Gas Turbines Market by Design Type (Heavy Duty & Aeroderivative), Rated Capacity (1-40 MW,40-120 MW,120-300 MW, & Above 300 MW), Application (Oil & Gas, Power & Other), Technology (Open Cycle & Combined Cycle), and Region – Forecast and Trends to 2020

“The gas turbines market is expected to reach USD 19.6 billion by 2020, at a CAGR of 3.9% during the forecast period. Increasing demand for electric power worldwide and subsequent investments in creating new generating capacity is driving the gas turbines market across the world. The shale gas boom in North America and decommissioning of nuclear plants in Europe are likely to boost the demand for gas turbines in these two regions. Meanwhile, the demand for gas turbines in the Middle East & Africa, Latin America, and Asia-Pacific would be influenced by the upcoming new gas-fired power plants as well as the upgrade of old existing thermal power plants.
Heavy duty (frame) type gas turbines dominate the global market:
The heavy duty (frame) type gas turbines segment accounted for more than two-third of the market. This can be attributed to the rise in large gas-fired power plants and the demand for heavy duty gas turbines that powers them. Combined cycle plants with heavy duty type of turbines enable high flexibility and low emissions even in part load operation. Though the heavy duty type gas turbine segment holds the largest share, the aeroderivative segment is projected to grow at the highest rate, owing to its higher efficiency and cost effectiveness.
Asia-Pacific: The largest market for gas turbines
The Asia-Pacific region is currently the largest market for gas turbines, followed by Europe and North America. Japan accounted for a majority share in Asia-Pacific in 2014, while China is projected to grow at the highest CAGR from 2015 to 2020. The slowdown in the nuclear power industry due to the Fukushima incident and continuing replacement of nuclear & aging coal plants with gas-fired ones would continue to drive the Japanese gas turbines market. In developing countries such as China and India, factors such as strong growth in demand for electricity fueled by high levels of urbanization, industrialization, & infrastructural developments and subsequent investments in developing new large-gas fired combined cycle power generation, apart from other power plants, would spur the demand for gas turbines.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject matter experts, C-level executives of key market players and industry consultants among other experts to obtain & verify critical qualitative and quantitate information as well as assess future market prospects. Distribution of primary interviews is as follows
