Global Gas Turbine Supply, Demand and Key Producers, 2026-2032
Description
The global Gas Turbine market size is expected to reach $ 32910 million by 2032, rising at a market growth of 7.8% CAGR during the forecast period (2026-2032).
A gas turbine is a type of internal combustion engine. Essentially, the engine can be viewed as an energy conversion device that converts energy stored in the fuel to useful mechanical energy in the form of rotational power. The term “gas” refers to the ambient air that is taken into the engine and used as the working medium in the energy conversion process.
This air is first drawn into the engine where it is compressed, mixed with fuel and ignited. The resulting hot gas expands at a high velocity through a series of airfoil-shaped blades transferring energy created from combustion to turn an output shaft. The residual thermal energy in the hot exhaust gas can be harnessed for a variety of industrial processes.
The global gas turbine market is experiencing steady growth, this upward trend is driven by the global transition toward cleaner natural gas power generation, the rising need for flexible energy sources, and sustained investment from the oil & gas industry in efficient mechanical drive technologies.Gas turbines are critical thermal power machinery used in electricity generation, aviation propulsion, marine drives, and oil & gas industries. Known for their high power density, rapid start-up capability, and fuel flexibility, gas turbines are regaining strategic importance in the global energy transition, acting as a flexible bridge between fossil fuels and renewables.
By product type, Heavy Duty Gas Turbines continue to dominate, primarily used in large-scale power plants. Aeroderivative Gas Turbines with strong growth due to their flexibility and suitability for distributed generation and oil & gas operations.
In terms of application, power generation remains the largest segment. Gas turbines are widely used in both base-load and peak-load power plants due to their high efficiency, fast start-up capabilities, and lower emissions compared to coal-fired units. In many regions, especially in Asia-Pacific, the Middle East, and the U.S., governments and utilities are investing in combined cycle gas turbine (CCGT) plants to replace aging coal infrastructure and meet cleaner energy targets. Additionally, the increasing integration of renewable energy sources is driving demand for gas turbines as flexible backup solutions to ensure grid stability.
Regionally, North America and Europe remain mature markets, while Asia-Pacific—especially China and India—is the fastest-growing region due to rapid industrialization, coal-to-gas policies, and decarbonization goals. China, in particular, is investing in indigenous heavy-duty gas turbine development, aiming for greater energy self-sufficiency.
Major manufacturers including GE Vernova, Siemens Energy, and MHPS lead the global market, with strong competition from Dongfang Electric, Solar Turbines, Baker Hughes, and others. In 2024, the global three largest players hold a share approximately 71.60% in terms of revenue. These companies are increasingly investing in aeroderivative designs and low-carbon technologies to meet global emissions and efficiency targets.
Technological development is focused on high-temperature materials, turbine blade cooling, digital diagnostics, and hydrogen co-firing capability. Hydrogen-ready gas turbines, capable of 30–100% hydrogen combustion, are emerging as zero-carbon solutions for future peaking power and industrial heating demands.
This report studies the global Gas Turbine production, demand, key manufacturers, and key regions.
This report is a detailed and comprehensive analysis of the world market for Gas Turbine and provides market size (US$ million) and Year-over-Year (YoY) Growth, considering 2025 as the base year. This report explores demand trends and competition, as well as details the characteristics of Gas Turbine that contribute to its increasing demand across many markets.
Highlights and key features of the study
Global Gas Turbine total production and demand, 2021-2032, (MW)
Global Gas Turbine total production value, 2021-2032, (USD Million)
Global Gas Turbine production by region & country, production, value, CAGR, 2021-2032, (USD Million) & (MW), (based on production site)
Global Gas Turbine consumption by region & country, CAGR, 2021-2032 & (MW)
U.S. VS China: Gas Turbine domestic production, consumption, key domestic manufacturers and share
Global Gas Turbine production by manufacturer, production, price, value and market share 2021-2026, (USD Million) & (MW)
Global Gas Turbine production by Type, production, value, CAGR, 2021-2032, (USD Million) & (MW)
Global Gas Turbine production by Application, production, value, CAGR, 2021-2032, (USD Million) & (MW)
This report profiles key players in the global Gas Turbine market based on the following parameters - company overview, production, value, price, gross margin, product portfolio, geographical presence, and key developments. Key companies covered as a part of this study include GE Vernova, Siemens Energy, MHPS, Dongfang Electric Corporation, Solar Turbines, Baker Hughes, Ansaldo, Kawasaki, BHEL, etc.
