Gas Turbines Market By Capacity (≤200 MW, >200 MW); By End Use (Industrial, Power & Utility); By Technology (Combined Cycle, Open Cycle); By Region – Growth, Share, Opportunities & Competitive Analysis, 2024 – 2032
The Gas Turbines Market size was valued at USD 10,100.00 million in 2018, reached USD 10,902.16 million in 2024, and is anticipated to reach USD 13,530.93 million by 2032, at a CAGR of 2.79% during the forecast period.
REPORT ATTRIBUTE
DETAILS
Historical Period
2020-2023
Base Year
2024
Forecast Period
2025-2032
Gas Turbines Market Size 2024
USD 10,902.16 Million
Gas Turbines Market, CAGR
2.79%
Gas Turbines Market Size 2032
USD 13,530.93 Million
The growing demand for cleaner, more efficient energy generation is driving the expansion of the Gas Turbines Market. As governments and industries focus on reducing emissions and improving energy efficiency, gas turbines are being increasingly adopted in power generation. Technological advancements, including the development of hydrogen-ready and combined cycle turbines, further fuel growth. The push toward sustainable energy solutions and regulatory policies favoring natural gas over coal contribute to the strong market momentum.
The Asia Pacific region leads the Gas Turbines Market, driven by rapid industrialization, urbanization, and energy demands in countries like China, India, and Japan. North America follows closely, with the U.S. and Canada investing heavily in cleaner energy solutions and upgrading existing power plants. Europe also maintains a strong market presence, with a focus on decarbonization initiatives. Emerging markets in Latin America, the Middle East, and Africa are also expected to see significant growth as they expand energy infrastructure and shift towards natural gas-based power generation.
Access crucial information at unmatched prices!
Request your sample report today & start making informed decisions powered by Credence Research Inc.!
The Gas Turbines Market size was valued at USD 10,100.00 million in 2018, reached USD 10,902.16 million in 2024, and is expected to grow to USD 13,530.93 million by 2032, at a CAGR of 2.79% during the forecast period.
North America, Asia Pacific, and Europe dominate the Gas Turbines Market, with Asia Pacific holding the largest share (approximately 37%), driven by rapid industrialization and high energy demands in countries like China and India. North America follows (around 34%), driven by advanced infrastructure and renewable energy integration. Europe ranks third (approximately 30%), focusing on decarbonization and energy efficiency.
The fastest-growing region is Asia Pacific, with a projected growth rate of 3.6%. This growth is driven by increasing energy demand and industrialization, particularly in countries like China and India.
The capacity segment breakdown shows that turbines with a capacity of >200 MW represent a larger market share (around 62%), driven by the need for large-scale power generation, compared to turbines with <=200 MW (38%).
The market share by end use shows a greater demand for gas turbines in the power & utility sector (around 65%), followed by industrial applications (35%), reflecting the emphasis on large-scale energy generation.
Market Drivers
Shift Towards Cleaner Energy Sources
The Gas Turbines Market is seeing significant growth due to the global transition to cleaner energy. As countries aim to reduce greenhouse gas emissions, gas turbines offer a more environmentally friendly option compared to traditional coal-based power generation. Their higher efficiency and lower carbon footprint make them attractive to governments and industries aiming to meet sustainability targets. The shift towards natural gas-powered systems is a key driver, as they can seamlessly integrate with renewable energy sources, enhancing grid reliability.
For instance, General Electric and EDF commissioned the world’s most efficient combined-cycle power plant at Bouchain, France, using GE’s 9HA.01 gas turbine, which achieved a third-party verified net efficiency of 62.22% during official testing and was recognized by Guinness World Records; the plant replaced older coal units and reduced site CO₂ emissions by 50% and SOx emissions by 95%.
Growing Demand for Efficient Power Generation
The increasing global demand for reliable and efficient power generation is driving the adoption of gas turbines. These turbines are known for their ability to provide quick ramp-up times, ensuring grid stability. Their ability to respond quickly to fluctuating electricity demands makes them highly suitable for regions with growing energy consumption. This demand is particularly strong in developing nations, where power infrastructure is expanding rapidly to meet the needs of urbanization and industrialization.
