Rotating Equipment Repair Market Study Based on Shares, Current Opportunities with Future Growth Scenario by 2027 – KSU ksusentinel.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ksusentinel.com Daily Mail and Mail on Sunday newspapers.
Gas Turbine Services Market Rise at 4.1% CAGR to 2026 | General Electric, Mitsubishi Hitachi Power Systems, Siemens
iCrowd Newswire
Global Gas Turbine Services Market Growth Status and Outlook 2021-2026
A gas turbine, also called a combustion turbine, is a type of internal combustion engine. It has an upstream rotating compressor coupled to a downstream turbine, and a combustion chamber or area, called a combustor, in between.
According to this latest study, the 2020 growth of Gas Turbine Services will have significant change from previous year. By the most conservative estimates of global Gas Turbine Services market size (most likely outcome) will be a year-over-year revenue growth rate of XX% in 2020, from US$ 17550 million in 2019. Over the next five years the Gas Turbine Services market will register a 4.1% CAGR in terms of revenue, the global market size will reach US$ 20650 million by 2025.
The demand for rotating equipment repair is set to grow significantly, as rotating equipment play a vital role in diverse end-use applications. As per the study,
Gas Based Economy
The Government of India seeks to increase the share of natural gas in India’s commercial energy basket from 6.3 percent in 2019 to 15 percent by 2030 to make India a ‘gas-based economy’. To reach the target of 15 percent, annual growth in consumption of natural gas has to increase from less than 5 percent in the last decade (less than 3 percent in 2019) to well over 10 percent in the next decade. India’s natural gas consumption in 2019-20 was about 175 mmscmd. To increase consumption to 600 mmscmd by 2030, the annual growth rate in consumption has to be more than 13 percent. This is not an impossible target. In the period 2008-2018, natural gas consumption in China grew by over 13 percent. Behind this double-digit growth rate for natural gas consumption in China was an annual average economic growth rate of over 8 percent, regulatory reform for transparency and flexibility along with focussed policy mandates.