Global Industrial Gas Turbines Market Growth 2025-2031

Global Industrial Gas Turbines Market Growth 2025-2031

The global Industrial Gas Turbines market size is predicted to grow from US$ 13320 million in 2025 to US$ 15440 million in 2031; it is expected to grow at a CAGR of 2.5% from 2025 to 2031.

A Industrial Gas Turbine engine 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.

Global Industrial Gas Turbines key players include Siemens, Kawasaki, Solar Turbines, etc. Global top three manufacturers hold a share over 70%.

Europe is the largest market, with a share over 35%, followed by Asia-Pacific, and North America, both have a share over 55 percent.

In terms of product, Less Than 20MW is the largest segment, with a share about 70%. And in terms of application, the largest application is Power Generation, followed by Oil and Gas, etc.

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

This Insight Report provides a comprehensive analysis of the global Industrial Gas Turbines 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 Industrial Gas Turbines portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Industrial Gas Turbines market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Industrial Gas Turbines 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 Industrial Gas Turbines.

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

Segmentation by Type:
Less Than 20MW
More Than 20MW

Segmentation by Application:
Power Generation
Oil and 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.
GE
Siemens
MHPS
Ansaldo
Kawasaki
Solar Turbines
MAN Energy
BHEL

Key Questions Addressed in this Report

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

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

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

How do Industrial Gas Turbines market opportunities vary by end market size?

How does Industrial Gas Turbines break out by Type, by Application?

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