How Big is the Gas Turbine Market | Size, Segments & Growth Outlook 2025

Q: How big is the gas turbine market?

The gas turbine market was estimated at USD 18.1 billion in 2024 and is projected to reach USD 29.4 billion by 2031.

Q: What factors are driving the gas turbine market?

Major drivers include power demand growth, gas infrastructure expansion, and a shift to lower-emission technologies

Q: Who are the top companies in the gas turbine market?

Major players include GE, Siemens Energy, Mitsubishi Power, Rolls-Royce, and Ansaldo Energia

Q: What are some recent trends in the market?

Trends include hydrogen-ready turbines, digital twins, modular designs, and AI-based maintenance optimization

Q: How does 6W market outlook report help businesses in making decisions?

6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.

Q: Do you also provide customisation in the market study?

Yes, we provide customisation as per your requirements. To learn more, feel free to contact us on sales@6wresearch.com

Code: MTA6109

Publication Date: Jul 2025

What is the size of the Gas Turbine Market?

According to 6Wresearch internal database and industry insights, the Global Gas Turbine Market was estimated at USD 18.1 billion in 2024 and is projected to reach USD 29.4 billion by 2031, growing at a CAGR of 9.3% during the forecast period 2025-2031.

As the market is driven by rising electricity demand, modernization of power plants, and the shift toward cleaner gas-based energy generation technologies, the gas turbine market is anticipated to rise in the forthcoming years.

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Key Growth Drivers of the Gas Turbine Market

Growing need for reliable and flexible power generation
Shift from coal-based to gas-based power plants
Increasing investment in combined-cycle and cogeneration systems
Expansion of natural gas infrastructure and LNG supply
Rising use in aviation and marine propulsion applications

Gas Turbine Market Trends

Gas Turbine Market is growing with the time as the demand for aeroderivative gas turbines is increasing due to their fuel efficiency and fast startup. Further, the modular and digital-ready turbines are gaining adoption. Aside from these, digital twin technology and predictive maintenance tools are being integrated to improve lifecycle performance and reduce downtime. Collectively, all these trends are contributing in the expansion of landscape of the market worldwide.

Emerging Developments in the Gas Turbine Market

Gas turbine market is seeing growth as the hydrogen-compatible turbines are being developed to support decarbonization goals. At the other side, AI-based performance optimization tools are also being launched. Further, the compact and high-efficiency microturbines are emerging for distributed power applications, especially in industrial and commercial setups. Together, all these developments are enhancing the presence of the market.