Gas Turbine Market to Reach USD 88.06 Billion by 2030, Led by Strong Growth in Asia-Pacific Ask ChatGPT

The latest research by Mordor Intelligence covers the "gas turbine market," delivering insights into market dynamics, drivers of growth, and long-term forecasts.

The global gas turbine market is projected to reach USD 62.54 billion in 2025 and is expected to grow to USD 88.06 billion by 2030, reflecting steady demand for efficient power generation technologies. This growth is largely supported by the increasing need for flexible, cleaner energy sources and the transition away from coal-based systems. Gas turbines continue to be a preferred choice for power producers due to their operational efficiency, scalability, and compatibility with combined-cycle configurations.

Among the regions, Asia-Pacific stands out as both the largest and fastest-growing market, driven by rapid industrial expansion, rising electricity consumption, and supportive energy policies. The market remains moderately concentrated, with several key players operating across manufacturing, services, and technology upgrades. As nations aim to balance reliability with lower emissions, the adoption of gas turbine systems is expected to maintain an upward trajectory over the forecast period.

Explore the full report for in-depth insights and market forecasts: https://www.mordorintelligence.com/industry-reports/global-gas-turbine-market?utm_source=openpr

Key Trends:

Higher Efficiency through Combined-Cycle Deployment

A major trend is the widespread deployment of combined-cycle gas turbines (CCGT). By capturing exhaust heat and converting it to steam power, CCGT systems achieve efficiencies of 50-60%, a notable improvement over the 33-40% typical of open-cycle configurations . Power producers are gravitating toward these systems as a way to optimize fuel usage, cut emissions, and stay competitive during periods of fluctuating fuel prices.

Cleaner Energy Pressures

Stringent climate targets and carbon emission regulations are pushing utilities toward gas turbines as a cleaner alternative to coal and often nuclear. Gas turbines produce fewer CO2 emissions and are seen as "bridge technology" while renewables mature. Continued investment in these systems reflects this shift, particularly in countries where emission penalties and carbon taxes are pushing fossil-fuel power generation to evolve.

Asia-Pacific Leads Market Growth

Asia-Pacific remains the fastest-growing and highest-volume region for gas turbines. The momentum in China, India, Japan, and Southeast Asia is shaped by rapid industrialization, urban expansion, and emerging environmental norms . Notably, North America holds a dominant position in industrial turbine sales, underpinned by older fleets and stronger energy consumption growth

MRO Demand: Aging Fleet & Digital Solutions

In the maintenance, repair, and overhaul (MRO) segment, aging gas turbine fleets globally-some over 50 years old-are prompting utilities to upscale services. This has given rise to predictive maintenance, digital monitoring, and third-party service providers challenging traditional OEMs . The global MRO market for gas turbines in power is expected to grow from USD 15.7 Bn in 2025 to USD 18.4 Bn by 2030, at a CAGR of 3.3%

Delivery Bottlenecks & Supply Chain Challenges

A Wood Mackenzie report warns of supply constraints undermining market growth, projecting shortages in gas turbine delivery up to at least 2030. Adding complexity, developers are evaluating carbon capture, hydrogen co-firing, and supply chain upgrades to align with net-zero goals, putting further pressure on lead times.

Check out more details and stay updated with the latest industry trends, including the Japanese version for localized insights: https://www.mordorintelligence.com/ja/industry-reports/global-gas-turbine-market?utm_source=openpr

Market Segmentation

The report highlights key segmentation categories that shape regional and functional dynamics:

Capacity:

Small-scale (120 MW): mainstay of combined-cycle and utility-scale facilities

By Configuration:

Combined-cycle: dominates due to superior efficiency (50-60%)

Open-cycle: remains essential for peak-demand and rapid-start applications

End-user Industry:

Primary demand comes from power generation.

Oil & gas, and industrial sectors also utilize turbines, but usually to a lesser degree

Geography:

Asia-Pacific: fastest growing both in capacity and number of installations.

North America: largest market share in industrial turbines.

Europe: steady growth, supported by coal-to-gas transitions and retrofit activity

Market Segmentation Highlights

< 30 MW - Focused on microgrid and commercial installations

31-120 MW - Serving mid-tier utilities and industrials

> 120 MW - Backbone of combined-cycle, utility-scale generating stations

Combined-cycle vs Open-cycle - Efficiency vs flexibility

Industry Use:

Power generation (primary market

Oil & gas infrastructure

Industrial other applications

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Key Players:

The gas turbine market is moderately fragmented, with major OEMs and independent service providers actively involved:

Siemens AG, General Electric, Mitsubishi Heavy Industries, Kawasaki Heavy Industries, Harbin Electric lead manufacturing

In power-focused MRO, companies like Siemens Energy, General Electric, Mitsubishi, Solar Turbines, Sulzer Ltd dominate

Independent providers are winning market share by offering cross-brand maintenance services and tapping into digital diagnostic solutions

OEMs continue to hold sway, thanks to design ownership and proprietary supply chains, but are increasingly facing competitive pressure from ISPs and in-house teams.

Explore the full report for in-depth insights and market forecasts: https://www.mordorintelligence.com/industry-reports/global-gas-turbine-market?utm_source=openpr

Conclusion

The global gas turbine market has firmly re-established itself post-pandemic, attaining approximately USD XX Bn in 2024 and expected to maintain a 4% CAGR through 2029. Drivers include combined-cycle adoption for efficiency, newfound environmental mandates, and escalating demand in emerging economies. At the same time, supply chain challenges are evident, with delivery bottlenecks expected to persist into 2030

For complete market analysis, visit the Mordor Intelligence page: https://www.mordorintelligence.com/industry-reports/global-gas-turbine-market?utm_source=openpr

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About Mordor Intelligence:

Mordor Intelligence is a trusted partner for businesses seeking comprehensive and actionable market intelligence. Our global reach, expert team, and tailored solutions empower organizations and individuals to make informed decisions, navigate complex markets, and achieve their strategic goals.

With a team of over 550 domain experts and on-ground specialists spanning 150+ countries, Mordor Intelligence possesses a unique understanding of the global business landscape. This expertise translates into comprehensive syndicated and custom research reports covering a wide spectrum of industries, including aerospace & defense, agriculture, animal nutrition and wellness, automation, automotive, chemicals & materials, consumer goods & services, electronics, energy & power, financial services, food & beverages, healthcare, hospitality & tourism, information & communications technology, investment opportunities, and logistics.

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Mordor Intelligence is a trusted partner for businesses seeking comprehensive and actionable market intelligence. Our global reach, expert team, and tailored solutions empower organizations and individuals to make informed decisions, navigate complex markets, and achieve their strategic goals.

With a team of over 550 domain experts and on-ground specialists spanning 150+ countries, Mordor Intelligence possesses a unique understanding of the global business landscape. This expertise translates into comprehensive syndicated and custom research reports covering a wide spectrum of industries, including aerospace & defense, agriculture, animal nutrition and wellness, automation, automotive, chemicals & materials, consumer goods & services, electronics, energy & power, financial services, food & beverages, healthcare, hospitality & tourism, information & communications technology, investment opportunities, and logistics.

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