Canada Gas Turbine Market Size & Outlook, 2025-2033
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Canada gas turbine market highlights
- The Canada gas turbine market generated a revenue of USD 439.5 million in 2024 and is expected to reach USD 752.7 million by 2033.
- The Canada market is expected to grow at a CAGR of 6.2% from 2025 to 2033.
- In terms of segment, combined cycle was the largest revenue generating technology in 2024.
- Combined Cycle is the most lucrative technology segment registering the fastest growth during the forecast period.
Gas turbine market data book summary
| Market revenue in 2024 | USD 439.5 million |
| Market revenue in 2033 | USD 752.7 million |
| Growth rate | 6.2% (CAGR from 2025 to 2033) |
| Largest segment | Combined cycle |
| Fastest growing segment | Combined Cycle |
| Historical data | 2021 - 2023 |
| Base year | 2024 |
| Forecast period | 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, Canada accounted for 4.0% of the global gas turbine market in 2024.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2033.
- In North America, U.S. gas turbine market is projected to lead the regional market in terms of revenue in 2033.
- Canada is the fastest growing regional market in North America and is projected to reach USD 752.7 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 |
Canada 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 94.93% in 2024. Horizon Databook has segmented the Canada gas turbine market based on open cycle, combined cycle covering the revenue growth of each sub-segment from 2021 to 2033.
The gas turbine market in Canada is expected to grow due to several factors, including the country's abundant natural gas reserves and the growing demand for distributed power generation. Canada's push toward reducing greenhouse gas emissions is driving the demand for cleaner energy sources, such as natural gas-fired combined cycle power plants that incorporate gas turbines.
Many companies in the country are looking to develop gas turbines that work with other forms of technology such as hydrogen, biofuels, or geothermal to supplement natural gas, reduce carbon emissions, and increase the efficiency of the plant.
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Our clientele includes a mix of gas turbine market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada gas turbine market , including forecasts for subscribers. This country databook contains high-level insights into Canada gas turbine market from 2021 to 2033, including revenue numbers, major trends, and company profiles.
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Canada gas turbine market size, by technology, 2021-2033 (US$M)
Canada Gas Turbine Market Outlook Share, 2024 & 2033 (US$M)
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