Global Gas Turbines In Thermal Power Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

By type, the market is divided into combined cycle and open cycle gas turbines. Combined cycle gas turbines (CCGT) are the preferred choice for large-scale power generation due to their superior efficiency and ability to utilize waste heat from the turbine exhaust to generate additional power through a steam turbine. This results in efficiency rates exceeding 60%, making CCGT plants ideal for base-load and intermediate-load power generation. Their widespread adoption in thermal power plants is driven by the need for sustainable energy solutions with lower carbon emissions. On the other hand, open cycle gas turbines (OCGT) operate without a secondary steam cycle, making them suitable for peaking power plants and backup power generation. While OCGT systems offer lower efficiency than CCGT systems, they provide rapid start-up times and operational flexibility, making them essential for emergency power supply and grid stabilization.

By capacity, the market is segmented into Less than 30 MW, 31-120 MW, and Greater than 120 MW gas turbines. Gas turbines with a capacity of less than 30 MW are primarily used in distributed power generation, cogeneration plants, and small-scale industrial applications where localized electricity supply and efficiency are critical. These turbines are also employed in remote power stations, backup power systems, and microgrids, particularly in regions with limited grid connectivity. The 31-120 MW segment represents medium-sized gas turbines commonly deployed in industrial power plants and utility-scale applications. This segment caters to industries requiring reliable and cost-effective power solutions, including the manufacturing, chemicals, and oil & gas sectors. Gas turbines with a capacity of greater than 120 MW are typically used in large-scale thermal power plants, where they serve as primary power generation units in base-load and combined cycle operations. These high-capacity gas turbines are favored by utilities and independent power producers (IPPs) for their ability to deliver large amounts of electricity efficiently while maintaining low emissions.

By end-user, the global gas turbines market serves various industries, including aerospace, marine, power, oil & gas, chemicals, industrial, and others. In the aerospace sector, gas turbines are used in jet engines for commercial and military aircraft, providing high power-to-weight ratios and fuel efficiency. The marine industry relies on gas turbines for propulsion in naval ships, cruise liners, and cargo vessels, where reliability and compact design are essential. In power generation, gas turbines are critical in thermal power plants for electricity production, offering efficiency and lower environmental impact compared to coal-fired plants. The oil & gas industry uses gas turbines for mechanical drive applications, including pipeline compression and offshore drilling operations. The chemical and industrial sectors deploy gas turbines for cogeneration and process heating, where energy efficiency and sustainability are top priorities.

Global Gas Turbines In Thermal Power Segment Analysis

In this report, the Global Gas Turbines In Thermal Power Market has been segmented by Types, Capacity, End-user, and Geography.

Global Gas Turbines In Thermal Power Market, Segmentation by Types

The Global Gas Turbines In Thermal Power Market has been segmented by Types into Combined Cycle and Open Cycle.

The global gas turbines in thermal power market is characterized by a variety of types, with combined cycle and open cycle being the primary segments. Combined cycle turbines are a significant part of the market, offering enhanced efficiency and performance compared to traditional open cycle turbines. These systems integrate both gas and steam turbines to generate electricity, making them highly efficient in utilizing fuel resources. Combined cycle plants typically achieve thermal efficiency levels of over 50%, making them a preferred choice for power generation in various industrial and utility applications.

Open cycle gas turbines, are simpler in design compared to combined cycle systems. They operate by compressing air, mixing it with fuel, and combusting the mixture to drive a turbine and generate electricity. While open cycle turbines are less efficient compared to combined cycle counterparts, they are often favored for their flexibility and quick start-up times. This makes them suitable for peaking power generation and providing support during periods of high electricity demand.

There has been a growing emphasis on enhancing the efficiency and reducing the environmental impact of gas turbine technology. Manufacturers are investing in research and development efforts to improve turbine design, increase operational efficiency, and reduce emissions. Additionally, advancements in materials science and manufacturing techniques are driving innovations in turbine components, leading to higher performance and durability.

Global Gas Turbines In Thermal Power Market, Segmentation by Capacity

The Global Gas Turbines In Thermal Power Market has been segmented by Capacity into Less than 30 MW, 31-120 MW and Greater than 120 MW.

