Single Shaft Turbine Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented, By Type (Gas Turbines, Steam Turbines, Hydraulic Turbines, Wind Turbines, and Others), By Power Rating (Up to 50 MW, 50-100 MW, 100-300 MW, 300-500 MW, 500-700 MW, Above 700 MW, and Others), By End-User Industry (Power Generation, Oil & Gas, Industrial, Aviation, Marine, and Others), By Application (Power Plants, Oil & Gas Industry, Chemical Industry, Steel Industry, Mining Industry, Aviation, and Marine), By Region, By Competition, 2021-2031F

Forecast Period	2027-2031
Market Size (2025)	USD 3.44 Billion
CAGR (2026-2031)	5.67%
Fastest Growing Segment	Steam Turbines
Largest Market	North America
Market Size (2031)	USD 4.79 Billion

Market Overview

The Global Single Shaft Turbine Market will grow from USD 3.44 Billion in 2025 to USD 4.79 Billion by 2031 at a 5.67% CAGR. The Global Single Shaft Turbine Market is defined by the widespread adoption of heavy-duty turbine configurations where the compressor, rotor, and power output section share a continuous shaft, primarily utilized for constant-speed power generation. The market is fundamentally driven by the escalating global necessity for reliable baseload electricity and the critical need for grid inertia to balance the expansion of intermittent renewable energy sources. Furthermore, the industrial sector’s increasing reliance on high-efficiency combined heat and power (CHP) systems acts as a robust catalyst for the deployment of these thermally efficient units.

However, the market faces a significant impediment in the form of fuel price volatility, which can disrupt operational economics and delay capital-intensive infrastructure projects. According to the 'International Gas Union', in '2024', 'global natural gas demand increased by 1.9% to reach 4,122 billion cubic meters, with the power generation sector maintaining its position as the largest consumer'. This heavy dependency on natural gas supply dynamics highlights the vulnerability of the single shaft turbine market to fluctuating feedstock costs, potentially restraining future capacity investments.

Key Market Drivers

Escalating global electricity consumption and urbanization are the primary engines propelling the Global Single Shaft Turbine Market. As emerging economies industrialize and urban populations densify, the necessity for reliable, high-capacity baseload power generation has intensified, necessitating the robust grid inertia that heavy-duty single shaft turbines provide. This demand surge is directly translating into record procurement activities for turbine manufacturers as utilities rush to secure dispatchable power. For instance, according to Turbomachinery Magazine, April 2025, GE Vernova booked 22 GW of gas turbine orders in 2024, reflecting the critical role of gas-fired generation in meeting load requirements. Furthermore, the integration of these turbines supports grid stability by offsetting the intermittency of expanding renewable energy infrastructure. According to the International Energy Agency, April 2025, global electricity demand rose by 4.3% in 2024, underscoring the urgent need for the rapidly deployable capacity that these systems offer.

Concurrently, the market is being reshaped by the accelerated adoption of single-shaft combined cycle power plants, driven by their superior thermal efficiency and compact footprint. This configuration, which couples the gas turbine and steam turbine to a common generator, significantly reduces construction complexity and capital expenditures compared to multi-shaft alternatives. This architectural advantage is particularly valuable for space-constrained projects requiring high power density without compromising output. A testament to this trend is the successful deployment of large-scale single-shaft infrastructure in key growth regions. According to Mitsubishi Power, October 2024, the company completed the construction of eight M701JAC units for a 5,300 MW single-shaft combined cycle project in Thailand, demonstrating the growing preference for this streamlined configuration in major industrial hubs.

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Key Market Challenges

Fuel price volatility constitutes a severe obstruction to the progress of the Global Single Shaft Turbine Market, fundamentally destabilizing the financial models necessary for capital-intensive power projects. Because these heavy-duty turbines are intrinsic to natural gas-fired baseload generation, rapid oscillations in fuel costs render operational expenses unpredictable, thereby elevating the Levelized Cost of Electricity (LCOE) and diminishing the asset's competitive edge against renewable alternatives. Utility companies and independent power producers consequently face heightened financial risk, often resulting in the postponement of capacity additions as they struggle to forecast long-term returns in an erratic pricing environment.

This economic strain is evident in recent consumption trends which signal a retraction in market activity due to instability. According to the 'Gas Exporting Countries Forum', in '2025', 'natural gas consumption in the European Union fell by 2.6% year-on-year in November, reflecting persistent structural weakness in demand partially attributed to market instability'. Such data illustrates the direct correlation between feedstock volatility and reduced reliance on gas-dependent infrastructure, limiting the growth trajectory for single shaft turbine deployments.

Key Market Trends

The integration of hydrogen-ready combustion capabilities is reshaping single shaft turbine engineering as manufacturers redesign combustors to accommodate the distinct thermal properties of low-carbon fuels. This technological shift allows operators to future-proof heavy-duty assets against strict decarbonization policies by enabling a transition from natural gas to hydrogen without machinery replacement. Highlighting this trend, according to Mitsubishi Power, November 2025, in the 'Mitsubishi Power Receives Second H-25 Gas Turbine Order for Chang Chun Petrochemical's Miaoli Factory in Taiwan' press release, the company secured a contract for H-25 turbines capable of ammonia co-firing. This deal reflects the growing industrial demand for chemically flexible turbine architectures that maintain reliability.

