Summary

The global market for Gas Turbine was estimated to be worth US$ 16,743.83 million in 2024 and is forecast to a readjusted size of US$ 30,152.49 million by 2031 with a CAGR of 7.96% during the forecast period 2025-2031.

North American market for Gas Turbine was valued at $ 5,742.56 million in 2024 and will reach $ 10,596.25 million by 2031, at a CAGR of 8.22% during the forecast period of 2025 through 2031.
Asia-Pacific market for Gas Turbine was valued at $ 5,694.51 million in 2024 and will reach $ 11,080.24 million by 2031, at a CAGR of 8.84% during the forecast period of 2025 through 2031.
Europe market for Gas Turbine was valued at $ 2,778.97 million in 2024 and will reach $ 3,980.60 million by 2031, at a CAGR of 4.95 % during the forecast period of 2025 through 2031.

The global key companies of Gas Turbine include GE Vernova, Siemens Energy, MHPS, Dongfang Electric Corporation, Solar Turbines, Baker Hughes, Ansaldo, Kawasaki, and BHEL, etc. In 2024, the global three largest players hold a share approximately 71.60 % in terms of revenue.
This report aims to provide a comprehensive presentation of the global market for Gas Turbine, focusing on the total sales volume, sales revenue, price, key companies market share and ranking, together with an analysis of Gas Turbine by region & country, by Type, and by Application.
The Gas Turbine market size, estimations, and forecasts are provided in terms of sales volume (MW) and sales revenue ($ millions), considering 2024 as the base year, with history and forecast data for the period from 2020 to 2031. With both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Gas Turbine.

Market Segmentation
By Company
GE Vernova
Siemens Energy
MHPS
Dongfang Electric Corporation
Solar Turbines
Baker Hughes
Ansaldo
Kawasaki
BHEL

Segment by Type
Heavy Duty Gas Turbine
Aeroderivative Gas Turbine
Light Duty Gas Turbine

Segment by Application
Power Generation
Oil & Gas
Other

By Region
North America
United States
Canada

Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia-Pacific

Europe
Germany
France
Uk
Italy
Spain
Rest of Europe

Latin America
Mexico
Brazil
Rest of Latin America

Middle East & Africa
Middle East
Africa

Chapter Outline
Chapter 1: Introduces the report scope of the report, global total market size (valve, volume and price). This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 2: Detailed analysis of Gas Turbine manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 3: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 5: Sales, revenue of Gas Turbine in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world.
Chapter 6: Sales, revenue of Gas Turbine in country level. It provides sigmate data by Type, and by Application for each country/region.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Conclusion.

