SINGLE SHAFT TURBINE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

Single Shaft Turbine Market, By Type (Gas Turbines, Steam Turbines, Hydraulic Turbines, Wind Turbines, and Others), By Power Rating (Up to 50 MW, 50-100 MW, 100-300 MW, 300-500 MW, 500-700 MW, Above 700 MW, and Others), By End-use Industry (Power Generation, Oil & Gas, Industrial, Aviation, Marine, and Others), By Application (Power Plants, Oil & Gas Industry, Chemical Industry, Steel Industry, Mining Industry, Aviation, and Marine), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Single Shaft Turbine Market Regional Insights

Asia Pacific is expected to be the largest market for single shaft turbines during the forecast period, accounting for over 34% of the market share in 2023. The growth of the market in Asia Pacific is attributed to rapid industrialization, increasing energy demand, and investments in the power sector in countries like China and India.
North America is expected to be the second-largest market for single shaft turbines, accounting for over 26% of the market share in 2023. The growth of the market in North America is attributed to increasing emphasis on renewable energy sources and shale gas-based power generation.
Europe is expected to be the fastest-growing market for single shaft turbines, growing at CAGR of over 21% during the forecast period. The growth of the market in Europe is attributed to the refurbishment of existing plants and investments in hybrid power generation technology.

Figure 1. Global Single Shaft Turbine Market Share (%), by Region, 2023

North America: U.S. and Canada
Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
Middle East & Africa: GCC Countries, Israel, South Africa, North Africa, Central Africa, and Rest of Middle East