This report also provides key insights about market drivers, restraints, opportunities, new product launches or approvals.
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the World Gas Turbine market
Detailed Segmentation:
Each section contains quantitative market data including market by value (US$ Millions), volume (production, consumption) & (MW) and average price (US$/KW) by manufacturer, by Type, and by Application. Data is given for the years 2021-2032 by year with 2025 as the base year, 2026 as the estimate year, and 2027-2032 as the forecast year.
Global Gas Turbine Market, By Region:
United States
China
Europe
Japan
South Korea
ASEAN
India
Rest of World
Global Gas Turbine Market, Segmentation by Type:
Heavy Duty Gas Turbine
Aeroderivative Gas Turbine
Light Duty Gas Turbine
Global Gas Turbine Market, Segmentation by Application:
Power Generation
Oil & Gas
Other
Companies Profiled:
GE Vernova
Siemens Energy
MHPS
Dongfang Electric Corporation
Solar Turbines
Baker Hughes
Ansaldo
Kawasaki
BHEL
Key Questions Answered:
1. How big is the global Gas Turbine market?
2. What is the demand of the global Gas Turbine market?
3. What is the year over year growth of the global Gas Turbine market?
4. What is the production and production value of the global Gas Turbine market?
5. Who are the key producers in the global Gas Turbine market?
6. What are the growth factors driving the market demand?
A gas turbine is a type of internal combustion engine. Essentially, the engine can be viewed as an energy conversion device that converts energy stored in the fuel to useful mechanical energy in the form of rotational power. The term “gas” refers to the ambient air that is taken into the engine and used as the working medium in the energy conversion process.
This air is first drawn into the engine where it is compressed, mixed with fuel and ignited. The resulting hot gas expands at a high velocity through a series of airfoil-shaped blades transferring energy created from combustion to turn an output shaft. The residual thermal energy in the hot exhaust gas can be harnessed for a variety of industrial processes.
The global gas turbine market is experiencing steady growth, this upward trend is driven by the global transition toward cleaner natural gas power generation, the rising need for flexible energy sources, and sustained investment from the oil & gas industry in efficient mechanical drive technologies.Gas turbines are critical thermal power machinery used in electricity generation, aviation propulsion, marine drives, and oil & gas industries. Known for their high power density, rapid start-up capability, and fuel flexibility, gas turbines are regaining strategic importance in the global energy transition, acting as a flexible bridge between fossil fuels and renewables.
By product type, Heavy Duty Gas Turbines continue to dominate, primarily used in large-scale power plants. Aeroderivative Gas Turbines with strong growth due to their flexibility and suitability for distributed generation and oil & gas operations.
In terms of application, power generation remains the largest segment. Gas turbines are widely used in both base-load and peak-load power plants due to their high efficiency, fast start-up capabilities, and lower emissions compared to coal-fired units. In many regions, especially in Asia-Pacific, the Middle East, and the U.S., governments and utilities are investing in combined cycle gas turbine (CCGT) plants to replace aging coal infrastructure and meet cleaner energy targets. Additionally, the increasing integration of renewable energy sources is driving demand for gas turbines as flexible backup solutions to ensure grid stability.
Regionally, North America and Europe remain mature markets, while Asia-Pacific—especially China and India—is the fastest-growing region due to rapid industrialization, coal-to-gas policies, and decarbonization goals. China, in particular, is investing in indigenous heavy-duty gas turbine development, aiming for greater energy self-sufficiency.
