In 2021, the world gas turbine market was USD 21,860 billion. This market is expected to grow at an average of 5.9% annual compound rate between 2023 and 2032.

The report will provide you with an analysis of the impact of recent market disruptions, like the war between Russia and Ukraine and Covid-19 on the market. The report gives a qualitative market analysis using different models like Porter and PESTLE analysis. The report includes detailed segmentation and size data by categories, product types, applications, and geographic regions. The report also provides a thorough analysis of the most important issues, trends, drivers, limitations, and obstacles, as well as the competitive landscape, as well as recent developments such as M&A events in the market.

A gas turbine, also called a combustible turbine, is a type of internal combustion engine. The turbine has an upstream rotating compressor which is connected to a downstream turbine as well as the combustion chamber is located between. Gas turbines power trains, aircraft, and ships, as well as electrical generators, pumps, as well as gas compressors.

Key Trends

Three main trends are evident in the technology of gas turbines more temperature, greater pressures, and faster speeds.

Pressures and temperatures that are higher allow to more efficient combustion and higher power output. The higher temperatures and pressures result in more efficient combustion which leads to more power production. The higher speeds allow smaller turbines to run at higher speeds and produce more power.

Key drivers

The gas turbine market is driven by the growing need for power, the increase in technology, as well as the need for cleaner energy sources. As the world's population and economy continue to grow as well, so does the demand for power. This has led to an increase in demand for electricity, which has resulted in a rise in demand for gas turbines.

Market Segmentation

The Gas Turbine market can be divided according to the technology, application, rated capacity geography, region, and. Based on the application the market is split into power generation, oil & gas, and others. The market can be divided into the open cycle or combined cycle, based on the technology used. The market is divided according to capacity ratings into the following categories: 1-40MW 40-120MW; 120-300MW and above 300 MW. By region, the market is classified into North America, Europe, Asia-Pacific, and the rest of the globe.

Key players

Ansaldo Energia is one of the key players in the world market for gas turbines.