Global Gas Turbine Market 2025-2029

Gas Turbine Market 2025-2029

The gas turbine market is forecasted to grow by USD 3335.7 million during 2024-2029, accelerating at a CAGR of 2.2% during the forecast period. The report on the gas turbine market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by enhanced efficiency and robustness of gas turbines, growth of distributed power generation base, and expanding natural gas pipeline networks.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market size data, segment with regional analysis and vendor landscape in addition to an analysis of the key companies. Reports have historic and forecast data.

Technavio's gas turbine market is segmented as below:

By Product

• Heavy-duty gas turbine
• Aeroderivative gas turbine

By Technology

• CCGT
• OCGT

By End-user

• Energy and utilities
• Oil and gas
• Aerospace and defense
• Manufacturing
• Marine

By Capacity

• Above 300 MW
• 40-120 MW
• 120-300 MW
• 1-40 MW

By Geographical Landscape

• APAC
• North America
• Europe
• Middle East and Africa
• South America

This study identifies the growing use of alternative types of fuel in aeroderivative gas turbines as one of the prime reasons driving the gas turbine market growth during the next few years. Also, rapid decline in demand for f-class gas turbines and development of GTCC and IGCC technologies will lead to sizable demand in the market.

The report on the gas turbine market covers the following areas:

• Gas Turbine Market sizing
• Gas Turbine Market forecast
• Gas Turbine Market industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading gas turbine market vendors that include Ansaldo Energia Spa, Bharat Heavy Electricals Ltd., Capstone Green Energy Corp., Caterpillar Inc., Destinus Energy, Doosan Heavy Industries and Construction Co. Ltd., GE Vernova Inc., Harbin Turbine Co. Ltd., IHI Corp., Kawasaki Heavy Industries Ltd., MAN Energy Solutions SE, MAPNA Group Co., Mitsubishi Power Ltd., Motor Sich JSC, MTU Aero Engines AG, Rolls Royce Holdings PLC, Shanghai Electric Group Co., Siemens Energy AG, Solar Turbines Inc., and Wartsila Corp.. Also, the gas turbine market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive primary and secondary research. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.