Process Plants Gas Turbine Market Size & Share 2025 – 2034

Process Plants Gas Turbine Market Size

The global process plants gas turbine market size was valued at USD 2.3 billion in 2024 and is expected to reach USD 4.1 billion by 2034, growing at a CAGR of 5.7% from 2025 to 2034. Process plants are increasingly adopting gas turbines for on-site generation to reduce dependency on unstable grids, particularly in regions with frequency power interruptions will drive industry growth.

Growing adoption of these turbines in captive power plants to maintain process integrity and prevent costly production downtimes, which will proliferate the demand for gas turbine. These units are commonly utilized in CHP systems providing steam and electricity simultaneously increasing overall plant efficiency, further driving process plants gas turbine market prospects.
 

For reference, in 2024, Canada launched a transformative USD 358 million initiative to modernize and expand its natural gas infrastructure. Designed to meet rising energy demands driven by industrial development. In addition, the project is expected to unveil USD 4.5 billion in investment positioning the country for enhanced energy resilience and long-term economic growth.
 

Rising demand for modular and compact turbine packages are being adopted by small and mid-sized process plants that prefer rapid installation and reduce civil work, thereby fostering business expansion. Additionally, these turbines are gaining significant momentum owing to increasing need for temporary, mobile, or remote process operations including pipeline compression or chemical plants.
 

These turbines are being integrated into process flows for direct mechanical drive or heat application particularly in industries including petrochemical, glass, and cement, thereby propelling business growth. Moreover, these integrations allow heat from turbine exhaust to be used directly for calcining, drying, and steam cracking processes.
 

For citation, in 2024, the U.S. unveiled a strategic USD 7.3 billion investment under the Empowering Rural America Program, aimed at accelerating the nation’s clean energy transition and strengthening energy infrastructure across rural communities.
 

Process plants in key emerging economies are retrofitting aging gas turbines with new digital controls, improved combustors, and re-engineered blades to extend operational life and performance will energize the deployment of aeroderivative gas turbine. Key industry operators are using digital twins to simulate gas turbine behavior under various load scenarios, optimizing performance in real time will create favorable business opportunities.
 

Process Plants Gas Turbine Market Trends

Ongoing transition from diesel gensets or steam turbines to cleaner and more efficient gas turbines will foster industry dynamics. Continuous integration of solar PV or wind systems in hybrid industrial energy to ensure power stability during intermittent renewable output will positively influence the demand for heavy duty gas turbine.
 

Increasing the adoption of these turbines with industrial battery systems to support fast response power and load balancing for critical process operations will stimulate industry trend. Governments in emerging economies are imposing stringent air quality regulations toward adoption of dry low NOx combustion technologies that will propel favorable process plants gas turbine market scenario.
 

For reference, in 2024, UAE and India solidified a landmark 15-year LNG supply agreement, securing 1 MMTPA from ADNOC’s Ruwais gas project. This long-term contract not only reinforces India’s energy security but also fuels its industrial growth.
 

Growing emphasis on local production and assembly of industrial gas turbines in developing regions to reduce import dependency will escalate industry outlook. Supportive government initiatives along with the need for faster serviceability in remote industrial corridors will boost product deployment.
 

These turbines with built-in redundancy, auto shutdown, and fire suppression systems are being selected for hazardous process environments including chemical and gas processing plants will strengthen industry expansion. Rising adoption of hydrogen co-firing turbines in process plants aimed to decarbonize internal energy consumption is driving process plants gas turbine market growth.
 

For instance, in November 2024, GE Vernova in partnership with Oak Ridge National Laboratory, announced the deployment of advanced simulated computing and machine learning technologies. This collaboration aimed to accelerate the transition to low carbon power generation with the potential to reduce CO2 emission by up to 5 million tons.
 

Process plants with fluctuating energy demands are driving key industry manufacturers to invest in turbine capabilities including rapid start/stop and flexible cycling without compromising component life will accelerate industry landscape. In addition, surging demand for turbine-as-a-service and leasing models in smaller industrial plants to avoid high upfront capital expenditure will drive business momentum.
 

Process Plants Gas Turbine Market Analysis

• The global market for process plants gas turbine was estimated at USD 2.4, 2.1 & 2.3 billion in 2022, 2023 and 2024, respectively. Based on product, the industry is segmented into aero-derivative and heavy duty. Increasing the adoption of these units to handle low-emissions fuels including hydrogen and synthetic gas to meet sustainability goals will accelerate business growth.
   
• The aero-derivative process plants gas turbine market is expected to reach over USD 900 million by 2034. Surging demand for these units on account of their high operational agility and fast ramp rates. Furthermore, compact design and lightweight configuration make these units ideal for space-constrained industrial sites and modular plants.
   
