Global Gas Turbine Market Size & Outlook, 2025-2033
Global gas turbine market, 2021-2033 (US$M)
Related Markets
Global gas turbine market highlights
- The global gas turbine market generated a revenue of USD 11,017.2 million in 2024 and is expected to reach USD 14,186.5 million by 2033.
- The market is expected to grow at a CAGR (2025 - 2033) of 2.7% by 2033.
- In terms of segment, combined cycle accounted for a revenue of USD 10,054.3 million in 2024.
- Open Cycle is the most lucrative technology segment registering the fastest growth during the forecast period.
- In terms of region, Asia Pacific was the largest revenue generating market in 2024.
- Country-wise, India is expected to register the highest CAGR from 2025 to 2033.
Global data book summary
| Market revenue in 2024 | USD 11,017.2 million |
| Market revenue in 2033 | USD 14,186.5 million |
| Growth rate | 2.7% (CAGR from 2025 to 2033) |
| Largest segment | Combined cycle |
| Fastest growing segment | Open Cycle |
| Historical data covered | 2021 - 2023 |
| Base year for estimation | 2024 |
| Forecast period covered | 2025 - 2033 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Open Cycle, Combined Cycle |
Other key industry trends
- In terms of revenue, the North America accounted for 28.1% of the global gas turbine market in 2024.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2033.
- By country, India is the fastest growing regional market and is projected to reach USD 236.0 million by 2033.
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Gas Turbine Market Scope
Gas Turbine Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| ManpowerGroup Inc | View profile | 27900 | 100 Manpower Place, Milwaukee, WI, United States, 53212 | https://www.manpowergroup.com |
| Opera Ltd ADR | View profile | 657 | Vitaminveien 4, Oslo, Norway, 0485 | https://www.opera.com |
| Ansaldo Energia | View profile | 1001-5000 | Podere Liguria, Emilia-Romagna, Italy, Europe | https://www.ansaldoenergia.com/ |
| Kawasaki Heavy Industries Ltd | View profile | 38254 | Kobe Crystal Tower, 1-3, Higashikawasaki-cho 1-chome, Chuo-ku, Kobe, Japan, 650-8680 | http://www.khi.co.jp |
| Mitsubishi Corp | View profile | 105267 | Mitsubishi Shoji Building 3-1, Marunouchi 2-chome, Chiyoda-ku, Tokyo, Japan, 100-8086 | https://www.mitsubishicorp.com |
| GE Aerospace | View profile | 125000 | One Financial Center, Suite 3700, Boston, MA, United States, 02111 | https://www.geaerospace.com |
| Siemens AG | View profile | 321000 | Werner-von-Siemens-Strabe 1, Munich, BY, Germany, 80333 | https://www.siemens.com |
| Caterpillar Inc | View profile | 121173 | 5205 N. O'Connor Boulevard, Suite 100, Irving, TX, United States, 75039 | https://www.caterpillar.com |
Global gas turbine market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to gas turbine market will help companies and investors design strategic landscapes.
Combined cycle was the largest segment with a revenue share of 91.26% in 2024. Horizon Databook has segmented the Global gas turbine market based on open cycle, combined cycle covering the revenue growth of each sub-segment from 2021 to 2033.
- Global Gas Turbine Technology Outlook (Revenue, USD Million, 2021-2033)
- Combined Cycle
- Open Cycle
- Global Gas Turbine Capacity Outlook (Revenue, USD Million, 2021-2033)
- >200 MW
- less than or equal to 200
- Global Gas Turbine End-Use Outlook (Revenue, USD Million, 2021-2033)
- Power & Utility
- Industrial
- Global Gas Turbine Application Outlook (Revenue, USD Million, 2021-2033)
- Process Plants
- Oil & Gas
- Aerospace
- Power Generation
- Marine
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Our clientele includes a mix of gas turbine market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of global-level data and insights on the Global gas turbine market , including forecasts for subscribers. This global databook contains high-level insights into Global gas turbine market from 2021 to 2033, including revenue numbers, major trends, and company profiles.
Partial client list
Global gas turbine market size, by regions, 2021-2033 (US$M)
Top 10 countries: Gas turbine market size, 2024 (US$M)
Global gas turbine market share, by technology, 2024 & 2033 (%, US$M)
Gas turbine market: Opportunity assessment by country
Global gas turbine market, by region, 2024 (US$M)
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