Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Aeroderivative Gas Turbine Market size was USD 6.5 billion in 2024 and is estimated to reach USD 14.6 billion by the end of 2037, expanding at a CAGR of 6.5% during the forecast period, i.e., 2025-2037. In 2025, the industry size of aeroderivative gas turbines is estimated at USD 6.9 billion.
The dominant demand for oil and gas is foreseen to fuel the installation of aeroderivative gas turbines in the exploration facilities. The onshore exploration is leading the production of hydrocarbons. However, several oil and gas companies are focusing on offshore discoveries to earn lucrative gains. The U.S. Energy Information Administration (EIA) estimates that oil inventories are set to rise in the second quarter of 2025 by nearly 0.6 million b/d. Furthermore, the study by the International Energy Agency highlights that in 2022, the global oil consumption stood at 187,902,349 TJ, registering a 22% upward trend. Oil captured over 30.0% of the energy supply during the same period.
The U.S., Saudi Arabia, Russia, Canada, Iraq, and China are leading the oil production in the global landscape. The strong existence of onshore oil reserves in these areas is directly boosting the trade of aeroderivative gas turbines. The current investments in the exploration of offshore oil and gas farms are set to increase the applications of aeroderivative gas turbines during the foreseeable period. The IEA study projects that, as per the new policies scenario, the production of oil and natural gas in the offshore location is likely to reach 27.4 mboe/d and 29.6mboe/d by 2040. The reduced costs of offshore exploration are driving hefty investments, which are foreseen to positively increase the demand for aeroderivative gas turbines.
Aeroderivative Gas Turbine Sector: Growth Drivers and Challenges
Growth Drivers
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Increasing applications in LNG plants: The rise in investments in the LNG infrastructure expansion is poised to open new avenues in the aeroderivative gas turbine market. The clean energy trend is augmenting the consumption of natural gas and renewable fuels. This aspect is creating a profitable space for aeroderivative gas turbine manufacturers. For instance, the Institute for Energy Economics and Financial Analysis (IEEFA) projects that by 2028, the LNG supply capacity of the world is estimated to increase to 666.5 MTPA. Asia Pacific and North America are anticipated to lead the LNG production and supply. The same source also estimates that around 5 LNG projects are under construction in the U.S, or over 71 MTPA capacity.
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Military and aviation revenue boosters: The military and aerospace fields are a money-making opportunity for aeroderivative gas turbine companies. The versatility of aeroderivative gas turbines in these sectors, such as energy generation, propulsion, and auxiliary solutions, is contributing to the overall aeroderivative gas turbine market growth. The increasing innovation and export activities in the aerospace and military space are increasing the installation of aeroderivative gas turbines. The International Trade Administration (ITA) states that the U.S. aerospace companies have a presence in over 200 global cities. The developments in new business partnerships and growing global presence are likely to offer win-win opportunities for aeroderivative gas turbine manufacturers in the U.S.
Challenges
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High initial capital requirement: The upfront investment required for the production and installation of aeroderivative gas turbines is challenging their sales growth. The small scale and new companies often find it difficult to compete with leading giants owning to limited budgets. This factor often limits the new product launches and hinders small players from accessing the latest opportunities. The high installation and maintenance costs also deter end users from investing in aeroderivative gas turbines. This competitive scenario is often observed in price-sensitive markets.
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Competition from decarbonization trend: The decreasing costs of renewables such as solar, wind, and battery storage are likely to challenge the sales of aeroderivative gas turbines. The decarbonization trend is estimated to register a clean energy shift globally. However, the innovations focused on the use of aeroderivative gas turbines in renewable sources are anticipated to boost the revenues of key market players. Also, the dominance of fossil fuel is projected to offer high revenue-earning opportunities to the manufacturers.
Aeroderivative Gas Turbine Market: Key Insights
| Report Attribute | Details |
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
6.5% |
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Base Year Market Size (2024) |
USD 6.5 billion |
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Forecast Year Market Size (2037) |
USD 14.6 billion |
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Regional Scope |
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Aeroderivative Gas Turbine Segmentation
Application (Power Generation, Oil & Gas, Industrial, Aerospace)
The power generation segment is expected to capture 42.8% of the global aeroderivative gas turbine market share by 2037. The aeroderivative gas turbine is the most sought-after component in the power generation facilities. The constant rise in the consumption of energy is likely to register a stable demand for aeroderivative gas turbines. The International Energy Agency (IEA) report underscores that through 2027, the global energy consumption is set to register a robust growth. In the next 3 years, the electricity demand is poised to grow by 3,500 TWh, mostly dominated by India, China, and Southeast Asian countries.
