Gas Turbine Market by Product, End-user, Technology, and Geography - Forecast and Analysis 2021-2025

  • Published: Aug 2021
  • Pages: 120
  • SKU: IRTNTR43446

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The gas turbine market size is expected to grow by $ 2.54 bn and record a CAGR of 1.88% during 2021-2025.

This post-pandemic gas turbine market report has assessed the shift in consumer behavior and has identified and explored the upcoming trends and drivers that the vendors can capitalize on to support prompt business decisions. In this gas turbine market analysis report, key drivers such as enhanced efficiency and robustness of gas turbines have been discussed with emerging growth regions, which will offer immense business opportunities. Our analysts have also identified challenges such as investments in alternate energy sources, which will impede market growth. With these insights, the vendors can recreate their plan of action to obtain growth opportunities in the future.

What will the Gas Turbine Market Size be in 2021?


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Who are the Key Vendors in the Gas Turbine Market?

The gas turbine market forecast report provides insights on complete key vendor profiles and their business strategies to reimage themselves. The profiles include information on the production, competitive landscape, sustainability, and prospects of the leading companies including:

  • Ansaldo Energia Spa
  • Bharat Heavy Electricals Ltd.
  • Capstone Green Energy Corp.
  • Caterpillar Inc.
  • General Electric Co.
  • IHI Corp.
  • Kawasaki Heavy Industries Ltd.
  • Mitsubishi Heavy Industries Ltd.
  • OPRA Turbines
  • Siemens AG

Our analysts have extensively outlined successful business strategies deployed by the key vendors in this market research report. The gas turbine market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

This gas turbine market report further entails segmentations by technology (CCGT and OCGT), product (Heavy-duty gas turbine and Aeroderivative gas turbine), end-user (Power generation, Mobility, Oil and gas, and Others), and geography (APAC, North America, Europe, MEA, and South America). The available actionable insights on the segmentations, in this report, will enable a better understanding of the target audience and changing demand patterns.

To make the most of the opportunities, vendors should focus on fast-growing segments, while maintaining their positions in the slow-growing segments. The gas turbine market further offers well-structured marketing strategies to overcome the negative post-COVID-19 impact, if any, on each product and service segment.

Which are the Key Regional Markets for Gas Turbine Market?


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The report offers an up-to-date analysis of the geographical composition of the market. APAC will record a fast growth rate during 2021-2025, owing to which the region should offer several growth opportunities to market vendors. The will significantly influence gas turbine market growth in this region. From the statistical study of the geographic landscape, you can interpret and understand the competitive intelligence and regional opportunities in store for vendors for 2021-2025.

39% of the market’s growth will originate from APAC during the forecast period. US, China, Japan, India, and Germany are the key markets for gas turbine market in the region. This report provides estimations of the contribution of all regions to the growth of the gas turbine market size.

Gas Turbine Market Scope

Report Coverage


Page number


Base year


Forecast period


Growth momentum & CAGR

Accelerate at a CAGR of 1.88%

Market growth 2021-2025

$ 2.54 billion

Market structure


YoY growth (%)


Regional analysis

APAC, North America, Europe, MEA, and South America

Performing market contribution

APAC at 39%

Key consumer countries

US, China, Japan, India, and Germany

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Ansaldo Energia Spa, Bharat Heavy Electricals Ltd., Capstone Green Energy Corp., Caterpillar Inc., General Electric Co., IHI Corp., Kawasaki Heavy Industries Ltd., Mitsubishi Heavy Industries Ltd., OPRA Turbines, and Siemens AG

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

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What are the Key Factors Covered in this Gas Turbine Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive gas turbine market growth during the next five years
  • Precise estimation of the gas turbine market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the gas turbine market industry across APAC, North America, Europe, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of gas turbine market vendors

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.


Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases


Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts



  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis


  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The gas turbine market growth will increase by $2440.55 million during 2019-2024.
The gas turbine market is expected to grow at a CAGR of 1.72% during 2019-2024.
Technavio has segmented the gas turbine market by technology (CCGT and OCGT) ,end user (Power generation, Mobility, Oil and gas, and Others) , and geographic (APAC, MEA, North America, Europe, and South America).
Ansaldo Energia Spa, Bharat Heavy Electricals Ltd., Capstone Turbine Corp., Caterpillar Inc., General Electric Co., IHI Corp., Kawasaki Heavy Industries Ltd., Mitsubishi Heavy Industries Ltd., OPRA Turbines, Siemens AG are a few of the key vendors in the gas turbine market.
APAC will register the highest growth rate of 49.75% among the other regions. Therefore, the gas turbine market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
  • China
  • US
  • Japan
  • India
  • Germany
The key factors driving the gas turbine market growth are:
  • Enhanced efficiency and robustness of gas turbines
  • Development of GTCC and IGCC technologies
The gas turbine market vendors should focus on grabbing business opportunities from the ccgt segment as it accounted for the largest market share in the base year.
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