Nigeria and Algeria are expected to be the fastest growing market for gas turbines in terms of revenue as well as unit shipments.
This was revealed in a new report by Transparency Market Research, “Natural Gas Compressors, Natural Gas Engines, Gas Turbines, Centrifugal Gas Compressors Market – Asia and MEA Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 – 2023”.
According to the report, the Asia and Middle East and Africa (MEA) natural gas engines market in was valued at US$ 283.6 Mn in 2013 and is expected to reach US$ 2,137.7 Mn by 2022, growing at a CAGR of 25.2% from 2015 to 2022. In terms of volume, in 2013, the natural gas engines market witnessed shipments of 23,893 units.
The report showed Algeria as one of the largest contributor to the market revenue for gas turbines in Asia and MEA.
According to the report, “The growth in this region would be primarily driven by the favorable government initiatives that aim at increasing natural gas production capacity and consumption as well.
“The government of Nigeria intends to triple the natural gas production capacity of the country by 2020 to help meet the energy demands of West African nations, which in turn is anticipated to be prime factor behind the growth of gas turbines in Nigeria.
“Expanding natural gas exploration activities in Asia and MEA to boost natural gas production is expected to be the principal factor behind the growth of gas equipment market including natural gas compressors, natural gas engines, gas turbines and centrifugal gas compressors.
“Increasing usage of natural gas in oil and gas industry and for power generation has fueled its demand across the world. Due to this, the countries with large natural reserves are expected to expand their natural gas production and the distribution and transportation capabilities. This in turn is anticipated to drive the market for natural gas compressor and centrifugal gas compressors in the foreseeable future.”
The report however stated that with growing focus towards green sources of energy to curb the emission of harmful by products, the countries across the world are expected to look forward to natural gas as a potential alternative fuel to oil and coal.
“Therefore, natural gas industry is expected to see growth traction in the near future, which in turn is anticipated to contribute to the growth of natural gas compressor, gas turbines, natural gas engine and centrifugal gas compressors market during the forecast period.”
The report showed Kazakhstan was the largest revenue contributor in 2013, and was valued at US$ 27.7 Mn.
The market for gas turbines was valued at 6,658.0 Mn in 2013 and is expected to grow with a CAGR of 8.9% during the forecast period of 2015-2022.

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