Type (Below 30MW, More than or equal to 30MW)
The below 30MW segment is projected to account for 56.9% of the global aeroderivative gas turbine market share from 2025 to 2037. The precise and stable below 30MW capacity aeroderivative gas turbine is widely used in the small and medium-sized industrial sectors. The on-site power generation projects invest in the aeroderivative gas turbines below 30 MW. The importance of below 30 MW aeroderivative gas turbines in grid stability is set to contribute to their overall sales. The increasing expansion of renewable energy generation plants is foreseen to double the revenue of advanced below 30 MW aeroderivative gas turbine producers.
Our in-depth analysis of the global market includes the following segments:
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Application |
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Technology |
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Customize this ReportAeroderivative Gas Turbine Industry - Regional Scope
North America Market Forecast
The North America aeroderivative gas turbine market is estimated to hold 41.5% of the global revenue share through 2037. The high oil and gas exploration activities are positioning the region to lead the global landscape. The clean energy trend and natural gas infrastructure growth are also boosting the application of aeroderivative gas turbines. The rise in public-private investments in the aerospace sector is uplifting the importance of North America is driving overall trade. The U.S. and Canada are likely to double the revenues of aeroderivative gas turbine manufacturers in the years ahead.
The aerospace market of the U.S. is likely to offer fruitful gains to aeroderivative gas turbine investors. The continuous technological advancements in aerospace and military space are boosting the application of innovative aeroderivative gas turbines. The growth of the aerospace sector is set to push the sales of aeroderivative gas turbines in the years ahead. The Aerospace Industries Association (AIA) states that in 2023, the U.S. aerospace and defense sector generated over USD 955.0 billion in sales and contributed USD 425.0 billion to the GDP of the country.
The increasing developments in the LNG sector of Canada are likely to increase the adoption of aeroderivative gas turbines. The IEEFA report highlights that the 14-MTPA LNG project led by Mitsubishi Corporation, KOGAS, Shell, and PetroChina is seen to increase the natural gas capacity of the country. The importance of aeroderivative gas turbine technology in oil and gas production is increasing its trade. Apart from these, the dominant crude oil plants of the country are boosting the demand for gas turbines.
APAC Market Statistics
The Asia Pacific aeroderivative gas turbine market is expected to increase at the fastest pace during the assessed period. The boasting industrial and commercial activities are leading to high energy consumption. The power generation segment, including renewables, is driving the adoption of aeroderivative gas turbines in the region. The robust production and consumption of natural gas and oil in China, Japan, India, and South Korea are propelling the application of gas turbine systems. The expanding military and aerospace sector is also contributing to the overall market growth.
To meet the increasing energy demand, China is focusing on the expansion of its renewable capacity. The IEA analysis highlights that in 2024, the country accounted for 40.0% of the global renewable capacity share. The change in electricity consumption per capita between 2000 to 2022 stood at 516%. The renewable segment held 24.2% of the total power generation share in 2022. These statistics highlight that China is the most favorable market for aeroderivative gas turbine manufacturers to invest in.
The commercialization of the strategic petroleum reserves of India is opening new avenues for aeroderivative gas turbine manufacturers. The demand for oil in the country is expected to increase by 2x by 2045, estimates the India Brand Equity Foundation (IBEF). The natural gas consumption increased by 25 billion cubic metres in 2024. The same source also projects that by 2040, India’s refining capacity is likely to rise to 667 MTPA and the sector is poised to generate USD 25.0 billion in investment for exploration and production.
Companies Dominating the Aeroderivative Gas Turbine Landscape
- GE Vernova Inc.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Doosan Enerbility
- Siemens AG
- Rolls-Royce Plc
- Baker Hughes Company
- Harbin Electric Corporation
- Nanjing Turbine & Electric Machinery
- SAFRAN
- Collins Aerospace
- Pratt & Whitney
- Solar Turbines
- Capstone Turbine Corporation
- MAN Energy Solutions
- OPRA Turbines
- Vericor Power Systems
- Zorya-Mashproekt
- MTU Aero Engines
The key companies in the aeroderivative gas turbine market are employing various organic and inorganic strategies such as new product launches, mergers & acquisitions, technological innovations, partnerships & collaborations, and global expansion to increase their revenue shares. They are investing in R&D activities to introduce innovative aeroderivative gas turbines. Leading players are also collaborating with end users to boost their sales. Partnerships with other players are projected to maximize their aeroderivative gas turbine market reach. The industry giants are also focusing on expanding their operations in the untapped markets to earn sound profits.
Some of the key players include:
Recent Developments
- In March 2025, GE Vernova Inc. announced the launch of its next-generation of mobile aeroderivative gas turbines, power plants on wheels. This innovation delivers reliable and efficient energy anywhere, irrespective of the grid.
- In March 2024, Doosan Enerbility announced its proposal to add aircraft engine manufacturing in the company’s general shareholders’ meeting. The company also introduced a gas turbine for power generation, similar to aircraft engines.
Author Credits: Dhruv Bhatia
- Report ID: 5229
- Published Date: May 09, 2025
- Report Format: PDF, PPT
