Key Market Indicators
Saudi Arabia's gas turbine imports are projected to rise slightly, reaching approximately $871 million by 2028, up from about $869 million in 2023. This marks a modest annual growth rate of 0.1%. Over the past decades, since 1996, the demand for gas turbines in Saudi Arabia has seen a yearly increase of 1%. On the export front, Saudi Arabia's gas turbine exports are expected to surge to around $563 million by 2028, up from nearly $448 million in 2023. This represents a compound annual growth rate (CAGR) of 3.6%. The country's supply of gas turbines has been on a consistent upward trajectory, recording a 5% year-on-year increase since 1996. As of 2023, Saudi Arabia ranked 26th globally in gas turbine exports. Latvia slightly outpaced Saudi Arabia with exports valued at $448 million. France, Singapore, and Germany occupied the second, third, and fourth positions, respectively, in the international rankings.