One of the primary categories is gas turbines with a capacity of less than 30 MW. These turbines cater to smaller-scale power generation needs, often seen in distributed power generation systems or as backup power sources for industries, commercial establishments, or remote areas. Despite their smaller capacity, they play a crucial role in ensuring reliable power supply, especially in regions with intermittent grid connectivity or in industries where uninterrupted power is critical.

Gas turbines ranging from 31 to 120 MW constitute another important segment. This category caters to a broader range of applications, including industrial power plants, combined heat and power (CHP) systems, and utility-scale power generation facilities. Gas turbines within this range offer a balance between efficiency, flexibility, and cost-effectiveness, making them suitable for various industrial and utility applications. They often serve as prime movers in combined cycle power plants, where their exhaust heat is utilized to generate steam for additional power generation, enhancing overall plant efficiency.

The segment comprising gas turbines with a capacity greater than 120 MW represents the high-end of the market, primarily targeting large-scale utility power generation projects. These turbines are engineered for maximum efficiency, reliability, and performance to meet the demanding requirements of utility-scale power plants. They are commonly deployed in baseload power generation facilities, where they operate continuously to meet the constant electricity demand of regional grids. Additionally, advancements in technology have enabled these turbines to achieve higher efficiencies and lower emissions, aligning with global sustainability goals and regulatory standards.

Global Gas Turbines In Thermal Power Market, Segmentation by End-user

The Global Gas Turbines In Thermal Power Market has been segmented by End-user into Aerospace. Marine, Power, Oil& Gas, Chemicals, Industrial, and Others.

The aerospace sector is a key consumer of gas turbines, utilizing them primarily for aircraft propulsion systems. Gas turbines, particularly jet engines, are widely used in commercial, military, and cargo aircraft due to their high power-to-weight ratio, fuel efficiency, and reliability. With increasing global air travel and defense budgets, the demand for gas turbines in this sector continues to grow. Additionally, advancements in turbine technology, such as the development of next-generation fuel-efficient engines, are further propelling the market.

In the marine industry, gas turbines are extensively used for propulsion in naval vessels, cruise ships, and high-speed ferries. The primary advantage of gas turbines in marine applications is their capability to provide high power output with a compact design, making them ideal for military and commercial ships. Additionally, marine gas turbines offer better fuel efficiency and lower emissions compared to traditional diesel engines, aligning with global efforts to reduce maritime pollution. Governments worldwide are investing in modernizing naval fleets, further boosting demand for gas turbines in this segment.

Gas turbines play a crucial role in the power generation sector, particularly in thermal power plants. They are widely used for both base-load and peak-load power generation, as well as in combined-cycle power plants where they operate alongside steam turbines to improve overall efficiency. The increasing shift towards cleaner energy sources, such as natural gas, has accelerated the adoption of gas turbines as they produce lower emissions compared to coal-based power plants. Furthermore, ongoing innovations in gas turbine technology, including higher efficiency and integration with renewable energy sources, are making them more attractive for power producers worldwide.

The oil and gas industry relies on gas turbines for a variety of applications, including power generation, mechanical drive, and compressor stations. Gas turbines are widely used in upstream, midstream, and downstream operations due to their ability to provide reliable power in remote and offshore locations. The increasing global energy demand, coupled with the rising exploration and production activities in deep-water and shale reserves, has led to a growing need for efficient and robust gas turbine solutions. Additionally, the adoption of liquefied natural gas (LNG) and gas-to-power projects has further driven market growth in this segment.

In the chemical industry, gas turbines are used for power generation and cogeneration applications to meet the high energy demands of chemical processing plants. These turbines provide a stable power supply and contribute to energy efficiency by utilizing waste heat in cogeneration plants. As the demand for chemicals and petrochemicals grows, particularly in emerging economies, the adoption of gas turbines in this segment is expected to rise significantly.

Various industrial sectors, such as manufacturing, cement, and mining, use gas turbines for on-site power generation and mechanical drive applications. These industries require reliable and uninterrupted power supply, making gas turbines an ideal choice for maintaining operational efficiency. The industrial sector's ongoing expansion, especially in developing regions, is expected to drive the demand for gas turbines in this segment.

