United States Gas Turbine Market | CAGR 4.7% | North America Leads with 35% Share | Key Players: GE, Siemens, Mitsubishi, Kawasaki, Ansaldo Energia

Gas Turbine Market

The global gas turbine market is projected to grow at a robust CAGR of 4.7% during the forecast period 2024-2031, driven by increasing demand across multiple industries, including power generation, oil & gas, aerospace, and marine. Gas turbines, which operate as internal combustion engines where expanding gases from the combustion chamber drive turbine blades, offer high efficiency, operational flexibility, and lower capital costs, making them an attractive choice for modern energy and industrial applications. The market is highly competitive, with key players such as Bechtel Corporation, Siemens AG, General Electric Co., and others actively investing in innovation, capacity expansion, and global infrastructure projects to strengthen their presence. Rising industrialization, expansion of power generation infrastructure, and the need for reliable, high-performance energy solutions are expected to fuel market growth over the coming years.

Get a Free Sample PDF Of This Report (Get Higher Priority for Corporate Email ID):-https://www.datamintelligence.com/download-sample/gas-turbine-market?Juli

Recent Developments:

✅ January 2026 - United States: General Electric expanded its gas turbine portfolio by launching advanced high-efficiency turbines for combined-cycle power plants, enhancing performance and reducing emissions.

✅ December 2025 - Europe: Siemens AG secured a contract to supply 10 H-class gas turbines for a 4 GW power generation project in Germany, aimed at modernizing the energy infrastructure with lower carbon emissions.

✅ November 2025 - Asia-Pacific: Mitsubishi Power commissioned a new gas turbine facility in Japan featuring next-generation airfoil designs to improve fuel efficiency and operational reliability for industrial and utility applications.

✅ October 2025 - Middle East: Bechtel Corporation partnered with a regional utility provider in Saudi Arabia to implement gas turbines for large-scale power and desalination projects, supporting industrial growth and grid stability.

✅ September 2025 - Europe & North America: Rolls-Royce expanded its aerospace gas turbine division, introducing upgraded turbine components for commercial aircraft to improve fuel efficiency and reduce maintenance requirements.

Mergers & Acquisitions:

✅ January 2026 - United States: General Electric acquired a U.S.-based gas turbine component manufacturer to strengthen its supply chain and enhance in-house production of advanced turbine blades.

✅ December 2025 - Europe: Siemens AG completed the acquisition of a European engineering firm specializing in turbine control systems, aiming to integrate digital monitoring and predictive maintenance solutions into its gas turbine portfolio.

✅ November 2025 - Asia-Pacific: Mitsubishi Power invested in a strategic partnership with a Japanese additive manufacturing company to accelerate production of 3D-printed turbine blades, improving efficiency and reducing lead times.

Buy Now & Unlock 360° Market Intelligence:-https://www.datamintelligence.com/buy-now-page?report=gas-turbine-market?Juli

Key Players:

General Electric (GE) - A prominent player in power generation and industrial gas turbines, focusing on high-efficiency turbines and advanced airfoil technologies.

Siemens AG - Known for H-class gas turbines, digital solutions, and integration of renewable-ready power generation systems.

Mitsubishi Heavy Industries (MHPS) - Specializes in advanced turbine designs for industrial, utility, and combined-cycle applications.

Kawasaki Heavy Industries - Offers a diverse portfolio of turbines for power plants and industrial applications, emphasizing reliability and efficiency.

Ansaldo Energia - Focused on gas turbine solutions for industrial, utility, and renewable-integrated power projects globally.

Market Segmentation:

By design type, Heavy-Duty Gas Turbines dominate the market, providing high efficiency and reliability for large-scale power generation and industrial operations. Industrial Gas Turbines are widely adopted in mid-sized power plants and oil & gas facilities due to their operational flexibility, while Aeroderivative Gas Turbines are preferred in aerospace and marine applications for their lightweight and rapid start-up capabilities.

By technology, Combined Cycle Gas Turbines are leading the market with higher thermal efficiency and lower emissions, while Open Cycle Gas Turbines are utilized for peak load applications and emergency power generation due to their quick deployment advantages.

