Global Gas Turbine Market Growth 2025-2031

Global Gas Turbine Market Growth 2025-2031

The global Gas Turbine market size is predicted to grow from US$ 23740 million in 2025 to US$ 42680 million in 2031; it is expected to grow at a CAGR of 10.3% from 2025 to 2031.

A gas turbine, also called a combustion turbine, is a type of internal combustion engine. It has an upstream rotating compressor coupled to a downstream turbine, and a combustion chamber or area, called a combustor, in between.

Global Gas Turbine key players include GE, Siemens, Mitsubishi-Hitachi, Alstom, Solar Turbines, etc. Global top five players hold a share about 80%.

Europe is the largest market, with a share about 40%, followed by North America and China, having a total share about 40 percent.

In terms of product, Heavy Duty Gas Turbine is the largest segment, with a share about 63%. And in terms of application, the largest application is Power Generation, followed by Oil & Gas, etc.

LP Information, Inc. (LPI) ' newest research report, the “Gas Turbine Industry Forecast” looks at past sales and reviews total world Gas Turbine sales in 2024, providing a comprehensive analysis by region and market sector of projected Gas Turbine sales for 2025 through 2031. With Gas Turbine sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Gas Turbine industry.

This Insight Report provides a comprehensive analysis of the global Gas Turbine landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Gas Turbine portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Gas Turbine market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Gas Turbine and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Gas Turbine.

This report presents a comprehensive overview, market shares, and growth opportunities of Gas Turbine market by product type, application, key manufacturers and key regions and countries.

Segmentation by Type:
Heavy Duty Gas Turbine
Aeroderivative Gas Turbine
Light Duty Gas Turbine

Segmentation by Application:
Power Generation
Oil & Gas
Other

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
General Electric
Siemens
Mitsubishi Hitachi Power Systems
Wood Group
Kawasaki Heavy Industries
Solar Turbines
Ansaldo Energia
MTU Aero Engines
Sulzer
MAN Diesel and Turbo
MJB International
Proenergy Services
MAN Energy
BHEL

Key Questions Addressed in this Report

What is the 10-year outlook for the global Gas Turbine market?

What factors are driving Gas Turbine market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Gas Turbine market opportunities vary by end market size?

How does Gas Turbine break out by Type, by Application?

Please note: The report will take approximately 2 business days to prepare and deliver.