Hyderabad, India, October 26, 2026: According to Mordor Intelligence, the global gas turbine market size is projected to increase from USD 21.11 billion in 2026 to USD 31.32 billion by 2032, at a CAGR of 6.87% over 2027–2032. Additional demand comes from industrial facilities, oil and gas operations, and combined-cycle power plants seeking dependable electricity generation, improved fuel efficiency, and lower operational downtime. The gas turbine industry Demand is shaped by new power generation projects, the replacement of aging units, plant efficiency requirements, and the need to maintain reliable operations.
Gas Turbine Market Upcoming Trends & Developments:
Expansion of medium-capacity applications: Turbines in the 30–120 MW range are projected to register the fastest capacity-segment growth, with a CAGR of 7.3% through 2032. These units serve applications requiring a smaller generating capacity than large utility installations.
Natural gas remains the leading fuel: Natural gas accounted for 90.04% of equipment and service revenue in 2026. Other fuel types, including hydrogen and biogas, are expected to grow faster, supported by interest in alternative fuels and changes in energy strategies.
Asia-Pacific maintains its lead: The region accounted for 60.01% of global gas turbine equipment and service revenue in 2026 and is forecast to grow at a CAGR of 7.8% through 2032.
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=abnewswire
Gas Turbine Market Segmentation
- By capacity: Below 30 MW, 30–120 MW, and above 120 MW.
- By operating cycle: Combined cycle, simple/open cycle, and cogeneration/combined heat and power (CHP).
- By fuel type: Natural gas, liquid fuels, and other fuel types.
- By end-user industry: Power, oil and gas, and other end-user industries.
- By geography: North America, Europe, Asia-Pacific, South America, and the Middle East and Africa.
These segments reflect differences in generating capacity, fuel requirements, plant configurations, and end-use applications. The Gas Turbine market share varies across segments according to installation requirements and regional demand.
Asia-Pacific Leads the Gas Turbine Market
Asia-Pacific is the largest regional market for gas turbines, accounting for 60.01% of global equipment and service revenue in 2026. The region is also forecast to register the fastest growth, at a CAGR of 7.8% through 2032. Its leading position reflects demand for electricity generation equipment and the requirements of large-scale power projects. Industrial development and investment in gas-fired generation contribute to the region’s market opportunities. Demand across different turbine capacities and operating cycles provides manufacturers with opportunities to serve utilities and industrial customers. Asia-Pacific is therefore expected to remain a key region for gas turbine suppliers during the forecast period.
- GE Vernova Inc.
- Siemens Energy AG
- Mitsubishi Heavy Industries Ltd.
- Kawasaki Heavy Industries Ltd.
- Ansaldo Energia SpA
- Everllence SE
- Wärtsilä Oyj Abp
- Rolls-Royce Holdings plc
- Solar Turbines Incorporated
- Capstone Green Energy Holdings, Inc.
- Doosan Enerbility Co., Ltd.
- IHI Corporation
- Bharat Heavy Electricals Limited
- Harbin Electric Co. Ltd.
- Shanghai Electric Group Co. Ltd.
- Destinus OPRA BV
- Baker Hughes Company
- Vericor Power Systems LLC
- Zorya-Mashproekt
- Nanjing Turbine & Electric Machinery Group
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