Brazil Gas Turbine Market Size & Outlook, 2023-2030
Brazil gas turbine market, 2018-2030 (US$M)
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Brazil gas turbine market highlights
- The Brazil gas turbine market generated a revenue of USD 62.1 million in 2023 and is expected to reach USD 70.0 million by 2030.
- The Brazil market is expected to grow at a CAGR of 1.7% 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 62.1 million |
| Market revenue in 2030 | USD 70.0 million |
| Growth rate | 1.7% (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, Brazil accounted for 0.6% 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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Brazil 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 92.27% in 2023. Horizon Databook has segmented the Brazil gas turbine market based on open cycle, combined cycle covering the revenue growth of each sub-segment from 2018 to 2030.
The gas turbine market in Brazil is expected to grow in the coming years due to several factors, including increasing demand for electricity, need for flexible and reliable power generation to balance intermittent renewable energy supply, and the government's commitment to expanding the energy infrastructure.
Brazil has significant reserves of natural gas, which is used as a fuel for gas-fired power plants, including gas turbines. Brazil is focusing on the development of offshore oil and gas reserves. The oil and gas industry requires reliable and flexible power generation systems, which are often provided by gas turbines.
In April 2023, General Electric received an order from Eneva for the supply of its H-Class gas turbine technology for the expansion of Azulao II Reserve Power Plant. The new gas turbine will have a capacity of 590MW and is expected to become operational by 2027.
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Horizon Databook provides a detailed overview of country-level data and insights on the Brazil gas turbine market , including forecasts for subscribers. This country databook contains high-level insights into Brazil gas turbine market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Brazil gas turbine market size, by technology, 2018-2030 (US$M)
Brazil Gas Turbine Market Outlook Share, 2023 & 2030 (US$M)
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