Press Releases

The Global Gas Turbines Market is anticipated to grow from USD 20.2  billion in 2023 to USD 27.5 billion in 2030 at a CAGR of 3.9% during the forecast period from 2025 to 2030.

The gas turbine is the internal - combustion engine at the core of Gas Turbine Combined Cycle (GTCC) power plants. The major growth driver of this market is the increasing energy demand. Efficient and reliable power generation solutions fueled by rapid industrialization and urbanization are needed due to the quick startup capabilities and remarkable fuel efficiency where turbines emerged as a preferred choice. Broad research and development (R&D) initiatives are ensuring these turbines to remain at the forefront of technological innovation. Environmental concerns and regulatory pressures are the restraints of the gas turbines market which can be addressed through advancements in turbine efficiency, emissions reduction and embracing digital solutions for predictive maintenance. 

Browse 62 market data Tables and 40 Figures spread through 204 Pages and in-depth TOC on Gas Turbines Market By Design Type (Heavy Duty and Aeroderivative), By Technology (Open Cycle and Combined Cycle), By Rated Capacity (1-40 MW, 40-120 MW, 120-300 MW and Above 300 MW), By End-User (Power Generation, Oil and Gas, Mobility and Others) and By Geography (North America, Europe, Asia-Pacific, Latin America, Middle East And Africa) - Global Forecast to 2030.

Global Gas Turbines Market Segmentation and Key Players

By design, heavy duty dominate the global gas turbines market.

The heavy duty type emerged as the largest segment as these gas turbines are robust, large-scale machines designed for high-power applications, such as utility and industrial power plants. Rapid technological advancements is leading to the growth of this market.

“Asia Pacific is anticipated to register the fastest CAGR during the forecast period, i.e., 2025-2030 in the global gas turbines market”

Asia Pacific dominates the Gas Turbines Market during the forecast period due to rapid urbanization and industrialization whereas other regions, including North America and Europe, focus on sustainable energy transitions. 

Some of the key players in this market are General Electric, Mitsubishi Heavy Industries Ltd., Kawasaki Heavy Industries, Ltd., Siemens Energy, Rolls-Royce plc, Capstone Green Energy Corporation, AnsaldoEnergia, Harbin Electric Machinery Company Limited, OPRA Turbines.

Recent Development by Key Players

Ansaldo Energia (Italian power engineering firm) has started the EP Produzione Tavazzano and Montanaso thermoelectric power plant of 800MW power unit which is capable of satisfying the annual consumption of over 1 and a half million households.

Global gas turbines market coverage (By Value)

• Design Insight and Forecast 2025-2030
  • Aeroderivative
  •  Heavy duty
• Technology Insight and Forecast 2025-2030
  • Open cycle
  • Combined cycle
• Rated Capacity Insight and Forecast 2025-2030
  • 1-40 MW
  • 40-120 MW
  • 120-300 MW
  • Above 300 MW
• End-User Insight and Forecast 2025-2030
  • Power Generation
  • Oil and Gas
  • Mobility
  • Others

Geographical Segmentation

Global Gas Turbines Market by Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia-Pacific (APAC)
  • China
  • Japan
  • South Korea
  • India
  • Australia
  • Rest of APAC
• Latin America
  • Brazil
  • Argentina
  • Rest of Latine America
• Middle East and Africa
  • Turkey
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA