Industrial Gas Turbine Ignition System Market by Application and Geography - Forecast and Analysis 2022-2026

Published: May 2022 Pages: 142 SKU: IRTNTR73535

Based on Technavio's market sizing methodology, the industrial gas turbine ignition market size is predicted to surge to USD 2.36 billion from 2021 to 2026 at a CAGR of 10.98%.

This industrial gas turbine ignition system market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. The industrial gas turbine ignition system market report offers information on several market vendors, including Ansaldo Energia Spa, Champion Aerospace LLC, Chentronics LLC, General Electric Co., HOERBIGER Holding AG, Kawasaki Heavy Industries Ltd., MAN Energy Solutions SE, Meggitt Plc, Mitsubishi Heavy Industries Ltd., Siemens AG, Tenneco Inc., TESI GROUP spa, and Woodward Inc. among others.

This report further entails industrial gas turbine ignition system market segmentations, including:

  • Application - Power generation and mechanical drive
  • Geography - APAC, North America, Europe, Middle East and Africa, and South America

What will the Industrial Gas Turbine Ignition System Market Size be During the Forecast Period?

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Industrial Gas Turbine Ignition System Market: Key Drivers, Trends, and Challenges

The operational efficiencies associated with industrial gas turbines is notably driving the industrial gas turbine ignition system market growth, although factors such as fluctuation in gasoline prices may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the industrial gas turbine ignition system industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Industrial Gas Turbine Ignition System Market Driver

The operational efficiencies associated with industrial gas turbines is one of the key drivers contributing to the industrial gas turbine ignition system market growth. In recent years, gas turbines have improved in terms of design and performance, becoming more durable and versatile and capable of processing a wide range of gas fuels. Moreover, they may be used in harsh conditions, and the individual components are simple to maintain. These features allow industrial gas turbines to run at high efficiency even when not fully loaded. Furthermore, gas turbine components are lighter compared to components of other turbines. Thus, the higher operational efficiencies of gas turbines over substitutes such as diesel turbines and steam turbines will drive the industrial gas turbine ignition systems market growth during the forecast period.

Key Industrial Gas Turbine Ignition System Market Trend

Development of hybrid energy systems for gas turbines is one of the key industrial gas turbine ignition system market trends supporting the market growth. Hybrid energy systems are highly suited for combined heat and power production or district heating as technological systems. The technology increases the efficiency of industrial gas turbines by allowing them to operate in a standby mode that does not require any fuel. It enables the system to respond more quickly to urgent grid needs, providing spinning reserves at low costs. Significantly, hybrid industrial gas turbines offer many benefits, such as providing dynamic capacity solutions with a fast start and stop and dynamic load management capabilities. Thus, the benefits of hybrid industrial gas turbine ignition systems, which enhance the efficiency of industrial gas turbine ignition systems, will positively influence the global industrial gas turbine ignition system market during the forecast period.

Key Industrial Gas Turbine Ignition System Market Challenge

Fluctuation in gasoline prices is one of the factors challenging the industrial gas turbine ignition system market growth. Primarily, gasoline prices are increasingly dependent on crude oil prices and the level of gasoline supply relative to the market demand. They are recording new heights every alternate day since the invasion of Russia in Ukraine in February 2022. On the other hand, gasoline prices increase with a decline in gasoline supply compared with its expected consumption. Any disruption in crude oil supplies or refinery operations can destabilize the prices further. These prices may fluctuate because of seasonal changes in demand as well. Thus, this can negatively impact the profitability of end-users and destabilize the demand for gas turbines among end-user industries and hamper the growth of the industrial gas turbine ignition system market in focus during the forecast period.

This industrial gas turbine ignition system market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global industrial gas turbine ignition system market as a part of the global electrical components and equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the industrial gas turbine ignition system market during the forecast period.

Who are the Major Industrial Gas Turbine Ignition System Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Ansaldo Energia Spa
  • Champion Aerospace LLC
  • Chentronics LLC
  • General Electric Co.
  • HOERBIGER Holding AG
  • Kawasaki Heavy Industries Ltd.
  • MAN Energy Solutions SE
  • Meggitt Plc
  • Mitsubishi Heavy Industries Ltd.
  • Siemens AG
  • Tenneco Inc.
  • TESI GROUP spa
  • Woodward Inc.

