Latin America Gas Turbine Market Size & Outlook, 2023-2030
Latin America gas turbine market, 2018-2030 (US$M)
Related Markets
Latin America gas turbine market highlights
- The Latin America gas turbine market generated a revenue of USD 210.1 million in 2023.
- The market is expected to grow at a CAGR of 3.1% 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.
- Country-wise, Argentina is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 210.1 million |
| Market revenue in 2030 | USD 260.0 million |
| Growth rate | 3.1% (CAGR from 2023 to 2030) |
| Largest segment | Combined cycle |
| Fastest growing segment | Combined Cycle |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 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, Latin America region accounted for 2.1% of the global gas turbine market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- North America is the fastest growing regional market and is projected to reach USD 4,142.2 million by 2030.
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Gas Turbine Market Scope
Gas Turbine Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Latin America 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 94.48% in 2023. Horizon Databook has segmented the Latin America gas turbine market based on open cycle, combined cycle covering the revenue growth of each sub-segment from 2018 to 2030.
Central & South America is an oil-based economy relying heavily on oil for its energy mix. The region is also following a similar trend like Europe and heavily focusing on developing power generation through renewable sources. Brazil is a major economy in the CSA region and it heavily relies on hydropower for electricity supply.
These conditions have endangered Brazil’s electricity supply and security. Brazil is focusing on reducing its dependence on hydropower and is projected to develop the renewable power generation Sources over the coming years.
Apart from hydropower, CSA has a potential for wind, biomass, and solar energy, which could enable the region to maintain a dominating share of renewable energy Sources. However, easy availability of natural gas with discovery of new gas reserves is expected to boost the gas turbine market in the region.
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Our clientele includes a mix of gas turbine market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America gas turbine market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America gas turbine market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America gas turbine market size, by country, 2018-2030 (US$M)
Latin America Gas Turbine Market Outlook Share, 2023 & 2030 (US$M)
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