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Table of Contents

1 Market Overview 1
1.1 Gas Turbine Product Introduction 1
1.2 Global Gas Turbine Market Size Forecast 1
1.2.1 Global Gas Turbine Sales Value (2020-2031) 2
1.2.2 Global Gas Turbine Sales Volume (2020-2031) 3
1.2.3 Global Gas Turbine Sales Price (2020-2031) 4
1.3 Gas Turbine Market Trends & Drivers 5
1.3.1 Gas Turbine Industry Trends 5
1.3.2 Gas Turbine Market Drivers & Opportunity 5
1.3.3 Gas Turbine Market Challenges 6
1.3.4 Gas Turbine Market Restraints 6
1.4 Assumptions and Limitations 6
1.5 Study Objectives 7
1.6 Years Considered 8
2 Competitive Analysis by Company 10
2.1 Global Gas Turbine Players Revenue Ranking (2024) 10
2.2 Global Gas Turbine Revenue by Company (2020-2025) 11
2.3 Global Gas Turbine Players Sales Volume Ranking (2024) 12
2.4 Global Gas Turbine Sales Volume by Company Players (2020-2025) 13
2.5 Global Gas Turbine Average Price by Company (2020-2025) 15
2.6 Key Manufacturers Gas Turbine Manufacturing Base and Headquarters 15
2.7 Key Manufacturers Establish Date of Gas Turbine 16
2.8 Gas Turbine Market Competitive Analysis 17
2.8.1 Gas Turbine Market Concentration Rate (2020-2025) 17
2.8.2 Global 5 Largest Manufacturers by Gas Turbine Revenue in 2024 18
2.8.3 Global Top Manufacturers by Company Type (Tier 1, Tier 2, and Tier 3) & (based on the Revenue in Gas Turbine as of 2024) 18
2.9 Mergers & Acquisitions, Expansion 19
3 Segmentation by Type 21
3.1 Introduction by Type 21
3.1.1 Heavy Duty Gas Turbine 21
3.1.2 Aeroderivative Gas Turbine 21
3.1.3 Light Duty Gas Turbine 22
3.2 Global Gas Turbine Sales Value by Type 23
3.2.1 Global Gas Turbine Sales Value by Type (2020 VS 2024 VS 2031) 23
3.2.2 Global Gas Turbine Sales Value, by Type (2020-2031) 24
3.2.3 Global Gas Turbine Sales Value, by Type (%) (2020-2031) 25
3.3 Global Gas Turbine Sales Volume by Type 26
3.3.1 Global Gas Turbine Sales Volume by Type (2020 VS 2024 VS 2031) 26
3.3.2 Global Gas Turbine Sales Volume, by Type (2020-2031) 27
3.3.3 Global Gas Turbine Sales Volume, by Type (%) (2020-2031) 28
3.4 Global Gas Turbine Average Price by Type (2020-2031) 28
4 Segmentation by Application 30
4.1 Introduction by Application 30
4.1.1 Power Generation 30
4.1.2 Oil & Gas 30
4.1.3 Other 31
4.2 Global Gas Turbine Sales Value by Application 32
4.2.1 Global Gas Turbine Sales Value by Application (2020 VS 2024 VS 2031) 32
4.2.2 Global Gas Turbine Sales Value, by Application (2020-2031) 33
4.2.3 Global Gas Turbine Sales Value, by Application (%) (2020-2031) 34
4.3 Global Gas Turbine Sales Volume by Application 35
4.3.1 Global Gas Turbine Sales Volume by Application (2020 VS 2024 VS 2031) 35
4.3.2 Global Gas Turbine Sales Volume, by Application (2020-2031) 36
4.3.3 Global Gas Turbine Sales Volume, by Application (%) (2020-2031) 37
4.4 Global Gas Turbine Average Price by Application (2020-2031) 37
5 Segmentation by Region 39
5.1 Global Gas Turbine Sales Value by Region 39
5.1.1 Global Gas Turbine Sales Value by Region: 2020 VS 2024 VS 2031 39
5.1.2 Global Gas Turbine Sales Value by Region (2020-2025) 39
5.1.3 Global Gas Turbine Sales Value by Region (2026-2031) 40
5.1.4 Global Gas Turbine Sales Value by Region (%), (2020-2031) 40
5.2 Global Gas Turbine Sales Volume by Region 41
5.2.1 Global Gas Turbine Sales Volume by Region: 2020 VS 2024 VS 2031 41
5.2.2 Global Gas Turbine Sales Volume by Region (2020-2025) 42
5.2.3 Global Gas Turbine Sales Volume by Region (2026-2031) 42
5.2.4 Global Gas Turbine Sales Volume by Region (%), (2020-2031) 42
5.3 North America 44
5.3.1 North America Gas Turbine Sales Value, 2020-2031 44
5.3.2 North America Gas Turbine Sales Value by Country (%), 2024 VS 2031 45
5.4 Europe 46
5.4.1 Europe Gas Turbine Sales Value, 2020-2031 46
5.4.2 Europe Gas Turbine Sales Value by Country (%), 2024 VS 2031 46
5.5 Asia Pacific 47
5.5.1 Asia Pacific Gas Turbine Sales Value, 2020-2031 47
5.5.2 Asia Pacific Gas Turbine Sales Value by Region (%), 2024 VS 2031 48
5.6 Latin America 49
5.6.1 Latin America Gas Turbine Sales Value, 2020-2031 49
5.6.2 Latin America Gas Turbine Sales Value by Country (%), 2024 VS 2031 50
5.7 Middle East & Africa 51
5.7.1 Middle East & Africa Gas Turbine Sales Value, 2020-2031 51
5.7.2 Middle East & Africa Gas Turbine Sales Value by Country (%), 2024 VS 2031 52
6 Segmentation by Key Countries/Regions 53
6.1 Key Countries/Regions Gas Turbine Sales Value Growth Trends, 2020 VS 2024 VS 2031 53
