Global gas turbine (equipment-only) sales of $47.8 billion expected through 2025. Gas turbine market size to grow at a CAGR of 6.2% from 2023-2030 (forecast period). Several factors contributing to market growth; rapid industrialization, urbanization, and rapid economic expansion are the primary factors driving the market growth. The worldwide gas turbine market is expected to increase significantly in the future years as a result of tough emission standards for gas turbines and the shale gas production boom.
According to the EIA estimate, the share of natural gas would rise from 34% to 39% from 2018 to 2050 due to increased drilling activity. Increased natural gas output leads to lower natural gas prices, which results in a higher share of power generated by natural gas, increasing the expansion of the gas turbines industry.
Here is top 10 gas turbine manufacturers in the world that will compete to grab the market growth:
1. General Electric Co. (GE)
GE is one among world biggest gas turbine manufacturer in the world. The US company provides a wide range of heavy-duty, industrial, and aeroderivative gas turbines ranging up to 593,233 MW
2. Siemens Energy Inc.
Siemens Energy, a Germany company, is also prominent gas turbine manufacturers in the world. The company provides a wide range of heavy-duty, industrial, and aeroderivative gas turbines ranging up to 567 MW
3. Mitsubishi Heavy Industries Ltd. (MHI)
MHI, a Japan multinasional, is one of the world’s leading industrial groups produce a wide range of gas turbines, including aero-derivative and heavy-duty gas turbine systems, generators, boilers, steam turbines, air quality control systems, gas engines, reactors, water treatment, wastewater treatment, and process system solutions, among others
4. Ansaldo Energia SpA
Ansaldo Energia is a main player in Europe in gas turbine manufacturer in the world. The company provides a wide range of heavy-duty, industrial, and aeroderivative gas turbines ranging up to 400 MW
5. MAPNA Group
MAPNA Group is a fast growing gas turbine manufacturer in the world, provides a wide range of heavy-duty, industrial, and aeroderivative gas turbines ranging up to 260 MW
6. Solar Turbines
Solar Turbines is a leading gas turbine manufacturer in the world. The company provides a wide range of heavy-duty, industrial, and aeroderivative gas turbines ranging up to 30 MW
7. Kawasaki Heavy Industries
Kawasaki Heavy Industries, a Japan big group, also one among top player in the world in gas turbine manufacturig. The company provides a wide range of heavy-duty, industrial, and aeroderivative gas turbines ranging up to 100 MW
8. Centrax Gas Turbines
Centrax Gas Turbines, is a gas turbine manufacturer that provides a wide range of heavy-duty, industrial, and aeroderivative gas turbines ranging up to 15 MW
9. Williams International
Williams International is a well establishded gas turbine manufacturer in the world. The company provides a wide range of heavy-duty, industrial, and aeroderivative gas turbines ranging up to 10 MW
10. Bradken, Inc. (Engineered Products Business)
Bradken, Inc. is a fast growing steam turbine manufacturer in the world, provides a wide range of steam turbines ranging up to 1,000 MW