 

This statistical study of the industrial gas turbine ignition system market encompasses successful business strategies deployed by the key vendors. The industrial gas turbine ignition system market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • Ansaldoenergia.com - The company offers gas turbine ignition system with proven sequential combustion technology which produces lower emissions over a wide operation range with additional features like switching off the second combustor during periods of low power demands.
  • Championaerospace.com - The company offers ignition systems for military, business, regional and for commercial aircrafts which feature long-life igniters with advanced cooled and uncooled ignition leads and reliable exciter design that can increase the temperature capability above standard industry available solutions.
  • Ge.com - The company offers gas turbine ignition system in which fuel is ignited in turbine combustion chamber through a spark plug and ignition takes place throughout the chamber through cross fire tubes.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The industrial gas turbine ignition system market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Industrial Gas Turbine Ignition System Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the industrial gas turbine ignition system market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Industrial Gas Turbine Ignition System Market?

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31% of the market's growth will originate from APAC during the forecast period. China and India are the key markets for industrial gas turbine ignition system market in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Another key region offering significant growth opportunities to vendors is North America. The potential of the untapped market, primarily in emerging economies will facilitate the industrial gas turbine ignition system market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Application Segments in the Industrial Gas Turbine Ignition System Market?

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The industrial gas turbine ignition system market share growth by the power generation segment will be significant during the forecast period. Industrial gas turbines are a type of IC engine wherein the burning of an air-fuel blend generates hot gases that rotate a turbine to produce power. The production of hot gas during fuel combustion helps produce electricity. Gas turbines utilize a variety of fuels, including natural gas and synthetic fuels. As opposed to the fluctuating power generated in IC engines, in which combustion occurs intermittently, the combustion occurs continuously in gas turbines. This application of gas turbines in the power generation sector will drive the adoption of industrial gas turbine ignition systems during the forecast period. 

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 and actionable market insights on post COVID-19 impact on each segment.

 

Industrial Gas Turbine Ignition System Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 10.98%

Market growth 2022-2026

$ 2.36 billion

Market structure

Fragmented

YoY growth (%)

9.29

Regional analysis

APAC, North America, Europe, Middle East and Africa, and South America

Performing market contribution

APAC at 31%

Key consumer countries

US, China, India, Germany, and Brazil

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Ansaldo Energia Spa, Champion Aerospace LLC, Chentronics LLC, General Electric Co., HOERBIGER Holding AG, Kawasaki Heavy Industries Ltd., MAN Energy Solutions SE, Meggitt Plc, Mitsubishi Heavy Industries Ltd., Siemens AG, Tenneco Inc., TESI GROUP spa, and Woodward Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Industrial Gas Turbine Ignition System Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive industrial gas turbine ignition system market growth during the next five years
  • Precise estimation of the 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 across APAC, North America, Europe, Middle East and Africa, and South America
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of industrial gas turbine ignition system market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Application

