The North America gas turbine market size is expected to reach US$ 11,089.80 million by 2031 from US$ 7,938.04 million in 2024. The market is estimated to register a CAGR of 5.02% during 2025–2031. Digitalization and AI-driven predictive maintenance are likely to bring new trends to the market in the coming years.
North America benefits from abundant natural gas reserves, mostly in the US and Canada. Competitive natural gas prices have made gas turbines an economically feasible option for power generation and industrial applications. Further, the growing industrial activity and rising urbanization in North America are boosting the demand for electricity. Gas turbines are widely utilized in industrial settings owing to their reliability, efficiency, and ability to function on natural gas.
Combined heat and power systems, which utilize gas turbines to produce both electricity and heat, are gaining momentum in North America. These systems provide higher competence and lower emissions compared to conventional power generation procedures. Further, the development of hydrogen-fueled gas turbines is expected to be a promising trend in the market in the coming years. These turbines can function on a blend of natural gas and hydrogen, reducing carbon emissions and supporting the transition to a hydrogen-based economy.
The North America gas turbine market plays a crucial role in the overall energy and industrial landscape. Growing demands for energy, rising stringent environmental regulations, and increasing advancements in turbine technology drive the gas turbine market growth. Gas turbines play a pivotal role in power generation, industrial applications, and the transition toward cleaner energy sources.
Stringent environmental regulations in North America are pushing utilities and industries to adopt cleaner energy solutions. Gas turbines, which release less carbon dioxide compared to coal-fired power plants, are becoming a preferred alternative for power generation. This aligns with the global drive toward decarbonization and the adoption of low-carbon energy technologies.
Combined cycle and cogeneration power plants are highly adopted owing to their low emissions and high efficiency in power generation. In combined cycle power plants (CCPPs), gas turbines generate electricity, and the resulting waste heat is captured to produce steam. This steam drives conventional steam turbines, generating additional power. The system also uses a heat recovery steam generator (HRSG) to optimize steam production. The electrical efficiency of a regular standard cycle power plant can be attained up to ~25–40%, without leveraging the waste heat. In the case of CCPP, the efficiency up to ~60% or even more can be accomplished. Additional firing can further enhance the overall efficiency of the entire procedure, improving the overall effectiveness and the entire lifecycle’s cost.
CCPPs have noteworthy operational flexibility and offer tailor-made solutions for the developing energy demands. Shell Energy North America (US), L.P. (SENA), signed an agreement to acquire a 100% equity stake in RISEC Holdings, LLC (RISEC), in 2024, which owns a 609-megawatt (MW) two-unit combined-cycle gas turbine power plant in Rhode Island, the US. As per the US Energy Information Administration (EIA), eight new natural gas-fired combined cycle plants have come online in 2022, adding ~7,775 MW of generating capacity to the US grid. The developers target to add 1.6 GW of Combined Cycle Gas Turbines in 2025 and plan to add ~18.7 gigawatts (GW) of combined-cycle capacity to the grid by 2028, with 4.3 GW already under construction. Thus, the rising development of the combined-cycle power plants fuel the North America gas turbine market growth.
The growing adoption of hydrogen-blended and zero-carbon gas turbines is a significant trend in the global shift toward decarbonized energy systems. These turbines reduce or eliminate carbon emissions from power generation, particularly by utilizing hydrogen as a fuel source, either as a blend with natural gas or in pure form. Hydrogen as a zero-carbon fuel is becoming a significant component for decarbonizing the economy. It can be utilized as a storage medium and fuel for power generation equipment. Gas turbines can burn any gaseous fuel that meets the requirements for the combustion chamber. Combustion of 100% hydrogen (H2) in the combustion chamber of an operating gas turbine is complex without technological advancement.