By Company Type: Tier 1 – 55%, Tier 2 – 20% and Tier 3 – 25%
By Designation: C-Level – 35%, Director Level – 25% and Others* – 40%
By Region: Asia-Pacific – 40%, Middle East & Africa – 30%, Europe – 20% and Americas – 10%
Note: *Others include sales managers, marketing managers, and product managers
The tier of the companies is defined on the basis of their total revenue, as of 2014: Tier 1 =>USD 5 billion, Tier 2 = USD 1 billion to USD 5 billion, and Tier 3 =

“TABLE OF CONTENTS

1 INTRODUCTION 14
1.1 OBJECTIVES OF THE STUDY 14
1.2 MARKET DEFINITION 14
1.3 MARKETS COVERED 15
1.4 YEARS CONSIDERED FOR THE STUDY 15
1.5 CURRENCY 16
1.6 PACKAGE SIZE 16
1.7 LIMITATIONS 16
1.8 STAKEHOLDERS 16
2 RESEARCH METHODOLOGY 17
2.1 RESEARCH DATA 17
2.1.1 SECONDARY DATA 18
2.1.1.1 Key data from secondary sources 18
2.1.2 PRIMARY DATA 19
2.1.2.1 Key data from primary sources 19
2.1.2.2 Breakdown of primary interviews 20
2.2 MARKET SIZE ESTIMATION 20
2.3 MARKET BREAKDOWN & DATA TRIANGULATION 22
2.4 RESEARCH ASSUMPTIONS & LIMITATIONS 23
2.4.1 ASSUMPTIONS 23
2.4.2 LIMITATIONS 23
3 EXECUTIVE SUMMARY 24
3.1 INTRODUCTION 24
3.2 CURRENT SCENARIO 25
3.3 FUTURE TRENDS 27
3.4 CONCLUSION 28
4 PREMIUM INSIGHTS 29
4.1 ATTRACTIVE MARKET OPPORTUNITIES 29
4.2 GAS TURBINES MARKET: REGIONAL TRENDS (2015-2020) 30
4.3 GAS TURBINES MARKET: APPLICATION VS. RATED CAPACITY 31
4.4 GAS TURBINES MARKET, BY TECHNOLOGY 32
4.5 GAS TURBINES MARKET, BY DESIGN TYPE 33
4.6 LIFE CYCLE ANALYSIS: BY REGION 34
 
5 MARKET OVERVIEW 35
5.1 MARKET EVOLUTION 36
5.2 MARKET SEGMENTATION 37
5.2.1 BY TYPE 37
5.2.2 BY RATED CAPACITY 38
5.2.3 BY APPLICATION 38
5.2.4 BY TECHNOLOGY 39
5.2.5 BY REGION 39
5.3 MARKET DYNAMICS 40
5.3.1 DRIVERS 41
5.3.1.1 Increasing electricity demand 41
5.3.1.2 Shale gas production boom 42
5.3.1.3 Efficient generation technology 42
5.3.1.4 Lower carbon dioxide emissions 43
5.3.2 RESTRAINTS 44
5.3.2.1 Price disparity across regional markets 44
5.3.2.2 Supply security & infrastructure concerns 44
5.3.3 OPPORTUNITIES 45
5.3.3.1 Growing trend of distributed power generation 45
5.3.3.2 Replacement of phased out nuclear & coal plants 45
5.3.4 CHALLENGES 46
5.3.4.1 Limited natural gas reserves 46
5.4 SUPPLY CHAIN ANALYSIS 47
5.5 PORTER’S FIVE FORCES ANALYSIS 48
5.5.1 THREAT OF NEW ENTRANTS 49
5.5.1.1 High capital requirements 49
5.5.2 THREAT OF SUBSTITUTES 49
5.5.2.1 Competition from other generation technologies, particularly reciprocating engines 49
5.5.3 BARGAINING POWER OF SUPPLIERS 49
5.5.3.1 Dependence on regulatory policy in buyers’ market 49
5.5.3.2 Concentration of sellers in the market 50
5.5.4 BARGAINING POWER OF BUYERS 50
5.5.4.1 Influence of local regulations 50
