North America Gas Turbine Market Size & Outlook, 2023-2030
North America gas turbine market, 2018-2030 (US$M)
Related Markets
North America gas turbine market highlights
- The North America gas turbine market generated a revenue of USD 2,848.5 million in 2023.
- The market is expected to grow at a CAGR of 5.5% 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, Canada is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 2,848.5 million |
| Market revenue in 2030 | USD 4,142.2 million |
| Growth rate | 5.5% (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, North America region accounted for 28.0% 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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North America 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 85.51% in 2023. Horizon Databook has segmented the North America gas turbine market based on open cycle, combined cycle covering the revenue growth of each sub-segment from 2018 to 2030.
The presence of prominent gas turbine OEMs and non-OEMs, proper infrastructure for electricity transmission, and sufficient shale gas reserves have emerged as the primary drivers for the North America gas turbine market. The U.S. accounted for the largest share in North America gas turbine market in 2022.
The country is expected to progress at the fastest rate over the forecast period owing to various factors such as the presence of shale gas reserves, proper infrastructure for gas turbines, and increasing government focus toward developing clean energy Sources.
Technological advancements in completion techniques, such as multistage hydraulic fracturing, and in drilling, such as horizontal wellbores, have enabled oil & gas companies to produce shale gas on a commercial scale.
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America gas turbine market , including forecasts for subscribers. This continent databook contains high-level insights into North America gas turbine market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America gas turbine market size, by country, 2018-2030 (US$M)
North America Gas Turbine Market Outlook Share, 2023 & 2030 (US$M)
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