The ‘global industrial gas turbine ignition system market - by component, gas turbine type, application, region - market size, demand forecasts, company profiles, industry trends and updates (2017 – 2023)’ report has been added to ResearchAndMarkets.com's offering.
The global industrial gas turbine ignition system market was worth US$2.68 billion in 2017 and it is estimated to grow to US$4.65 billion by 2023 with a CAGR of 9.62% between 2017 and 2023.
The industrial gas turbines are engines using primary fuels for continuous combustion in the industrial space which plays a vital role these days in reducing CO2 emissions across the globe. This gas turbine installation especially in the power generation sector is expected to be the main factor for CO2 emission reduction. These gas turbines are ignited using an ignition system which is supplied by a large number of industry players.
The Asia Pacific region is expected to have the largest share, followed by the North American and European regions.
Drivers vs constraints
The increasing adoption of gas-fired power generation, growing global LNG production and transportation across the globe, due to developed transportation infrastructure, the increasing demand for electricity across diverse applications, are the reasons for the growth in the global industrial gas turbine ignition system market.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/10092018/global-industrial-gas-turbine-ignition-system-market-forecast-to-2023/