5.5.4.2 Sellers looking for new growth avenues 50
5.5.5 INTENSITY OF RIVALRY 50
5.5.5.1 Equal-sized competitors 50
5.5.5.2 Large new orders expected from limited markets 50
 
6 GAS TURBINES MARKET, BY DESIGN TYPE 51
6.1 INTRODUCTION 52
6.2 HEAVY DUTY (FRAME) TYPE 53
6.3 AERODERIVATIVE TYPE 53
7 GAS TURBINES MARKET, BY RATED CAPACITY 55
7.1 INTRODUCTION 56
7.2 1-40 MW 57
7.3 40-120 MW 57
7.4 120-300 MW 58
7.5 ABOVE 300 MW 59
8 GAS TURBINES MARKET, BY APPLICATION 60
8.1 INTRODUCTION 61
8.2 POWER GENERATION 62
8.3 OIL & GAS 63
8.4 OTHER INDUSTRIAL 64
9 GAS TURBINES MARKET, BY TECHNOLOGY 65
9.1 INTRODUCTION 66
9.2 OPEN (SIMPLE) CYCLE 67
9.3 COMBINED CYCLE 68
10 GAS TURBINES MARKET, BY REGION 69
10.1 INTRODUCTION 70
10.2 ASIA-PACIFIC 73
10.2.1 BY DESIGN TYPE 75
10.2.2 BY RATED CAPACITY 75
10.2.3 BY APPLICATION 76
10.2.4 BY TECHNOLOGY 76
10.2.5 BY COUNTRY 77
10.2.5.1 China 77
10.2.5.2 India 78
10.2.5.3 Japan 78
10.2.5.4 South Korea 79
10.2.5.5 Rest of Asia-Pacific 79
10.3 EUROPE 80
10.3.1 BY DESIGN TYPE 80
10.3.2 BY RATED CAPACITY 80
10.3.3 BY APPLICATION 81
10.3.4 BY TECHNOLOGY 81
10.3.5 BY COUNTRY 82
10.3.5.1 Russia 82
10.3.5.2 U.K. 83
10.3.5.3 Italy 83
10.3.5.4 Germany 84
10.3.5.5 Rest of Europe 84
10.4 NORTH AMERICA 85
10.4.1 BY DESIGN TYPE 85
10.4.2 BY RATED CAPACITY 85
10.4.3 BY APPLICATION 86
10.4.4 BY TECHNOLOGY 86
10.4.5 BY COUNTRY 87
10.4.5.1 U.S. 87
10.4.5.2 Canada 88
10.5 MIDDLE EAST & AFRICA 88
10.5.1 BY DESIGN TYPE 88
10.5.2 BY RATED CAPACITY 89
10.5.3 BY APPLICATION 89
10.5.4 BY TECHNOLOGY 90
10.5.5 BY COUNTRY 90
10.5.5.1 Saudi Arabia 91
10.5.5.2 UAE 91
10.5.5.3 Iran 92
10.5.5.4 Egypt 92
10.5.5.5 Rest of the Middle East & Africa 93
10.6 LATIN AMERICA 93
10.6.1 BY DESIGN TYPE 93
10.6.2 BY RATED CAPACITY 94
10.6.3 BY APPLICATION 94
10.6.4 BY TECHNOLOGY 95
10.6.5 BY COUNTRY 95
10.6.5.1 Mexico 96
10.6.5.2 Argentina 96
10.6.5.3 Brazil 97
10.6.5.4 Rest of Latin America 97
11 COMPETITIVE LANDSCAPE 98
11.1 OVERVIEW 99
11.2 COMPETITIVE SITUATION & TRENDS 100
11.3 CONTRACTS & AGREEMENTS 103
 
11.4 EXPANSIONS 104
11.5 NEW PRODUCT LAUNCHES 104
11.6 MERGERS & ACQUISITIONS 105
11.7 OTHER DEVELOPMENTS 106
12 COMPANY PROFILES 107
(Company at a Glance, Recent Financials, Products & Services, Strategies & Insights, & Recent Developments)*
12.1 INTRODUCTION 107
12.2 GENERAL ELECTRIC COMPANY 108
12.3 SIEMENS AG 111
12.4 MITSUBISHI HITACHI POWER SYSTEMS, LTD. 114
12.5 ALSTOM S.A. 116
12.6 KAWASAKI HEAVY INDUSTRIES, LTD. 119
12.7 BHARAT HEAVY ELECTRICALS LIMITED 123
12.8 ANSALDO ENERGIA S.P.A. 125
12.9 HARBIN ELECTRIC INTERNATIONAL COMPANY LIMITED 127
12.10 MAN DIESEL & TURBO SE 128
12.11 OPRA TURBINES B.V. 130
12.12 SOLAR TURBINES INCORPORATED 132
12.13 VERICOR POWER SYSTEMS LLC 133