For instance, Siemens Energy’s SGT6-8000H heavy-duty gas turbine, installed at Burullus Power Plant in Egypt as part of the Egypt Megaproject, enables rapid grid response with the capability to reach 200 MW output in 10 minutes and supports a combined cycle efficiency of nearly 61%, contributing to the plant’s ability to reliably supply power to millions of residents while expanding national capacity by 4.8 GW.
Advances in Combined Cycle Power Plants
Advancements in combined cycle power plants are propelling the Gas Turbines Market. The integration of gas turbines with steam turbines in combined cycle systems improves overall efficiency, providing greater energy output per unit of fuel consumed. These systems are becoming increasingly popular in both developed and emerging markets, where the focus is on maximizing energy efficiency and reducing operational costs. This technological innovation allows for a better utilization of resources and a more sustainable energy production process.
Government Policies and Incentives
Government policies promoting the adoption of low-emission technologies are fueling growth in the Gas Turbines Market. Several governments are offering financial incentives and subsidies to encourage industries to adopt cleaner technologies. Policies favoring natural gas over coal are further accelerating this trend, making gas turbines a favorable choice. Furthermore, international climate agreements and carbon emission reduction commitments are creating a favorable environment for the growth of natural gas-based power generation.
Market Trends
Emergence of Hybrid Power Systems
The Gas Turbines Market is witnessing a rise in hybrid power systems that combine gas turbines with renewable energy sources. These hybrid systems aim to improve power generation efficiency while reducing carbon emissions. Gas turbines serve as backup power sources for renewable energy like wind and solar, which are intermittent in nature. This trend is particularly relevant in regions with abundant renewable energy potential, where hybrid systems provide an effective solution for stabilizing the grid.
Technological Advancements in Turbine Design
Continuous technological advancements in turbine design are transforming the Gas Turbines Market. Manufacturers are focusing on improving the overall performance and efficiency of turbines. Innovations include the development of advanced materials capable of withstanding higher temperatures and pressures, enhancing turbine efficiency. These advancements are helping reduce operational costs and extend the lifespan of gas turbines, making them a more attractive option for power generation companies.
For instance, Mitsubishi Power developed its J-Series gas turbines, incorporating ceramic matrix composite materials and advanced air cooling designs, which allow a turbine inlet temperature of 1,600°C and achieve verified combined cycle efficiency of at least 63% as demonstrated in joint projects with Tohoku Electric Power Co., Inc. The system’s advanced cooling mechanisms and fuel nozzles are validated in demonstration facility results and international publications.
Growing Adoption in Industrial and Marine Applications
The Gas Turbines Market is expanding beyond power generation into industrial and marine applications. Gas turbines are increasingly being used in industries such as oil and gas, chemicals, and manufacturing, where high-efficiency power generation is required. In the marine sector, gas turbines are being adopted for propulsion systems in naval and commercial ships, offering benefits like reduced fuel consumption and increased operational efficiency. This trend is driving the market’s diversification and increasing demand for gas turbines in non-traditional sectors.
For instance, GE’s LM2500 marine gas turbine engines have been installed in over 1,500 naval vessels worldwide, including the U.S. Navy’s Arleigh Burke destroyers, and have logged more than 16 million operating hours with over 99% reliability and best-in-class fuel efficiency. These engines feature modular construction enabling in-place maintenance and are actively used by 39 navies globally, according to official GE Aerospace technical documents.
Focus on Digitalization and Smart Grid Integration
Digitalization is becoming a major trend in the Gas Turbines Market. The integration of digital technologies, such as sensors, real-time data analytics, and artificial intelligence, is enhancing the efficiency and reliability of gas turbines. These technologies allow operators to monitor performance, predict maintenance needs, and optimize turbine operation. The rise of smart grids is also contributing to the increased demand for gas turbines, as they can provide fast-reacting backup power for grid stability and support the integration of renewable energy sources.
