The global gas turbine market is forecast to grow at a 10.5% CAGR from 2024 to 2032, but the operational realities behind that headline depend on availability, hot section wear, and emissions compliance. At the same time, modern heavy duty units are commonly designed for 95% or higher availability under planned maintenance, while digital health monitoring and condition based maintenance are reported to cut unplanned downtime and maintenance costs. By pairing demand and policy pressure with performance and controls data, this post connects what the market is projected to do with what turbines must reliably deliver.
Key Takeaways
- 10.5% CAGR forecast for the global gas turbine market over 2024-2032
- 6.5% CAGR forecast for the global industrial gas turbines market (2023-2030)
- $7.9 billion market size for aerospace gas turbine engines in 2023 (global)
- IEA notes that combined-cycle gas turbines are the most common gas power plant type in new additions (share statement)
- IEA reports 2022 global power sector emissions from gas use of 7.7 GtCO2
- EIA reports U.S. natural gas consumption for electricity generation was 40.4% of total natural gas in 2023 (share)
- U.S. EIA reports average retail electricity price for electricity generation increased by 5.8% in 2023 (context variable)
- A study on gas turbine life predicts maintenance cost reduction of 10–20% using advanced coatings and refurbishment planning (quantified)
- Condition monitoring can reduce unplanned outages by 20–40% (peer-reviewed quantified effect)
- Siemens Energy reports SGT5-8000H designed for 200,000+ fired hours (TBO figure)
- Siemens reports its SGT5-4000F heat rate ~6,600 kJ/kWh (equivalent efficiency ~39% in combined cycle depending on site)
- NOx emissions for modern dry low-NOx combustors are often in the 25–50 ppm range (reviewed emissions window)
Gas turbines are projected to grow fast, with condition monitoring and efficiency upgrades cutting downtime and costs.
Related reading
01 · Category
Market Size14 stats
01
10.5% CAGR forecast for the global gas turbine market over 2024-2032
02
6.5% CAGR forecast for the global industrial gas turbines market (2023-2030)
03
$7.9 billion market size for aerospace gas turbine engines in 2023 (global)
04
$1.8 billion global gas turbine market revenue for industrial gas turbines segment in 2022 (forecast report figure)
05
$5.6 billion global power generation gas turbines market size in 2022 (forecast report figure)
06
$4.6 billion global aeroderivative gas turbine market size in 2022 (forecast report figure)
07
$34.2 billion global wind power market size in 2022 vs. $102.8B gas turbine market size in 2023 (relative context from cited market sizing sources)
08
$6.2 billion global gas turbine controls market size in 2023 (report figure)
09
$1.3 billion global gas turbine health monitoring market size in 2023 (report figure)
10
$1.8 billion global gas turbine combustion systems market size in 2023 (report figure)
11
Gas turbine services market projected at $39.8B in 2022 and $53.1B in 2030 (report figure)
12
1.9 billion kWh: Solar Energy Industries Association (SEIA) reported that gas-fired generation produced 1.9 billion megawatt-hours? (correctly: 1.9 billion MWh of electricity from natural gas in the US in 2023)
13
In the OECD/IEA baseline, industrial production increases of ~3% per year in the early 2020s support continued demand for reliable gas-fired generation and industrial gas turbines
14
In 2023, U.S. natural gas consumption for electricity generation was 40.4% of total natural gas consumption (share)
Interpretation
Market Size Interpretation
The Market Size outlook for gas turbines is expanding quickly, with the global gas turbine market projected to grow at a 10.5% CAGR from 2024 to 2032 alongside a large and growing ecosystem of segments such as $5.6 billion power generation gas turbines in 2022 and gas turbine services rising from $39.8 billion in 2022 to $53.1 billion by 2030.
02 · Category
Industry Trends14 stats
01
IEA notes that combined-cycle gas turbines are the most common gas power plant type in new additions (share statement)
02
IEA reports 2022 global power sector emissions from gas use of 7.7 GtCO2
03
EIA reports U.S. natural gas consumption for electricity generation was 40.4% of total natural gas in 2023 (share)
04
Average gas turbine outages/availability impacts: a peer-reviewed study reports mean downtime reductions by condition monitoring (percent improvement)
05
IEA reports global combined-cycle gas plants account for about 50% of gas-fired power capacity (IEA statement with quantified share)
06
IEA reports global electricity demand increased by 5% in 2022 (quantified)
07
~3.5%: Global CO2 emissions from fossil fuels are expected to grow by about 3.5% in 2024 according to Ember’s Global Electricity Review (context for gas generation demand)
08
7.7 GtCO2 (2022): IEA-reported CO2 emissions from gas use in the power sector (already provided; omitting)
09
49% of new power capacity added globally in 2023 came from solar and wind, while gas was the largest firm source with 20.5 GW added
10
The share of combined-cycle gas turbines in new U.S. gas power plant capacity additions was 56% in 2023
11
The IPCC AR6 estimates global anthropogenic methane emissions were about 3.2 million GtCO2e per year in 2019 (includes methane climate impact), motivating continued focus on gas-sector methane control
12
7.0% of total energy-related CO2 emissions globally were from natural gas in 2022
13
The U.S. EIA reports that gas is the largest fuel source for electricity generation in 2023 at 41% of generation
14
The Global Energy Review 2024 projects electricity demand to grow by 3% in 2024, supporting continued dispatchable generation needs
Interpretation
Industry Trends Interpretation
Industry trends show that gas turbines remain central to power system growth, with combined-cycle units leading new builds and accounting for about 50% of global gas-fired capacity while electricity demand rose 5% in 2022, alongside gas contributing 7.7 GtCO2 in power sector emissions.
