Global gas turbines market is anticipated to grow during the forecast period, due to the increasing focus on reducing carbon footprint and low prices of shale gas. Moreover, increasing trend of the distributed power generation and government initiatives to increase electricity generation based on natural gas are propelling the growth of the market. Based on the technology, the combined cycle technology dominated the market in 2020 and is expected to witness significant growth during the forecast period due to the use of waste heat energy to produce additional electricity with the assistance of steam turbines.
Some of the leading players in the global gas turbines market are GE, Siemens, BHEL, Ansaldo, Kawasaki Heavy Industries, Centrax, Zorya, Vericor Power, OPRA, Harbin Electric, Man Diesel etc.
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