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Industrial Gas Turbine Ignition System Market by Application and Geography - Global Forecast and Analysis 2019-2023

  • Published: Sep 2019
  • Pages: 151
  • SKU: IRTNTR32052
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The global industrial gas turbine ignition system market size will grow by USD 1.33 billion during 2019-2023. This market report provides a detailed analysis of the market by application (power generation and mechanical drive) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on many market vendors, including Ansaldo Energia Spa, General Electric Co., IHI Power Systems Co. Ltd., Kawasaki Heavy Industries Ltd., MAN SE, Meggitt Plc, Mitsubishi Heavy Industries Ltd., Siemens AG, Tenneco Inc., and Woodward Inc.

Key Insights on Industrial Gas Turbine Ignition System Market - Global Forecast 2019-2023

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Industry Overview

Industrial gas turbines are widely used across automotive and energy industries as propulsion systems. Gas turbines are more efficient, reliable, and fuel compatible compared with steam or piston engines. Moreover, gas turbines offer higher cost benefits associated with installation and operation. These beneficial factors will increase the adoption of industrial gas turbines, which, in turn, will augment the sales of industrial gas turbine ignition systems. In addition to the benefits of industrial gas turbines, the adoption of gas turbine ignition systems also offers benefits such as cost-effective conversion of natural resources to electricity and the ability to burn more than 50 types of gases and liquids. The operational efficiencies associated with industrial gas turbines is a major factor that will drive industrial gas turbine ignition system market during 2019-2023.

The digitalization of gas turbine operations is one of the industrial gas turbine ignition system market trends that will gain traction over the forecast period. In addition to enabling the companies to remotely control heavy-duty industrial machinery, digitalization also facilitates the easy transmission of significant volumes of data. Implementing digital solutions in industrial gas turbines reduces unplanned outages, which is helping in gaining a better return on capital. Additionally, digitalization also lowers operational expense for end-users. With the growing preference for digitalization, vendors are focusing on the development and integration of digital solutions into their products. Such factors will have a positive impact on the growth of the industrial gas turbine ignition system market, which will register a CAGR of over 8% over the forecast period.

Top Companies in Industrial Gas Turbine Ignition System Market

The global market is fragmented. To help clients improve their market positions, this industrial gas turbine ignition system market forecast report provides an analysis of the market’s competitive landscape and offers information on the products offered by various companies. The industrial gas turbine ignition system market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies in creating strategies to make the most of future growth opportunities.

The report offers a detailed analysis of several leading industrial gas turbine ignition systems manufacturers, including:

  • Ansaldo Energia Spa
  • General Electric Co.
  • IHI Power Systems Co. Ltd.
  • Kawasaki Heavy Industries Ltd.
  • MAN SE
  • Meggitt Plc
  • Mitsubishi Heavy Industries Ltd.
  • Siemens AG
  • Tenneco Inc.
  • Woodward Inc.

Market Segmentation

Industrial Gas Turbine Ignition System Market by Application

  • Power generation
  • Mechanical drive

The power generation segment held the largest market share in 2018. The segment will account for the highest industrial gas turbine ignition system market share over the forecast period as well. The benefits of using gas turbines over steam or piston turbines in the power generation sector will boost the growth of the market segment during the forthcoming years. This report provides an accurate prediction of the contribution of all the segments to the growth of the industrial gas turbine ignition system market size.

Industrial Gas Turbine Ignition System Market by Region

  • APAC
  • Europe
  • MEA
  • North America
  • South America

With a complete study of the growth opportunities for companies, it has been identified that APAC will account for the highest share of the industrial gas turbine ignition system market throughout the forecast period. Factors such as the significant demand for electricity in the region and low cost of gas as fuel in the power generation sector are contributing to the industrial gas turbine ignition system industry growth in the region.

Major Highlights of the Industrial Gas Turbine Ignition System Market - Global Forecast 2019-2023

  • CAGR of the market during the forecast period 2019-2023
  • Detailed information on factors that will accelerate the growth of the industrial gas turbine ignition system market during the next five years
  • Precise estimation of the global industrial gas turbine ignition system market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the industrial gas turbine ignition system industry APAC, Europe, MEA, North America, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on several vendors
  • Comprehensive details of factors that will challenge the growth of industrial gas turbine ignition system companies 

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PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

  • 2.1 Preface
  • 2.2 Preface
  • 2.3 Currency conversion rates for US$

PART 03: MARKET LANDSCAPE

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

PART 04: MARKET SIZING

  • Market definition
  • Market sizing 2018
  • Market size and forecast 2018-2023

PART 05: FIVE FORCES ANALYSIS

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

PART 06: MARKET SEGMENTATION BY APPLICATION

  • Market segmentation by application
  • Comparison by application
  • Power generation - Market size and forecast 2018-2023
  • Mechanical drive - Market size and forecast 2018-2023
  • Market opportunity by application

PART 07: CUSTOMER LANDSCAPE

PART 08: GEOGRAPHIC LANDSCAPE

  • Geographic segmentation
  • Geographic comparison
  • APAC - Market size and forecast 2018-2023
  • North America - Market size and forecast 2018-2023
  • Europe - Market size and forecast 2018-2023
  • MEA - Market size and forecast 2018-2023
  • South America - Market size and forecast 2018-2023
  • Key leading countries
  • Market opportunity

PART 09: DRIVERS AND CHALLENGES

  • Market drivers
  • Market challenges

PART 10: MARKET TRENDS

  • Development of hybrid energy systems for gas turbines
  • Digitalization of gas turbine operations
  • Increasing use of Arabian super light crude oil

PART 11: VENDOR LANDSCAPE

  • Overview
  • Landscape disruption
  • Competitive scenario

PART 12: VENDOR ANALYSIS

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Ansaldo Energia Spa
  • General Electric Co.
  • IHI Power Systems Co. Ltd.
  • Kawasaki Heavy Industries Ltd.
  • MAN SE
  • Meggitt Plc
  • Mitsubishi Heavy Industries Ltd.
  • Siemens AG
  • Tenneco Inc.
  • Woodward Inc.

PART 13: APPENDIX

  • Research methodology
  • List of abbreviations
  • Definition of market positioning of vendors

PART 14: EXPLORE TECHNAVIO

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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