NR2075

NEWS RELEASE                                                                                        MARCH 2015

Six Percent Expansion of the Gas Turbine Combined Cycle Market This Year

There is a switch from coal-fired generation to gas turbine generators underway in many countries of the world. In addition, a number of gas-turbine peaking plants are being retrofitted with combined cycle systems.  In major areas of the world more than 30 percent of turbine capacity is open (single cycle), which offers substantial opportunities for combined cycle upgrades.

The capacity additions in 2015 will be equal to 4.3 percent of the installed base.  However, the addition of steam generators along with investment to switch from infrequent to frequent use will raise total investment by 6 percent.  Asia will be the leading region with a 7 percent increase.

Gas Turbine Open Cycle Systems by Region

Region Total   Open & Combined Gas Turbine Capacity 2015 (MWs) New   Additions in 2015 (MWs) Open   Cycle (%) of Installed Base
North America 511,254 15,580 36
South America 57,367 2,414 40
Europe 274,526 14,133 4
CIS 28,908 3,197 16
Africa & Middle East 233,819 5,684 45
Asia 277,161 19,329 9
TOTAL 1,383,035 60,337 26    

Installed base of gas turbine generation at the end of 2015 will be nearly 1.4 million MW, which includes 60,000 MW of new additions that will be added throughout the year. Most of the additions will include the steam turbine and a heat recovery steam generator (HRSG), reflecting the economic and environmental advantages for combined cycle power plants.

Significant opportunities for combined cycle conversions exist in North America, South America, Africa and the Middle East.  Europe and the CIS have traditionally invested primarily in combined cycle from the start rather than open cycle, so there are lesser opportunities there for upgrades to combined cycle systems.

Wet cooling will also be incorporated in the majority of these combined cycle installations.  However, dry cooling is being utilized in some arid areas of the world.  It is also the choice for some developers who want to avoid delays with water permits.

Many plants are switching from peaking to base-load operation. This generates the need for better boiler feedwater treatment systems. Other capital investments are warranted to reduce chemical and other operating costs.

More information on the market is found at: N043 Fossil and Nuclear Power Generation: World Analysis and Forecast.

Details on all the projects and technology is found at: 59EI Gas Turbine and Combined Cycle Supplier Program