Deployment of these medium-sized turbines is spurred by the need to repower existing infrastructure, or set up new integrated gasification combined cycle (IGCC) and combined cycle power with over 60% efficiency.
As combustion systems adopt a multi-fuel approach, combining natural gas, propane and distillate oil. Aalysts expect these technical variations across combustion systems will enhance the product applicability and further increase demand.
Growing environmental awareness and a subsequent trend to sustainable energy also spurs demand for hybrid power solutions, combining flexible gas turbines, renewables and energy storage.
Upstream sector drives demand
Rising upstream spending, notably in unconventional oil and gas resources, are expected to drive the related gas turbine market to an estimated $1.2 billion, growing at 3.5 percent annually through 2024. Major suppliers in this sector are GE, Siemens, Mitsubishi Heavy Industries, Solar Turbines, and Kawasaki Heavy Industries.
Gas turbines for mechanical drive is will witness highest growth from use in the offshore platforms and for remote exploration. By turbine size, the ‘1-20 MW’ turbine will remain most widely used but the turbine size ’20 MW and above’ will see the highest growth, as the industry prefers high efficiency over a small turbine footprint.