Steam and Gas Turbines Market Size, Share and Trends Analysis Key Players and Forecast, 2021-2026 globaldata.com

The gas turbine market was valued at $5.93 billion in 2021. The growing demand for electricity, climate change concerns, rapid development, increasing fuel prices, and the maturity of technology are some of the major factors influencing the steam and gas turbine market. However, evolving manufacturing practices are contributing to the fabrication of new thermal power generation systems with reduced environmental pollution that enhances market acceptance. Additionally, various new technologies such as Integrated Gasification and Combined-Cycle (IGCC), carbon capture and storage (CCS), supercritical and ultra-critical power generation, and carbon sequestration, developed over the past decade, are a lot cleaner and make thermal power generation more acceptable within the confines of established policies and regulations.