Market Challenges Analysis
High Initial Investment Costs
One of the main challenges in the Gas Turbines Market is the high initial investment cost. Gas turbines require significant capital for procurement, installation, and commissioning. This upfront investment can be a barrier for some power generation companies, especially in developing markets where financial resources may be limited. Despite their long-term operational savings, the initial costs remain a significant hurdle for widespread adoption, particularly in price-sensitive markets.
Fuel Supply and Infrastructure Constraints
Another challenge is the reliance on natural gas as the primary fuel source for gas turbines. While natural gas is abundant, its supply and infrastructure remain limited in certain regions. Inadequate pipeline networks and storage facilities can lead to fuel supply disruptions, affecting the continuous operation of gas turbines. Additionally, fluctuations in natural gas prices can create uncertainties for power generation companies, impacting their long-term profitability.
Market Opportunities
Integration with Renewable Energy Systems
The growing need for renewable energy integration presents a significant opportunity for the Gas Turbines Market. Gas turbines can complement intermittent renewable energy sources such as wind and solar, ensuring a stable and reliable power supply. Hybrid systems that combine renewable energy with gas turbines are becoming more popular as they offer a cost-effective way to achieve higher efficiency. This growing demand for hybrid solutions presents significant growth potential for gas turbine manufacturers.
Expansion in Emerging Markets
The expansion of power infrastructure in emerging markets offers a substantial opportunity for the Gas Turbines Market. Many developing countries are increasing their investments in energy generation capacity to meet the rising demand for electricity. Gas turbines, with their ability to deliver high efficiency and low emissions, are well-positioned to play a key role in these expanding markets. This demand from emerging economies, particularly in Asia-Pacific, the Middle East, and Africa, creates long-term growth opportunities for manufacturers and suppliers in the gas turbine industry.
Market Segmentation Analysis:
The Gas Turbines Market is broadly segmented by capacity, end-use, and technology.
By Capacity
The market is divided into two capacity categories: <=200 MW and >200 MW. Turbines with a capacity of <=200 MW are widely used in industrial applications, where space constraints and lower power demands dictate their suitability. These turbines offer efficiency and flexibility for smaller-scale operations. On the other hand, turbines with capacities greater than 200 MW are primarily used for large-scale power generation, offering higher efficiency and reliability in utility and industrial settings.
By End Use
The Gas Turbines Market is categorized into industrial and power & utility segments. The industrial sector utilizes gas turbines for combined heat and power (CHP) systems, providing on-site electricity and thermal energy. Power & utility plants dominate the demand for large-scale gas turbines, where these units play a critical role in meeting the ever-growing electricity demand while offering better fuel efficiency compared to conventional systems.
For instance, Mitsubishi Power’s M501J series gas turbine, used in CHP and utility deployments, has been documented to deliver up to 484 MW in simple cycle and over 664 MW in combined cycle settings, with documented plant efficiencies greater than 64% (LHV),
By Technology
The market is also segmented based on technology, primarily into combined cycle and open cycle systems. Combined cycle systems are more efficient as they use both gas and steam turbines, increasing overall plant efficiency. Open cycle systems, while less efficient, offer quicker start-up times and are suitable for applications requiring flexible operation. Gas turbines in combined cycle systems are more commonly used in power & utility plants, while open cycle turbines are often favored for smaller industrial applications requiring rapid deployment.
For instance, the Bouchain power plant (France) equipped with GE’s 9HA turbine set the world record for most efficient combined-cycle power plant, documented at 62.22% net CC efficiency. Open cycle systems, while less efficient, offer quicker start-up times for rapid deployment.