Major manufacturers including GE Vernova, Siemens Energy, and MHPS lead the global market, with strong competition from Dongfang Electric, Solar Turbines, Baker Hughes, and others. In 2024, the global three largest players hold a share approximately 71.60% in terms of revenue. These companies are increasingly investing in aeroderivative designs and low-carbon technologies to meet global emissions and efficiency targets.
Technological development is focused on high-temperature materials, turbine blade cooling, digital diagnostics, and hydrogen co-firing capability. Hydrogen-ready gas turbines, capable of 30–100% hydrogen combustion, are emerging as zero-carbon solutions for future peaking power and industrial heating demands.
This report studies the global Gas Turbine production, demand, key manufacturers, and key regions.
This report is a detailed and comprehensive analysis of the world market for Gas Turbine and provides market size (US$ million) and Year-over-Year (YoY) Growth, considering 2025 as the base year. This report explores demand trends and competition, as well as details the characteristics of Gas Turbine that contribute to its increasing demand across many markets.
Highlights and key features of the study
Global Gas Turbine total production and demand, 2021-2032, (MW)
Global Gas Turbine total production value, 2021-2032, (USD Million)
Global Gas Turbine production by region & country, production, value, CAGR, 2021-2032, (USD Million) & (MW), (based on production site)
Global Gas Turbine consumption by region & country, CAGR, 2021-2032 & (MW)
U.S. VS China: Gas Turbine domestic production, consumption, key domestic manufacturers and share
Global Gas Turbine production by manufacturer, production, price, value and market share 2021-2026, (USD Million) & (MW)
Global Gas Turbine production by Type, production, value, CAGR, 2021-2032, (USD Million) & (MW)
Global Gas Turbine production by Application, production, value, CAGR, 2021-2032, (USD Million) & (MW)
This report profiles key players in the global Gas Turbine market based on the following parameters - company overview, production, value, price, gross margin, product portfolio, geographical presence, and key developments. Key companies covered as a part of this study include GE Vernova, Siemens Energy, MHPS, Dongfang Electric Corporation, Solar Turbines, Baker Hughes, Ansaldo, Kawasaki, BHEL, etc.
This report also provides key insights about market drivers, restraints, opportunities, new product launches or approvals.
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the World Gas Turbine market
Detailed Segmentation:
Each section contains quantitative market data including market by value (US$ Millions), volume (production, consumption) & (MW) and average price (US$/KW) by manufacturer, by Type, and by Application. Data is given for the years 2021-2032 by year with 2025 as the base year, 2026 as the estimate year, and 2027-2032 as the forecast year.
Global Gas Turbine Market, By Region:
United States
China
Europe
Japan
South Korea
ASEAN
India
Rest of World
Global Gas Turbine Market, Segmentation by Type:
Heavy Duty Gas Turbine
Aeroderivative Gas Turbine
Light Duty Gas Turbine
Global Gas Turbine Market, Segmentation by Application:
Power Generation
Oil & Gas
Other
Companies Profiled:
GE Vernova
Siemens Energy
MHPS
Dongfang Electric Corporation
Solar Turbines
Baker Hughes
Ansaldo
Kawasaki
BHEL
Key Questions Answered:
1. How big is the global Gas Turbine market?
2. What is the demand of the global Gas Turbine market?
3. What is the year over year growth of the global Gas Turbine market?
4. What is the production and production value of the global Gas Turbine market?
5. Who are the key producers in the global Gas Turbine market?
6. What are the growth factors driving the market demand?
Table of Contents
97 Pages
- 1 Supply Summary
- 2 Demand Summary
- 3 World Manufacturers Competitive Analysis
- 4 United States VS China VS Rest of the World
- 5 Market Analysis by Type
- 6 Market Analysis by Application
- 7 Company Profiles
- 8 Industry Chain Analysis
- 9 Research Findings and Conclusion
- 10 Appendix
Pricing
Currency Rates
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