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Power Watch India
|May 2017
Asia-Pacific Region Provides Best Opportunities In Declining Global Gas Turbine Market: GlobalData.
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The global gas turbine market is set to fall from $8.49 billion in 2016 to around $7.73 billion by 2021, representing a negative compound annual growth rate of 1.87%, according to research and consulting firm GlobalData.
The company’s latest report states that global economic recession and the decrease in the price of gas turbines has heavily impacted market value, with a large number of projects being cancelled or postponed, and widespread delays in maintenance projects. Gas turbine companies are now concentrating on expanding their operations in emerging markets, which offer the best opportunities for growth.
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