Industrial Production Products & Services

Gas Turbines: Market Size, Growth & Forecast to 2030

The Gas Turbines market is valued at about $245 billion (2026) and is projected to grow at a 4.6% CAGR through 2030. The largest cost driver is Raw Materials and Superalloys (40% of spend). Asia Pacific leads demand at 35%.

Market size
$245.0 bn (2026)
CAGR to 2030
+4.6%
Buyer power
Favours buyers
Tracked suppliers
15
Projected market growth (index, 2026 = 100)
Base year 2026
Official data · Claight projectionForecast
Market size index, 2026 = 100, at the 4.6% CAGR.
Forecast
2026
2027
2028
2029
2030
2031
2026 base: 1002031 est: 125

Cost structure

Raw Materials and Superalloys
40%
Precision Engineering and Manufacturing Labor
25%
Research, Development and Engineering Design
15%
Thermal Barrier Coatings and Processing
10%
Testing, Logistics and Delivered Installation
10%

Regional demand split

Asia Pacific demand
35%
North America demand
25%
Middle East & Africa demand
20%
Europe demand
12%
Rest of world demand
8%

Key suppliers

GE VernovaSiemens EnergyMitsubishi Heavy IndustriesBaker HughesAnsaldo EnergiaSolar Turbines (Caterpillar)
Read the full Gas Turbines report →

Claight market analysis of proprietary and public data. Full report: /category-intelligence/gas-turbines