Global Gas Turbine
Market Report
2025
As per Cognitive Market Research's latest published report, the Global Gas Turbine market size was USD 20.10 billion in 2022 and it is forecasted to reach USD 30.45 billion in 2030. Gas Turbine Industry's Compound Annual Growth Rate will be 5.3% from 2023 to 2030.
The base year for the calculation is 2024. The historical will be 2021 to 2024. The year 2025 will be estimated one while the forecasted data will be from year 2025 to 2033. When we deliver the report that time we updated report data till the purchase date.
PDF Access: Password protected PDF file, Excel File Access: Quantitative data, PPT Report Access: For the presentation purpose, Cloud Access: Secure Company Account Access.
Share your contact details to receive free updated sample copy/pages of the recently published edition of Gas Turbine Market Report 2025.
As per Cognitive Market Research's latest published report, the Global Gas Turbine market size was USD 20.10 billion in 2022 and it is forecasted to reach USD 30.45 billion in 2030. Gas Turbine Industry's Compound Annual Growth Rate will be 5.3% from 2023 to 2030.
2024 | 2025 | 2032 | 2033 | CAGR | |
---|---|---|---|---|---|
Global Gas Turbine Market Sales Revenue | 121212 | 121212 | 121212 | 121212 | 5.3% |
Base Year | 2024 |
Historical Data Time Period | 2021-2024 |
Forecast Period | 2025-2033 |
Market Split by Engine Type |
|
Market Split by Application |
|
Market Split by Technology |
|
Market Split by Cycle |
|
Market Split by Rating Capacity |
|
List of Competitors |
|
Regional Analysis |
|
Country Analysis |
|
Report scope is customizable as we have a huge database of Gas Turbine industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Gas Turbine Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Gas turbines are devices that use combustion to transform the energy of a fuel into mechanical energy. Then, generators, compressors, and other machinery are powered by this mechanical energy. A compressor, a combustion chamber, and a turbine are the typical components of a gas turbine. Air is drawn in by the compressor, compressed, and then sent to the combustion chamber, where fuel is added and burnt to create hot gases. The turbine rotates and produces mechanical energy as a result of the hot gases' expansion when they are focused onto its blades. After being released from the turbine, the exhaust gases may be used for heating or other purposes.
A surge in demand for electricity, an upgrade of conventional electric infrastructure, and growing industrialization are the major driving factors for the gas turbine market. Industrial sectors, such as petrochemicals and oil & gas, are expanding rapidly. Gas turbines have shown to be a more environmentally friendly alternative for fossil fuel-powered manufacturing systems. Gas turbine use has made it popular among end-use industries thanks to its low greenhouse gas emissions. Thus, it is anticipated that the gas turbine market will experience rapid expansion over the coming few years. Furthermore, during the anticipated period, the market would benefit greatly from the growing trend of distributed power generation. Yet, natural gas price fluctuation may impede the market's expansion.
We have various report editions of Gas Turbine Market, hence please contact our sales team and author directly to obtain/purchase a desired Edition eg, Global Edition, Regional Edition, Country Specific Report Edition, Company Profiles, Forecast Edition, etc. Request for your Free Sample PDF/Online Access.
GE announced that it would supply digital solutions for the new IAC-1 Vikrant gas turbines being used by the Indian Navy. (February 2023)
In order to improve the performance of the LM2500 marine gas turbines that power the Indian Navy's IAC-1 Vikrant, which was commissioned in August 2022, Cochin Shipyard Limited has contracted with GE's Indian subsidiary.
Top Companies Market Share in Gas Turbine Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
Geographically, APAC is dominating the global gas turbine market. Growing industrialization, increasing population in major economies like India, and China, and developing infrastructure are the major factors responsible for the growth of the market in this region. Growing industrialization leads to increasing electricity demand which in turn propels the demand for gas turbines. Similarly, the increasing population in this region leads to increasing demand for electricity which in turn propel the growth of the gas turbine market.
The current report Scope analyzes Gas Turbine Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
To learn more about geographical trends request the free sample pages.
Get Free Sample
Global Gas Turbine Market Report 2025 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Gas Turbine Industry growth. Gas Turbine market has been segmented with the help of its Engine Type, Application Technology, and others. Gas Turbine market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
The Gas Turbine market report categorizes competitors based on Engine Type, offering a detailed analysis of their products and business strategies. This segmentation is essential for understanding the different facets of the market, providing valuable insights into each category. Key information for each segment includes definitions, advantages, real-world use cases, technological advancements, regional benefits, and other relevant factors that differentiate each type within the market. Furthermore, the report highlights the growth trajectories of these segments, detailing metrics such as market share, revenue figures, and compound annual growth rates over the forecast period. This allows stakeholders to understand the performance and potential of each segment, aiding in better decision-making and strategic planning. (For more comprehensive details, you can request a sample of the pages or contact our team directly)
Engine Type of Gas Turbine analyzed in this report are as follows:
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Gas Turbine Industry. Request a Free Sample PDF!
The Gas Turbine market report also delivers an application-driven analysis that examines how various business offerings cater to the unique demands of different sectors. This section evaluates the market size, growth prospects, and revenue contributions specific to each application, while also highlighting the technological innovations that are shaping these sectors. The report provides a global projection of revenue growth in the Gas Turbine market, while also breaking down the performance and opportunities in specific regions and countries. By analyzing current trends and identifying future opportunities for each application, this section gives businesses a clearer understanding of the evolving dynamics within the industry and where to focus their efforts for optimal growth during the forecast period. (For a more in-depth review, feel free to request a sample of the pages or reach out to our team directly for further information.)
