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.

Industrial & Marine Gas Turbine Data: 15-Year Forecast 2018-2032

The world market for Industrial and Marine Gas & Steam Turbines is quite complex and occupies a large portion of the production capacity of several very large firms in Europe, Asia, and the United States. This activity is rapidly becoming ever more important, as gas and steam turbines (often in combined cycle applications) are increasingly sought as prime movers for application within the world's power and energy industries.

Faced with potential global warming as well as pollution problems, the energy industry is phasing out hundreds of coal burning plants in favor of clean burning gas turbines powered by natural gas or other fuels that provide far less noxious emissions. At the same time, many countries, having experienced or witnessed harrowing near disaster nuclear scenarios, have made the decision to phase out nuclear facilities in favor of much safer and controllable gas turbines.

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 2018-2032

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 recently, 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, which buys a variety of aircraft from various manufacturers and then leases them to airlines. More recently, GE announced that it will spin off its healthcare division and sell its stake in oil services group, Baker Hughes, best known by its appropriate stock symbol "RIG." GE also sold its distributed power business to private equity firm Advent International for $3.25 billion. The transaction includes Distributed Power’s Jenbacher and Waukesha engines, as well as manufacturing sites in Austria, Canada and the U.S. The unit produces reciprocating gas engines that are used to generate electricity in remote locations.

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 2018 through 2032, in just its Gas and Steam-powered Electrical Generation business, GE Energy will command 46.3% of the world market, valued at $80.78 Billion, while its small subsidiary, GE Oil and Gas, in Italy, will add another 1.25 Billion. All told, GE's market share will total over 47%, with a value in excess of $82 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 major competition will come from Siemens in Europe, with 26.1%, followed by Mitsubishi Hitachi Power Systems in Japan, with 12.5%.

Forecast International - Value Shares by Manufacturer - Industrial & Marine Gas Turbines 2018-2032

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 will experience 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 2032 and beyond.

World Distribution by End-User - The second pie graph provides an interesting illustration of the end-user distribution of these systems through 2027. It is noteworthy that while North America and Europe 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 2018-2027

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.

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