Gas Turbines Market Receive Overwhelming Hike In Revenues

Posted by Sakshi Mishra on March 14th, 2020

A gas turbine is the heart of a power plant and is also known as a combustion turbine. Gas turbines are used to produce electric current. A gas turbine is an engine which is used to transform other liquid fuels or natural gas to mechanical energy. This mechanical energy then drives a generator and thus it produces electrical energy. Each gas turbine has three main elements including an upstream rotating gas compressor; a combustor; and a downstream turbine on the same shaft as the compressor. For converting the energy into electricity, a mixture of fuel and air at very high temperature heated by the gas turbine causes the turbine blades to spin. The spinning turbine drives the generator, and thus electricity is generated.

Gas Turbines Market – Competitive Landscape

• In March 2019, SiemensAG entered into a partnership with China Power Investment Corporation, to develop heavy-duty gas turbines for power plants.
• In December 2018, Turbine Efficiency Group Limited based in Lincolnshire, the U.K., acquired Gas Turbine Applications Inc., an after-market services provider company. Gas Turbine Applications Inc. is specialized in Centaur and Saturn industrial gas turbines.

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Incorporated in 1896, Kawasaki Heavy Industries, Ltd. is based in Tokyo, Japan. The company specializes in manufacturing motorcycles, heavy equipment, defense equipment, rolling stock, and ships. It also designs industrial robots, boilers, gas turbines, and other industrial products. The company sells its products in the United States, Japan, Asia, Europe, and globally.

Siemens AG

Incorporated in 1847, Siemens AG is located in Munich, Germany. Siemens AG is one of the leading global manufacturers of resource-saving and energy-efficient technologies. The company is especially focusing on the areas of automation, electrification, and digitalization. The company is the world’s leading supplier to the oil and gas industry and distributed power generation. It primarily operates through nine business segments: Power & Gas, Energy Management, Building Technologies, Mobility, Digital Factory, Process Industries & Drives, Healthineers, Siemens Gamesa Renewable Energy, and Financial Services (SFS). Through the Digital Factory division, the company offers a comprehensive product portfolio and system solutions used in manufacturing industries, complemented by product lifecycle and data-driven services.