Gas turbine market to reach $50.2b by 2035

Hydrogen-ready turbines are gaining adoption.

The global gas turbine market is expected to grow to $50.2b by 2035 from $35.897b in 2026, according to Market Research Future. The market was valued at $34.01b in 2025.

Growth is being driven by rising global electricity demand and the need for reliable, flexible power generation as more renewable energy sources are added to electricity grids. Gas turbine power plants offer rapid start-up and load-following capabilities, making them suitable for balancing intermittent renewable generation.

The report said abundant natural gas supplies, particularly in North America and the Middle East, are supporting wider deployment of gas turbines. Demand is also being fuelled by the replacement of ageing power infrastructure with more efficient, lower-emission technologies, as well as increasing industrial applications such as oil and gas compression.

The market is also seeing growing adoption of combined cycle gas turbines, which can achieve efficiency levels exceeding 60%.

Digital technologies, including predictive maintenance, remote monitoring, and performance optimisation, are also improving turbine operations. At the same time, advances in materials, aerodynamics, combustion systems, thermal barrier coatings, advanced alloys, single-crystal turbine blades, and additive manufacturing are helping increase efficiency whilst reducing production costs.

Supportive government policies, emissions regulations, and the need to integrate renewable energy into power grids are also expected to drive market growth through 2035.

Looking ahead, the report expects demand to remain supported by the continued role of natural gas in the global energy mix, the replacement of coal-fired power plants with gas-fired generation, and expanding industrial and power generation infrastructure across emerging economies.