Australia Gas Turbine Market Size, Share, and COVID-19 Impact Analysis, By Technology (Combined Cycle Gas Turbine, and Open Cycle Gas Turbine), By Application (Oil & Gas, Process Plants, Aerospace, Power Generation, and Marine), and Australia Gas Turbine Market Insights, Industry Trend, Forecasts to 2035

Australia Gas Turbine Market Insights Forecasts to 2035

• The Australia Gas Turbine Market Size Was Estimated at USD 753.6 Million in 2024
• The Market Size is Expected to Grow at a CAGR of Around 5.73% from 2025 to 2035
• The Australia Gas Turbine Market Size is Expected to Reach USD 1390.3 Million by 2035

According to a research report published by Spherical Insights & Consulting, The Australia Gas Turbine Market Size Is Anticipated To Reach USD 1390.3 Million By 2035, Growing At A CAGR Of 5.73% From 2025 To 2035. The gas turbine market in Australia is driven by increased demand for electricity, the growth of natural gas power generation, the integration of renewable energy sources that necessitate backup capacity, the development of industrial infrastructure, and investments in low-emission, efficient power generation technologies.

Market Overview

The Australia gas turbine market refers to the industry that handles the complete process of manufacturing, installing and servicing gas turbines that produce power and drive mechanical systems. Gas turbines operate by transforming natural gas and other fuels into electrical power and mechanical energy. Australian industries use gas turbines in power plants, oil and gas operations and mining, aviation and industrial facilities to provide dependable, efficient and adaptable energy solutions that meet their peak demand needs.

The Australian Government supports gas turbine development through hydrogen and gas power initiatives. The government allocated A$24.9 million to develop infrastructure for hydrogen-ready gas systems. The Whyalla Hydrogen Power Plant project in South Australia and the Queensland gas peaking plant project, which receives subsidies, aim to improve grid dependability and energy protection while advancing the use of low-emission hydrogen-powered gas turbines throughout Australia.

The Australia gas turbine market has experienced recent advancements through two major developments, which involve power plants increasing their use of advanced high-efficiency turbines and utility companies partnering with equipment manufacturers to enhance their operational performance and emission control systems. The companies are currently focusing their investments on developing hybrid gas-renewable power systems, together with conducting pilot tests for hydrogen blending technology. Australia will develop future opportunities through its implementation of low-carbon turbine technologies, grid flexibility solutions, and infrastructure upgrades, which support the country's energy transition.

Report Coverage

This research report categorizes the market for the Australia gas turbine market based on various segments and regions, and forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Australia gas turbine market. Recent market developments and competitive strategies, such as expansion, product launch, development, partnership, merger, and acquisition, have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Australia gas turbine market.

Driving Factors

The gas turbine market in Australia is driven by the increasing electricity demand, the rising use of natural gas for cleaner energy production, and the shift from coal power to lower-emission energy sources. The market experiences growth because of increasing investments in combined cycle gas turbine CCGT plants, the expansion of LNG infrastructure, and the requirement for flexible backup power systems, which enable renewable energy system integration. Industrial expansion and energy security problems also create important impacts on the situation.

Restraining Factors

The gas turbine market in Australia is mostly constrained by the high initial capital costs, natural gas price variations, environmental regulation requirements, and the fast development of solar and wind renewable energy technologies that decrease the need for traditional gas power generation.

Market Segmentation

The Australia gas turbine market share is classified into technology and application.

• The combined cycle gas turbine segment accounted for the largest revenue market share in 2024 and is expected to grow at a significant CAGR during the forecast period. 

The Australia gas turbine market is segmented by technology into combined cycle gas turbine, and open cycle gas turbine. Among these, the combined cycle gas turbine segment accounted for the largest revenue market share in 2024 and is expected to grow at a significant CAGR during the forecast period. In comparison to open cycle systems, CCGT systems greatly increase efficiency (by up to 60% or more) by generating electricity utilizing both gas and steam turbines. They are perfect for large-scale power generation and grid stability in Australia due to their increased efficiency, lower fuel consumption, and lower emissions, which support the country's decarbonization objectives and rising electricity demand.

• The power generation segment dominated the share in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period. 

The Australia gas turbine market is segmented by application into oil & gas, process plants, aerospace, power generation, and marine. Among these, the power generation segment dominated the share in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period. Large-scale power facilities frequently use gas turbines to generate electricity in a dependable, adaptable, and efficient manner. The deployment of gas turbines, especially for peak load support and backup power, has expanded due to Australia's increasing energy demand, integration of renewable energy sources, and need for grid stability. This has led to the domination of the power generation segment.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Australia Gas Turbine market, along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborate analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• GE Aviation Australia
• Siemens Energy Australia
• MAN, Energy Solutions Australia
• Rolls-Royce Australia
• Ansaldo Energia Australia
• MTU Australia
• Ener Flex Limited
• Cochran Australia
• Alstom Australia
• Wartsila Australia
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments:

• In February 2026, using GE Vernova's cutting-edge aeroderivative technology, South Australia secured a first-of-its-kind project to install 100% hydrogen-capable gas turbines at the Whyalla hydrogen power plant, supporting renewable grid firming.

• In October 2025, to provide up to 112 MW of energy with fuel-flexible operation, QPM Energy bought two GE Vernova LM6000 aeroderivative gas turbine packages for its Isaac Power Station.

• In March 2025, Woodside Energy and ExxonMobil Australia authorized the A$350 million Turrum Phase 3 gas project in the Gippsland Basin, bolstering the gas supply for industrial and power generation.

Market Segment

This study forecasts revenue at the Australia, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the Australia gas turbine market based on the below-mentioned segments:

Australia Gas Turbine Market, By Technology

• Combined Cycle Gas Turbine
• Open Cycle Gas Turbine

Australia Gas Turbine Market, By Application

• Oil & Gas
• Process Plants
• Aerospace
• Power Generation
• Marine