General Electric to Dominate Industrial Power Market

By Stuart Slade, Gas Turbine Systems Analyst, Forecast International.

Industrial & Marine Gas and Steam Turbines Market Share. Source: FI’s Platinum Forecast System

According to FI’s Platinum Forecast System, GE has clearly moved into the dominant world position in the production of industrial & marine gas and steam turbines.  As shown in the pie chart, GE Energy, with plants in Cincinnati (Ohio), Erie (Pennsylvania), Schenectady (New York), and Atlanta (Georgia), will capture 33.76 percent of the world market, valued at over $113.6 billion, during the 2017-2031 period.  In addition, subsidiaries in France, Italy, and Japan will contribute about 3 percent of production, bringing the overall share of GE up to almost 37 percent of the world market.  

Siemens SGT5-8000H gas turbine. Photo – Siemens

Siemens, with several plants in Germany plus others in the U.K., Sweden and the U.S., will rank second with 23.17 percent, valued at $77.98 billion, while Mitsubishi of Japan will capture 17.65 percent ($59+ billion) in its own right, plus another 3 percent when teamed with Hitachi.

Solar Turbines, while ranking fourth in terms of value ($20.62 billion), will actually rank first in terms of quantities of turbines produced, as Solar’s line is composed primarily of lower-powered units that are very popular for mechanical drives in the oil and gas industry and elsewhere.

Overall, analysts at Forecast International predict a vast and growing world market for gas and steam turbines of all types for marine power and industrial applications, achieving combined values in excess of $336 billion over the next 15 years.

Please feel free to use this content with Forecast International and analyst attributions, along with a link to the article. Contact Ray Peterson at +1 (203) 426-0800 or via email at ray.peterson@forecast1.com for additional analysis.


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