Gas and Steam Turbine Market Overview (2025–2030)
The global Gas and Steam Turbine Market was valued at USD 31 billion in 2025 and is projected to reach USD 37.5 billion by 2030, expanding at a compound annual growth rate (CAGR) of 3.4% over the forecast period.
This report provides a comprehensive analysis of the global market, covering gas turbines by technology, capacity, and end user, and steam turbines by cycle, capacity, and application sector. It evaluates key technological advancements, competitive dynamics, regulatory influences, and macroeconomic trends shaping market growth. A dedicated patent analysis offers insights into innovation activity and competitive positioning across the industry.
The study includes an in-depth regional assessment of North America, Europe, Asia-Pacific, and the Rest of the World (South America, Middle East, and Africa), highlighting current demand drivers and future growth opportunities. The base year for the analysis is 2024, with 2025 as the estimated year, and market forecasts extending through 2030. All market values are presented in U.S. dollars (million).
Report Scope and Coverage
The report delivers:
- In-depth analysis of the global gas and steam turbine market
- Historical revenue data for 2024, estimates for 2025, and forecasts through 2030
- Market size and revenue growth estimates with market share analysis by:
- Type, technology, capacity, and cycle
- End user and application sector
- Geographic region
- Detailed evaluation of market drivers, restraints, opportunities, and challenges
- Assessment of technological innovation, regulatory frameworks, and sustainability trends
- Porter’s Five Forces analysis to examine competitive intensity
- Analysis of industry structure, including market shares, rankings, strategic initiatives, M&A activity, and venture funding trends
- Overview of ESG and sustainability developments, including ESG risk ratings and practices of leading companies
Key Market Drivers and Trends
- Rising global electricity demand
- Increased adoption of combined-cycle power plants
- Advancements in high-efficiency gas and steam turbine technologies
- Growing interest in ammonia-powered gas turbines and micro steam turbines
- Ongoing industrialization and infrastructure development, particularly in emerging economies
Emerging Technologies and Innovation
The report highlights notable technological developments, including:
- Advances in steam turbine efficiency and flexibility
- Development of micro steam turbines for decentralized power generation
- Progress in ammonia-fueled gas turbine systems
- Patent activity analysis identifying key innovators and technology leaders
Competitive Landscape
The competitive intelligence section examines:
- Market share and product positioning
- Strategic initiatives and contract activity
- Innovation pipelines and competitive strengths
Leading Companies Profiled
- Ansaldo Energia
- Baker Hughes Co.
- Doosan Enerbility
- Fuji Electric Co. Ltd.
- GE Vernova
- Kawasaki Heavy Industries Ltd.
- Mitsubishi Heavy Industries Ltd.
- Shanghai Electric
- Siemens Energy
- Toshiba America Energy Systems Corp.
Key Report Attributes
- Pages: 140
- Forecast Period: 2025–2030
- Estimated Market Value (2025): USD 31 Billion
- Forecasted Market Value (2030): USD 37.5 Billion
- CAGR: 3.4%
- Regions Covered: Global
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