North America Gas Turbine Market is expected to reach US$ 11,089.80 Million by 2031


PRESS RELEASE BY The Insight Partners 07 Jul 2025

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Surging Electricity Demand Boosts North America Gas Turbine Market Growth

According to our latest market study on "North America Gas Turbine Market Size and Forecast (2025–2031), Country Share, Trend, and Growth Opportunity Analysis—by Technology, Capacity, and Application,” the market was valued at US$ 7,938.04 million in 2024 and is anticipated to reach US$ 11,089.80 million by 2031; it is estimated to register a CAGR of 5.02% during 2025–2031. The report includes prospects in light of the current North America Gas Turbine Market trends and factors influencing market growth.

Electricity demand across North America is experiencing a substantial surge, driven by the electrification of transportation, the rapid expansion of data centers, and ongoing growth in the manufacturing and industrial sectors. The growing demand for electricity is increasing the focus on the advancements of existing infrastructure and requiring significant investment in new generation and grid capacity. According to the United States Chamber of Commerce, data centers allocate ~40% (an average of US$ 7.4 million) of their annual operating budget on powering systems. Data centers consume ~3% of the global electricity, with US data centers accounting for ~2% of the country's electricity consumption. Data from the Department of Energy, data centers consumed ~4% of the total electricity in 2023 and are anticipated to consume ~6–12% by 2028. Texas is one of the growing data center hubs in the US, owing to the significant activities from the hyperscale operators. The Western US is recognized as a developed market for data centers owing to the presence of Meta (formerly Facebook), Google, and Microsoft. Northern Virginia is progressing into a multi-state market for HVAC chillers owing to high data center developments. Meanwhile, Georgia is actively fostering industry growth through tax exemptions on advanced data center equipment, effective until 2033. This initiative attracts substantial attention to Atlanta, where several data center projects are in development or planning stages. The proliferation of data centers and commercial developments is intensifying the demand for a reliable and scalable electricity supply across the region.

North America Gas Turbine Market Analysis – by Country, 2024

North America Gas Turbine Market Analysis – by Country, 2024


North America Gas Turbine Market Size, & Forecast by 2031

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North America Gas Turbine Market Size and Forecast (2025 - 2031), Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Technology (Open-cycle and Combined Cycle), Capacity (Below 40 MW, 40–120 MW, 120–300 MW, and Above 300 MW), Application (Power Generation, Oil and Gas, and Industrial), and Geography

Source: The Insight Partners Analysis

In 2024, Schaeffler announced the plan to expand its operations in the US by establishing a new manufacturing facility dedicated to producing automotive electric mobility solutions. The company planned an investment of over US$ 230 million for the establishment of an advanced manufacturing facility in Ohio, along with its future expansion till 2032. Key automotive manufacturing plants in the US include the Mazda–Toyota joint venture for manufacturing automotive parts in Huntsville, General Motors Company's Detroit/Hamtramck Assembly, Flint Truck Assembly, Lansing Delta Township Assembly, and Orion Assembly. Ford Motor Company's Flat Rock Assembly Plant, Dearborn Truck, and Michigan Assembly Plant are among the major automotive manufacturing plants in the US. The growing development in the manufacturing and industrial sector is boosting the electricity demand in North America. Further, rising population and expanding urbanization are boosting the energy consumption worldwide. As per the US Energy Information Administration (EIA), US energy consumption is anticipated to grow by 2050 owing to economic and population growth. Therefore, the surge in demand for electricity fuels the North America gas turbine market growth.

The scope of the North America gas turbine market report focuses on the US, Canada, and Mexico. In North America, the US held the largest North America gas turbine market share in 2024. As a result of rising demand for clean and efficient power generation, the market in the US is anticipated to witness significant development in the coming years. In terms of technology, the combined cycle held the largest North America gas turbine market share in 2024. 120-300 MW is leading the market in terms of capacity. The power generation sector is dominating, followed by industrial sector in terms of application in the North America gas turbine market report.

The gas turbine market in the US plays a crucial role in the energy sector, driven by changing energy policies, rising technological advancements, and growing demand for cleaner energy solutions. The US is emphasizing the transition from coal-based power generation to cleaner alternatives, with natural gas evolving as a suitable choice owing to its lower emissions characteristics. The implementation of stringent environmental regulations aimed at limiting greenhouse gas emissions is propelling the gas turbine market growth in the country. The US government has implemented policies promoting natural gas usage as a broader strategy to decrease carbon footprints. Continuous innovations and developments, including advancements in efficiency, durability, and operational flexibility, are observed in gas turbine technology. Recent advancements in materials and design, such as enhanced turbine blades and advanced cooling techniques, have enabled turbines to function at higher temperatures and pressures, thereby increasing their efficiency. This also has a positive impact on the gas turbine market in the US. Natural gas is one of the noteworthy sources of energy utilized to generate electricity in the US, making up ~43% of electricity generation in 2023. Natural gas-fired power plants accounted for the second-most US generating capacity additions in 2023, followed by solar. The growing domestic supply and relatively low natural gas prices, along with the adaptability of natural gas-fired power plants, drive the gas turbine market growth in the US.

Canada is lowering its carbon footprint and shifting from coal and other fossil fuels to natural gas. The Canadian government has implemented various regulations and initiatives to endorse cleaner energy sources. Programs aimed at curbing emissions and enhancing energy efficiency are boosting investments in gas turbine technology. Substantial investments in energy infrastructure, including upgrades to existing power plants and the construction of new facilities, are generating the demand for gas turbines. The requirement for consistent power generation solutions, especially in remote and underserved areas, is further propelling market expansion for gas turbines in the country. The exploration of hydrogen as a fuel source for gas turbines offers a substantial opportunity for the market. As Canada emphases decarbonization, hydrogen-driven turbines are expected to become a key element in curbing emissions in the energy sector during the forecast period. The Canadian Net-Zero Emissions Accountability Act, approved in June 2021, is committed to attaining net-zero greenhouse gas emissions by 2050 and presents a framework for setting and meeting emissions reduction targets. Thus, the rising government focus on net-zero carbon emissions drives the gas turbine market growth in Canada.

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, among others, are major companies profiled in the North America gas turbine market report. Other major players were also studied and analyzed in the report to get a holistic view of the market and its ecosystem. The North America gas turbine market forecast can help stakeholders plan their growth strategies. Moreover, the North America gas turbine market analysis provides detailed market insights, which help the key players strategize their growth.

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