Gas Turbine Market Size & Share | North America, Europe, & APAC Industry Forecasts 2026: Graphical Research

Major gas turbine market players include General Electric, OPRA Turbines, VERICOR, MAN Energy Solutions, UEC-Saturn, Wartsila, Siemens, Rolls-Royce plc, Solar Turbines Incorporated, BHEL, Mitsubishi Power, Kawasaki Heavy Industries, Harbin Electric Machinery Company, Ansaldo Energia, and Capstone Green Energy Corporation.

Pune, INDIA


Pune, India, Aug. 12, 2021 (GLOBE NEWSWIRE) --

The global gas turbine market size is anticipated to register a lucrative growth during the forecast period owing to the rising demand for having distributed power generation systems and making optimum use of energy sources. The greenhouse gas or GHG emissions levels are increasing at an alarming rate, thereby raising the need to have alternative sources of generating energy like gas turbines.

Some of the major trends that will foster the development of global gas turbine industry are mentioned below:

Aero-derivative turbines deployment in North America:

North America gas turbine market size is projected to grow at an impressive rate in the coming years. Aero-derivative and heavy-duty turbines are the popular product categories in the industry. Among these, aero-derivative turbines will gain momentum among end users in North America with the increasing focus on renewable sources of energy to produce electricity.

These turbines are quite efficient in nature and use fuels in an effective way. GE Power launched its own gas turbine named 7HA.03 and installed it at Dania Beach Clean Energy Center, Florida in 2019. It is the largest and the most energy-efficient gas turbine with its highest capacity being 60 Hz. It generates the lowest conversion cost from gas to electricity, representing the scope for aero-derivative turbines in the region.

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Power plant applications for gas turbines in North America:

Gas turbines are projected to experience the highest application across power plants in North America. An important reason behind this is the rise in government initiatives to create an advanced industrial infrastructure. The demand to reduce the level of GHG emissions has risen, thereby prompting the implementation of eco-friendly energy sources across power plants in the region.

Governments across North America are increasing their expenditure on improving the infrastructure of power plants. They have placed strict regulations to encourage the use of renewable energies in the production of electricity. Lately, gas-based electricity generation is gaining a lot of popularity across many countries in North America, fostering the use of gas turbines in regional power plants.

U.S. market will progress significantly:

U.S. gas turbine market is expected to flourish at a promising rate because of the rising need to adopt eco-friendly energy sources to reduce its carbon footprint from factories. The government regulations are becoming more stringent which has increased the demand for gas turbines. Many manufacturers across the country are creating innovative technologies to enhance the functioning of these equipment, which is another factor that will raise the demand for gas turbines in the country.

Demand for gas turbines with less than 50 kW capacity in Asia Pacific:

Gas turbines are manufactured with different capacities to suit various industrial needs. Gas turbines with less than 50 kW capacity are expected to gain traction among end users in Asia Pacific. A major reason for this is their rising use in various processed industries and small-scale power plants. Co-generating units are being developed at a high rate in the region to cater to the rising demand for electricity across different industries. Isolated grid networks are being extensively installed to stabilize the flow of power. These factors will also positively contribute towards the demand for gas turbines with the above-mentioned capacity.

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APAC sees higher use of open cycle combustion gas turbines:

Technologies like combined and open cycle combustion are widely used in the production of gas turbines. Open cycle combustion gas turbines will witness increase in demand in Asia Pacific over the coming years because of the rise in electricity demand in offshore industrial establishments and encouraging progress seen in the aircraft sector. These turbines have various beneficial features like compact size, highly versatile in operations, takes lower time to heat up and has a quick start facility.

Japan gas turbine industry grows at notable pace:

Japan gas turbine market share is expected to grow at a promising rate with the expansion of gas-fueled power plants. The awareness about using renewable energy sources for the production of electricity is growing among industries in the country. The manufacturers are increasing their focus on the implementation of Combined Cycle Gas Turbine (CCGT) technology to produce highly energy-efficient gas turbines. Gas-powered engines are finding high demand in drilling and extraction activities, further stimulating the market trends in Japan.

Europe adopts heavy duty gas turbines:

Heavy duty gas turbines will find high demand in Europe on account of rapid industrialization activities seen in the region. The investments made by various public and private organizations towards the expansion of manufacturing sector is growing at a notable pace in Europe. These turbines have some key features associated with them like high reliability, greater efficiency, and smooth operation, fostering their demand across different regional sectors.

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Germany gas turbine market gains momentum:

Rise in the replacement of coal-based power plants with gas-fueled ones will positively impact Germany market over 2027. The supply of shale in Europe is growing at a good pace because of the rise in oil exploration and production activities. Shale has a much lower carbon emission rate as compared to other fossil fuels. In 2021, German company Siemens Energy announced its plan to build 300 MW gas-based power plant to offer stability across grid networks in Southern Germany.

Gas turbines will continue to grow in demand across the world in the future. This is because many countries are striving to find eco-friendly sources of energy generation to combat serious environmental issues like climate change and global warming. Since these turbines are highly efficient in their functioning, they can help manufacturing plants produce a lot more by using much lesser power as compared to other fuels.

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