Product Code: ETC089803 | Publication Date: Aug 2023 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 |
India Gas turbine Market registered a growth of 31.76% in value shipments in 2022 as compared to 2021 and an increase of 18.09% CAGR in 2022 over a period of 2017. In Gas turbine Market India is becoming more competitive as the HHI index in 2022 was 3249 while in 2017 it was 4624. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market. India has reportedly relied more on imports to meet its growing demand in Gas turbine Market.
India is unable to meet its increasing needs of this product with domestic production hence we see the trend is shifting towards import shipment to meet its demand The import factor of Gas turbine Market in 2022 was 1.03 while in 2017 it was 0.54. USA, United Kingdom, Poland, Canada and Singapore were among the top players of the market in 2022, where USA acquired the largest market share of 52.43% with a shipment value of 59.91 million USD in 2022 USA also offered the product below the average market price thus having a competitive advantage over others In 2017 USA had the largest market share of 64.33% with the shipment value of 20.57 million USD. The country was offering its product with an average price which is lower than the average market price offered in the country. As USAprice is lower than the average price, it provided a significant edge among other competitor in 2017.
The Outlook for the India gas turbine market is positive. The India government aims to increase the share of natural gas in its energy mix from 6.5% in 2018-19 to 15.5% by 2030, which will create a strong demand for efficient and reliable gas turbines in various sectors such as power generation, oil & gas exploration, and manufacturing industries.
The main drivers for the India Gas Turbine Market include growing industrialization, rising urban population and increased electricity consumption associated with the rapid economic growth of the country; increasing implementation of green and clean energy sources; government incentives such as tax holidays on investments in renewable energy projects; availability of cheaper financing options through export credit agencies; advancement in technology related to these systems resulting into more efficient operations and improved performance; high degree of customization offered by vendors based on individual customer requirements etc.
Despite these attractive prospects, there are some major challenges that need to be addressed before this market can reach its full potential. These include lack of awareness among consumers about advanced technologies available for better efficiency and reliability at lower cost points; inadequate infrastructure support required for setting up large scale installations due to problem related to land acquisition or resistance from local communities; regulatory issues like obtaining permits etc., shortage skilled labour force which understand installation procedures etc.. Also any environmental regulations imposed by authorities can restrict usage/deployment significantly adding extra costs on companies operating within their jurisdiction.
Some key players involved in IndiaGas Turbine market include Siemens Energy Inc., GE Power Services Corporation , Toshiba International Corporation , Mitsubishi Heavy Industries Ltd., Kawasaki Heavy Industries Ltd., Ansaldo Energia SPA (Ansaldo STS), Bharat Forge Limited (Kirloskar Group) , Bharat Heavy Electricals Limited (BHEL) , Suzlon Energy Ltd., Ingersoll Rand PLC.
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 India Gas turbine Market Overview |
3.1 India Country Macro Economic Indicators |
3.2 India Gas turbine Market Revenues & Volume, 2020 & 2027F |
3.3 India Gas turbine Market - Industry Life Cycle |
3.4 India Gas turbine Market - Porter's Five Forces |
3.5 India Gas turbine Market Revenues & Volume Share, By Technology, 2020 & 2027F |
3.6 India Gas turbine Market Revenues & Volume Share, By Application, 2020 & 2027F |
3.7 India Gas turbine Market Revenues & Volume Share, By Design Type, 2020 & 2027F |
3.8 India Gas turbine Market Revenues & Volume Share, By Capacity, 2020 & 2027F |
4 India Gas turbine Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 India Gas turbine Market Trends |
6 India Gas turbine Market, By Types |
6.1 India Gas turbine Market, By Technology |
6.1.1 Overview and Analysis |
6.1.2 India Gas turbine Market Revenues & Volume, By Technology, 2018 - 2027F |
6.1.3 India Gas turbine Market Revenues & Volume, By Open Cycle, 2018 - 2027F |
6.1.4 India Gas turbine Market Revenues & Volume, By Combined Cycle, 2018 - 2027F |
6.2 India Gas turbine Market, By Application |
6.2.1 Overview and Analysis |
6.2.2 India Gas turbine Market Revenues & Volume, By Power Generation, 2018 - 2027F |
6.2.3 India Gas turbine Market Revenues & Volume, By Oil & Gas, 2018 - 2027F |
6.2.4 India Gas turbine Market Revenues & Volume, By Other, 2018 - 2027F |
6.3 India Gas turbine Market, By Design Type |
6.3.1 Overview and Analysis |
6.3.2 India Gas turbine Market Revenues & Volume, By Heavy Duty, 2018 - 2027F |
6.3.3 India Gas turbine Market Revenues & Volume, By Aeroderivative, 2018 - 2027F |
6.4 India Gas turbine Market, By Capacity |
6.4.1 Overview and Analysis |
6.4.2 India Gas turbine Market Revenues & Volume, By ?200 MW, 2018 - 2027F |
6.4.3 India Gas turbine Market Revenues & Volume, By >200 MW, 2018 - 2027F |
7 India Gas turbine Market Import-Export Trade Statistics |
7.1 India Gas turbine Market Export to Major Countries |
7.2 India Gas turbine Market Imports from Major Countries |
8 India Gas turbine Market Key Performance Indicators |
9 India Gas turbine Market - Opportunity Assessment |
9.1 India Gas turbine Market Opportunity Assessment, By Technology, 2020 & 2027F |
9.2 India Gas turbine Market Opportunity Assessment, By Application, 2020 & 2027F |
9.3 India Gas turbine Market Opportunity Assessment, By Design Type, 2020 & 2027F |
9.4 India Gas turbine Market Opportunity Assessment, By Capacity, 2020 & 2027F |
10 India Gas turbine Market - Competitive Landscape |
10.1 India Gas turbine Market Revenue Share, By Companies, 2020 |
10.2 India Gas turbine Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |