Posted 4/8/2024, 9:10:00 AM
High Speed Engine Market to Hit $32 Billion by 2030, Driven by Power Generation Demand
- High speed engine market projected to reach $32.26 billion by 2030, growing at a CAGR of 7.2%
- Driven by demand for power generation across industries like manufacturing, oil & gas, and mining
- Gas turbines expected to dominate due to high efficiency and power output capabilities
- Increasing adoption of hybrid and electric propulsion systems in marine and automotive sectors
- Key players include GE, Siemens, Rolls-Royce; investing in R&D to enhance engine performance and efficiency