Key Market Indicators
China's gas turbine imports are projected to hit approximately $9.9 billion by 2028, rising from around $8.3 billion in 2023. This represents a compound annual growth rate (CAGR) of 2.8%. Since 1997, the demand for gas turbines in China has seen a consistent annual increase of 4.3%. On the export front, China's gas turbine shipments are expected to reach nearly $5.4 billion by 2028, up from about $4.5 billion in 2023, growing at an average annual rate of 2.7%. Since 1997, Chinese gas turbine exports have surged at an annual rate of 5.4%. In the global ranking of gas turbine exports for 2023, China held the 9th position, with the Netherlands leading the list at around $4.5 billion. France, Singapore, and Germany followed, occupying the second, third, and fourth spots respectively.
