Selbyville, Delaware, Aug. 15, 2022 (GLOBE NEWSWIRE) —
The industrial gas turbine market size is expected to record a valuation of USD 9.5 billion by 2030, according to the most recent study by Global Market Insights Inc. Increasing need for energy-efficient systems to keep pace with rapid urbanization and global energy demand will drive the market trends.
A growing focus on the development of gas-fired power plants, LNG regasification and an overall positive outlook toward natural gas as a fuel will augment the equipment demand. Stringent emission norms for the reduction of greenhouse gases and reforms towards strengthening energy security will favor the installation gas-powered electricity generation. Rising awareness about environmental protection along with a surge in the adoption of advanced auxiliary technologies will consolidate the industrial gas turbine market outlook.
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The COVID-19 crisis had resulted in a fluctuating demand and supply of energy, especially from the industrial sector. It affected the total power consumption worldwide, invariably affecting the deployment of gas turbines. With an increasing focus on energy optimization and sustainability among the utilities, the sector will expand over the coming years, with the impact of the coronavirus pandemic declining.
The aero-derivative industrial gas turbine market is estimated to attain 6.1%…
