Market revenue in 2023 | USD 399.4 million |
Market revenue in 2030 | USD 670.8 million |
Growth rate | 7.7% (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 |
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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 89.38% in 2023. Horizon Databook has segmented the Canada 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 Canada is expected to grow due to several factors, including the country's abundant natural gas reserves and the growing demand for distributed power generation. Canada's push toward reducing greenhouse gas emissions is driving the demand for cleaner energy sources, such as natural gas-fired combined cycle power plants that incorporate gas turbines.
Many companies in the country are looking to develop gas turbines that work with other forms of technology such as hydrogen, biofuels, or geothermal to supplement natural gas, reduce carbon emissions, and increase the efficiency of the plant.
Horizon Databook provides a detailed overview of country-level data and insights on the Canada gas turbine market , including forecasts for subscribers. This country databook contains high-level insights into Canada gas turbine market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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