PUBLISHER: Grand View Research | PRODUCT CODE: 1908776
PUBLISHER: Grand View Research | PRODUCT CODE: 1908776
The global gas turbine market size was estimated at USD 11.46 billion in 2025 and is projected to reach USD 14.19 billion by 2033, growing at a CAGR of 2.1% from 2026 to 2033. A gas turbine operates by heating a mixture of fuel and ambient air to high temperatures, producing mechanical power through rotating turbine blades that subsequently drive a generator to produce electricity.
Continued technological progress in the energy sector and increasing adoption of distributed power systems are major factors fostering market expansion. Rising government support for cleaner generation technologies aimed at reducing CO2 emissions is also strengthening demand across the industrial gas turbine industry.
Gas turbines remain extensively used for power generation, where combined cycle configurations are preferred over simple cycle systems due to their higher efficiency and lower operating costs. Combined Heat and Power (CHP) plants exemplify this capability, producing electricity while simultaneously delivering mechanical drive. The ongoing transition from coal-based to gas-based power generation in countries such as the U.S., Japan, India, and China, along with policy incentives promoting gas-fired capacity additions, continues to drive market growth globally.
Global Gas Turbine Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Grand View Research has segmented the global gas turbine market report based on the capacity, end use, technology and region.