The global Gas Turbine market size is projected to reach USD 36.58 billion by 2029

A gas turbine is a type of internal combustion engine. Essentially, the engine can be viewed as an energy conversion device that converts energy stored in the fuel to useful mechanical energy in the form of rotational power. The term “gas” refers to the ambient air that is taken into the engine and used as the working medium in the energy conversion process.

This air is first drawn into the engine where it is compressed, mixed with fuel and ignited. The resulting hot gas expands at a high velocity through a series of airfoil-shaped blades transferring energy created from combustion to turn an output shaft. The residual thermal energy in the hot exhaust gas can be harnessed for a variety of industrial processes.

According to the new market research report “Global Gas Turbine Market Report 2023-2029”, published by GlobalInfoResearch, the global Gas Turbine market size is projected to reach USD 36.58 billion by 2029, at a CAGR of 7.3% during the forecast period.

• Global Gas Turbine MarketSize(US$ Million), 2018-2029

Source: GlobalInfoResearch, “Global Gas Turbine Market 2023 by Manufacturers, Regions, Type and Gas Turbine, Forecast to 2029”.

• Global Gas Turbine Top8Players Ranking and Market Share（Based on data of 2020, Continually updated）

Source: GlobalInfoResearch, “Global Gas Turbine Market 2023 by Manufacturers, Regions, Type and Gas Turbine, Forecast to 2029”.

The global key manufacturers of Gas Turbine include GE, Siemens, etc. In 2020, the global top three players had a share approximately 81.0% in terms of revenue.

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