    • 5.1 Market segments
      • Exhibit 24: Chart on Application - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on Application - Market share 2021-2026 (%)
    • 5.2 Comparison by Application
      • Exhibit 26: Chart on Comparison by Application
      • Exhibit 27: Data Table on Comparison by Application
    • 5.3 Power generation - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Power generation - Market size and forecast 2021-2026 ($ million)
      • Exhibit 29: Data Table on Power generation - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Chart on Power generation - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Power generation - Year-over-year growth 2021-2026 (%)
    • 5.4 Mechanical drive - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Mechanical drive - Market size and forecast 2021-2026 ($ million)
      • Exhibit 33: Data Table on Mechanical drive - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Chart on Mechanical drive - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Mechanical drive - Year-over-year growth 2021-2026 (%)
    • 5.5 Market opportunity by Application
      • Exhibit 36: Market opportunity by Application ($ million)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 38: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 39: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 40: Chart on Geographic comparison
      • Exhibit 41: Data Table on Geographic comparison
    • 7.3 APAC - Market size and forecast 2021-2026
      • Exhibit 42: Chart on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 43: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 44: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 45: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.4 North America - Market size and forecast 2021-2026
      • Exhibit 46: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 47: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 48: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 49: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.5 Europe - Market size and forecast 2021-2026
      • Exhibit 50: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 51: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 52: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.6 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 54: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 55: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.7 South America - Market size and forecast 2021-2026
      • Exhibit 58: Chart on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 59: Data Table on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 60: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.8 China - Market size and forecast 2021-2026
      • Exhibit 62: Chart on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 63: Data Table on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 64: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.9 US - Market size and forecast 2021-2026
      • Exhibit 66: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 67: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 68: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.10 India - Market size and forecast 2021-2026
      • Exhibit 70: Chart on India - Market size and forecast 2021-2026 ($ million)
      • Exhibit 71: Data Table on India - Market size and forecast 2021-2026 ($ million)
      • Exhibit 72: Chart on India - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on India - Year-over-year growth 2021-2026 (%)
    • 7.11 Brazil - Market size and forecast 2021-2026
      • Exhibit 74: Chart on Brazil - Market size and forecast 2021-2026 ($ million)
      • Exhibit 75: Data Table on Brazil - Market size and forecast 2021-2026 ($ million)
      • Exhibit 76: Chart on Brazil - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on Brazil - Year-over-year growth 2021-2026 (%)
    • 7.12 Germany - Market size and forecast 2021-2026
      • Exhibit 78: Chart on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 79: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 80: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 7.13 Market opportunity by geography
      • Exhibit 82: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 83: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 84: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 85: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 86: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 87: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 88: Matrix on vendor position and classification
            • 10.3 Ansaldo Energia Spa
              • Exhibit 89: Ansaldo Energia Spa - Overview
              • Exhibit 90: Ansaldo Energia Spa - Business segments
              • Exhibit 91: Ansaldo Energia Spa - Key news
              • Exhibit 92: Ansaldo Energia Spa - Key offerings
              • Exhibit 93: Ansaldo Energia Spa - Segment focus
            • 10.4 Champion Aerospace LLC
              • Exhibit 94: Champion Aerospace LLC - Overview
              • Exhibit 95: Champion Aerospace LLC - Product / Service
              • Exhibit 96: Champion Aerospace LLC - Key news
              • Exhibit 97: Champion Aerospace LLC - Key offerings
            • 10.5 General Electric Co.
              • Exhibit 98: General Electric Co. - Overview
              • Exhibit 99: General Electric Co. - Business segments
              • Exhibit 100: General Electric Co. - Key news
              • Exhibit 101: General Electric Co. - Key offerings
              • Exhibit 102: General Electric Co. - Segment focus
            • 10.6 Kawasaki Heavy Industries Ltd.
              • Exhibit 103: Kawasaki Heavy Industries Ltd. - Overview
              • Exhibit 104: Kawasaki Heavy Industries Ltd. - Business segments
              • Exhibit 105: Kawasaki Heavy Industries Ltd. - Key news
              • Exhibit 106: Kawasaki Heavy Industries Ltd. - Key offerings
              • Exhibit 107: Kawasaki Heavy Industries Ltd. - Segment focus
            • 10.7 MAN Energy Solutions SE
              • Exhibit 108: MAN Energy Solutions SE - Overview
              • Exhibit 109: MAN Energy Solutions SE - Product / Service
              • Exhibit 110: MAN Energy Solutions SE - Key offerings
            • 10.8 Meggitt Plc
              • Exhibit 111: Meggitt Plc - Overview
              • Exhibit 112: Meggitt Plc - Business segments
              • Exhibit 113: Meggitt Plc - Key news
              • Exhibit 114: Meggitt Plc - Key offerings
              • Exhibit 115: Meggitt Plc - Segment focus
            • 10.9 Mitsubishi Heavy Industries Ltd.
              • Exhibit 116: Mitsubishi Heavy Industries Ltd. - Overview
              • Exhibit 117: Mitsubishi Heavy Industries Ltd. - Business segments
              • Exhibit 118: Mitsubishi Heavy Industries Ltd. - Key news
              • Exhibit 119: Mitsubishi Heavy Industries Ltd. - Key offerings
              • Exhibit 120: Mitsubishi Heavy Industries Ltd. - Segment focus
            • 10.10 Siemens AG
              • Exhibit 121: Siemens AG - Overview
              • Exhibit 122: Siemens AG - Business segments
              • Exhibit 123: Siemens AG - Key news
              • Exhibit 124: Siemens AG - Key offerings
              • Exhibit 125: Siemens AG - Segment focus
            • 10.11 Tenneco Inc.
              • Exhibit 126: Tenneco Inc. - Overview
              • Exhibit 127: Tenneco Inc. - Business segments
              • Exhibit 128: Tenneco Inc. - Key news
              • Exhibit 129: Tenneco Inc. - Key offerings
              • Exhibit 130: Tenneco Inc. - Segment focus
            • 10.12 Woodward Inc.
              • Exhibit 131: Woodward Inc. - Overview
              • Exhibit 132: Woodward Inc. - Business segments
              • Exhibit 133: Woodward Inc. - Key news
              • Exhibit 134: Woodward Inc. - Key offerings
              • Exhibit 135: Woodward Inc. - Segment focus

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 136: Inclusions checklist
                • Exhibit 137: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 138: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 139: Research methodology
                • Exhibit 140: Validation techniques employed for market sizing
                • Exhibit 141: Information sources
              • 11.5 List of abbreviations
                • Exhibit 142: List of abbreviations

              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.

              INFORMATION 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

              DATA 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

              REPORT 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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              Key Questions Answered

              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?

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