Japan Gas Turbine Market Size & Outlook, 2023-2030
Japan gas turbine market, 2018-2030 (US$M)
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Japan gas turbine market highlights
- The Japan gas turbine market generated a revenue of USD 813.6 million in 2023 and is expected to reach USD 1,242.4 million by 2030.
- The Japan market is expected to grow at a CAGR of 6.2% 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 813.6 million |
| Market revenue in 2030 | USD 1,242.4 million |
| Growth rate | 6.2% (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, Japan accounted for 8.0% 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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Japan 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 90.88% in 2023. Horizon Databook has segmented the Japan gas turbine market based on open cycle, combined cycle covering the revenue growth of each sub-segment from 2018 to 2030.
Japan is an importer of natural gas and its gas turbine installation projections are witnessing a steady rise. However, with Japan’s unpredicted fall in the economic indexes, it is currently revamping its energy security strategy. Even though Japan has claimed to be heading toward clean energy economy, a significant number of thermal-based power generation plants are still being proposed, which would be implemented before 2025.
Japan’s strong nuclear energy program, which was halted post the Fukushima disaster is currently gaining momentum with a few nuclear plants resuming operations. If Japan continues to have a strong reliance on steam turbines, the gas turbine market may weaken during the forecast period. However, a number of gas-based power plants are under pipeline and development stage in the country.
Further, stringent regulations with respect to reducing the country’s reliance on nuclear power generation is anticipated to create a new pathway for gas turbine providers over the forecast period. For instance, in August 2022, the Japanese Ministry of Economy, Trade and Industry (METI) announced to develop next-generation nuclear power plants with plans to commercialize them by 2030.
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Our clientele includes a mix of gas turbine market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the Japan gas turbine market , including forecasts for subscribers. This country databook contains high-level insights into Japan gas turbine market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Japan gas turbine market size, by technology, 2018-2030 (US$M)
Japan Gas Turbine Market Outlook Share, 2023 & 2030 (US$M)
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