Hydrogen application is the latest and promising technology in gas turbines, for a cleaner and more sustainable energy future. Companies such as GE Vernova are working on the application of hydrogen as a gas turbine fuel. Companies operating in the gas turbine sector are emphasizing the differences between natural gas and hydrogen, along with the safe usage of hydrogen as a primary source in gas turbines. The growing innovation and rising development in the gas turbine sector, pushing the usage of 100% hydrogen in the gas turbine, is expected to offer lucrative opportunities in the gas turbine market during the forecast period.
Key segments that contributed to the derivation of the North America gas turbine market analysis are technology, capacity, and application.
The North America gas turbine market is segmented into three major countries: the US, Canada, and Mexico. The US dominated the market in 2024, followed by Canada and Mexico.
The North America gas turbine market is poised for substantial growth, driven by rising energy demands, growing advancements in gas turbine technology, and the increasing emphasis on transitioning to cleaner energy sources. North America is going through a shift from coal-driven power plants to cleaner energy sources, with gas turbines playing a crucial role in this transition. Stringent environmental regulations aimed at lowering carbon emissions are boosting the adoption of gas turbines, which emit fewer pollutants compared to coal-fired plants. The power utilities sector holds a significant share of the gas turbine market in North America, driven by the requirement for consistent and efficient power generation. The availability of natural gas in the region has further boosted the adoption of gas turbines in industrial applications, including manufacturing, oil and gas, and chemical processing. Further, gas turbines are also widely utilized in the aviation sector for aircraft propulsion owing to their high power-to-weight ratio and competence. The growing aerospace industry in North America, led by companies such as Boeing and Lockheed Martin, is a noteworthy driver of demand for gas turbines in North America. Gas turbines with capacities in the range of 5–40 MW are gaining momentum in mid-sized power plants and industrial sectors. These turbines are efficient in balancing the intermittent nature of renewable energy sources. In April 2025, Duke Energy and GE Vernova announced a noteworthy partnership for natural gas turbines and other associated equipment to meet the growing requirements of advanced manufacturing, data centers, and population growth. The arrangement between the companies includes a plan to advance specific projects for up to eleven 7HA gas turbines consistent with Duke Energy's integrated resource plans. This will help the company meet its business strategy to provide reliable energy and keep customer costs as low as possible, as well as meet even the most robust growth scenarios in the future. Initiatives and novel technologies such as artificial intelligence and machine learning for predictive maintenance by manufacturers are driving innovation and expanding market development.
The regional trends and factors influencing the North America Gas Turbine Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses North America Gas Turbine Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2024 | US$ 7938.03 Million |
| Market Size by 2031 | US$ 11089.79 Million |
| Global CAGR (2025 - 2031) | 5.02% |
| Historical Data | 2021-2023 |
| Forecast period | 2025-2031 |
| Segments Covered |
By Technology
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The North America Gas Turbine Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the North America Gas Turbine Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The North America gas turbine market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. Key developments in the North America gas turbine market are listed below:
The "North America Gas Turbine Market Size and Forecast (2025–2031)" provides a detailed analysis of the market covering the areas mentioned below:
The key players holding majority shares in the North America gas turbine market are GE Vernova Inc.; Siemens AG; Mitsubishi Heavy Industries Ltd; Caterpillar Inc; Kawasaki Heavy Industries Ltd; Baker Hughes Co; Capstone Green Energy Holdings, Inc.; Industrial Boilers America; Doncasters Group; and Vericor Power Systems.
The US held the largest market share in 2024, followed by Canada.
Digitalization and AI-driven predictive maintenance are the future trends of the North America gas turbine market.
The North America gas turbine was valued at US$ 7,938.04 million in 2024 and is projected to reach US$ 11,089.80 million by 2031. The market is expected to grow at a CAGR of 5.02% during 2025–2031.
Rising demand for clean and efficient power generation, rising demand for clean and efficient power generation, and surging electricity demand are the driving factors impacting the North America gas turbine market.
The North America gas turbine market is expected to reach US$ 11089.80 million in the year 2031.