Asia Pacific Gas Turbine Market Size & Outlook, 2025-2033
Related Markets
Asia Pacific gas turbine market highlights
- The Asia Pacific gas turbine market generated a revenue of USD 4,093.2 million in 2024.
- The market is expected to grow at a CAGR of 3.5% from 2025 to 2033.
- In terms of segment, combined cycle was the largest revenue generating technology in 2024.
- Open Cycle is the most lucrative technology segment registering the fastest growth during the forecast period.
- Country-wise, India is expected to register the highest CAGR from 2025 to 2033.
Asia Pacific data book summary
| Market revenue in 2024 | USD 4,093.2 million |
| Market revenue in 2033 | USD 5,621.2 million |
| Growth rate | 3.5% (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 |
| Key market players worldwide | Ansaldo Energia, GE Aerospace, Kawasaki Heavy Industries Ltd, ManpowerGroup Inc, Mitsubishi Corp, Opera Ltd ADR, Siemens AG, Caterpillar Inc |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 37.2% of the global gas turbine market in 2024.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2033.
- North America is the fastest growing regional market and is projected to reach USD 4,350.5 million by 2033.
No credit card required*
Horizon in a snapshot
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
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 |
Asia Pacific 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 89.65% in 2024. Horizon Databook has segmented the Asia Pacific gas turbine market based on open cycle, combined cycle covering the revenue growth of each sub-segment from 2021 to 2033.
Asia Pacific’s gas turbine market is projected to grow at a CAGR of 2.7% over the forecast period. The market is driven by the need for efficient power generation systems. East Asia has witnessed a rise in sales of gas turbines with improved efficiency.
The industrial gas turbine market in Asia Pacific is anticipated to progress at a significant growth rate over the forecast period owing to the growth of chemicals, food, and paper & pulp industries along with the adoption of combined heat & power systems in APAC countries.
These factors are expected to boost the market for gas turbines over the forecast period. In addition, some of the major players in the Asia Pacific gas turbine market include General Electric, Siemens AG, Mitsubishi Hitachi Power Systems Ltd., and Bharat Heavy Electricals Limited.
Reasons to subscribe to Asia Pacific gas turbine market databook:
-
Access to comprehensive data: Horizon Databook provides over 1 million market statistics and 20,000+ reports, offering extensive coverage across various industries and regions.
-
Informed decision making: Subscribers gain insights into market trends, customer preferences, and competitor strategies, empowering informed business decisions.
-
Cost-Effective solution: It's recognized as the world's most cost-effective market research database, offering high ROI through its vast repository of data and reports.
-
Customizable reports: Tailored reports and analytics allow companies to drill down into specific markets, demographics, or product segments, adapting to unique business needs.
-
Strategic advantage: By staying updated with the latest market intelligence, companies can stay ahead of competitors, anticipate industry shifts, and capitalize on emerging opportunities.
Target buyers of Asia Pacific gas turbine market databook
-
Our clientele includes a mix of gas turbine market companies, investment firms, advisory firms & academic institutions.
-
30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
-
Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
-
The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific gas turbine market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific gas turbine market from 2021 to 2033, including revenue numbers, major trends, and company profiles.
Partial client list
Asia Pacific gas turbine market size, by country, 2021-2033 (US$M)
Asia Pacific Gas Turbine Market Outlook Share, 2024 & 2033 (US$M)
Related statistics
Sign up - it's easy, and free!
Sign up and get instant basic access to databook, upgrade
when ready, or enjoy our
free plan indefinitely.
Included in Horizon account
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