*Details on company at a glance, recent financials, products & services, strategies & insights, & recent developments might not be captured in case of unlisted companies.
13 APPENDIX 134
13.1 INSIGHTS OF INDUSTRY EXPERTS 134
13.2 DISCUSSION GUIDE 135
13.3 RECENT DEVELOPMENTS 137
13.4 INTRODUCING RT: REAL TIME MARKET INTELLIGENCE 147
13.5 AVAILABLE CUSTOMIZATIONS 148
13.6 RELATED REPORTS 148
“
“LIST OF TABLES

TABLE 1 SHALE GAS BOOM & EFFICIENT ELECTRICITY GENERATION TECHNOLOGY OF COMBINED CYCLE GAS POWER PLANTS ARE PROPELLING THE GROWTH OF THE GAS TURBINES MARKET 43
TABLE 2 PRICE DISPARITY ACROSS REGIONAL MARKETS & CONCERNS ABOUT STABLE GAS SUPPLY RESTRAIN MARKET GROWTH 44
TABLE 3 GROWING DISTRIBUTED GENERATION & NUCLEAR PHASE-OUT ARE OPPORTUNITIES FOR THE GAS TURBINES MARKET 46
TABLE 4 LIMITED NATURAL GAS RESERVES IS A CHALLENGE 47
TABLE 5 GAS TURBINES MARKET SIZE, BY DESIGN TYPE, 2013-2020 (USD MILLION) 52
TABLE 6 HEAVY DUTY GAS TURBINES MARKET SIZE, BY REGION, 2013-2020 (USD MILLION) 53
TABLE 7 AERODERIVATIVE GAS TURBINES MARKET SIZE, BY REGION, 
2013-2020 (USD MILLION) 54
TABLE 8 GAS TURBINES MARKET SIZE, BY RATED CAPACITY, 2013-2020 (USD MILLION) 56
TABLE 9 1-40 MW GAS TURBINES MARKET SIZE, BY REGION, 2013-2020 (USD MILLION) 57
TABLE 10 40-120 MW GAS TURBINES MARKET SIZE, BY REGION, 2013-2020 (USD MILLION) 57
TABLE 11 120-300 MW GAS TURBINES MARKET SIZE, BY REGION, 
2013-2020 (USD MILLION) 58
TABLE 12 ABOVE 300 MW GAS TURBINES MARKET SIZE, BY REGION, 
2013-2020 (USD MILLION) 59
TABLE 13 GAS TURBINES MARKET SIZE, BY APPLICATION, 2013–2020 (USD MILLION) 61
TABLE 14 POWER GENERATION: GAS TURBINES MARKET SIZE, BY REGION, 
2013–2020 (USD MILLION) 62
TABLE 15 OIL & GAS: GAS TURBINES MARKET SIZE, BY REGION, 2013–2020 (USD MILLION) 63
TABLE 16 OTHER INDUSTRIAL: GAS TURBINES MARKET SIZE, BY REGION, 
2013–2020 (USD MILLION) 64
TABLE 17 GAS TURBINES MARKET SIZE, BY TECHNOLOGY, 2013-2020 (USD MILLION) 67
TABLE 18 OPEN (SIMPLE) CYCLE: GAS TURBINES MARKET SIZE, BY REGION, 
2013-2020 (USD MILLION) 67
TABLE 19 COMBINED CYCLE: GAS TURBINES MARKET SIZE, BY REGION, 
2013-2020 (USD MILLION) 68
TABLE 20 GAS TURBINES MARKET SIZE, BY REGION, 2013–2020 (USD MILLION) 72
TABLE 21 ASIA-PACIFIC: GAS TURBINES MARKET SIZE, BY DESIGN TYPE, 
2013–2020 (USD MILLION) 75
TABLE 22 ASIA-PACIFIC: GAS TURBINES MARKET SIZE, BY RATED CAPACITY, 
2013–2020 (USD MILLION) 75
TABLE 23 ASIA-PACIFIC: GAS TURBINES MARKET SIZE, BY APPLICATION, 
2013–2020 (USD MILLION) 76
TABLE 24 ASIA-PACIFIC: GAS TURBINES MARKET SIZE, BY TECHNOLOGY, 
2013–2020 (USD MILLION) 76
TABLE 25 ASIA-PACIFIC: GAS TURBINES MARKET SIZE, BY COUNTRY, 
2013–2020 (USD MILLION) 77
TABLE 26 CHINA: GAS TURBINES MARKET SIZE, BY TECHNOLOGY, 
