Industrial Gas Turbines Market Insights Video

According to Cognitive Market Research, the global Industrial Gas Turbines market size was USD 9262.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 4.00% from 2024 to 2031.

• North America held the major market share for more than 40% of the global revenue with a market size of USD 3705.00 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.2% from 2024 to 2031.
• Europe accounted for a market share of over 30% of the global revenue with a market size of USD 2778.75 million.
• Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 2130.38 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.0% from 2024 to 2031.
• Latin America had a market share of more than 5% of the global revenue with a market size of USD 463.13 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.4% from 2024 to 2031.
• Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 185.25 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.7% from 2024 to 2031.
• The Simple Cycle category is the fastest growing segment of the Industrial Gas Turbine Market