IMARC Group, a leading market research company, has recently releases report titled “United States Gas Turbine Market Report by Technology (Combined Cycle Gas Turbine, Open Cycle Gas Turbine), Design Type (Heavy Duty (Frame) Type, Aeroderivative Type), Rated Capacity (Above 300 MW, 120-300 MW, 40-120 MW, Less Than 40 MW), End User (Power Generation, Mobility, Oil and Gas, and Others), and Region 2024-2032”. The study provides a detailed analysis of the industry, including the United States gas turbine market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the United States Gas Turbine Market?
United States gas turbine market size is projected to exhibit a growth rate (CAGR) of 5.00% during 2024-2032.
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Report Attribute
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Key Statistics
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|---|---|
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Base Year
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2023 |
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Forecast Years
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2024-2032
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Historical Years
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2018-2023
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| Market Growth Rate (2024-2032) | 16.30% |
United States Gas Turbine Market Trends and Drivers:
Technological advancements, as well as growing energy demands, are the factors responsible for the growth of the United States gas turbine market. Additionally, one of the primary trends is the shift towards cleaner and more efficient energy generation methods. Gas turbines are favored for their ability to provide a reliable and flexible power supply with lower carbon emissions compared to coal-fired plants. Besides this, the push for decarbonization and stringent environmental regulations are encouraging power producers to invest in gas turbine technology, which can operate efficiently with natural gas and even hydrogen blends. Moreover, the development of advanced materials and cooling techniques has significantly improved the efficiency and operational lifespan of gas turbines, making them more attractive for both utility-scale and industrial applications.
Another significant driver in the United States gas turbine market is the increasing demand for distributed power generation. In addition to this, the rising need for energy security and grid stability is being deployed in decentralized power systems to support local energy requirements and provide backup power during grid outages. Furthermore, the ongoing investments in upgrading and modernizing the existing power infrastructure are propelling the demand for gas turbines. The U.S. government authorities and the private sector are both focusing on enhancing grid resilience and reliability, leading to a steady increase in gas turbine installations, which is anticipated to drive the United States gas turbine market over the forecasted period.
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United States Gas Turbine Market Report Segmentation:
The report is organized into distinct sections as follows:
Technology Insights:
- Combined Cycle Gas Turbine
- Open Cycle Gas Turbine
Design Type Insights:
- Heavy Duty (Frame) Type
- Aeroderivative Type
Rated Capacity Insights:
- Above 300 MW
- 120-300 MW
- 40-120 MW
- Less Than 40 MW
End User Insights:
- Power Generation
- Mobility
- Oil and Gas
- Others
Regional Insights:
- Northeast
- Midwest
- South
- West
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Other Key Points Covered in the Report:
- COVID-19 Impact
- Porters Five Forces Analysis
- Value Chain Analysis
- Strategic Recommendations
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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