Key Market Indicators
**Indian Gas Turbine Exports Projected to Surge by 2028** India's gas turbine exports are forecasted to climb to approximately $5.5 billion by 2028, up from around $4.2 billion in 2023. This reflects an average annual growth rate of 4.2%. Since 1993, the country's gas turbine supply has seen a steady annual increase of 3.7%. In 2023, India ranked 11th in global gas turbine exports, with Brazil surpassing it, achieving exports also valued at approximately $4.2 billion. Notably, France, Singapore, and Germany secured the second, third, and fourth positions, respectively. **Rising Imports of Gas Turbines in India** On the import front, India's gas turbine imports are expected to reach nearly $4.7 billion by 2028, growing from about $3.7 billion in 2023. This marks a compound annual growth rate (CAGR) of 3.7%. Since 1993, India's demand for gas turbines has risen at an annual rate of 4.3%. These projections underscore India's expanding role in the global gas turbine market, both as an exporter and an importer, highlighting significant growth and increased demand in the sector.