The "Others" segment includes diverse applications such as district heating, desalination plants, and commercial facilities requiring distributed power solutions. These applications benefit from the flexibility and efficiency of gas turbines, particularly in regions focusing on sustainable energy solutions and decentralized power generation.

Global Gas Turbines In Thermal Power Market, Segmentation by Geography

In this report, the Global Gas Turbines In Thermal Power Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East & Africa and Latin America.

Global Gas Turbines In Thermal Power Market Share (%), by Geographical Region, 2024

North America stands as a prominent hub, characterized by a mature market landscape and a strong emphasis on technological innovation. The region's robust infrastructure and stringent environmental regulations are propelling the adoption of gas turbines in thermal power generation. Additionally, North America's focus on renewable energy integration alongside traditional power sources is influencing market dynamics, fostering a competitive environment for gas turbine manufacturers.

In Europe, the gas turbines in thermal power market exhibit a similar trajectory, albeit with unique regional dynamics shaped by varying energy policies and economic landscapes. Countries like Germany and the United Kingdom are leading the charge in renewable energy deployment, yet the reliability and flexibility offered by gas turbines remain indispensable for balancing the grid and ensuring energy security. As a result, European market players are navigating a transition towards cleaner energy while leveraging gas turbines to maintain grid stability and meet peak demand efficiently.

The Asia Pacific region emerges as a powerhouse in the global gas turbines in thermal power market, fueled by rapid industrialization, urbanization, and increasing energy demand. Countries such as China, India, and Japan are investing heavily in expanding their power generation capacity, with gas turbines playing a pivotal role in meeting electricity needs while minimizing environmental impact. Moreover, technological advancements and government initiatives promoting cleaner energy solutions are driving the adoption of advanced gas turbine technologies across the region, further propelling market growth.

In the Middle East and Africa, the gas turbines in thermal power market witness a unique blend of opportunities and challenges. Rich in natural gas reserves and endowed with favorable climatic conditions for power generation, the region holds immense potential for gas turbine deployment. However, geopolitical uncertainties, regulatory frameworks, and infrastructure limitations pose significant hurdles to market expansion. Nevertheless, strategic partnerships, investments in infrastructure development, and a growing focus on diversifying energy portfolios are expected to bolster the demand for gas turbines in the region.

Latin America rounds out the geographical segmentation of the global gas turbines in thermal power market, characterized by a mix of economic developments, policy reforms, and environmental considerations. Countries like Brazil and Mexico are investing in modernizing their energy infrastructure, with gas turbines emerging as a reliable and efficient solution for meeting growing electricity demands. Moreover, the region's abundant natural gas resources and efforts to attract foreign investment in the energy sector are creating favorable conditions for market growth. Despite challenges related to political instability and regulatory uncertainties, Latin America presents lucrative opportunities for gas turbine manufacturers aiming to capitalize on the region's evolving energy landscape.

This report provides an in depth analysis of various factors that impact the dynamics of Global Gas Turbines In Thermal Power Market. These factors include; Market Drivers, Restraints and Opportunities Analysis.

Drivers

• Energy demand growth
• Technological advancements in turbines
• Increasing focus on clean energy

• Rising industrialization in emerging markets: The global gas turbines in thermal power market has witnessed significant growth, largely driven by the rising industrialization in emerging markets. Countries such as China, India, Brazil, and others are experiencing rapid industrial expansion, necessitating a robust energy infrastructure to support their growing needs. Gas turbines play a crucial role in thermal power generation due to their efficiency, reliability, and flexibility. Industries rely on these turbines to meet their electricity demands efficiently, especially during peak hours when power consumption is at its highest.

  The increasing focus on sustainable energy solutions has propelled the demand for gas turbines in thermal power plants. Governments and industries alike are seeking cleaner alternatives to traditional fossil fuel-based power generation methods. Gas turbines offer a relatively cleaner option compared to coal-fired power plants, emitting lower levels of pollutants such as carbon dioxide and sulfur dioxide. This environmental consciousness has spurred investments in gas turbine technology, driving innovation and efficiency improvements in the industry.

