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Gas turbine industry to witness an intensely competitive strategic landscape, sustainability trends to underline the product developments

Over the recent years, gas turbine industry share has witnessed a remarkable progression across the globe owing to the rapid pace of industrialization, burgeoning demand for clean energy, rising availability of natural gas, massive R&D investments by private entities, and swift transformation in market conditions among others. Furthermore, the recent upsurge in environmental concerns in developed and developing economies across the world has resulted in intensified efforts by government and private institutions to fundamentally alter the development trajectories by ensuring climate resilience and increased measures to curtail greenhouse gas emissions. As a consequence, these global efforts have markedly influenced the expansion of gas turbine market and are bound to play a pivotal role to further enlarge and proliferate this business sphere over the ensuing years. Moreover, statistics affirm the aforementioned statements- the overall gas turbine industry size in the year 2016, was forecast to have held a total valuation in excess of USD 13 billion. Needless to say, the rising desire for better social and economic development around the world shall fuel the demand for clean, affordable, and reliable electricity supply, which would, in turn, embellish the growth potential of the global gas turbine industry size over the estimated time frame.

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