• For illustration, in 2024, the EPA finalized new regulations on engine emission, introducing stringent standards for newly installed gas-fired combustion technologies.
   
• The heavy-duty process plants gas turbine will witness a growth rate of 5.5% till 2034. These units are being deployed in large-scale process industries including petrochemicals, steel, and cement for continuous base-load operations. Growing integration of these turbines in cogeneration systems enables both electricity and process steam delivery at industrial mega sites will spur business landscape.
   

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• Based on technology, the industry is segmented into a combined cycle and open cycle. The combined cycle process plants gas turbine market holds a share of 82.6% in 2024. Rising demand for energy efficiency in large-scale process industries together with petrochemical and refineries complexes are leveraging combined cycle systems to optimize waste heat recovery for steam production will bolster business growth.
   
• For reference, the Biden-Harris Administration showcased measurable progress in revitalizing U.S. manufacturing in 2024, driven by transformative policies including CHIPS and Science Act, IRA, and the Bipartisan Infrastructure Law. Moreover, this grant initiative has allocated USD 20 million to advanced clean energy manufacturing technologies.
   
• The open cycle process plants gas turbine market is set to grow at a CAGR of over 5.5% till 2034. These technologies are gaining significant momentum owing to their fast-start applications in process plants needing backup or peak load power without delay. Process sites dealing with unreliable grids are adopting open cycle gas turbines to stabilize operations without maintaining operational continuity will boost industry dynamics.
   

• The U.S. process plants gas turbine market was valued at USD 163.4, 146.6, and 158 million in 2022, 2023 and 2024, respectively. The surge in industrial electrification coupled with aging combined cycle facilities will boost the demand for hybrid gas turbine integration with renewable energy systems. The U.S. EPA’s emission restrictions are accelerating the replacement of old gas turbine units in chemical and fertilizer sectors.
   
• The North America process plants gas turbine market is projected to hit USD 500 million by 2034. Strict emission controls in Canada are leveraging to increased deployment of dry low-emissions combustion systems will in turn will positively sway the industry scenario. In addition, energy-intensive mining operations across the region prefer these units for remote power reliability.
   
• For citation, in 2024, Canada rolled out the Clean Electricity regulations to fast track the transition to a net-zero power sector by 2035. These forward-looking standards set clear performance benchmarks for reducing emission from fossils fuel-based generation, ensuring the electricity industry to meet the nation’s ambitious 2050 net zero commitments.
   
• The Asia Pacific process plants gas turbine market accounted for over 37% revenue share in 2024. Rapid industrialization across key emerging economies along with shift from coal-based to gas-based processing units will amplify industry penetration. Ongoing LNG terminal expansion in line with increasing preference for stable and highly efficient units will proliferate business trajectory.
   
• The Europe process plants gas turbine market was valued at USD 397.7 million in 2024. The region’s decarbonization mandates under EU Green Deal are prompting large-scale turbine retrofits with hydrogen co-firing systems will escalate business dynamics. Moreover, biorefineries across the region are opting small gas turbines to process bio-syngas generated on-site, which in turn will drive industry landscape.
   
• For reference, in 2024, the UK unveiled its first industrial strategy in seven years, targeting 8 sectors including clean energy, advanced manufacturing, and digital technologies. This strategic strategy is designed to foster a pro-business ecosystem, further accelerating innovation and drive sustainable practices.
   
• The Middle East & Africa process plants gas turbine market is set to reach over USD 800 million by 2034. Petrochemical complexes in the region are using heavy-duty turbines for cogeneration reliability in tandem with continuous discoveries of localized gas reserves enabling process plants to install these capacities will fuel industry potential.
   
• The Latin America process plants gas turbine market is poised to grow at a CAGR of 6.4% through 2034. Supportive incentives policies for industrial CHP systems paired with robust expansion of free trade zones is supporting turbine based captive power in export-oriented factories will energize business momentum.
   
• For illustration, in 2024, Brazil expanded its Permanent Concession offer system by introducing exploration blocks and five oil & gas fields, opening the door for companies to bid on lucrative extraction opportunities. Moreover, this initiative is poised to attract USD 600 million in concession contracts, fueling investment and reinforcing the country’s position in the global energy landscape.
   

Process Plants Gas Turbine Market Share

• The top 5 players including Siemens Energy, GE Vernova, IHI Corporation, Mitsubishi Heavy Industries, and Wärtsilä together hold a share of about 50% in the process plants gas turbine industry, driven by a mix of global OEMs and regional players.
   
• GE Vernova holds a strong competitive position in the gas turbine market for process plants, leveraging its broad product range, global footprint, and decades of engineering expertise. In addition, GE competes by offering high-efficiency turbines tailored for industrial applications including oil & gas, refineries, and petrochemicals.
   
