North America Gas Turbine Market Size and Forecast 2025-2031, Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Technology, Capacity, Application, and Geography

Description

List of Tables

The North America Gas Turbine Market size was valued at US$ 7,938.04 million in 2024 and is expected to reach US$ 11,089.80 million by 2031; it is estimated to record a CAGR of 5.02% from 2025 to 2031.

The North America gas turbine market includes key stakeholders such as raw material suppliers, gas turbine manufacturing companies, distributors, regulatory bodies, and end users. Raw material providers play a vital role in the North America gas turbine market. They supply the necessary raw materials, such as nickel, steel, titanium, copper, aluminum, and composite materials & coatings, to gas turbine manufacturing companies. The compressor, combustion chamber, and turbine are a few major components of a gas turbine. The availability, quality, and pricing of raw materials and components can substantially impact the overall market. Raw material providers maintain stable supply chains to meet the demand from gas turbine manufacturing companies. They may also engage in research and development activities to enhance the properties and performance of materials, thereby contributing to the advancement of gas turbine technologies. Nucor, Hudson Tool Steel, American Alloy Steel, Nippon Steel, American Industrial Steel & Supply, Industrial Metal Supply Co., and Belmont Metals Inc., among others, are the raw material and component suppliers for the gas turbine market across North America. GE Vernova Inc.; Siemens AG; Mitsubishi Heavy Industries Ltd; Caterpillar Inc.; Kawasaki Heavy Industries Ltd; Baker Hughes Co are among the key players operating in the North America gas turbine market. These companies design, develop, and produce a wide range of gas turbines for power generation, oil and gas, industrial, and other industries. These gas turbine manufacturing companies incorporate raw materials from suppliers to create efficient and reliable gas turbines to be used in various end-use industries that require an environment sustainable and comparatively low-carbon-emitting energy generation source than coal and oil. To improve gas turbine techniques, manufacturers primarily incorporate more precision in the fabrication process, improve machine performance, increase productivity, and enhance energy efficiency. Companies adopt activities such as collaborations, partnerships, or acquisitions to bring innovation and expertise into the company's portfolio. Strong partnerships with raw material and component providers are essential to ensure a steady supply and access to new technologies.

GE Vernova Inc.; Siemens AG; Mitsubishi Heavy Industries Ltd; Caterpillar Inc; Kawasaki Heavy Industries Ltd; Baker Hughes Co; Capstone Green Energy Holdings, Inc.; Industrial Boilers America; Doncasters Group; Vericor Power Systems among others are key players that are profiled in this North America Gas Turbine Market study.

The overall North America gas turbine market size has been derived using both primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the North America Gas Turbine Market size. The process also helps obtain an overview and forecast of the market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain analytical insights. This process includes industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the North America Gas Turbine Market.

Product Code: TIPRE00012818

1. Introduction

1.1 Report Guidance
1.2 Market Segmentation

2. Executive Summary

2.1 Analyst Market Outlook
2.2 Market Attractiveness

3. Research Methodology

3.1 Secondary Research
3.2 Primary Research
- 3.2.1 Hypothesis formulation:
- 3.2.2 Macro-economic factor analysis:
- 3.2.3 Developing base number:
- 3.2.4 Data Triangulation:
- 3.2.5 Country level data:
3.3 Assumptions and Limitations

4. North America Gas Turbine Market Landscape

4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
- 4.3.1 Raw Material and Component Suppliers:
- 4.3.2 Gas Turbine Manufacturing Companies:
- 4.3.3 Gas Turbine Distributors:
- 4.3.4 Regulatory Bodies:
- 4.3.5 End Users:
- 4.3.6 List of Vendors in the Value Chain

5. North America Gas Turbine Market - Key Market Dynamics

5.1 North America Gas Turbine Market - Key Market Dynamics
5.2 Market Drivers
- 5.2.1 Rising Demand for Clean and Efficient Power Generation
- 5.2.2 Growing Emphasis on Combined-Cycle Power Plants
- 5.2.3 Surging Electricity Demand
5.3 Market Restraints
- 5.3.1 Volatility in Natural Gas Prices
5.4 Market Opportunities
- 5.4.1 Growing proliferation of Hydrogen-Blended and Zero-Carbon Gas Turbines
5.5 Future Trends
- 5.5.1 Digitalization and AI-Driven Predictive Maintenance
5.6 Impact of Drivers and Restraints:

6. North America Gas Turbine Market Analysis

6.1 North America Gas Turbine Market Revenue (US$ Million), 2021-2031
6.2 North America Gas Turbine Market Forecast and Analysis

7. North America Gas Turbine Market Analysis - by Technology

7.1 Open Cycle
- 7.1.1 Overview
- 7.1.2 Open Cycle: North America Gas Turbine Market - Revenue and Forecast, 2021-2031 (US$ Million)
7.2 Combined Cycle
- 7.2.1 Overview
- 7.2.2 Combined Cycle: North America Gas Turbine Market - Revenue and Forecast, 2021-2031 (US$ Million)