6.2 Key Countries/Regions Gas Turbine Sales Value and Sales Volume 54
6.2.1 Key Countries/Regions Gas Turbine Sales Value, 2020-2031 54
6.2.2 Key Countries/Regions Gas Turbine Sales Volume, 2020-2031 57
6.3 United States 61
6.3.1 United States Gas Turbine Sales Value, 2020-2031 61
6.3.2 United States Gas Turbine Sales Value by Type (%), 2024 VS 2031 62
6.3.3 United States Gas Turbine Sales Value by Application, 2024 VS 2031 63
6.4 Europe 64
6.4.1 Europe Gas Turbine Sales Value, 2020-2031 64
6.4.2 Europe Gas Turbine Sales Value by Type (%), 2024 VS 2031 65
6.4.3 Europe Gas Turbine Sales Value by Application, 2024 VS 2031 65
6.5 China 66
6.5.1 China Gas Turbine Sales Value, 2020-2031 66
6.5.2 China Gas Turbine Sales Value by Type (%), 2024 VS 2031 67
6.5.3 China Gas Turbine Sales Value by Application, 2024 VS 2031 67
6.6 Japan 68
6.6.1 Japan Gas Turbine Sales Value, 2020-2031 68
6.6.2 Japan Gas Turbine Sales Value by Type (%), 2024 VS 2031 69
6.6.3 Japan Gas Turbine Sales Value by Application, 2024 VS 2031 69
6.7 South Korea 70
6.7.1 South Korea Gas Turbine Sales Value, 2020-2031 70
6.7.2 South Korea Gas Turbine Sales Value by Type (%), 2024 VS 2031 71
6.7.3 South Korea Gas Turbine Sales Value by Application, 2024 VS 2031 72
6.8 Southeast Asia 73
6.8.1 Southeast Asia Gas Turbine Sales Value, 2020-2031 73
6.8.2 Southeast Asia Gas Turbine Sales Value by Type (%), 2024 VS 2031 74
6.8.3 Southeast Asia Gas Turbine Sales Value by Application, 2024 VS 2031 75
6.9 India 76
6.9.1 India Gas Turbine Sales Value, 2020-2031 76
6.9.2 India Gas Turbine Sales Value by Type (%), 2024 VS 2031 77
6.9.3 India Gas Turbine Sales Value by Application, 2024 VS 2031 77
7 Company Profiles 78
7.1 GE Vernova 78
7.1.1 GE Vernova Company Information 78
7.1.2 GE Vernova Introduction and Business Overview 79
7.1.3 GE Vernova Gas Turbine Sales, Revenue, Price and Gross Margin (2020-2025) 79
7.1.4 GE Vernova Gas Turbine Product Offerings 79
7.2 Siemens Energy 81
7.2.1 Siemens Energy Company Information 81
7.2.2 Siemens Energy Introduction and Business Overview 82
7.2.3 Siemens Energy Gas Turbine Sales, Revenue, Price and Gross Margin (2020-2025) 82
7.2.4 Siemens Energy Gas Turbine Product Offerings 83
7.3 MHPS 84
7.3.1 MHPS Company Information 84
7.3.2 MHPS Introduction and Business Overview 85
7.3.3 MHPS Gas Turbine Sales, Revenue, Price and Gross Margin (2020-2025) 86
7.3.4 MHPS Gas Turbine Product Offerings 86
7.4 Dongfang Electric Corporation 87
7.4.1 Dongfang Electric Corporation Company Information 87
7.4.2 Dongfang Electric Corporation Introduction and Business Overview 88
7.4.3 Dongfang Electric Corporation Gas Turbine Sales, Revenue, Price and Gross Margin (2020-2025) 89
7.4.4 Dongfang Electric Corporation Gas Turbine Product Offerings 89
7.5 Solar Turbines 91
7.5.1 Solar Turbines Company Information 91
7.5.2 Solar Turbines Introduction and Business Overview 91
7.5.3 Solar Turbines Gas Turbine Sales, Revenue, Price and Gross Margin (2020-2025) 92
7.5.4 Solar Turbines Gas Turbine Product Offerings 92
7.6 Baker Hughes 93
7.6.1 Baker Hughes Company Information 93
7.6.2 Baker Hughes Introduction and Business Overview 93
7.6.3 Baker Hughes Gas Turbine Sales, Revenue, Price and Gross Margin (2020-2025) 94
7.6.4 Baker Hughes Gas Turbine Product Offerings 95
7.7 Ansaldo 96
7.7.1 Ansaldo Company Information 96
7.7.2 Ansaldo Introduction and Business Overview 97
7.7.3 Ansaldo Gas Turbine Sales, Revenue, Price and Gross Margin (2020-2025) 97
7.7.4 Ansaldo Gas Turbine Product Offerings 98
7.8 Kawasaki 98
7.8.1 Kawasaki Company Information 99
7.8.2 Kawasaki Introduction and Business Overview 99
7.8.3 Kawasaki Gas Turbine Sales, Revenue, Price and Gross Margin (2020-2025) 100
7.8.4 Kawasaki Gas Turbine Product Offerings 100
7.9 BHEL 101
7.9.1 BHEL Company Information 101
7.9.2 BHEL Introduction and Business Overview 101
7.9.3 BHEL Gas Turbine Sales, Revenue, Price and Gross Margin (2020-2025) 102
7.9.4 BHEL Gas Turbine Product Offerings 102
8 Industry Chain Analysis 104
8.1 Gas Turbine Industrial Chain 104
8.2 Gas Turbine Upstream Analysis 104
8.2.1 Key Raw Materials 104
8.2.2 Raw Materials Key Suppliers 106
8.2.3 Manufacturing Cost Structure 107
8.3 Downstream Analysis (Customers Analysis) 107
8.4 Sales Model and Sales Channels 108
9 Research Findings and Conclusion 109
10 Appendix 110
10.1 Research Methodology 110
10.1.1 Methodology/Research Approach 110
10.1.2 Data Source 113
10.2 Author Details 116
10.3 Disclaimer 117