South Africa Gas Turbine Market Size & Outlook, 2023-2030
South Africa gas turbine market, 2018-2030 (US$M)
Related Markets
South Africa gas turbine market highlights
- The South Africa gas turbine market generated a revenue of USD 18.7 million in 2023 and is expected to reach USD 19.8 million by 2030.
- The South Africa market is expected to grow at a CAGR of 0.8% 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 18.7 million |
| Market revenue in 2030 | USD 19.8 million |
| Growth rate | 0.8% (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, South Africa accounted for 0.2% 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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South 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 94.65% in 2023. Horizon Databook has segmented the South Africa 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 South Africa is expected to grow due to several factors, including the country's ongoing efforts to diversify its energy mix, the need for flexible and reliable power generation, and the increasing demand for electricity in the region. The government is promoting the growth of its mining sector. The mining industry is a significant contributor to the country's economy and has a high demand for electricity. Gas turbines can provide an effective solution for meeting the energy needs of the mining industry, which can provide an opportunity for gas turbine manufacturers.
South Africa is committed to reducing its dependence on coal-fired power generation and increasing the adoption of renewable energy sources. The country has set a target of adding 18 GW of renewable energy capacity to its grid by 2030, which will require the integration of energy storage technologies with gas-fired power generation systems. Gas turbines can provide ancillary services to the grid, such as frequency regulation and spinning reserves, which are crucial for the integration of large-scale renewable energy systems. This provides an opportunity for gas turbine manufacturers to tap into the growing demand for renewable energy in the country.
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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 country-level data and insights on the South Africa gas turbine market , including forecasts for subscribers. This country databook contains high-level insights into South Africa gas turbine market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Africa gas turbine market size, by technology, 2018-2030 (US$M)
South Africa Gas Turbine Market Outlook Share, 2023 & 2030 (US$M)
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