Gas Turbine Market Overview

The Gas Turbine is anticipated to grow significantly from 2025 to 2035, driven by the increasing demand for efficient and reliable power generation technologies across various sectors. By 2025, the market is projected to reach a value of around USD 26.8 Billion. Looking ahead to 2035, it is expected to expand further to about USD 38.9 Billion. This represents an annual growth rate of 4.5% over the ten-year period.

Gas turbines, with their favorable power-to-weight and efficiency characteristics, have a vast array of applications in power generation, aviation, and industries. Some of the key drivers of market growth include the international focus on decarbonization and the use of low-emission technologies. Gas turbines, particularly in combined cycle power plants, have lower greenhouse gas emissions than coal-fired equipment and suit the environmental policies of several countries. Trends in the market also show a steady use of gas turbines in distributed power systems and cogeneration plants that improve efficiencies and cut operating expenses. In addition, continuous innovations in turbine technology, like the creation of more efficient aero-derivative turbines and integration with digital monitoring systems, will have a beneficial effect on the projected market growth. Further, the rising emphasis on hybrid power systems, integrating power from renewable energy and gas turbines to ensure power grid stability, also widens the market potential. With increased innovation and development of new energy strategies globally, the gas turbine market worldwide will see dynamic growth over the next few years.

Gas Turbine Market Drivers And Opportunities

Rising Demand For Cleaner Power Generation Technologies Is Anticipated To Lift The Gas Turbine Market During The Forecast Period

​The increased focus to cut greenhouse gas emissions and switch to cleaner fuels is strongly driving the market for gas turbines. During combined-cycle operations, gas turbines emit much less carbon dioxide than their counterparts in conventional coal-based power plants. As regulatory pressures mount with governments and international environmental agencies, such as the Paris Agreement, and industries and utilities turn to gas turbine technology as a transitional bridge between renewable and fossil fuels, significant investments are pouring in. Technological innovations have also spurred the creation of high-efficiency gas turbines that operate efficiently with natural gas and alternative fuels like hydrogen to meet the requirements of sustainability. This clean energy benefit is especially appealing to those nations aiming to decarbonize their power grid without giving away reliability or efficiency. In developing markets where the power source is still fueled by coal, gas turbines are a good alternative to meet near-term emissions targets. In regions where renewable power like solar and wind is intermittent and cannot be relied upon to feed power to baseloads, gas turbines' adaptability to complement such power works in their favor. As worldwide shifts continue in favor of greener power infrastructures, the market is expected to see a steady growth in demand for sophisticated, low-emitting gas turbines, strengthening this segment as a key player in power-generation practices.

Increased Global Electricity Consumption And Infrastructure Expansion Is A Vital Driver For Influencing The Growth Of The Global Gas Turbine Market

​The steady growth in power demand, fueled by industrialization, population growth, and urbanization, especially in emerging economies, is a key driver boosting the market for gas turbines. Developing economies in Asia, Africa, and the Middle East are investing aggressively in power generating assets to meet power shortages and facilitate economic growth. Gas turbines, with their faster start-up and high efficiency operations, are well suited to meet peak power demands and maintain grid stability. Additionally, various development programs by the governments in the areas of power generation and distribution that include gas turbine technology are upgrading and expanding their energy sectors. In areas where there are rich natural gas reserves like North America and the Middle East, availability of indigenous resources too encourages deployment of gas turbines as an economic and reliable source of power. In addition, the versatility of gas turbines with combined heat and power and distributed power applications also increases their market potential in catering to localized power demand. As development of infrastructures will continue to be a pillar of national development strategies, adoption of gas turbines in power projects will see a surge with the prospect of long-term market expansion and investment.

Adoption Of Hydrogen And Low-Carbon Fuels In Gas Turbines Is Poised To Create Significant Opportunities In The Global Gas Turbine Market

​The international quest to decarbonize is unveiling new frontiers for gas turbines with the use of hydrogen and other low-carbon fuels. Natural gas turbines are being redesigned to burn a blend of natural gas and hydrogen, with some OEMs producing turbines that burn 100% hydrogen. Hydrogen, when created by renewable power (green hydrogen), is a zero-emissions fuel and justifies hydrogen-ready gas turbines as a key technology in power system future-proofing. Hydrogen-focused investments are underway in many markets, especially in the markets of Europe and Asia-Pacific, in terms of hydrogen infrastructures such as production, storage, and distribution to back the commercialization of hydrogen-based gas turbine offerings. Incentives and investments by the government to promote clean hydrogen projects, and special allocations of funds to encourage research and development and early installations of hydrogen-fueled turbines, are also driving R&D and early installations. Not only do these innovations cut carbon emissions, but by combining with renewable resources, they also offer a flexible energy storage mechanism. The capability to retrofit current gas turbines to be hydrogen-compatible makes this prospect all the more compelling by enabling utilities to decarbonize their installed power assets at a relatively affordable cost. As hydrogen emerges as a global energy transport medium, hydrogen-capable and built or retrofitted gas turbines stand to benefit with robust demand, enabling a new wave of market growth.

Gas Turbine Market Scope

Gas Turbine Market Report Segmentation Analysis

The Global Gas Turbine Market Industry Analysis Is Segmented Into By Technology, By Capacity, By End-Use, And By Region.

