The future of the global gas turbine market looks good with opportunities in oil and gas industry. The global gas turbine market for oil and gas industry is expected to reach an estimated $1.2 billion and it is forecast to grow at a CAGR of 3.5% from 2019 to 2024. The major drivers for growth of this market are growing exploration & production activities and increasing investment in unconventional oil and gas resources.

An emerging trend, which has a direct impact on the dynamics of the industry, includes development and use of high temperature materials for gas turbines.

A total of 98 figures / charts and 74 tables are provided in this 149 -page report to help in your business decisions. Sample figures with some insights are shown below. To learn the scope of, benefits, companies researched and other details of this global gas turbine market for oil and gas industry report download the report brochure.

gas turbine market in the oil and gas industry by application

gas turbine market in the oil and gas industry

gas turbine market in the oil and gas industry manufacturers
The study includes the global gas turbine market for oil and gas industry size and forecast for growth opportunities in the global gas turbine market for oil and gas industry through 2024, segmented by application, turbine size, design type, technology, and region as follows:

  • Gas turbine Market for Oil and Gas Industry by Application [Capacity (MW) and Value ($ Million) from 2013 to 2024]:
  • Power Generation Mechanical Drive
  • Gas turbine Market for Oil and Gas Industry by Turbine Size [Capacity (MW) and Value ($ Million) from 2013 to 2024]:
  • 1-20 MW 20 MW and above
  • Gas turbine Market for Oil and Gas Industry by Design Type [Capacity (MW) and Value ($ Million) from 2013 to 2024]:
  • Aero Derivative Heavy Duty
  • Gas turbine Market for Oil and Gas Industry by Technology [Capacity (MW) and Value ($ Million) from 2013 to 2024]:
  • Simple Cycle Combine Cycle Co-generation
  • Gas turbine Market for Oil and Gas Industry by Region [Capacity (WW) and Value ($ Million) from 2013 to 2024]:
  • North America Europe Asia Pacific Rest of the World
  • Some of the gas turbines companies profiled for oil and gas industry in this report include General Electric, Siemens, Mitsubishi Heavy Industries, Solar Turbines, and Kawasaki Heavy Industries are among the major suppliers of gas turbines for oil and gas industry.


On the basis of comprehensive research, Lucintel forecasts that gas turbine used for power generation in the oil and gas industry is expected to remain the largest segment. Power requirement in the offshore platforms and remote exploration locations is likely to drive this segment over the forecast period. Gas turbines used for mechanical drive is expected to witness highest growth during the forecast period.

By turbine size, the ’1-20 MW’ turbine is expected to remain the largest segment supported by its wider application area. Turbine size ’20 MW and above’ is expected to witness highest growth during the forecast period. High efficiency as compared to smaller turbines is driving growth of this segment over the forecast period.

Rest of the World is expected to remain the largest market by value and capacity. North America is likely to witness the highest growth over the forecast period due to growing investment in unconventional oil and gas facilities.

Some of the features of “Gas Turbine Market for Oil and Gas Industry Report: Trends, Forecast and Competitive Analysis” include:

  • Market size estimates: Gas turbine market in the oil and gas industry size estimation in terms of value ($M) and volume (MW) shipment.Trend and forecast analysis: Market trend (2013-2018) and forecast (2019-2024) by application, and end use industry.Segmentation analysis: Gas turbine market in the oil and gas industry size by various applications such as application, design type, turbine size, technology in terms of value and volume shipment.Regional analysis: Gas turbine market in the oil and gas industry breakdown by North America, Europe, Asia Pacific, and the Rest of the World.Growth opportunities: Analysis on growth opportunities in different applications and regions of gas turbine in the oil and gas industry market.Strategic analysis: This includes M&A, new product development, and competitive landscape of gas turbine in the oil and gas industry. Analysis of competitive intensity of the industry based on Porter’s Five Forces model.


This report answers following 11 key questions:

Q.1. What are some of the most promising, high-growth opportunities for gas turbine market in the oil and gas industry by application (power generation and mechanical drive), turbine size (1-20 MW, and 20 MW & above), by design type (aeroderivative and heavy duty), technology (simple cycle, combine cycle, and co-generation) and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2.Which segment will grow at a faster pace and why?
Q.3.Which region will grow at a faster pace and why?
Q.4.What are the key factors affecting market dynamics? What are the drivers and challenges, and business risks in this market?
Q.5.What are the business risks and competitive threats for gas turbine market in the oil and gas industry?
Q.6.What are emerging trends for gas turbine market in the oil and gas industry and reasons behind them?
Q.7.What are some of the changing demands of customers for gas turbine market in the oil and gas industry?
Q.8.What are the new developments for gas turbine market in the oil and gas industry and which companies are leading these developments?
Q.9.Who are the major players for gas turbine market in the oil and gas industry? What strategic initiatives are being taken by key players for business growth?
Q.10. What are some of the competing products for gas turbine market in the oil and gas industry and how big of a threat do they pose for loss of market share by product substitution?
Q.11. What M & A activity has occurred in the last 5 years and what has its impact been for gas turbine market in the oil and gas industry?