Segmentation:
By Capacity
<=200 MW
200 MW
By End Use
Industrial
Power & Utility
By Technology
Combined Cycle
Open Cycle
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Spain
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
South-east Asia
Rest of Asia Pacific
Latin America
Brazil
Argentina
Rest of Latin America
Middle East & Africa
GCC Countries
South Africa
Rest of the Middle East and Africa
Regional Analysis:
North America Gas Turbines Market
The North America Gas Turbines Market size was valued at USD 2,696.70 million in 2018, reached USD 2,862.84 million in 2024, and is anticipated to reach USD 3,546.48 million by 2032, at a CAGR of 2.8% during the forecast period. The region holds a significant share in the global market due to the growing demand for natural gas and the expansion of the energy infrastructure. The U.S. is the largest contributor, driven by increasing investments in renewable energy integration and the replacement of aging power plants with more efficient gas turbines. Canada also plays a key role, with a focus on reducing emissions and enhancing energy efficiency. The market is witnessing a shift towards hybrid systems combining gas turbines with renewable energy, offering reliable power generation solutions. The demand for both industrial and utility-based gas turbines is expected to remain strong throughout the forecast period. North America maintains a strong market share in the global Gas Turbines Market, primarily due to its technological advancements and infrastructure investments.
Europe Gas Turbines Market
The Europe Gas Turbines Market size was valued at USD 2,555.30 million in 2018, reached USD 2,646.75 million in 2024, and is anticipated to reach USD 3,095.24 million by 2032, at a CAGR of 2.0% during the forecast period. Europe’s market is driven by its push for low-emission technologies and energy efficiency improvements. The European Union’s regulatory framework on carbon emissions is a key driver for gas turbine adoption. Countries like Germany, France, and the UK are investing heavily in transitioning from coal to natural gas and renewable energy. The integration of gas turbines into hybrid systems is also gaining momentum, particularly in countries with significant renewable energy capacities. Europe’s focus on decarbonization and sustainability keeps its market growth steady, although slower than other regions.
Asia Pacific Gas Turbines Market
The Asia Pacific Gas Turbines Market size was valued at USD 3,817.80 million in 2018, reached USD 4,239.26 million in 2024, and is anticipated to reach USD 5,619.41 million by 2032, at a CAGR of 3.6% during the forecast period. Asia Pacific holds the largest market share, driven by rapid industrialization and urbanization in countries like China, India, and Japan. Growing energy demand, coupled with a push for cleaner energy solutions, is driving the adoption of gas turbines. The region is experiencing high investments in infrastructure and power generation to meet rising electricity needs. Additionally, the integration of natural gas into power grids, as well as the increasing focus on energy security, are supporting market growth. The demand for both industrial and utility-scale turbines is strong, especially in emerging economies.
Latin America Gas Turbines Market
The Latin America Gas Turbines Market size was valued at USD 493.89 million in 2018, reached USD 526.47 million in 2024, and is anticipated to reach USD 592.25 million by 2032, at a CAGR of 1.6% during the forecast period. The market in this region is driven by the growing demand for energy in countries such as Brazil, Mexico, and Argentina. Natural gas plays a significant role in the region’s energy mix, with gas turbines being a key technology for power generation. However, the market growth is slower compared to other regions due to economic challenges and fluctuating fuel prices. Despite this, the demand for gas turbines in industrial and power generation sectors is steady, with a focus on enhancing energy efficiency and meeting growing energy needs.
Middle East Gas Turbines Market
The Middle East Gas Turbines Market size was valued at USD 318.15 million in 2018, reached USD 317.18 million in 2024, and is anticipated to reach USD 346.47 million by 2032, at a CAGR of 1.2% during the forecast period. The region is characterized by its vast natural gas reserves, making gas turbines a preferred technology for power generation. Countries like Saudi Arabia, the UAE, and Qatar are investing in advanced gas turbine technologies to support their energy infrastructure and reduce reliance on oil. The region’s demand for gas turbines is driven by industrial growth, particularly in oil and gas, as well as expanding power needs. However, the market is facing slower growth due to economic diversification efforts and the region’s shift towards renewables.
Africa Gas Turbines Market
The Africa Gas Turbines Market size was valued at USD 218.16 million in 2018, reached USD 309.67 million in 2024, and is anticipated to reach USD 331.09 million by 2032, at a CAGR of 0.5% during the forecast period. Africa’s market for gas turbines is relatively small but growing due to increasing investments in energy infrastructure. Countries like South Africa and Egypt are key markets for gas turbines, driven by the need for reliable and efficient power generation. The region faces challenges such as economic instability, but the demand for gas turbines in the industrial and power generation sectors is increasing. The growth potential is tempered by infrastructure limitations and slower adoption rates compared to other regions, yet the market remains steady.