The Open Cycle Segment Is Anticipated To Hold The Highest Share Of The Global Gas Turbine Market During The Projected Timeframe

The global gas turbine market is segmented by technology into Open Cycle and Combined Cycle, with Open Cycle systems projected to dominate with 72.3% market share during the forecast period. These turbines are favored for their rapid power generation, making them ideal for peak load demand, emergency backup, and grid stabilization. Their quick start-up time, operational flexibility, and lower upfront costs give them an edge in regions with urgent energy needs or limited infrastructure. Additionally, their minimal water usage makes them well-suited for arid environments, while their simpler maintenance and reliability are critical for off-grid or remote applications. As developing economies and grid-constrained areas prioritize fast, adaptable power solutions, Open Cycle gas turbines remain the preferred choice.

The >200 MW Segment Dominated The Market In 2025 And Is Predicted To Grow At The Highest CAGR Over The Forecast Period

The global gas turbine market is segmented by capacity into ≤200 MW and >200 MW, with the >200 MW segment leading in 2024 and expected to grow at the highest CAGR during the forecast period. This dominance is driven by rising demand for high-efficiency, large-scale power generation in industrialized and urbanized regions, where utility-scale plants require stable, high-output electricity supply. The >200 MW turbines excel in combined cycle applications, delivering superior thermal efficiency and lower emissions—key factors supporting global decarbonization efforts.

The Power & Utility Segment Is Predicted To Grow At The Highest CAGR Over The Forecast Period

The global gas turbine market is segmented by end-use into Power & Utility and Industrial sectors, with the Power & Utility segment expected to register the highest CAGR during the forecast period. This growth is fueled by surging global electricity demand, especially in fast-urbanizing regions, where reliable and scalable power generation is critical. Gas turbines are gaining prominence in utility-scale power plants as they offer high energy output with lower carbon emissions compared to conventional coal-based systems. Their operational flexibility—enabling quick ramp-up to meet peak demand—and compatibility with renewable integration further solidify their role in the energy transition.

The following segments are part of an in-depth analysis of the global gas turbine market:

Gas Turbine Market Share Analysis By Region

Asia Pacific Is Projected To Hold The Largest Share Of The Global Gas Turbine Market Over The Forecast Period.

In 2025, Asia Pacific accounted for the largest share of the world gas turbine market with around 38.2% of the total market. Its dominance is fueled by the region’s robust energy demand, industrialization, and investments in large power and infrastructure projects. China, India, Japan, and South Korea are increasingly adopting gas turbines in place of coal-based power to reduce carbon emissions and improve efficiency. The region is also witnessing investments in new gas-fired power plants encouraged by incentives and policies at the governmental level. The increasing demand to have reliable and flexible power supply to fuel urbanization and electrification, notably in emerging economies, also contributes to the segment growth. Improved grid network and integration of renewable energy systems have further injected demand in the market for gas turbines that can offer quick-start and back-up power to provide stability to the energy supply.

In contrast, North America will see the highest CAGR over the forecasted period. This is due to the region’s transition away from coal towards natural gas, the availability of shale gas reserves, and a surge in combined cycle gas turbine system adoption to promote energy efficiency and cut emissions.

Gas Turbine Market Competition Landscape Analysis

The global gas turbine market is poised for significant growth, with key players investing heavily in technology and infrastructure. These companies are actively engaged in research and development, strategic partnerships, and large-scale project implementations to enhance their market positions. ​

Global Gas Turbine Market Recent Developments News:

In February 2023, Mitsubishi Power, a subsidiary of Mitsubishi Heavy Industries (MHI), has secured an order to supply two M701F gas turbines, two steam turbines, and auxiliary equipment for the expansion of Uzbekistan’s Talimarjan Thermal Power Plant (TPP). The project, contracted by Spanish engineering firm Intecsa Ingenieria Industrial S.A., is set to commence operations in 2025. This marks Mitsubishi Power’s second major order for the Talimarjan TPP, following its 2013 delivery of two M701F gas turbines and generators for Unit 1. The expansion reinforces Mitsubishi Power’s role in enhancing Uzbekistan’s energy infrastructure with high-efficiency power generation technology.

In March 2021, General Electric (GE) has announced the delivery of its first two HA-class gas turbines to the UAE, set to power what is expected to become the most efficient utility plant in the Middle East. The project will feature a total of three 9HA.01 gas turbines, renowned for their high efficiency and flexibility in power generation. This deployment reinforces GE's leadership in advanced energy solutions and supports the region's push for cleaner, more reliable electricity production. The initiative marks a significant milestone in modernizing the UAE's power infrastructure with cutting-edge technology.

The Global Gas Turbine Market is dominated by a few large companies, such as

·         GE 

·         Siemens 

·         Mitsubishi Power 

·         Ansaldo Energia 

·         Solar Turbines 

·         Kawasaki Heavy Industries, Ltd. 

·         Doosan Heavy Industries & Construction 

·         Bharat Heavy Electrical Limited 

·         OPRA Turbines 

·         Rolls Royce 

·         Vericor Power Systems LLC 

·         Others

·         Others