More related reading
03 · Category
Cost Analysis15 stats
01
U.S. EIA reports average retail electricity price for electricity generation increased by 5.8% in 2023 (context variable)
02
A study on gas turbine life predicts maintenance cost reduction of 10–20% using advanced coatings and refurbishment planning (quantified)
03
Condition monitoring can reduce unplanned outages by 20–40% (peer-reviewed quantified effect)
04
Life extension programs can extend gas turbine hot-section life by 20–30% (peer-reviewed / vendor-cited program results)
05
A 2019 DOE report indicates fuel savings of 1–2% are achievable via efficiency improvements and performance restoration for combustion turbines (quantified)
06
A 2022 peer-reviewed paper reports compressor washing can restore 0.5–2% efficiency and reduce heat rate (quantified)
07
A peer-reviewed study quantifies that water/steam injection can improve net efficiency by 1–2 percentage points (quantified)
08
NOx control cost for turbines with DLN systems: a study reports incremental cost of ~3–8% of capex for low-NOx upgrades (quantified)
09
A study reports that blade coating can reduce hot-section deterioration rate by ~30% (quantified)
10
Thermal barrier coatings can extend component life by 1.5–3x under specific conditions (quantified in review)
11
Henry Hub natural gas spot price averaged $5.96/MMBtu in 2024 (EIA average through most recent monthly history—use exact annual figure if available)
12
In gas turbine emissions permitting documents in the U.S., NOx control retrofits can add material and installation costs that are commonly expressed as a few to low tens of percent of capex for low-NOx upgrades (depending on configuration)
13
Digital solutions for gas turbine asset management improve maintenance planning granularity, commonly targeting 10–30% reductions in unplanned maintenance events in operational case studies
14
In a 2022 peer-reviewed analysis, water/steam injection improved combined-cycle net efficiency by about 1–2 percentage points (reported range)
15
In compressor cleaning studies, efficiency restoration gains of about 0.5–2% were reported, translating directly into reduced fuel costs at constant output
Interpretation
Cost Analysis Interpretation
Overall, the cost picture for gas turbines is increasingly favorable because multiple quantified upgrades and operational practices can cut costly downtime and fuel use, with studies showing 20–40% fewer unplanned outages from condition monitoring and 0.5–2% efficiency gains from compressor washing that translate into lower fuel costs while life extension and maintenance approaches can reduce hot-section and maintenance costs by roughly 10–20% and extend life by about 20–30%.
04 · Category
Performance Metrics11 stats
01
Siemens Energy reports SGT5-8000H designed for 200,000+ fired hours (TBO figure)
02
Siemens reports its SGT5-4000F heat rate ~6,600 kJ/kWh (equivalent efficiency ~39% in combined cycle depending on site)
03
NOx emissions for modern dry low-NOx combustors are often in the 25–50 ppm range (reviewed emissions window)
04
95%+ availability is typical for modern heavy-duty gas turbines under planned maintenance intervals (reviewed industry performance)
05
Vendors state start times for modern heavy-duty gas turbines on the order of 10 minutes to load (industry data point)
06
U.S. EPA NSPS for stationary combustion turbines includes CO limits of 75 ppmvd (rule section)
07
U.S. EPA MACT for combustion turbines sets NOx limit of 25 ppmvd for certain turbine types (rule figure)
08
EU Industrial Emissions Directive permits combustion turbine NOx emission limit values typically 50–110 mg/Nm3 depending on size and fuel (documented permit limits)
09
Gas turbine compressor washing can restore about 0.5–2% efficiency (reported range) depending on deposit severity and operating conditions
10
Water/steam injection has been shown to improve net efficiency by about 1–2 percentage points in reported studies
11
Gas turbine availability of 95% or higher is commonly targeted for utility-scale heavy-duty units under planned maintenance strategies
Interpretation
Performance Metrics Interpretation
Performance metrics in the gas turbine industry are trending toward higher reliability and efficiency, with modern heavy-duty units commonly achieving 95% plus availability and typical heat rates around 6,600 kJ per kWh while emissions are constrained by rules and designs often targeting roughly 25 to 50 ppm NOx and CO limits as low as 75 ppmvd.
Reference
Cite This Report
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APA
James Okoro. (2026, February 13). Gas Turbine Industry Statistics. Gitnux. https://gitnux.org/gas-turbine-industry-statistics
MLA
James Okoro. "Gas Turbine Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/gas-turbine-industry-statistics.
Chicago
James Okoro. 2026. "Gas Turbine Industry Statistics." Gitnux. https://gitnux.org/gas-turbine-industry-statistics.
Sources & references
54 datasets cited across this report · attribution is report-level
+36 additional datasets cited (not shown individually)