The Gas Turbines Market is highly competitive, with key players striving to innovate and expand their market presence. Leading companies such as General Electric (GE), Siemens Energy, Mitsubishi Power, and Ansaldo Energia dominate the market by offering advanced and efficient gas turbines. These companies focus on enhancing turbine performance, reducing emissions, and improving fuel efficiency. They also prioritize strategic partnerships, mergers, and acquisitions to strengthen their market position. Manufacturers are investing in research and development to introduce next-generation turbines with improved operational flexibility, lower maintenance costs, and higher efficiency. Regional players also contribute to the competition by focusing on localized solutions and adapting to specific energy needs. The increasing demand for clean energy solutions and hybrid systems presents growth opportunities, as companies expand their product portfolios to meet evolving market requirements and regulatory standards.
Shape Your Report to Specific Countries or Regions & Enjoy 30% Off!
In October 2025, Kawasaki Heavy Industries launched the world’s first commercial 30% hydrogen co-firing large gas engine system, offering high-efficiency distributed power generation with advanced hydrogen safety and retrofit features. This innovation enables practical decarbonization for industrial clients, leveraging existing infrastructure while boosting hydrogen utilization underscoring Kawasaki’s leadership in hydrogen-ready gas turbine technologies.
In October 2025, GE Vernova and YTL PowerSeraya announced a new partnership to conduct a carbon capture feasibility study for YTL’s gas turbine plant in Singapore. This collaboration aims to explore the integration of carbon capture technologies with existing gas turbines, supporting Singapore’s decarbonization ambitions and furthering efforts to lower emissions from gas-fired power generation facilities.
In September 2025, Siemens Energy signed landmark letters of intent with Fermi America to supply three F-class SGT6-5000F gas turbines capable of generating up to 1.1 GW for a major AI-focused energy campus in Texas, slated for delivery in 2026.
Report Coverage:
The research report offers an in-depth analysis based on Capacity, End Use and Technology. It details leading market players, providing an overview of their business, product offerings, investments, revenue streams, and key applications. Additionally, the report includes insights into the competitive environment, SWOT analysis, current market trends, as well as the primary drivers and constraints. Furthermore, it discusses various factors that have driven market expansion in recent years. The report also explores market dynamics, regulatory scenarios, and technological advancements that are shaping the industry. It assesses the impact of external factors and global economic changes on market growth. Lastly, it provides strategic recommendations for new entrants and established companies to navigate the complexities of the market.
Future Outlook:
The Gas Turbines Market is expected to witness steady growth as demand for cleaner energy solutions rises.
Innovations in turbine technology, such as enhanced fuel efficiency and reduced emissions, will drive market advancements.
Hybrid power systems integrating gas turbines with renewable sources will increase in popularity, offering flexible energy solutions.
The transition to natural gas from coal in several regions will enhance the demand for gas turbines in power plants.
Technological advancements in combined cycle and open cycle systems will improve operational efficiency and lower costs.
Emerging economies, particularly in Asia Pacific, will see increasing investments in gas turbine technology due to rising energy needs.
The shift towards decentralized power generation and distributed energy systems will boost small-scale gas turbine adoption.
Environmental regulations and emission standards will further promote the use of gas turbines in power generation.
The ongoing development of smart grids will require more efficient and responsive turbine technologies to support energy distribution.
Gas turbine manufacturers will continue to expand their product offerings to meet the growing demand from industrial and utility sectors.
