Middle East & Africa Gas Turbine Market Size & Outlook
Middle East & Africa gas turbine market, 2018-2030 (US$M)
Related Markets
MEA gas turbine market highlights
- The MEA gas turbine market generated a revenue of USD 776.3 million in 2023.
- The market is expected to grow at a CAGR of 4.2% 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.
- Country-wise, Saudi Arabia is expected to register the highest CAGR from 2024 to 2030.
MEA data book summary
| Market revenue in 2023 | USD 776.3 million |
| Market revenue in 2030 | USD 1,037.3 million |
| Growth rate | 4.2% (CAGR from 2023 to 2030) |
| Largest segment | Combined cycle |
| Fastest growing segment | Combined Cycle |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 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, MEA region accounted for 7.6% of the global gas turbine market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- North America is the fastest growing regional market and is projected to reach USD 4,142.2 million by 2030.
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Gas Turbine Market Scope
Gas Turbine Market Companies
| Name | Profile | # Employees | HQ | Website |
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Middle East & Africa 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 86.37% in 2023. Horizon Databook has segmented the Middle East & Africa gas turbine market based on open cycle, combined cycle covering the revenue growth of each sub-segment from 2018 to 2030.
Supportive investments from authorities such as Dubai electricity and water authority (DEWA) for Mstation expansion project in the U.A.E. are expected to propel the demand for gas turbines over the forecast period. The development of floating liquefied natural gas facilities in Africa is expected to boost the demand for gas turbines over the next eight years. Major players such as Bakers Hughes have participated in the development of this project, which is anticipated to supply four turbo-generation units driven by >200 MW gas turbines. Joint ventures between key players, such as General Electric and Dussur, an industrial development company, for manufacturing gas turbines, are the major drivers aiding gas turbine market growth in this region. The aim of this joint venture was to diversify the oil-dependent economy and develop the industrial sector in Saudi Arabia. This is anticipated to boost the gas turbine market over the forecast period.
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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 continent-level data and insights on the Middle East & Africa gas turbine market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa gas turbine market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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MEA gas turbine market size, by country, 2018-2030 (US$M)
Middle East & Africa Gas Turbine Market Outlook Share, 2023 & 2030 (US$M)
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