Some of the key Application of Gas Turbine are:
The above Graph is for representation purposes only. This chart does not depict actual Market share.
To learn more about market share request the free sample pages.
Get Free Sample
Industrial gas turbines, heavy-duty gas turbines, and aero-derivative gas turbines are the three technology-based market segments. The industry is dominated by heavy-duty gas turbines. The rapidly expanding manufacturing facilities in developing nations and the rising demand for electricity are the major driving factors for this segment's growth.
The market is split into the combined cycle and simple cycle based on the cycle segment. Due to its efficient use of waste heat, close proximity to the environment, and operational efficiency, the combined cycle category accounts for the biggest share of the market.
Senior Research Analyst at Cognitive Market Research
Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modelling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights.
Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modelling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights. Experience in analyzing current trends, market demand, market assessment, growth indicators, competitors' strategy, etc. to help top management & investors to make strategic and tactical decisions in the form of market reports and presentations. Successfully delivered more than 500+ client & consulting assignments across verticals. Ability to work independently as well as with a team with confidence and ease.
I am committed to continuous learning and staying at the forefront of emerging trends in research and analytics. Regularly engaging in professional development opportunities, including workshops and conferences, keeps my skill set sharp and up-to-date. I spearheaded research initiatives focused on market trends and competitive landscapes. I have a proven track record of conducting thorough analyses, distilling key insights, and presenting findings in a way that resonates with diverse stakeholders. Through collaboration with cross-functional teams, I played a pivotal role in shaping business strategies rooted in robust research.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Gas Turbine Market is witnessing significant growth in the near future.
In 2023, the Turbofan segment accounted for noticeable share of global Gas Turbine Market and is projected to experience significant growth in the near future.
The Marine segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Wartsila, Mitsubishi Hitachi Power Systems and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Engine Type | Turbofan, Turboshaft, Turboprop, Turbojet |
Application | Marine, Steel Mills, Power Generation, Petrochemical, Refineries, Others |
Technology | Industrial Gas Turbines, Heavy-duty Gas Turbines, Aeroderivative Gas Turbines |
Cycle | Combined Cycle, Simple Cycle |
Rating Capacity | 60 MW-150 MW, 150 MW-300 MW, 300 MW-400 MW, Above 400 MW |
List of Competitors | Wartsila, BHEL, Mitsubishi Hitachi Power Systems, Harbin Electric International Company, Siemens AG, Man Diesel & Turbo, General Electric, NPO Saturn, Kawasaki Heavy Industries, Solar Turbines, Capstone Turbine, Vericor Power Systems, Cryosta, AnsaldoEnergia, Opra Turbines, Zorya-Mashproekt |
This chapter will help you gain GLOBAL Market Analysis of Gas Turbine. Further deep in this chapter, you will be able to review Global Gas Turbine Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
This chapter will help you gain North America Market Analysis of Gas Turbine. Further deep in this chapter, you will be able to review North America Gas Turbine Market Split by various segments and Country Split.
Chapter 2 North America Market Analysis
This chapter will help you gain Europe Market Analysis of Gas Turbine. Further deep in this chapter, you will be able to review Europe Gas Turbine Market Split by various segments and Country Split.
Chapter 3 Europe Market Analysis
This chapter will help you gain Asia Pacific Market Analysis of Gas Turbine. Further deep in this chapter, you will be able to review Asia Pacific Gas Turbine Market Split by various segments and Country Split.
Chapter 4 Asia Pacific Market Analysis
This chapter will help you gain South America Market Analysis of Gas Turbine. Further deep in this chapter, you will be able to review South America Gas Turbine Market Split by various segments and Country Split.
Chapter 5 South America Market Analysis
This chapter will help you gain Middle East Market Analysis of Gas Turbine. Further deep in this chapter, you will be able to review Middle East Gas Turbine Market Split by various segments and Country Split.
Chapter 6 Middle East Market Analysis
This chapter will help you gain Middle East Market Analysis of Gas Turbine. Further deep in this chapter, you will be able to review Middle East Gas Turbine Market Split by various segments and Country Split.
Chapter 7 Africa Market Analysis
This chapter provides an in-depth analysis of the market share among key competitors of Gas Turbine. The analysis highlights each competitor's position in the market, growth trends, and financial performance, offering insights into competitive dynamics, and emerging players.
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
This chapter would comprehensively cover market drivers, trends, restraints, opportunities, and various in-depth analyses like industrial chain, PESTEL, Porter’s Five Forces, and ESG, among others. It would also include product life cycle, technological advancements, and patent insights.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Engine Type Analysis 2019 -2031, will provide market size split by Engine Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Engine Type Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Application Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 12 Market Split by Technology Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 13 Market Split by Cycle Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 14 Market Split by Rating Capacity Analysis 2021 - 2033
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Gas Turbine market
Chapter 15 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Chapter 16 Research Methodology and Sources
Why Turbofan have a significant impact on Gas Turbine market? |
What are the key factors affecting the Turbofan and Turboshaft of Gas Turbine Market? |
What is the CAGR/Growth Rate of Marine during the forecast period? |
By type, which segment accounted for largest share of the global Gas Turbine Market? |
Which region is expected to dominate the global Gas Turbine Market within the forecast period? |
Segmentation Level Customization |
|
Global level Data Customization |
|
Region level Data Customization |
|
Country level Data Customization |
|
Company Level |
|
Additional Data Analysis |
|
Additional Qualitative Data |
|
Additional Quantitative Data |
|
Service Level Customization |
|
Report Format Alteration |
|