South Korea Gas Turbine Market Size & Outlook, 2023-2030
South Korea gas turbine market, 2018-2030 (US$M)
Related Markets
South Korea gas turbine market highlights
- The South Korea gas turbine market generated a revenue of USD 215.9 million in 2023 and is expected to reach USD 277.7 million by 2030.
- The South Korea market is expected to grow at a CAGR of 3.7% 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 215.9 million |
| Market revenue in 2030 | USD 277.7 million |
| Growth rate | 3.7% (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, South Korea accounted for 2.1% 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.
No credit card required*
Horizon in a snapshot
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
Gas Turbine Market Scope
Gas Turbine Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Korea 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 91.99% in 2023. Horizon Databook has segmented the South Korea gas turbine market based on open cycle, combined cycle covering the revenue growth of each sub-segment from 2018 to 2030.
The development of the gas turbine market in South Korea has been boosted by government initiatives and regulations promoting gas turbine coupled with strong market players investing in gas turbines.
South Korea has a significant gas turbine market, driven by industrial growth, increasing demand for energy, and the government's push toward cleaner and more efficient energy Sources Major players in the South Korean gas turbine market include Doosan Heavy Industries & Construction, Korea Electric Power Corporation (KEPCO), and Hyundai Heavy Industries, among others.
In addition, recent developments in the gas turbine market are expected to boost the growth. For instance, in March 2022, Doosan launched its 270 MW residential gas turbine using LNG at a combined heat and power station to be built in Gimpo, Seoul. The turbine is capable to power 250,000 houses.
Reasons to subscribe to South Korea gas turbine market databook:
-
Access to comprehensive data: Horizon Databook provides over 1 million market statistics and 20,000+ reports, offering extensive coverage across various industries and regions.
-
Informed decision making: Subscribers gain insights into market trends, customer preferences, and competitor strategies, empowering informed business decisions.
-
Cost-Effective solution: It's recognized as the world's most cost-effective market research database, offering high ROI through its vast repository of data and reports.
-
Customizable reports: Tailored reports and analytics allow companies to drill down into specific markets, demographics, or product segments, adapting to unique business needs.
-
Strategic advantage: By staying updated with the latest market intelligence, companies can stay ahead of competitors, anticipate industry shifts, and capitalize on emerging opportunities.
Target buyers of South Korea gas turbine market databook
-
Our clientele includes a mix of gas turbine market companies, investment firms, advisory firms & academic institutions.
-
30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
-
Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
-
The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the South Korea gas turbine market , including forecasts for subscribers. This country databook contains high-level insights into South Korea gas turbine market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
South Korea gas turbine market size, by technology, 2018-2030 (US$M)
South Korea Gas Turbine Market Outlook Share, 2023 & 2030 (US$M)
Related regional statistics
Sign up - it's easy, and free!
Sign up and get instant basic access to databook, upgrade
when ready, or enjoy our
free plan indefinitely.
Included in Horizon account
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