2013–2020 (USD MILLION) 77
TABLE 27 INDIA: GAS TURBINES MARKET SIZE, BY TECHNOLOGY, 
2013–2020 (USD MILLION) 78
TABLE 28 JAPAN: GAS TURBINES MARKET SIZE, BY TECHNOLOGY, 
2013–2020 (USD MILLION) 78
TABLE 29 SOUTH KOREA: GAS TURBINES MARKET SIZE, BY TECHNOLOGY, 
2013–2020 (USD MILLION) 79
TABLE 30 REST OF ASIA-PACIFIC: GAS TURBINES MARKET SIZE, BY TECHNOLOGY, 
2013–2020 (USD MILLION) 79
TABLE 31 EUROPE: GAS TURBINES MARKET SIZE, BY DESIGN TYPE, 
2013–2020 (USD MILLION) 80
TABLE 32 EUROPE: GAS TURBINES MARKET SIZE, BY RATED CAPACITY, 
2013–2020 (USD MILLION) 80
TABLE 33 EUROPE: GAS TURBINES MARKET SIZE, BY APPLICATION, 
2013–2020 (USD MILLION) 81
TABLE 34 EUROPE: GAS TURBINES MARKET SIZE, BY TECHNOLOGY, 
2013–2020 (USD MILLION) 81
TABLE 35 EUROPE: GAS TURBINES MARKET SIZE, BY COUNTRY, 2013–2020 (USD MILLION) 82
TABLE 36 RUSSIA: GAS TURBINES MARKET SIZE, BY TECHNOLOGY, 
2013–2020 (USD MILLION) 82
TABLE 37 U.K.: GAS TURBINES MARKET SIZE, BY TECHNOLOGY, 2013–2020 (USD MILLION) 83
TABLE 38 ITALY: GAS TURBINES MARKET SIZE, BY TECHNOLOGY, 
2013–2020 (USD MILLION) 83
TABLE 39 GERMANY: GAS TURBINES MARKET SIZE, BY TECHNOLOGY, 
2013–2020 (USD MILLION) 84
TABLE 40 REST OF EUROPE: GAS TURBINES MARKET SIZE, BY TECHNOLOGY, 
2013–2020 (USD MILLION) 84
TABLE 41 NORTH AMERICA: GAS TURBINES MARKET SIZE, BY DESIGN TYPE, 
2013–2020 (USD MILLION) 85
TABLE 42 NORTH AMERICA: GAS TURBINES MARKET SIZE, BY RATED CAPACITY, 
2013–2020 (USD MILLION) 85
TABLE 43 NORTH AMERICA: GAS TURBINES MARKET SIZE, BY APPLICATION, 
2013–2020 (USD MILLION) 86
TABLE 44 NORTH AMERICA: GAS TURBINES MARKET SIZE, BY TECHNOLOGY, 
2013–2020 (USD MILLION) 86
TABLE 45 NORTH AMERICA: GAS TURBINES MARKET SIZE, BY COUNTRY, 
2013–2020 (USD MILLION) 87
TABLE 46 U.S.: GAS TURBINES MARKET SIZE, BY TECHNOLOGY, 2013–2020 (USD MILLION) 87
TABLE 47 CANADA: GAS TURBINES MARKET SIZE, BY TECHNOLOGY, 
2013–2020 (USD MILLION) 88
TABLE 48 MIDDLE EAST & AFRICA: GAS TURBINES MARKET SIZE, BY DESIGN TYPE, 
2013–2020 (USD MILLION) 88
TABLE 49 MIDDLE EAST & AFRICA: GAS TURBINES MARKET SIZE, BY RATED CAPACITY, 2013–2020 (USD MILLION) 89
TABLE 50 MIDDLE EAST & AFRICA: GAS TURBINES MARKET SIZE, BY APPLICATION, 
2013–2020 (USD MILLION) 89
TABLE 51 MIDDLE EAST & AFRICA: GAS TURBINES MARKET SIZE, BY TECHNOLOGY, 
2013–2020 (USD MILLION) 90
TABLE 52 MIDDLE EAST & AFRICA: GAS TURBINES MARKET SIZE, BY COUNTRY, 
2013–2020 (USD MILLION) 90
TABLE 53 SAUDI ARABIA: GAS TURBINES MARKET SIZE, BY TECHNOLOGY, 
2013–2020 (USD MILLION) 91
TABLE 54 UAE: GAS TURBINES MARKET SIZE, BY TECHNOLOGY, 2013–2020 (USD MILLION) 91
TABLE 55 IRAN: GAS TURBINES MARKET SIZE, BY TECHNOLOGY, 2013–2020 (USD MILLION) 92
TABLE 56 EGYPT: GAS TURBINES MARKET SIZE, BY TECHNOLOGY, 