• Ansaldo Energia competes in the process plant gas turbines market by delivering medium-to-heavy duty gas turbines renowned for reliability, efficiency, and low emissions. The company differentiates through flexible engineering, competitive pricing, and lifecycle service offerings.
   

Process Plants Gas Turbine Market Companies

• GE Vernova recorded a revenue of USD 34.9 billion in 2024. The company’s order grew by 7%, reaching USD 44.1 billion owing to solid equipment market growth in Power and Electrification in line with the services growth in both the segments surpassing its total order value by double digits.
   
• Mitsubishi Heavy Industries secured its revenue of USD 94.2 billion in 2024. In 2024, Mitsubishi Power received an order from the Samsung C&T Corporation for its hydrogen powered M501JAC combined-cycle gas turbine. This turbine is anticipated to cater a new industrial steam & electricity cogeneration plant which is being constructed in Saudi Arabia by a JV that includes Abu Dhabi National Energy Company.
   
• In 2024, Baker Hughes reported USD 27.8 billion revenue. The company has shown its strong performance by increasing 47% in the adjusted EPS with an increase of 22% in adjusted EBITDA. Its free cash flow was recorded at USD 2.26 billion with USD 1.3 billion free cash flow returned to shareholders.
   

Key players operating across the process plants gas turbine market are:

• Ansaldo Energia
• Baker Hughes
• Bharat Heavy Electricals
• Capstone Green Energy
• Destinus Energy
• Doosan
• Flex Energy Solutions
• GE Vernova
• Harbin Electric
• IHI Corporation
• Kawasaki Heavy Industries
• MAN Energy Solutions
• Mitsubishi Heavy Industries
• Nanjing Turbine & Electric Machinery
• Rolls Royce
• Shanghai Electric Gas Turbine
• Siemens Energy
• Solar Turbines
• Vericor
• Wärtsilä
   

Process Plants Gas Turbine Industry News

• In May 2025, Ansaldo Energia’s advanced AE94.3A gas turbine will serve as the backbone of the new 1 GW AI Dhafra power plant, a landmark energy infrastructure project in Abu Dhabi, commissioned by TAQA. Designed to enhance regional energy security and grid reliability, the facility is scheduled to be fully operational by May 2027. In addition, the company will further deliver high-performance generators and lead all installation and commissioning phases, reinforcing its position as key partner in the Middle East’s energy transformation.
   
• In May 2025, Baker Hughes secured a major contract from Frontier Infrastructure Holdings, a portfolio company of Tailwater Capital, for the delivery of 16 NovaLT gas turbines. These turbines will provide up to 270 MW of high efficiency, reliable power for Frontier’s data center developments in Texas and Wyoming. Under the agreement, Baker Hughes will supply its advanced turbine technology along with critical auxiliary systems, including gear units and four-pole Brush power generators. Moreover, this collaboration underscores both companies’ commitment to advancing sustainable, technology-driven energy solutions.
   
• In March 2025, Siemens Energy secured a landmark USD 1.6 billion contract to deliver advanced power generation technologies for the Rumah 2 and Nairyah 2 gas-fired power plants in Saudi Arabia. In partnership with Harbin Electric, serving as the EPC contractor, Siemens Energy will supply a comprehensive suite of high-performance equipment, including 6 SGT6-9000 HL gas turbines along with several other technologies.
   
• In January 2025, GE Vernova unveiled plans to invest over USD 160 million and create over 650 jobs at its Greenville facility. This strategic expansion is designed to address accelerating global demand, fortify domestic supply chains, and drive innovation in advanced energy technologies. The investment underscored the company’s commitment to strengthen U.S. energy affordability, security, and resilience.
   

The process plants gas turbine market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume (MW) & revenue (USD Million) from 2021 to 2034, for the following segments:

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Market, By Capacity

• ≤ 50 kW
• > 50 kW to 500 kW
• > 500 kW to 1 MW
• > 1 MW to 30 MW
• > 30 MW to 70 MW
• > 70 MW to 200 MW
• > 200 MW

Market, By Product

• Aero-derivative
• Heavy duty

Market, By Technology

• Open cycle
• Combined cycle

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • France
  • Germany
  • Russia
  • Italy
  • Netherlands
  • Finland
  • Greece
  • Denmark
  • Romania
  • Poland
  • Sweden
• Asia Pacific
  • China
  • Australia
  • Japan
  • South Korea
  • Indonesia
  • Thailand
  • Malaysia
  • Bangladesh
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • Kuwait
  • Oman
  • Egypt
  • Turkey
  • Bahrain
  • Iraq
  • Jordan
  • Lebanon
  • South Africa
  • Nigeria
  • Algeria
  • Kenya
  • Ghana
• Latin America
  • Brazil
  • Argentina
  • Peru
  • Chile