it holds a dominant position in many segments. Illustrative of this is its present and projected position in the world Market for Gas and Steam-powered Electrical Generation Systems.

Commanding Market Position - Analysts at Forecast International, who track world turbine markets in intimate detail, project that over the period 2019 through 2033, in just its Gas and Steam-powered Electrical Generation business, GE Energy will command 46.4% of the world market or $72.7 Billion, while its subsidiary Baker Hughes in Italy, will add another 1.5 Billion. All told, GE's market share will total 47.3%, with a value in excess of $74 billion. This figure is based on the production value of the installed power systems alone, and does not include the revenues from maintenance and overhaul, spare parts, components, and other special contracting business. As shown, there are many small manufacturers, but GE's main competition will come from Siemens in Europe, with 20.8%, followed by Mitsubishi Hitachi Power Systems (MHPS) in Japan, with 16.4%.

Forecast International - Value Shares by Manufacturer - Industrial & Marine Gas Turbines 2019-2033

Long Term Trend - The growth outlook in this segment is an optimistic one. As demonstrated in the bar graph, the world Power Generation market is currently impacted by an excess of unsold inventory and is going through a short term dip, after which growing world demand for ever more electrical power will absorb this over-capacity and generate a solid growth pattern through 2033 and beyond.

World Distribution by End-User - The second pie graph provides an interesting illustration of the end-user distribution of these systems through 2028. It is noteworthy that while North America will comprise the largest market for the relatively near term, we expect the relative market share of Asia to grow much more rapidly over time, as China, India, and other rapidly developing countries create new demand for power.

Forecast International - Value Shares by Region - Industrial & Marine Gas Turbines 2019-2028

Note: The data and graphs used in this article were produced from Forecast International's Platinum Forecast System in just a few minutes.

Please feel free to use this content with Forecast International and analyst attributions, along with a link to the article. Contact Ray Peterson at +1 (203) 426-0800 or via email at ray.peterson@forecast1.com for additional analysis.

Forecast International - Platinum Forecast System

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