+1-786-628-7980
Sign Up/Sign In 
The latest report by IMARC Group, titled “Gas Turbine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the global gas turbine market share. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
The global gas turbine market size reached US$ 24.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 32.5 Billion by 2028, exhibiting a growth rate (CAGR) of 3.7% during 2023-2028.
A gas turbine refers to internal combustion (IC) engine that uses a high-pressure gas stream to turn a turbine and produce mechanical power. It is designed to use various fuels, such as natural gas, diesel, and biofuels. It works via an upstream rotating compressor, a downstream turbine, and a combustion chamber that compresses the atmospheric air. It offers a high power-to-weight ratio, low operational cost, lesser pollutants, and more compact sizes as compared to other alternatives. It is utilized for powering heavy machinery, such as aircraft, ships, trains, electrical generators, pumps, and tanks. It is also used as a backup power source during power outages or other emergency situations.
Request Free Sample Report: https://www.imarcgroup.com/gas-turbine-market/requestsample
Global Gas Turbine Market Trends:
The surging electricity consumption and power generation around the world represent one of the major factors driving the demand for gas turbines to minimize instances of power failures. Moreover, rapid urbanization, expanding global population, and rising investments in the development of smart cities by governing agencies of numerous countries are increasing the application of gas turbines in industrial, commercial, and residential areas. In addition, the growing adoption of heating, ventilating, and air conditioning (HVAC) systems is influencing the market positively.
Apart from this, gas turbines are employed in the aerospace industry to power aircraft engines and maintain high power output at high altitudes and ensure the safety of passengers and crew. This, coupled with the increasing number of air passengers worldwide and the rising focus on improving the safety and performance of aircraft, is propelling the growth of the market. Furthermore, the growing number of offshore and onshore exploratory activities for conventional and non-conventional energy resources and considerable growth in the oil and gas industry are creating a positive outlook for the market.
By the IMARC Group, Some of the Top Gas Turbine Manufacturers Operating in the Market are Given Below:
Explore the Full Report with Charts, Table of Contents, and List of Figures: https://www.imarcgroup.com/gas-turbine-market
Key Market Segmentation:
Breakup by Rated Capacity:
Breakup by Technology:
Breakup by Design Type:
Breakup by End-User:
Breakup by Region:
Key highlights of the Report:
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic, and technological developments for business leaders in pharmaceutical, industrial, and high-technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology, and novel processing methods are at the top of the company’s expertise.