  Advancements in gas turbine technology have made them more cost-effective and versatile, further fueling their adoption in thermal power generation. Manufacturers are continuously developing new turbine designs with higher efficiency and lower emissions, catering to the evolving needs of the market. Additionally, the integration of digitalization and automation technologies has enhanced the performance and reliability of gas turbines, making them an attractive choice for power generation projects worldwide. As emerging markets continue to industrialize and modernize their energy infrastructure, the demand for gas turbines in thermal power generation is expected to remain strong, driving further growth in the global market.

Restraints

• Environmental concerns and regulations
• Fluctuating fuel prices
• High initial investment costs

• Competition from alternative energy sources: The global gas turbines in the thermal power market have long been a dominant force in electricity generation, prized for their efficiency, reliability, and scalability. However, in recent years, the landscape of energy generation has been rapidly evolving, with increasing competition from alternative sources such as wind, solar, and hydroelectric power. These alternative sources, driven by advancements in technology and growing environmental concerns, present a formidable challenge to traditional gas turbine-based thermal power plants.

  One of the primary factors driving the competition from alternative energy sources is the increasing focus on sustainability and reducing carbon emissions. Governments and regulatory bodies worldwide are implementing stricter environmental regulations, incentivizing the adoption of renewable energy sources through subsidies, tax breaks, and renewable energy targets. As a result, utilities and power companies are increasingly investing in wind and solar farms, which offer clean, renewable energy with minimal environmental impact compared to gas turbines.

  The declining costs of renewable energy technologies, particularly solar and wind, have made them increasingly cost-competitive with traditional gas turbines. The plummeting prices of solar panels and wind turbines, coupled with advancements in energy storage solutions, have significantly improved the economics of renewable energy projects, making them more attractive to investors and developers. As a result, gas turbine manufacturers and operators are facing growing pressure to adapt to this changing energy landscape by investing in research and development of cleaner, more efficient turbine technologies or by diversifying their portfolios to include renewable energy solutions. In summary, while gas turbines remain a vital component of the global energy mix, the increasing competition from alternative energy sources is driving innovation and reshaping the future of the thermal power market.

Opportunities

• Expansion in developing regions
• Retrofitting older power plants
• Integration with renewable energy sources

• Innovations in turbine efficiency: In recent years, the global gas turbines in the thermal power market have witnessed remarkable advancements in turbine efficiency, largely driven by innovations in design, materials, and operational strategies. One significant trend has been the development of advanced aerodynamics and combustion technologies, aimed at optimizing the flow of gases through the turbine and enhancing energy conversion efficiency. These innovations have led to the design of turbines with higher pressure ratios and improved cooling mechanisms, allowing for greater power output while maintaining lower fuel consumption and emissions.

  Manufacturers have been investing heavily in the integration of digitalization and predictive analytics into gas turbine operations. By harnessing the power of big data and machine learning algorithms, operators can now monitor turbine performance in real-time, identify potential issues before they escalate, and optimize maintenance schedules for maximum efficiency. This predictive maintenance approach not only minimizes downtime but also ensures that turbines operate at peak performance levels, further enhancing overall efficiency and reliability.

  Advancements in materials science have played a crucial role in improving turbine efficiency and durability. The development of high-temperature alloys and advanced coatings has enabled turbines to withstand harsh operating conditions, such as high temperatures and corrosive environments, without compromising performance. As a result, gas turbines can now operate at higher temperatures and pressures, leading to improved thermal efficiency and longer maintenance intervals. Overall, these innovations in turbine efficiency are driving significant improvements in the performance, reliability, and environmental sustainability of gas turbines in the global thermal power market.

Key players in Global Gas Turbines In Thermal Power Market include:

• General Electric Company
• Siemens AG
• Mitsubishi Hitachi Power Systems
• Ansaldo Energia
• Kawasaki Heavy Industries Ltd
• Bharat Heavy Electricals Limited
• Alstom Power
• Solar Turbines Incorporated
• Doosan Heavy Industries & Construction Co., Ltd
• Toshiba Energy Systems & Solutions Corporation

In this report, the profile of each market player provides following information:

• Company Overview and Product Portfolio
• Key Developments
• Financial Overview
• Strategies
• Company SWOT Analysis