Key Market Indicators
Japan's gas turbine imports are projected to surge to approximately $9.4 billion by 2028, up from around $8.2 billion in 2023. This growth represents a compound annual growth rate (CAGR) of 2.2%. Notably, Japanese demand for gas turbines has remained stable since 1993, showing no significant year-on-year decrease. On the export front, Japan is expected to see its gas turbine exports rise to about $6.4 billion by 2028, an increase from roughly $5.7 billion in 2023. This equates to an average annual growth rate of 1.9%. Japan's gas turbine supply has been on an upward trajectory, growing by 1.7% year-on-year since 1993. In 2023, Japan held the seventh position in global gas turbine exports, with Canada leading at approximately $5.7 billion. France, Singapore, and Germany occupied the second, third, and fourth spots, respectively.