2013–2020 (USD MILLION) 92
TABLE 57 REST OF THE MIDDLE EAST & AFRICA: GAS TURBINES MARKET SIZE, 
BY TECHNOLOGY, 2013–2020 (USD MILLION) 93
TABLE 58 LATIN AMERICA: GAS TURBINES MARKET SIZE, BY DESIGN TYPE, 
2013–2020 (USD MILLION) 93
TABLE 59 LATIN AMERICA: GAS TURBINES MARKET SIZE, BY RATED CAPACITY, 
2013–2020 (USD MILLION) 94
TABLE 60 LATIN AMERICA: GAS TURBINES MARKET SIZE, BY APPLICATION, 
2013–2020 (USD MILLION) 94
TABLE 61 LATIN AMERICA: GAS TURBINES MARKET SIZE, BY TECHNOLOGY, 
2013–2020 (USD MILLION) 95
TABLE 62 LATIN AMERICA: GAS TURBINES MARKET SIZE, BY COUNTRY, 
2013–2020 (USD MILLION) 95
TABLE 63 MEXICO: GAS TURBINES MARKET SIZE, BY TECHNOLOGY, 
2013–2020 (USD MILLION) 96
TABLE 64 ARGENTINA: GAS TURBINES MARKET SIZE, BY TECHNOLOGY, 
2013–2020 (USD MILLION) 96
TABLE 65 BRAZIL: GAS TURBINES MARKET SIZE, BY TECHNOLOGY, 
2013–2020 (USD MILLION) 97
TABLE 66 REST OF LATIN AMERICA: GAS TURBINES MARKET SIZE, BY TECHNOLOGY, 
2013–2020 (USD MILLION) 97
TABLE 67 CONTRACTS & AGREEMENTS, 2012–2015 103
TABLE 68 EXPANSIONS, 2011–2015 104
TABLE 69 NEW PRODUCT LAUNCHES, 2014–2015 104
TABLE 70 MERGERS & ACQUISITIONS, 2011–2015 105
TABLE 71 OTHER DEVELOPMENTS, 2011–2015 106
TABLE 72 CONTRACTS & AGREEMENTS, 2011 –2015 137
TABLE 73 EXPANSIONS, 2011 –2014 145
TABLE 74 NEW PRODUCT LAUNCHES, 2011–2015 146
TABLE 75 OTHER DEVELOPMENTS, 2011 –2015 146
“
“LIST OF FIGURES

FIGURE 1 MARKETS COVERED: GAS TURBINES MARKET 15
FIGURE 2 GAS TURBINES MARKET: RESEARCH DESIGN 17
FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH 20
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH 21
FIGURE 5 DATA TRIANGULATION METHODOLOGY 22
FIGURE 6 ASIA-PACIFIC DOMINATED THE GAS TURBINES MARKET IN 2014 25
FIGURE 7 POWER GENERATION SECTOR DOMINATED THE GAS TURBINES MARKET IN 2014 26
FIGURE 8 ASIA-PACIFIC IS A POTENTIAL MARKET FOR POWER GENERATION APPLICATION 27
FIGURE 9 GAS TURBINES MARKET, BY RATED CAPACITY, 2015-2020 (USD MILLION) 28
FIGURE 10 RISE IN NATURAL GAS PRODUCTION & STRICT EMISSION REGULATIONS ON POWER PLANTS WOULD BOOST THE GAS TURBINES MARKET 29
FIGURE 11 MIDDLE EAST & AFRICA: POTENTIAL MARKET TO INVEST DURING THE FORECAST PERIOD 30
FIGURE 12 THE POWER GENERATION SEGMENT DOMINATED THE GAS TURBINES MARKET 
IN 2014 31
FIGURE 13 COMBINED CYCLE TECHNOLOGY IS EXPECTED TO DOMINATE THE GAS TURBINES MARKET IN 2020 32
FIGURE 14 HEAVY DUTY (FRAME) TYPE OF GAS TURBINE DOMINATED THE MARKET IN 2014 33
FIGURE 15 THE MIDDLE EAST & AFRICA REGION IS AN EMERGING MARKET FOR GAS TURBINES 34
FIGURE 16 ENHANCING EFFICIENCY & FURTHER REDUCING EMISSIONS ARE THE TOP PRIORITIES OF MODERN GAS TURBINE DESIGNS 36
FIGURE 17 SEGMENTATION OF GAS TURBINES MARKET 37
