Argentina Gas Turbine Market Size & Outlook, 2023-2030
Argentina gas turbine market, 2018-2030 (US$M)
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Argentina gas turbine market highlights
- The Argentina gas turbine market generated a revenue of USD 39.5 million in 2023 and is expected to reach USD 52.0 million by 2030.
- The Argentina market is expected to grow at a CAGR of 4% from 2024 to 2030.
- In terms of segment, combined cycle was the largest revenue generating technology in 2023.
- Combined Cycle is the most lucrative technology segment registering the fastest growth during the forecast period.
Gas turbine market data book summary
| Market revenue in 2023 | USD 39.5 million |
| Market revenue in 2030 | USD 52.0 million |
| Growth rate | 4% (CAGR from 2023 to 2030) |
| Largest segment | Combined cycle |
| Fastest growing segment | Combined Cycle |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Open Cycle, Combined Cycle |
| Key market players worldwide | Ansaldo Energia, GE Aerospace, Kawasaki Heavy Industries Ltd, ManpowerGroup Inc, Mitsubishi Corp, Opera Ltd ADR, Siemens AG, Caterpillar Inc |
Other key industry trends
- In terms of revenue, Argentina accounted for 0.4% of the global gas turbine market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Latin America, Brazil gas turbine market is projected to lead the regional market in terms of revenue in 2030.
- Argentina is the fastest growing regional market in Latin America and is projected to reach USD 52.0 million by 2030.
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Gas Turbine Market Scope
Gas Turbine Market Companies
| Name | Profile | # Employees | HQ | Website |
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Argentina gas turbine market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to gas turbine market will help companies and investors design strategic landscapes.
Combined cycle was the largest segment with a revenue share of 93.16% in 2023. Horizon Databook has segmented the Argentina gas turbine market based on open cycle, combined cycle covering the revenue growth of each sub-segment from 2018 to 2030.
Argentina has witnessed a growing electricity demand owing to growth in population and expanding industrial sector. Therefore, it has been looking to expand its electricity generation infrastructure to keep up with the growing demand. Argentina has significant reserves of natural gas, which are used as a fuel for gas-fired power plants, in gas turbines. The country has been focusing on developing its oil and gas reserves located in the Vaca Muerta shale formation. The development of these reserves requires reliable and flexible power generation, which are often provided by gas turbines.
In addition, Argentina has a significant potential for the development of renewable energy sources, particularly wind and solar energy, which require backup power sources to balance their intermittency. Moreover, Argentina has a highly diversified industrial sector with a significant demand for gas-fired power generation systems in various applications, including manufacturing, transportation, and data centers. This provides a strong market potential for gas turbine manufacturers to cater to the needs of different industries.
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Horizon Databook provides a detailed overview of country-level data and insights on the Argentina gas turbine market , including forecasts for subscribers. This country databook contains high-level insights into Argentina gas turbine market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Argentina gas turbine market size, by technology, 2018-2030 (US$M)
Argentina Gas Turbine Market Outlook Share, 2023 & 2030 (US$M)
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