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Process Plants Gas Turbine Market Revenue Outlook: What CAGR Is Expected Through 2030?
The process plants gas turbine market has demonstrated strong expansion in recent years. It is projected to grow from $2.36 billion in 2025 to $2.52 billion in 2026, achieving a compound annual growth rate (CAGR) of 6.5%. This historical growth can be attributed to the proliferation of industrial process plants, an increase in captive power generation, the broader adoption of gas-based power systems, the availability of robust heavy-duty turbine technology, and a rising need for dependable on-site power.
The process plants gas turbine market size is anticipated to experience robust expansion over the coming years, projected to reach $3.28 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.9%. This growth throughout the forecast period is attributable to the increasing embrace of low-emission turbine technologies, rising investments in industrial energy efficiency, the proliferation of hybrid power generation systems, the expanding utilization of digital predictive maintenance, and a greater emphasis on fuel flexibility. Significant trends for this period encompass the escalating deployment of high-efficiency combined cycle turbines, the growing adoption of digital turbine monitoring systems, an increasing demand for flexible fuel gas turbines, the expansion of modular gas turbine installations, and an enhanced focus on operational reliability.
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Process Plants Gas Turbine Market Opportunity Drivers: What Is Creating New Revenue Potential?
The expansion of infrastructure is set to drive the growth of the process plants gas turbine market in the future. Infrastructure development encompasses the building and upgrading of vital physical facilities and systems that underpin industrial activities and economic growth. This increase in infrastructure projects stems from federal policy initiatives and supportive financing conditions, as reduced interest rates lower the cost of project funding, encouraging both governmental and private investments in construction. The proliferation of infrastructure projects boosts the need for gas turbines, which are indispensable for delivering consistent power generation and mechanical drive capabilities in newly established process plants and industrial complexes. For example, the U.S. Energy Information Administration (EIA), a US-based federal agency, indicated in June 2025 that developers intend to integrate 18.7 gigawatts (GW) of combined-cycle capacity into the grid by 2028, with 4.3 GW already being built. Thus, the escalating infrastructure development is propelling the expansion of the process plants gas turbine market.
Process Plants Gas Turbine Market Segment Performance And Strategic Opportunities
The process plants gas turbine market covered in this report is segmented –
1) By Type: Aero-Derivative Gas Turbines, Heavy-Duty Gas Turbines
2) By Fuel Type: Natural Gas, Distillate Liquid, Dual Fuel
3) By Technology: Open Cycle, Combined Cycle
4) By Capacity: 1 Megawatt (MW) To 30 Megawatt (MW), Above 30 Megawatt (MW)
5) By Application: Oil And Gas, Chemicals And Petrochemicals, Water And Wastewater Treatment, Metals And Mining, Pulp And Paper
Subsegments:
1) By Aero-Derivative Gas Turbines: Single-Shaft Gas Turbines, Two-Shaft Gas Turbines, Industrial Gas Turbines
2) By Heavy-Duty Gas Turbines: Frame Gas Turbines, Industrial Gas Turbines, Combined Cycle Gas Turbines, Simple Cycle Gas Turbines
Process Plants Gas Turbine Market Innovation Trends: Which Developments Are Transforming The Industry?
Major companies operating in the process plants gas turbine market are concentrating on developing advanced offerings, specifically domestic gas turbines that include digital integration, to enhance efficiency, diminish emissions, and increase reliability. These domestic gas turbines with digital integration are defined as gas turbines produced locally and fitted with digital monitoring and control systems to improve their efficiency, dependability, and ease of maintenance. For example, in October 2024, Technopromexport, a subsidiary of the Russia-based power infrastructure company Rostec, inaugurated the third generating unit at the Udarnaya thermal power plant located in Krasnodar Krai, which features the GTD-110M turbine. This particular unit achieved a maximum power output of 115 MW and underwent rigorous verification, including 72 hours of uninterrupted operation at full load, confirming its reliability and smooth integration into Russia’s Unified Energy System. The design of this domestic gas turbine prioritizes fuel efficiency, a compact footprint, and a lighter build compared to international alternatives, while also incorporating cutting-edge digital technologies such as additive manufacturing for vital components like swirlers in the low-emission combustion chamber.
Process Plants Gas Turbine Market Key Players: Which Companies Shape Industry Competition?
Major companies operating in the process plants gas turbine market are Siemens Energy Aktiengesellschaft, General Electric 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 Co., Ltd., Bharat Heavy Electricals Limited, Centrax Gas Turbines Ltd., Capstone Green Energy Holdings, Inc., OPRA Turbines B.V., Vericor Power Systems LLC, Enerflex Ltd., Flex Energy Solutions, Inc., Hanwha Power Systems Co., Ltd.
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Process Plants Gas Turbine Market Regional Outlook: Where Are The Largest Opportunities Located?
Asia-Pacific was the largest region in the process plants gas turbine market in 2025. 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, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Wasay has over a decade of experience in market research, data modelling, and analytics, with prior experience at GlobalData and Decision Tree Consulting Services. At The Business Research Company , he leads research operations across syndicated studies, customized consulting engagements, and the Global Market Model platform. His professional experience includes supporting organizations such as Boston Consulting Group, KPMG, and Ernst & Young. Wasay holds a degree in Electronics and Communications Engineering, postgraduate management qualifications from International Management Institute Belgium and Indian School of Business and Entrepreneurship, and completed the Integrated Program in Business Analytics from Indian Institute of Management Indore.