Gas turbine is facing the most important development opportunity of the global energy sector. Global gas turbine market is projected to reach a total market size of $21.173 billion by the end of 2022. Asia Pacific, such as China and India, accounts for a bulk of the demand for gas turbines and will continue to dominate the global market over the forecast period. Rapid urbanization, increasing investment in energy infrastructure and industrialization are some of the factors complementing the market growth. With the same rapid pace of gas turbine, the global gas turbine MRO market in the power industry is expected to reach an estimated $17.3 billion by 2023 and is forecast to grow at a CAGR of 3.6% from 2018 to 2023, especially in China region.
Meanwhile, fluctuation in international trade of natural gas and continuing distress over stable natural gas supply are restraining the gas turbine market. Facing the industry and market pressure, how will the domestic gas power generation and distributed energy projects lay out? How will advanced technology and advanced manufacturing be developed?
With these in mind, we return to industry source. The 5th China Gas Turbine Focus, GTF2019, will be scheduled for April 25 and 26, 2019 in Shanghai. The focus will bring together 300 industry experts from government & association, gas power plant, energy projects worldwide, the OEMs, R&D and design institutes, as well as components and solutions providers. It will give in-depth exploration into the latest technology and products, the best quality resources docking to promote the development of industry .