U.S. Gas Turbine Market Size & Outlook, 2023-2030
U.S. gas turbine market, 2018-2030 (US$M)
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U.S. gas turbine market highlights
- The U.S. gas turbine market generated a revenue of USD 2,274.0 million in 2023 and is expected to reach USD 3,260.4 million by 2030.
- The U.S. market is expected to grow at a CAGR of 5.3% 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 2,274.0 million |
| Market revenue in 2030 | USD 3,260.4 million |
| Growth rate | 5.3% (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, U.S. accounted for 22.3% 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 North America, U.S. gas turbine market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 670.8 million by 2030.
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Gas Turbine Market Scope
Gas Turbine Market Companies
| Name | Profile | # Employees | HQ | Website |
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U.S. 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 84.29% in 2023. Horizon Databook has segmented the U.S. gas turbine market based on open cycle, combined cycle covering the revenue growth of each sub-segment from 2018 to 2030.
The U.S. emerged as the largest gas turbine market in North America in 2022. The U.S. has a well developed natural gas infrastructure characterized by the presence of established end-use industries, which are the major demand drivers for the gas turbine market in the country.
The plant will cost USD 3 billion and will have carbon capture technology to reduce carbon emissions and their environmental impact. Key companies such as General Electric, Mitsubishi Power, Ltd., and Siemens AG are extensively focusing on improving technology upgrades to increase their turbine efficiency.
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Horizon Databook provides a detailed overview of country-level data and insights on the U.S. gas turbine market , including forecasts for subscribers. This country databook contains high-level insights into U.S. gas turbine market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. gas turbine market size, by technology, 2018-2030 (US$M)
U.S. Gas Turbine Market Outlook Share, 2023 & 2030 (US$M)
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