5.3 Segmental Wealth Flow – Capacity & End Use Revenue
CHAPTER NO. 6 : TRADE & COMMERCE ANALYSIS
6.1. Import Analysis by Region
6.1.1. Global Gas Turbines Market Import Revenue By Region
6.2. Export Analysis by Region
6.2.1. Global Gas Turbines Market Export Revenue By Region
CHAPTER NO. 7 : COMPETITION ANALYSIS
7.1. Company Market Share Analysis
7.1.1. Global Gas Turbines Market: Company Market Share
7.2. Global Gas Turbines Market Company Revenue Market Share
7.3. Strategic Developments
7.3.1. Acquisitions & Mergers
7.3.2. New Capacity Launch
7.3.3. Regional Expansion
7.4. Competitive Dashboard
7.5. Company Assessment Metrics, 2024
CHAPTER NO. 8 : GAS TURBINES MARKET – BY CAPACITY SEGMENT ANALYSIS
8.1. Gas Turbines Market Overview by Capacity Segment
8.1.1. Gas Turbines Market Revenue Share By Capacity
8.2. <=200 MW
8.3. >200 MW
CHAPTER NO. 9 : GAS TURBINES MARKET – BY END USE SEGMENT ANALYSIS
9.1. Gas Turbines Market Overview by End Use Segment
9.1.1. Gas Turbines Market Revenue Share By End Use
9.2. Industrial
9.3. Power & Utility
CHAPTER NO. 10 : GAS TURBINES MARKET – BY TECHNOLOGY SEGMENT ANALYSIS
10.1. Gas Turbines Market Overview by Technology Segment
10.1.1. Gas Turbines Market Revenue Share By Technology
10.2. Combined Cycle
10.3. Open Cycle
CHAPTER NO. 11 : GAS TURBINES MARKET – REGIONAL ANALYSIS
11.1. Gas Turbines Market Overview by Region Segment
11.1.1. Global Gas Turbines Market Revenue Share By Region
11.1.3. Regions
11.1.4. Global Gas Turbines Market Revenue By Region
.1.6. Capacity
11.1.7. Global Gas Turbines Market Revenue By Capacity
11.1.9. End Use
11.1.10. Global Gas Turbines Market Revenue By End Use
11.1.12. Technology
11.1.13. Global Gas Turbines Market Revenue By Technology
CHAPTER NO. 12 : NORTH AMERICA GAS TURBINES MARKET – COUNTRY ANALYSIS
12.1. North America Gas Turbines Market Overview by Country Segment
12.1.1. North America Gas Turbines Market Revenue Share By Region
12.2. North America
12.2.1. North America Gas Turbines Market Revenue By Country
12.2.2. Capacity
12.2.3. North America Gas Turbines Market Revenue By Capacity
12.2.4. End Use
12.2.5. North America Gas Turbines Market Revenue By End Use
2.2.6. Technology
12.2.7. North America Gas Turbines Market Revenue By Technology
2.3. U.S.
12.4. Canada
12.5. Mexico
CHAPTER NO. 13 : EUROPE GAS TURBINES MARKET – COUNTRY ANALYSIS
13.1. Europe Gas Turbines Market Overview by Country Segment
13.1.1. Europe Gas Turbines Market Revenue Share By Region
13.2. Europe
13.2.1. Europe Gas Turbines Market Revenue By Country
13.2.2. Capacity
13.2.3. Europe Gas Turbines Market Revenue By Capacity
13.2.4. End Use
13.2.5. Europe Gas Turbines Market Revenue By End Use
13.2.6. Technology
13.2.7. Europe Gas Turbines Market Revenue By Technology
13.3. UK
13.4. France
13.5. Germany
13.6. Italy
13.7. Spain
13.8. Russia
13.9. Rest of Europe
CHAPTER NO. 14 : ASIA PACIFIC GAS TURBINES MARKET – COUNTRY ANALYSIS
14.1. Asia Pacific Gas Turbines Market Overview by Country Segment
14.1.1. Asia Pacific Gas Turbines Market Revenue Share By Region
14.2. Asia Pacific
14.2.1. Asia Pacific Gas Turbines Market Revenue By Country
14.2.2. Capacity
14.2.3. Asia Pacific Gas Turbines Market Revenue By Capacity
14.2.4. End Use
14.2.5. Asia Pacific Gas Turbines Market Revenue By End Use
14.2.5. Technology
14.2.7. Asia Pacific Gas Turbines Market Revenue By Technology
14.3. China
