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 following market segments: Gas Turbine Electrical Power Generation, Microturbine Electrical Power Generation, Gas Turbine Mechanical Drive Engines, Gas Turbine Marine Engines, and Steam Turbines for Combined-Cycle Installation.
| Market Highlights | Total Units | Electric Power Gen. (Gas) | Mechanical Drives (Gas) | Ind. Steam Turbines | Marine (Gas) |
| 2021 Forecast: | 735 | 351 | 255 | 61 | 68 |
| 2020 Actuals: | 693 | 327 | 226 | 60 | 80 |
| 2020-2021 Change | +6% | +7.3% | +12.8% | +1.6% | -15% |
| Gas Turbines, Power Generation (excl. micro) | Mechanical Drive Engines | Steam Turbines - Combined Cycle | Gas Turbine Marine Engines |
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Industrial & Marine Gas Turbine Data: 15-Year Forecast 2021-2035 |
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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. The forecast covers leading programs such as the LM2500, the GE Model 9000, the Mitsubishi 501/701, the Rolls-Royce MT7 and MT30, the Solar Titan, and the Siemens SGT-8000H/SGT6-8000H, SGT400, and SGT800, and also features reports on Capstone microturbines. |
Production of Industrial and Marine Turbine Engines - Data and Analysis |
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In light of the current upheaval in the world economy due to COVID-19, Forecast International projects that Industrial & Marine Gas and Steam Turbine Engine markets - valued at $12.26 billion in 2020 - will remain flat in 2021. In 2021 Forecast International projects that sales will come in at $12.54 billion. From 2022, a return to growth is projected with annual sales values surpassing the $19 billion mark by 2028. By the end of the current 15-year forecast period, in 2035, annual sales of $23.3 billion are expected.
General Electric (GE), which has had more than its share of operational and financial troubles in recent years, will retain a commanding lead in Industrial & Marine Gas and Steam Turbine Engine markets with a value share of 36.9% over the next 15 years out to 2035. Siemens follows in second place with with a 23.3% market share ahead of Mitsubishi Hitachi Power Systems (MHPS) with 12.7%.
GE's share of additional installed capacity in megawatts (MWs) over the next 15 years out to 2034 is projected to come in at almost 50%, with Siemens well behind at 19.6% and MHPS at a distant 12.0%.
GE's position in the gas turbine-powered electrical generation marketplace:
GE is one of the most diversified gas turbine engine and machine manufacturers in the world. In the gas turbine-powered electrical generation marketplace, its product line spans the power range of 2-256 MW in simple-cycle mode. Despite this presence, the company has seen its position in the market ebb slightly as Siemens absorbed the power generation range of Rolls-Royce and Mitsubishi-Hitachi moved to exploit its expanded product range. GE is addressing this competition by continuously enhancing its product range to exploit developing technology. The LM6000 has been continually improved in efficiency and emissions levels for the power generation market , especially with use of the steam injection process. GE's Frame series of engines is also being improved, through technology injection from the CF6 and GE90 turbofan programs.
Yet, for all its market strength, GE has been hit hard by the economic forces described earlier in this analysis. It has been forced into a major restructuring exercise that has seen major reductions in its staff levels and the divestiture of a number of subsidiaries. Most notable of these is GE Oil & Gas , which was merged into the Baker Hughes subsidiary prior to being sold off or liquidated. The result of this major retrenchment was that GE was severely condemned by stock market analysts and its share price has suffered accordingly.
Yet, from an industrial analysis perspective, much of this criticism appears misplaced and concentrates on the problems GE has experienced without allowing for the fact that these are common to the power generation equipment industry as a whole, or that the company has major strengths to sustain it through a difficult readjustment period. One of the most significant of these is the company's established business, licensee, and packaging agreements with more than 30 firms worldwide. That effort has broadened the geographic appeal of its units while simultaneously tapping the technological expertise of many firms. These agreements also create a market opportunity to counter-trade – that is, exploit growing opportunities in one area to offset developing weaknesses in others. The ability to counter-trade in geographical terms is matched by GE's ability to do the same in technology exploitation. For example, the harsh market conditions facing its traditional large-frame gas turbines are being offset by the manufacture of the GE LM500, LM2500, LM6000 and LM9000 gas turbines.
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.
The Platinum Forecast System®, a breakthrough in forecasting technology, provides real-time 15-year market forecasts. Platinum is a user-driven, online interface that allows you to quickly create customized market assessments that identify both risk and future opportunities. With its immediate graphical solutions to queries and supporting data tables, Platinum can expedite your research, boosting efficiency while enhancing the accuracy of your results. Users can select up to 25 years of data inclusive of 10 years of historical production and 15-year forecasts. Platinum is available 24/7, and is updated in real time, facilitating instant delivery of late-breaking information to users all over the world via the Internet. Click the image above for more information and a FREE demo.
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