India Gas Turbine Market - Forecast(2021 - 2026)

The Indian market for gas turbine is majorly comprised of foreign players who export ready-made gas turbines for use in the power and aircraft industry to the country. This is due to the complexity in design, lack of skilled workforce and lack of research and funding.

As the Indian power industry shifts its focus from large thermal plants (steam and gas) to renewables, the demand for gas turbines will eventually decrease, along with the fact that India imports most of it natural gas requirement. However, the growth for the components of aircraft based gas turbines is expected to increase considering the ‘Make-in-India’ initiative of the Indian Government. This could encourage foreign key players like GE, Rolls-Royce, Siemens, etc to shift their manufacturing supply chains to India.

• Request Sample

What is a Gas turbine? 

Gas Turbines are turbines under the class of thermal energy conversion machines where the fuel is burned to produce a hot stream of gases which transfers it mechanical energy to a drive shaft resulting in useful work. This rotating turbine can be connected to a generator which generates electrical energy or drive huge mechanical loads or even used in aircrafts to generate thrust. Moreover, these turbines’ working principle is based on the Brayton cycle – a thermodynamic process that dictates efficient heat transfer.  Its major applications are found in the power and aerospace industry which has increasing growth requirements and potential.

• Inquiry Before Buying

Market Research and Market Trends of Indian Gas Turbine Market 

• The Gas Turbine market is a market wherein the focus of innovation has always been efficiency. As a result, the key players have been at the forefront of improving material design and heat recovery processes.
  

One of the trending innovations seen in the market is the research into developing new materials which have high tensile and fatigue strength and high resistance to crack propagation. The industry is considering new alloys such as vanadium-molybdenum-chromium alloy and austenitic base alloy. Also different coating compounds are been developed for the protection of gas turbine against extreme corrosion and cracking.

The power based gas turbine market share is witnessing a downward trend considering the shift in focus from large thermal plants to renewable energy sources. The CAGR (%) 2007-08 to 2016-17 of Renewable Sources was 17.80%, compared to 5.60% Gas based production.

• The Indian domestic civil aviation market is the third largest in the world and is expected to reach the premier position by 2020. This indirectly creates an increased demand for aircraft based gas turbines, and with the Make-in-India initiative, many foreign manufacturers are encouraged to shift their production supply chains to India.

• "We also publish more than 100 reports every month in "Chemicals and Materials", Go through the Domain if there are any other areas for which you would like to get a market research study."