14.4. Japan
14.5. South Korea
14.6. India
14.7. Australia
14.8. Southeast Asia
14.9. Rest of Asia Pacific
CHAPTER NO. 15 : LATIN AMERICA GAS TURBINES MARKET – COUNTRY ANALYSIS
15.1. Latin America Gas Turbines Market Overview by Country Segment
15.1.1. Latin America Gas Turbines Market Revenue Share By Region
15.2. Latin America
15.2.1. Latin America Gas Turbines Market Revenue By Country
15.2.2. Capacity
15.2.3. Latin America Gas Turbines Market Revenue By Capacity
15.2.4. End Use
15.2.5. Latin America Gas Turbines Market Revenue By End Use
15.2.6. Technology
15.2.7. Latin America Gas Turbines Market Revenue By Technology
15.3. Brazil
15.4. Argentina
15.5. Rest of Latin America
CHAPTER NO. 16 : MIDDLE EAST GAS TURBINES MARKET – COUNTRY ANALYSIS
16.1. Middle East Gas Turbines Market Overview by Country Segment
16.1.1. Middle East Gas Turbines Market Revenue Share By Region
16.2. Middle East
16.2.1. Middle East Gas Turbines Market Revenue By Country
16.2.2. Capacity
16.2.3. Middle East Gas Turbines Market Revenue By Capacity
16.2.4. End Use
16.2.5. Middle East Gas Turbines Market Revenue By End Use
16.2.6. Technology
16.2.7. Middle East Gas Turbines Market Revenue By Technology
16.3. GCC Countries
16.4. Israel
16.5. Turkey
16.6. Rest of Middle East
CHAPTER NO. 17 : AFRICA GAS TURBINES MARKET – COUNTRY ANALYSIS
17.1. Africa Gas Turbines Market Overview by Country Segment
17.1.1. Africa Gas Turbines Market Revenue Share By Region
17.2. Africa
17.2.1. Africa Gas Turbines Market Revenue By Country
17.2.2. Capacity
17.2.3. Africa Gas Turbines Market Revenue By Capacity
17.2.4. End Use
17.2.5. Africa Gas Turbines Market Revenue By End Use
17.2.6. Technology
17.2.7. Africa Gas Turbines Market Revenue By Technology
17.3. South Africa
17.4. Egypt
17.5. Rest of Africa
CHAPTER NO. 18 : COMPANY PROFILES
18.1. Ansaldo Energia
18.1.1. Company Overview
18.1.2. Capacity Portfolio
18.1.3. Financial Overview
18.1.4. Recent Developments
18.1.5. Growth Strategy
18.1.6. SWOT Analysis
18.2. Bharat Heavy Electricals Ltd. (BHEL)
18.3. Centrax Gas Turbines
18.4. General Electric (GE)
18.5. Kawasaki Heavy Industries, Ltd.
18.6. MAN Energy Solutions
18.7. Mitsubishi Power, Ltd.
18.8. OPRA Turbines
18.9. Siemens Energy
18.10. Solar Turbines Inc.
Request A Free Sample
We prioritize the confidentiality and security of your data. Our promise: your information remains private.
Ready to Transform Data into Decisions?
Request Your Sample Report and Start Your Journey of Informed Choices
Providing the strategic compass for industry titans.
Frequently Asked Questions
What is the current market size for the Gas Turbines Market, and what is its projected size in 2032?
The Gas Turbines Market size was valued at USD 10,902.16 million in 2024 and is expected to reach USD 13,530.93 million by 2032, reflecting steady growth due to increasing energy demands.
At what Compound Annual Growth Rate is the Gas Turbines Market projected to grow between 2024 and 2032?
The Gas Turbines Market is projected to grow at a CAGR of 2.79% between 2024 and 2032, driven by technological advancements and the global shift to cleaner energy.
Which Gas Turbines Market segment held the largest share in 2024?
In 2024, the industrial segment of the Gas Turbines Market held the largest share, fueled by growing industrial energy demands and the need for reliable, efficient power generation.
