Key Market Indicators
Korean gas turbine exports are projected to hit approximately $645 million by 2028, up from around $589 million in 2023. This marks an average annual growth rate of 1.4%. Since 1993, the country's supply has increased by 2.6% annually. In the global rankings for 2023, South Korea held the 24th position, with Hungary slightly ahead at the same export value of $589 million. France, Singapore, and Germany occupied the second, third, and fourth spots, respectively. On the import side, Korea's gas turbine imports are expected to reach roughly $2.27 billion by 2028, up from about $2.01 billion in 2023. This represents a compound annual growth rate (CAGR) of 1.9%. Korean demand for gas turbines has seen a 2% annual increase since 1993.
