Australia Gas Turbine Market Size & Outlook, 2023-2030
Australia gas turbine market, 2018-2030 (US$M)
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Australia gas turbine market highlights
- The Australia gas turbine market generated a revenue of USD 38.1 million in 2023 and is expected to reach USD 56.2 million by 2030.
- The Australia market is expected to grow at a CAGR of 5.7% from 2024 to 2030.
- In terms of segment, combined cycle was the largest revenue generating technology in 2023.
- Combined Cycle is the most lucrative technology segment registering the fastest growth during the forecast period.
Gas turbine market data book summary
| Market revenue in 2023 | USD 38.1 million |
| Market revenue in 2030 | USD 56.2 million |
| Growth rate | 5.7% (CAGR from 2023 to 2030) |
| Largest segment | Combined cycle |
| Fastest growing segment | Combined Cycle |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Open Cycle, Combined Cycle |
| Key market players worldwide | Ansaldo Energia, GE Aerospace, Kawasaki Heavy Industries Ltd, ManpowerGroup Inc, Mitsubishi Corp, Opera Ltd ADR, Siemens AG, Caterpillar Inc |
Other key industry trends
- In terms of revenue, Australia accounted for 0.4% of the global gas turbine market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China gas turbine market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 191.8 million by 2030.
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Gas Turbine Market Scope
Gas Turbine Market Companies
| Name | Profile | # Employees | HQ | Website |
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Australia gas turbine market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to gas turbine market will help companies and investors design strategic landscapes.
Combined cycle was the largest segment with a revenue share of 95.01% in 2023. Horizon Databook has segmented the Australia gas turbine market based on open cycle, combined cycle covering the revenue growth of each sub-segment from 2018 to 2030.
The gas turbine market in Australia is projected to grow in the coming years due to increasing demand for electricity and the need for more reliable and efficient power generation. The development of natural gas reserves in Australia has also been a driving factor in the growth of the gas turbine market.The major players in the Australian gas turbine market include General Electric, Siemens, Mitsubishi Hitachi Power Systems, and Ansaldo Energia. These companies provide a range of gas turbine products and services, from small-scale turbines for use in decentralized power generation to large-scale turbines for utility-scale power plants.
There has also been a growing trend toward the use of renewable energy Sources in Australia, such as solar and wind power, which has put pressure on gas turbine manufacturers to develop more efficient and eco-friendly products. As a result, many companies are investing in research and development to create new gas turbine technologies that are more efficient and produce fewer emissions. In addition, modernization of old gas power plants to advanced technology is also driving the market growth. For instance, in March 2023, GE announced to provide its new high-efficiency GT26 gas turbine for the modernization of EnergyAustralia’s Tallawarra A power plant. The project is expected to be commissioned by 2024.
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Our clientele includes a mix of gas turbine market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the Australia gas turbine market , including forecasts for subscribers. This country databook contains high-level insights into Australia gas turbine market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Australia gas turbine market size, by technology, 2018-2030 (US$M)
Australia Gas Turbine Market Outlook Share, 2023 & 2030 (US$M)
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