What are the primary factors fueling the growth of the Gas Turbines Market?
Key drivers for the Gas Turbines Market include the shift towards cleaner energy, rising demand for efficient power generation, and regulatory incentives for low-emission technologies.
Who are the leading companies in the Gas Turbines Market?
Leading companies in the Gas Turbines Market include General Electric (GE), Siemens Energy, Mitsubishi Power, Ansaldo Energia, and MAN Energy Solutions, known for their technological innovations and market leadership.
Which region commanded the largest share of the Gas Turbines Market in 2024?
In 2024, Asia Pacific commanded the largest share of the Gas Turbines Market, driven by rapid industrialization and increasing energy demands across countries like China and India.
About Author
Ganesh Chandwade
Senior Industry Consultant
Ganesh is a senior industry consultant specializing in heavy industries and advanced materials.
The Smart Electric Meter market was valued at USD 25.39 billion in 2024 and is projected to reach USD 54.42 billion by 2032, registering a CAGR of 10% during the forecast period.
The Smart Solar System Market was valued at USD 20.07 billion in 2024 and is projected to reach USD 58.46 billion by 2032, expanding at a CAGR of 14.3% during the forecast period.
The global Small Engine Market was valued at USD 18.79 billion in 2024 and is projected to reach USD 23.78 billion by 2032, growing at a CAGR of 2.99% during the forecast period.
The global ring main unit market was valued at USD 2.49 billion in 2024 and is projected to reach USD 3.81 billion by 2032, growing at a CAGR of 5.5% during the forecast period.
The Green Petroleum Coke Market size was valued at USD 15,200.00 million in 2018 to USD 18,724.26 million in 2024 and is anticipated to reach USD 30,591.92 million by 2032, at a CAGR of 6.40% during the forecast period.
The LPG Tanker market size was valued at USD 210.1 billion in 2024 and is anticipated to reach USD 324.89 billion by 2032, at a CAGR of 5.6% during the forecast period.
The Seismic Services Market size was valued at USD 9.02 Billion in 2024 and is anticipated to reach USD 11.81 Billion by 2032, at a CAGR of 3.43% during the forecast period.
Rooftop Solar PV Module Market size was valued at USD 38.49 billion in 2024 and is anticipated to reach USD 60.42 billion by 2032, at a CAGR of 5.8% during the forecast period.
The Small Wind Turbine Market size was valued at USD 3.61 billion in 2024 and is anticipated to reach USD 8.15 billion by 2032, growing at a CAGR of 10.7% during the forecast period (2025–2032).
The flywheel synchronous condenser market size was valued at USD 212.75 million in 2024 and is anticipated to reach USD 533.26 million by 2032, at a CAGR of 8.7% during the forecast period.
The Solar Power Windows Market size was valued at USD 800.00 million in 2018 to USD 1,599.34 million in 2024 and is anticipated to reach USD 8,617.81 million by 2032, at a CAGR of 23.56% during the forecast period.
Renewable Energy Carbon Credit Market size was valued USD 2.79 billion in 2024 and is anticipated to reach USD 12.06 billion by 2032, at a CAGR of 20.1% during the forecast period.
Licence Option
The report comes as a view-only PDF document, optimized for individual clients. This version is recommended for personal digital use and does not allow printing. Use restricted to one purchaser only.
$4999
To meet the needs of modern corporate teams, our report comes in two formats: a printable PDF and a data-rich Excel sheet. This package is optimized for internal analysis. Unlimited users allowed within one corporate location (e.g., regional office).
$6999
The report will be delivered in printable PDF format along with the report’s data Excel sheet. This license offers 100 Free Analyst hours where the client can utilize Credence Research Inc. research team. Permitted for unlimited global use by all users within the purchasing corporation, such as all employees of a single company.
Thank you for the data! The numbers are exactly what we asked for and what we need to build our business case.
Materials Scientist (privacy requested)
The report was an excellent overview of the Industrial Burners market. This report does a great job of breaking everything down into manageable chunks.