By capacity, turbines ranging from 40 MW to 120 MW hold a significant market share, balancing performance and investment costs for industrial and utility-scale projects. Turbines below 40 MW are used for small-scale power applications, whereas 120 MW-300 MW and above 300 MW capacities cater to large power plants and offshore energy facilities.

By application, power generation remains the largest segment, driven by expanding electricity demand and infrastructure modernization. The oil & gas sector utilizes gas turbines for upstream and midstream operations, while aerospace and marine applications rely on specialized turbines for propulsion and auxiliary power. This segmentation highlights the adaptability and critical role of gas turbines across multiple industries globally.

Speak to Our Analyst and Get Customization in the report as per your requirements:-https://www.datamintelligence.com/customize/gas-turbine-market?Juli

Regional Insights:

North America dominates the gas turbine market with a 35% share (USD 6.2 billion in 2024), driven by advanced power generation infrastructure, high adoption of aeroderivative and heavy-duty turbines, and supportive government initiatives for clean and efficient energy systems. The U.S. leads the region due to large-scale utility projects, oil & gas applications, and aerospace & marine turbine deployment.

Europe holds a 25% share (USD 4.4 billion in 2024), supported by stringent environmental regulations, investments in combined-cycle power plants, and technological advancements in high-efficiency turbines. Countries such as Germany, the UK, and France are focusing on modernizing power generation facilities, which accelerates gas turbine adoption.

Asia-Pacific accounts for 30% (USD 5.3 billion in 2024) and is the fastest-growing region with a projected CAGR of over 6.5% during 2025-2031. Rapid industrialization, expanding electricity demand, and growing oil & gas exploration in countries like China, India, and Japan drive market growth. Government initiatives promoting energy efficiency and renewable integration further boost adoption of gas turbines.

Market Dynamics:

Driver:
Availability of Low-Cost Natural Gas: The abundant and affordable supply of natural gas in regions such as North America and the Middle East has significantly boosted the adoption of gas turbines for power generation and industrial applications. Lower fuel costs make gas turbines an economically attractive option compared to alternative energy sources, supporting higher efficiency and competitive operational expenditures.

Technological Advancements: Continuous innovations in turbine design, materials, and manufacturing processes have led to the development of highly efficient gas turbine units. Advancements such as high-efficiency combined-cycle turbines, aeroderivative designs, and additive manufacturing of critical components enhance performance, reduce emissions, and extend operational lifespan. These technological improvements enable operators to achieve greater energy output with lower fuel consumption, further promoting market growth.

📌 Request for 2 Days FREE Trial Access: https://www.datamintelligence.com/reports-subscription

☛ Power your decisions with real-time competitor tracking, strategic forecasts, and global investment insights all in one place.

✅ Competitive Landscape

✅ Sustainability Impact Analysis

✅ KOL / Stakeholder Insights

✅ Unmet Needs & Positioning, Pricing & Market Access Snapshots

✅ Market Volatility & Emerging Risks Analysis

✅ Quarterly Industry Report Updated

✅ Live Market & Pricing Trends

✅ Import-Export Data Monitoring

☛ Have a look at our Subscription Dashboard: https://www.youtube.com/watch?v=x5oEiqEqTWg?Juli

Contact Us -
Company Name: DataM Intelligence
Contact Person: Sai Kiran
Email: Sai.k@datamintelligence.com
Phone: +1 877 441 4866
Website: https://www.datamintelligence.com

About Us -
DataM Intelligence is a Market Research and Consulting firm that provides end-to-end business solutions to organizations from Research to Consulting. We, at DataM Intelligence, leverage our top trademark trends, insights and developments to emancipate swift and astute solutions to clients like you. We encompass a multitude of syndicate reports and customized reports with a robust methodology.

Our research database features countless statistics and in-depth analyses across a wide range of 6300+ reports in 40+ domains creating business solutions for more than 200+ companies across 50+ countries; catering to the key business research needs that influence the growth trajectory of our vast clientele.

This release was published on openPR.