by Corinne Gangloff
August 12, 2020
The impact of the COVID-19 pandemic on the $182 billion global turbine market is expected to vary significantly by product type, with the steepest near-term declines expected in aircraft engine applications, particularly as the global air travel industry is likely to face a protracted recovery:
Nevertheless, beyond 2020, global turbine demand is expected to rebound quickly as travel and construction patterns return to normal.
These trends and more are in the new Global Turbines study from The Freedonia Group.
Wind turbines will also register a strong decline, though not as severe as aircraft engines, as stay-at-home orders, closures of nonessential businesses, and other measures to slow the spread of COVID delay the completion of ongoing wind farms or the approval of new wind farms.
Turbines installed in other electricity generation applications, namely natural gas, will be the most resilient markets during the pandemic:
Looking for more?
Global Turbines is now available from The Freedonia Group. This study analyzes global supply of and demand for turbines, turbine-based engines, generators, and generator sets. Specific products covered include gas combustion turbines, steam turbines, hydraulic turbines, wind turbines, microturbines, turbine-based engines (both aircraft and marine), and turbine-based generators and generator sets.
Demand is also segmented by global region and market:
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