Industrial gas turbines are a type of continuous and internal combustion engine that use primary fuels. Industrial gas turbines are used to generate mechanical energy from combustible fuel such as such as natural gas or liquid fuels. The mechanical energy is transferred by a rotating shaft to drive an integrated generator that produces electrical energy. The ignition systems used to ignite industrial gas turbines are required to produce a spark discharge which is much larger in comparison to automotive systems and the spark may even have to be over 100 times more powerful than the spark required for igniting an automobile engine. The components of a gas turbine ignition system are exciter, ignition lead and ignitor plug. Multiple exciters, a set of ignition leads, and a set of igniter plugs may be required for spark ignition systems used in industrial gas turbines. The service life of ignition systems used for industrial gas turbines is generally expressed in terms of number of hours.
COVID-19 scenario analysis:
- COVID-19 pandemic has shut-down production of various products in the global industrial gas turbine ignition industry, mainly owing to prolonged lockdown in major global countries. This has hampered growth of the global industrial gas turbine ignition market significantly from past few months, as is likely to continue during 2020.
- COVID-19 has already affected sales of equipment and machinery in the first quarter of 2020, and is likely to cause a negative impact on the market growth throughout the year.
- The major demand for equipment and machinery was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, the UK, and China, which is badly affected by the spread of coronavirus, thereby halting demand for equipment and machinery.
- Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.
- Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19 infection cases start to decrease.
Top impacting factors: Market Scenario Analysis, Trends, Drivers, Opportunities, Restraints and Impact Analysis
Growth of the global industrial gas turbine ignition system market is attributed to adoption of gas turbines in the power generation sector, owing to relatively clean and environment-friendly nature of natural gas as a power generation fuel as compared to traditional fuels such as coal. Adoption of natural gas is expected to increase, owing to growth in focus of governments and regulatory bodies to reduce greenhouse gas emission. Gas-fired power plants are growing in adoption around the world due to lower capital investments required. The increasing demand for electricity around the world due to the factors of increasing global population, urbanisation and increasing industrialisation is expected to aid the growth of the gas turbines market and by extension the industrial gas turbine ignition system market as well. However, continuous price fluctuations for natural gas and trade wars due to geopolitical factors is a major restraining factor for the growth of the market. The opportunity for growth of the global industrial gas turbine ignition system market comes from the rising adoption of combined cycle power generation plants due to the favourable characteristics of high efficiency, reliability and operational performance. A combined-cycle power plant uses both a gas and a steam turbine together to produce more electricity from the same amount of fuel in comparison to a traditional simple-cycle plant.
The global industrial gas turbine ignition system market trends are as follows:
Growing demand for power around the world
The rising population, urbanization, and industrialization around the world is expected to increase the demand for electricity around the world. Along with the growing population around the world, increase in production across various industries and rise in construction activities around the world, the global electricity generation capacity has to be increased. A large part of this increase in demand for power can be attributed to the increasing economic development of the emerging economies of the world for example India and China. According to International Energy Agency (IEA), in the year 2018, nearly 45% of global power investment was made in upper-middle-income countries which includes China and much of Southeast Asia and Latin America. These countries are home to roughly 40% of the world population. In the same year, lower-income markets which is also home to 40% of the global population were responsible for 17% of the global power investment, largely due to India. The rising disposable income of consumers around the world is helping support higher consumption of manufactured products. Growth in demand for power around the globe is thus expected to help global gas turbine and by extension the global industrial gas turbine ignition system market grow.
Growth in demand for natural gas-based power generation
Rise in concern regarding environmental impact of the power generation industry along with stringent regulations imposed by various regulatory bodies and governments around the world with intention to reduce emission of greenhouse gases emissions are important driving factors behind the growth of natural gas fired electricity generation. Rising population, urbanization, and industrialization around the world is expected to increase demand for energy. This is also aiding to growth of the natural gas electricity generation sector. Natural gas is growing in popularity in the overall electricity generation market because it is more environment friendly in comparison to other fuels that are used for electricity generation. Natural gas is more efficient and relatively cleaner in comparison to coal. Coal based power plants are increasingly being replaced by natural gas-based power plants since the shale gas boom in North America. Due to the superior efficiency of combined cycle gas turbines, this market is expected to further expand. With the growing demand for natural gas-based power generation, gas turbines are expected to grow in adoption and as a result, the global gas turbine ignition system market is also expected to grow due to this factor.
Key benefits of the report:
- This study presents the analytical depiction of the global industrial gas turbine ignition system industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global industrial gas turbine ignition system market share.
- The current market is quantitatively analyzed to highlight the global industrial gas turbine ignition system market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global industrial gas turbine ignition system market analysis based on competitive intensity and how the competition will take shape in coming years.
Industrial Gas Turbine Ignition System Market Report Highlights
By Turbine Type
Key Market Players
Meggitt PLC, Tesi Group, Hoerbiger Holding, Chentronics LLC, Woodward Inc., Federal-Mogul LLC, Unison LLC, Hatraco Technische Handelsonderneming B.V., Champion Aerospace Inc., Knite Inc.