Dallas, TX (PRWEB) May 14, 2013
Despite the uncertainty surrounding the country’s regulatory scenario and the overcapacity of some Combined Cycle Gas Turbine (CCGT) plants, the US is expected to remain the largest market for gas turbines in 2020, says the latest research report.
The company’s latest publication anticipates US gas turbine revenue to plummet in the near future, from $1.4 billion in 2012 to $231m in 2018. However, a large-scale decommissioning of coal burning power plants will drive the need for more environmentally friendly gas-fired alternatives and push the US market value back up to $852m in 2020 forecasts.
China’s gas turbine industry, however, can expect to demonstrate a much steadier rate of growth until the end of the decade, with revenue climbing from last year’s total of $456m to $842m in 2020.
Market revenue gains within China will be spurred on by the nation’s rising electricity demand and the continued implementation of a fuel diversification strategy aimed at reducing a burdensome dependence on coal.
Get a copy of this report @ http://www.rnrmarketresearch.com/gas-turbines-for-thermal-power-2013-update-global-market-size-average-pricing-equipment-segmentation-and-competitive-landscape-analysis-to-2020-market-report.html
Until 2004, there was virtually no gas-fired power generation in China, but with several long distance pipelines that came online between 2010 and 2011, and a number of new pipelines and Liquefied Natural Gas (LNG) import terminals currently either at planning or construction stages, the country’s gas turbine sector looks set to exhibit significant expansion in the foreseeable future.
This research anticipates world gas turbine revenue to remain relatively stable in the coming years. Average annual global market revenue stood at $12.4 billion during 2006–2012 and is forecast to reach $11.8 billion for the period 2013-2020.
This report provides an in depth analysis of gas turbine market in China, the US, India, Indonesia, the UK, Germany, Brazil and Saudi Arabia.
Purchase a copy of this report @ http://www.rnrmarketresearch.com/contacts/purchase?rname=94519
Browse more reports on Power Market @ http://www.rnrmarketresearch.com/reports/energy-power/energy/power
RnRMarketResearch.com (http://www.rnrmarketresearch.com/) is an online database of market research reports offers in-depth analysis of over 5000 market segments. The library has syndicated reports by leading market research publishers across the globe and also offer customized market research reports for multiple industries.