Saudi Arabia Gas Turbine Market Size & Outlook, 2023-2030
Saudi Arabia gas turbine market, 2018-2030 (US$M)
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Saudi Arabia gas turbine market highlights
- The Saudi Arabia gas turbine market generated a revenue of USD 105.8 million in 2023 and is expected to reach USD 155.8 million by 2030.
- The Saudi Arabia 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 105.8 million |
| Market revenue in 2030 | USD 155.8 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, Saudi Arabia accounted for 1.0% 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 Middle East & Africa, Saudi Arabia gas turbine market is projected to lead the regional market in terms of revenue in 2030.
- Saudi Arabia is the fastest growing regional market in Middle East & Africa and is projected to reach USD 155.8 million by 2030.
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Gas Turbine Market Scope
Gas Turbine Market Companies
| Name | Profile | # Employees | HQ | Website |
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Saudi Arabia 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 94.99% in 2023. Horizon Databook has segmented the Saudi Arabia gas turbine market based on open cycle, combined cycle covering the revenue growth of each sub-segment from 2018 to 2030.
Saudi Arabia is an oil-based economy and accounts for more than 18% of the petroleum reserves globally. The growing oil & gas industry in this region is one of the factors driving the gas turbine market.
Saudi Arabia is the second-largest producer of oil and a leading exporter of the same. The abundance of resources has encouraged many private companies involved in energy businesses to establish natural gas-based electricity generation plants.
Major OEMs such as Siemens Energy, General Electric, and Mitsubishi Power, Ltd. are a few major providers of gas turbines. Some of the major gas turbine manufacturers have plans to set up their manufacturing facilities in the country in accordance with Vision 2030 launched by the government.
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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 Saudi Arabia gas turbine market , including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia gas turbine market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Saudi Arabia gas turbine market size, by technology, 2018-2030 (US$M)
Saudi Arabia Gas Turbine Market Outlook Share, 2023 & 2030 (US$M)
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