The gas turbine market - Italy

The gas turbine industry encompasses all types of internal combustion engines. Their operation is based on the principle of combustion of gaseous or liquid materials, which causes the device to rotate mechanically. Gas turbines must be understood according to an overall mechanism based on five components: an air intake port, a compressor, a combustion chamber, a turbine, and an exhaust. While the turbine principle dates back to 1731, the date of the first patent filed by the English J. Barber, gas turbines did not really develop until the middle of the 20th century, accompanying the significant improvement in the principle of compression and reaction in the aviation sector and gradually replacing steam turbines in heavy industry. Currently, the market is organized around three main players: suppliers, manufacturers, and operators. The global gas turbine market was valued at $18.5 billion in 2020, and it is expected to expand at $25.4 billion by 2030, growing at a CAGR of 3.3% in the forecasted period. Nowadays, natural gas is considered the fuel of the future because of its abundance, lower emissions, and low-price characteristics. Therefore, there will be a boost in the turbine sales in the upcoming future. In addition, Italy can boast of being the first producer in the world of a hybrid turbine powered by a mixture of natural gas and hydrogen. It is called NovaLT12, and aims to reduce the environmental impact of various industrial processes: from cogeneration to transportation, and from pipeline compression to offshore. However, the most important players in the market remain General Electrics (which has a global market share of almost 40%) and Mitsubishi Hitachi Power Systems, even if the Italian Ansaldo Energia S.p.a is gaining notoriety on a global level.