8. North America Gas Turbine Market Analysis - by Capacity

8.1 Below 40 MW
- 8.1.1 Overview
- 8.1.2 Below 40 MW: North America Gas Turbine Market - Revenue and Forecast, 2021-2031 (US$ Million)
8.2 40-120 MW
- 8.2.1 Overview
- 8.2.2 40-120 MW: North America Gas Turbine Market - Revenue and Forecast, 2021-2031 (US$ Million)
8.3 120-300 MW
- 8.3.1 Overview
- 8.3.2 120-300 MW: North America Gas Turbine Market - Revenue and Forecast, 2021-2031 (US$ Million)
8.4 Above 300 MW
- 8.4.1 Overview
- 8.4.2 Above 300 MW: North America Gas Turbine Market - Revenue and Forecast, 2021-2031 (US$ Million)

9. North America Gas Turbine Market Analysis - by Application

9.1 Power Generation
- 9.1.1 Overview
- 9.1.2 Power Generation: North America Gas Turbine Market - Revenue and Forecast, 2021-2031 (US$ Million)
9.2 Oil and Gas
- 9.2.1 Overview
- 9.2.2 Oil and Gas: North America Gas Turbine Market - Revenue and Forecast, 2021-2031 (US$ Million)
9.3 Industrial
- 9.3.1 Overview
- 9.3.2 Industrial: North America Gas Turbine Market - Revenue and Forecast, 2021-2031 (US$ Million)

10. North America Gas Turbine Market - Country Analysis

10.1 North America
- 10.1.1 North America Gas Turbine Market Breakdown, by Countries
- 10.1.2 North America Gas Turbine Market - Revenue and Forecast Analysis - by Country
  - 10.1.2.1 North America Gas Turbine Market - Revenue and Forecast Analysis - by Country
  - 10.1.2.2 US: Gas Turbine Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 10.1.2.2.1 US: Gas Turbine Market Breakdown, by Technology
    - 10.1.2.2.2 US: Gas Turbine Market Breakdown, by Capacity
    - 10.1.2.2.3 US: Gas Turbine Market Breakdown, by Application
  - 10.1.2.3 Canada: Gas Turbine Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 10.1.2.3.1 Canada: Gas Turbine Market Breakdown, by Technology
    - 10.1.2.3.2 Canada: Gas Turbine Market Breakdown, by Capacity
    - 10.1.2.3.3 Canada: Gas Turbine Market Breakdown, by Application
  - 10.1.2.4 Mexico: Gas Turbine Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 10.1.2.4.1 Mexico: Gas Turbine Market Breakdown, by Technology
    - 10.1.2.4.2 Mexico: Gas Turbine Market Breakdown, by Capacity
    - 10.1.2.4.3 Mexico: Gas Turbine Market Breakdown, by Application

11. Competitive Landscape

11.1 Heat Map Analysis by Key Players
11.2 Company Positioning and Concentration

12. Industry Landscape

12.1 Overview
12.2 Market Initiative
12.3 Product Development
12.4 Mergers & Acquisitions

13. Company Profiles

13.1 GE Vernova Inc.
- 13.1.1 Key Facts
- 13.1.2 Business Description
- 13.1.3 Products and Services
- 13.1.4 Financial Overview
- 13.1.5 SWOT Analysis
- 13.1.6 Key Developments
13.2 Siemens AG
- 13.2.1 Business Description
- 13.2.2 Products and Services
- 13.2.3 Financial Overview
- 13.2.4 SWOT Analysis
- 13.2.5 Key Developments
13.3 Mitsubishi Heavy Industries Ltd
- 13.3.1 Key Facts
- 13.3.2 Business Description
- 13.3.3 Products and Services
- 13.3.4 Financial Overview
- 13.3.5 SWOT Analysis
- 13.3.6 Key Developments
13.4 Caterpillar Inc
- 13.4.1 Key Facts
- 13.4.2 Business Description
- 13.4.3 Products and Services
- 13.4.4 Financial Overview
- 13.4.5 SWOT Analysis
- 13.4.6 Key Developments
13.5 Kawasaki Heavy Industries Ltd
- 13.5.1 Key Facts
- 13.5.2 Business Description
- 13.5.3 Products and Services
- 13.5.4 Financial Overview
- 13.5.5 SWOT Analysis
- 13.5.6 Key Developments
13.6 Baker Hughes Co
- 13.6.1 Key Facts
- 13.6.2 Business Description
- 13.6.3 Products and Services
- 13.6.4 Financial Overview
- 13.6.5 SWOT Analysis
- 13.6.6 Key Developments
13.7 Capstone Green Energy Holdings, Inc.
- 13.7.1 Key Facts
- 13.7.2 Business Description
- 13.7.3 Products and Services
- 13.7.4 Financial Overview
- 13.7.5 SWOT Analysis
- 13.7.6 Key Developments
13.8 Industrial Boilers America
- 13.8.1 Key Facts
- 13.8.2 Business Description
- 13.8.3 Products and Services
- 13.8.4 Financial Overview
- 13.8.5 SWOT Analysis
- 13.8.6 Key Developments
13.9 Doncasters Group
- 13.9.1 Key Facts
- 13.9.2 Business Description
- 13.9.3 Products and Services
- 13.9.4 Financial Overview
- 13.9.5 SWOT Analysis
- 13.9.6 Key Developments
13.10 Vericor Power Systems
- 13.10.1 Key Facts
- 13.10.2 Business Description
- 13.10.3 Products and Services
- 13.10.4 Financial Overview
- 13.10.5 SWOT Analysis
- 13.10.6 Key Developments

14. Appendix

14.1 About The Insight Partners