Process Plants Gas Turbine Global Market Report 2025

The process plants gas turbine market size has grown strongly in recent years. It will grow from $2.22 billion in 2024 to $2.36 billion in 2025 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period is driven by increasing electricity demand in emerging economies, expansion of industrial infrastructure, government incentives promoting energy efficiency, growth in oil and gas exploration and production, and rising adoption of combined cycle power plants.

The process plants gas turbine market size is expected to see strong growth in the next few years. It will grow to $3.07 billion in 2029 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be connected to a shift toward renewable and low emission energy integration, rising focus on hydrogen and biofuel compatible turbines, advancements in high efficiency and smart turbines, increasing investment in industrial cogeneration, and growing demand for decentralized and distributed power generation. Major trends in the forecast period include digital twin technology adoption, advanced materials for higher efficiency, integration of AI based predictive maintenance, hybrid and low emission turbine designs, and enhanced combined cycle performance optimization.

The growing infrastructure development is expected to support the growth of the process plants gas turbine market going forward. Infrastructure development refers to the construction and improvement of essential physical facilities and systems that enable industrial operations and economic activities. The increase in infrastructure development is influenced by federal policy initiatives and favorable financing conditions, as lower interest rates reduce project financing costs and encourage both public and private sector investments in construction projects. The expansion of infrastructure projects increases the demand for gas turbines, as these systems are vital for providing reliable power generation and mechanical drive applications in newly established process plants and industrial facilities. For instance, in June 2025, according to the United States Energy Information Administration, a federal agency, developers plan to add 18.7 gigawatts of combined-cycle capacity to the grid by 2028, with 4.3 gigawatts already under construction. Therefore, the growing infrastructure development is supporting the growth of the process plants gas turbine market.

Key players in the process plants gas turbine market are prioritizing the development of advanced technologies, such as domestic gas turbines with digital integration, to enhance efficiency, minimize emissions, and improve operational reliability. Domestic gas turbines with digital integration refer to locally manufactured turbines embedded with intelligent monitoring and control systems that optimize performance, maintenance, and energy output. For example, in October 2024, Technopromexport, a subsidiary of Rostec, a Russia-based power infrastructure enterprise, commissioned the third generating unit at the Udarnaya thermal power plant in Krasnodar Krai, featuring the GTD-110M turbine. The unit achieved a peak power output of 115 MW and successfully completed extensive testing, including 72 hours of continuous full-load operation, confirming its reliability and seamless integration into Russia’s Unified Energy System. The domestic turbine’s design prioritizes high fuel efficiency, reduced weight, and compact dimensions compared to imported alternatives, while leveraging advanced digital technologies such as additive manufacturing for key components like swirlers within the low-emission combustion chamber.

In March 2025, GE Vernova Inc., a US-based electric services company, acquired Woodward Inc. for an undisclosed amount. Through this acquisition, GE Vernova Inc. aims to enhance its domestic gas turbine manufacturing capabilities, expand its supply chain network, and address the increasing global demand for reliable energy solutions. Woodward Inc. is a US-based company that provides advanced control solutions for gas turbines used in power generation, oil, and gas applications.

Major players operating in the process plants gas turbine market are Siemens Energy AG, GE Vernova, Inc., MITSUBISHI ELECTRIC CORPORATION, Caterpillar Inc. (Turbomach S.A.), Baker Hughes Company, Rolls-Royce Holdings plc, MAN Energy Solutions, IHI Corporation, Kawasaki Heavy Industries Ltd., Wärtsilä Oyj Abp, Doosan Group, Harbin Electric Company Limited, Shanghai Electric Group Company Limited, Nanjing Turbine & Electric Machinery, Bharat Heavy Electricals Limited, Centrax Gas Turbines Ltd., Capstone Green Energy Holdings, Inc., OPRA Turbines B.V., Vericor Power Systems LLC, Enerflex Ltd., EthosEnergy Group, Cryostar SAS, Destinus Energy, Liburdi Turbine Services Inc., Flex Energy Solutions, Hanwha Power Systems Co., Ltd.

Asia-Pacific was the largest region in the process plants gas turbine market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the process plants gas turbine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

The swift increase in U.S. tariffs and the ensuing trade tensions in spring 2025 are significantly affecting the machinery sector by increasing costs for steel, hydraulic systems, and precision bearings critical components often imported from tariff-affected regions. Manufacturers of construction, agricultural, and industrial machinery now face squeezed margins, as many long-term contracts prevent immediate price adjustments. The uncertainty has also delayed investment in automation and smart machinery technologies, slowing productivity gains. To adapt, firms are accelerating local supplier development, redesigning products to use alternative materials, and leveraging predictive maintenance to extend equipment lifespans amid higher replacement costs.

The process plants gas turbine market research report is one of a series of new reports that provides process plants gas turbine market statistics, including process plants gas turbine industry global market size, regional shares, competitors with a process plants gas turbine market share, detailed process plants gas turbine market segments, market trends and opportunities, and any further data you may need to thrive in the process plants gas turbine industry. This process plants gas turbine market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

A process plants gas turbine is a combustion engine that transforms fuel into mechanical energy to generate electricity and support industrial operations. It operates by compressing air, mixing it with fuel, and igniting the mixture to produce high-energy gases that drive the turbine. These turbines play a crucial role in ensuring efficient and reliable power generation within process plant environments.

The key types of process plants gas turbines include aero-derivative gas turbines and heavy-duty gas turbines. Aero-derivative gas turbines are lightweight, high-speed units derived from aircraft engines, providing flexible and fast-start power solutions for various industrial applications. The turbines utilize different fuel types, including natural gas, distillate liquid, and dual fuel, and operate using technologies such as open cycle and combined cycle. They are available in several capacity ranges, including less than 50 kilowatts, 50 kilowatts to 500 kilowatts, 500 kilowatts to 1 megawatt, 1 megawatt to 30 megawatts, and above 30 megawatts, and are used across multiple sectors such as oil and gas, chemicals and petrochemicals, power generation, water and wastewater treatment, metals and mining, and pulp and paper.

The countries covered in the process plants gas turbine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The process plants gas turbine market consists of revenues earned by entities by providing services such as installation, training, fuel management, remote monitoring, emission control, and efficiency auditing. The market value includes the value of related goods sold by the service provider or included within the service offering. The process plants gas turbine market consists of sales of auxiliary equipment, control systems, filters, compressors, combustion chambers, cooling systems, and exhaust systems. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

This product will be delivered within 3-5 business days.