FIGURE 18 SEGMENTATION OF GAS TURBINES MARKET, BY DESIGN TYPE 37
FIGURE 19 SEGMENTATION OF GAS TURBINES MARKET, BY RATED CAPACITY 38
FIGURE 20 SEGMENTATION OF GAS TURBINES MARKET, BY APPLICATION 38
FIGURE 21 SEGMENTATION OF THE GAS TURBINES MARKET, BY TECHNOLOGY 39
FIGURE 22 SEGMENTATION OF THE GAS TURBINES MARKET, BY REGION 39
FIGURE 23 MARKET DYNAMICS OF GAS TURBINES 40
FIGURE 24 INDIA: INCREASE IN GDP & ELECTRICITY CONSUMPTION, 2009-2012 41
FIGURE 25 U.S. NATURAL GAS GROSS WITHDRAWALS, BILLION CUBIC FEET, 2004-2014 42
FIGURE 26 RESERVES TO PRODUCTION RATIO (IN TERMS OF NUMBER OF YEARS) FOR COAL 
& NATURAL GAS, AS OF 2014 46
FIGURE 27 GAS TURBINES: SUPPLY CHAIN 47
FIGURE 28 PORTER’S FIVE FORCES ANALYSIS: INTENSITY OF RIVALRY IS HIGH IN THE GAS TURBINES MARKET 48
FIGURE 29 DEMAND FOR AERODERIVATIVE TYPE OF GAS TURBINES IS EXPECTED TO INCREASE IN THE NEXT FIVE YEARS 52
FIGURE 30 120-300 MW & ABOVE 300 MW SEGMENTS CONSTITUTE MORE THAN 60% OF THE MARKET 56
FIGURE 31 THE POWER GENERATION SEGMENT IS ESTIMATED TO HOLD THE LARGEST MARKET SHARE (BY VALUE) IN 2015 61
FIGURE 32 THE COMBINED CYCLE GAS TURBINES SEGMENT HELD THE LARGEST MARKET SHARE (BY VALUE) IN 2014 66
FIGURE 33 GAS TURBINES MARKET SHARE (VALUE), BY REGION, 2014 70
FIGURE 34 TOP GROWING MARKETS: COUNTRIES IN ASIA-PACIFIC, THE MIDDLE EAST, & LATIN AMERICA TO WITNESS THE HIGHEST GROWTH DURING THE FORECAST PERIOD 71
FIGURE 35 THE U.S. & RUSSIA ARE PROJECTED TO BE THE TWO LARGEST MARKETS FOR GAS TURBINES DURING THE FORECAST PERIOD 72
FIGURE 36 REGIONAL SNAPSHOT: ASIA-PACIFIC OFFERS ATTRACTIVE MARKET OPPORTUNITIES 74
FIGURE 37 COMPANIES ADOPTED VARIOUS GROWTH STRATEGIES FROM 2011 TO 2015 99
FIGURE 38 BATTLE FOR MARKET SHARE: CONTRACTS & AGREEMENTS WAS THE KEY STRATEGY ADOPTED BY TOP PLAYERS, 2011–2015 100
FIGURE 39 MARKET SHARE ANALYSIS: GENERAL ELECTRIC COMPANY ACCOUNTED FOR THE LARGEST MARKET SHARE (VALUE) IN 2014 101
FIGURE 40 MARKET LEADERS BASED ON DEVELOPMENTS, 2011–2015 101
FIGURE 41 MARKET EVOLUTION FRAMEWORK: CONTRACTS & AGREEMENTS SUPPLEMENTED MARKET GROWTH, 2011–2015 102
FIGURE 42 REGIONAL MIX OF THE TOP PLAYERS 107
FIGURE 43 GENERAL ELECTRIC COMPANY: COMPANY SNAPSHOT 108
FIGURE 44 GENERAL ELECTRIC COMPANY: SWOT ANALYSIS 110
FIGURE 45 SIEMENS AG: COMPANY SNAPSHOT 111
FIGURE 46 SIEMENS AG: SWOT ANALYSIS 113
FIGURE 47 MITSUBISHI HITACHI POWER SYSTEMS, LTD.: SWOT ANALYSIS 115
FIGURE 48 ALSTOM S.A.: COMPANY SNAPSHOT 116
FIGURE 49 ALSTOM S.A.: SWOT ANALYSIS 118
FIGURE 50 KAWASAKI HEAVY INDUSTRIES, LTD.: COMPANY SNAPSHOT 119
FIGURE 51 KAWASAKI HEAVY INDUSTRIES, LTD.: SWOT ANALYSIS 122
FIGURE 52 BHARAT HEAVY ELECTRICALS LIMITED: COMPANY SNAPSHOT 123
FIGURE 53 ANSALDO ENERGIA S.P.A.: COMPANY SNAPSHOT 125
“