The North America Gas Turbine Market was valued at USD 7,850 million in 2025 and is projected to reach USD 13,500 million by 2035, growing at a CAGR of 4.8% from 2024 to 2035. The report provides insights into key growth drivers, trends, opportunities, and recent developments, along with revenue analysis and regional share breakdown.
The economic impact of tariffs on "North America Gas Turbine Market".
Market Growth Drivers
Increasing Adoption of Combined Cycle Power Plants: The demand for highly efficient energy generation has driven the adoption of combined cycle power plants utilizing gas turbines. For instance, General Electric (GE) reported record orders for its advanced HA gas turbine in 2023, driven by utilities seeking to lower emissions while ensuring grid reliability. This trend supports strong market growth as utilities seek flexible, low-carbon options to complement renewables.
Replacement of Aging Power Infrastructure: Many North American power plants, especially those reliant on coal, are nearing the end of their operational lifespan. Companies like Siemens Energy are capitalizing on this by offering high-efficiency gas turbines to modernize power generation assets, resulting in improved energy security and compliance with environmental regulations.
Market Trends
Hydrogen-Ready Gas Turbines: Major manufacturers such as Mitsubishi Power and GE are developing gas turbines capable of combusting hydrogen or high blends of hydrogen and natural gas. In 2024, Mitsubishi Power announced successful operational trials of its hydrogen-capable turbines in Texas, signaling a shift towards low-carbon fuels to support decarbonization efforts in North America.
Integration with Renewable Energy: With the increasing penetration of renewables in the energy mix, gas turbines are being deployed for grid balancing and providing fast ramp-up capabilities. In 2023, Siemens Energy collaborated with Canadian utilities to retrofit gas turbines for flexible operation, enabling better integration of intermittent wind and solar resources.
Market Opportunity
Development of Small-Scale Distributed Generation: There is a growing opportunity for distributed and modular gas turbine systems catering to remote industries and microgrids. Caterpillar Inc. is investing in small gas turbine solutions for decentralized applications, addressing demand for reliable power in off-grid and emergency backup scenarios.
Retrofitting Existing Power Plants: Retrofitting older gas turbines to enhance efficiency and reduce emissions represents a promising market opportunity. Companies like Solar Turbines are providing technological upgrades to increase lifecycle value and operational flexibility for North American energy providers.
North America Gas Turbine Market Revenue (USD Million), 2020-2035
The chart illustrates a steady upward trajectory for the North America Gas Turbine Market from 2020 to 2035. Starting at USD 5,900 million in 2020, revenue growth is consistent, crossing USD 7,850 million in 2025, and projected to reach USD 13,500 million by 2035. This growth is attributed to increasing investments in efficient gas-based power infrastructure, rising electricity demand, and initiatives aimed at decarbonizing the grid. The market witnesses the strongest acceleration from 2027 onwards, signifying the impact of regional policy shifts and technological advancements supporting gas turbine adoption.
North America Gas Turbine Market Share by Region (%), 2025
The pie chart reveals the United States as the dominant region in the North America Gas Turbine Market for 2025, holding a substantial 65% share due to its expansive utilities and ongoing grid modernization projects. Canada follows with 20%, driven by investments in clean energy and flexible power systems. Mexico accounts for 10%, where new infrastructure projects fuel gas turbine demand. The rest of North America, including Caribbean nations, collectively contribute 5%. The chart demonstrates the market's heavy concentration in the U.S., with Canada's role growing as it pushes for decarbonization.
Recent Developments (Last 6 Months)
In May 2024, General Electric Vernova announced the successful commissioning of six advanced HA-class gas turbines at a major U.S. utility plant in California, boosting grid reliability and supporting renewable integration in one of the country's largest markets.
In March 2024, Siemens Energy entered into an agreement with a leading Canadian utility to retrofit aging gas-fired power stations with upgraded turbines capable of hydrogen-blended operations. This move is seen as a critical step toward meeting Canadian climate commitments while ensuring grid stability.
In February 2024, Mitsubishi Power launched trials for its 100% hydrogen-fueled gas turbine at an industrial park in Texas, marking a North American first. The trial, in partnership with a local utility, aims to demonstrate the commercial viability and emissions-reducing potential of hydrogen turbines in the power sector.
Press Releases