Simultaneously, the sector is prioritizing retrofitting existing fleets for carbon capture compatibility to extend asset life under new environmental standards. Utilities are installing post-combustion capture technologies on single shaft units, retaining the critical grid inertia of heavy-duty rotors while lowering emissions. This activity is evident as, according to Carbon Capture Magazine, December 2025, in the article 'Capsol Technologies Signs MoU With U.S. Utility to Advance Low-Carbon Gas Power Project', Capsol Technologies agreed to deploy its CapsolGT system, which captures over 95% of CO2 emissions from simple-cycle turbines. Such initiatives demonstrate a commitment to decarbonizing dispatchable generation rather than retiring it.

Segmental Insights

The Steam Turbines segment is currently recognized as the fastest-growing category within the Global Single Shaft Turbine Market, driven by the accelerating adoption of Combined Cycle Gas Turbine (CCGT) plants and industrial cogeneration systems. This growth is primarily attributed to the operational advantages of single-shaft configurations, which offer superior thermal efficiency and a smaller physical footprint compared to multi-shaft alternatives. Furthermore, stringent global sustainability protocols monitored by institutions such as the International Energy Agency (IEA) are incentivizing the transition toward these highly efficient power generation methods, thereby fueling the rapid expansion of the steam turbine segment.

Regional Insights

North America holds a leading position in the single shaft turbine market, driven by the widespread modernization of power generation infrastructure. The shift toward combined cycle natural gas plants favors single shaft configurations for their reduced physical footprint and thermal efficiency. This demand is reinforced by strict environmental policies from the U.S. Environmental Protection Agency, which compel utility providers to adopt cleaner energy technologies. Furthermore, the established industrial base in the region prioritizes reliable cogeneration systems, ensuring consistent investment in single shaft turbine solutions to meet ongoing energy security needs.

Recent Developments

• In November 2025, China's first domestically developed 1,500-degree Celsius single-shaft heavy-duty gas turbine commenced full-capacity operation in Chongqing Municipality. The project, located in the Jiangjin District, features two 546.8 MW units with a total installed capacity of approximately 1,093 MW. Utilizing improved F-class technology with over 90 percent locally manufactured equipment, the turbine achieved a combined cycle efficiency of 61.74 percent. This milestone represents a significant breakthrough in the country's high-end power equipment manufacturing sector, meeting strict national emission standards while enhancing regional energy reliability.
• In September 2025, GE Vernova and the Electricity Supply Board (ESB) of Ireland announced a major modernization project for the Dublin Bay power plant to extend its operational life and improve performance. The facility, which utilizes a single-shaft GT26 gas turbine, is set to receive a High Efficiency (HE) upgrade along with advanced static excitation and startup frequency converter technologies. The initiative aims to increase the plant's output by up to 30 MW and improve baseload efficiency by approximately 1.8 percent, thereby supporting Ireland's energy transition and decarbonization goals.
• In October 2024, Mitsubishi Power completed the construction of the eighth and final M701JAC unit for a massive 5,300 MW natural gas-fired power plant project in Thailand. The project, a joint venture between Gulf Energy Development and Mitsui & Co., comprises two power stations in Chonburi and Rayong provinces, each equipped with four single-shaft combined cycle blocks. This development marked the full commercial operation of the facility, which integrates high-efficiency gas turbines, steam turbines, and heat recovery steam generators to provide a stable electricity supply for the region's industrial hubs.
• In June 2024, Siemens Energy signed a contract worth USD 1.5 billion to supply advanced HL-class gas turbines for the Taiba 2 and Qassim 2 combined cycle power plants in Saudi Arabia. The agreement, executed in partnership with China Energy International Group, involves the delivery of key power island technologies for the two facilities, which will have a combined generation capacity of nearly 4 GW. The projects are designed to operate initially in simple cycle mode before converting to a highly efficient combined cycle configuration, contributing to the Kingdom's goal of modernizing its power generation infrastructure.

Key Market Players

• Toshiba Corporation
• Harbin Electric Corporation
• Bharat Heavy Electricals Limited
• Hitachi Limited
• Kirloskar Brothers Limited
• Ansaldo Energia S.p.A.
• ANDRITZ AG
• Siemens AG
• GE Vernova Group
• Voith GmbH & Co. KGaA

By Type	By Power Rating	By End-User Industry	By Application	By Region
Gas Turbines Steam Turbines Hydraulic Turbines Wind Turbines Others	Up to 50 MW 50-100 MW 100-300 MW 300-500 MW 500-700 MW Above 700 MW Others	Power Generation Oil & Gas Industrial Aviation Marine Others	Power Plants Oil & Gas Industry Chemical Industry Steel Industry Mining Industry Aviation Marine	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global Single Shaft Turbine Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Single Shaft Turbine Market, By Type:

• Gas Turbines
• Steam Turbines
• Hydraulic Turbines
• Wind Turbines
• Others

• Single Shaft Turbine Market, By Power Rating:

• Up to 50 MW
• 50-100 MW
• 100-300 MW
• 300-500 MW
• 500-700 MW
• Above 700 MW
• Others

• Single Shaft Turbine Market, By End-User Industry:

• Power Generation
• Oil & Gas
• Industrial
• Aviation
• Marine
• Others

• Single Shaft Turbine Market, By Application:

• Power Plants
• Oil & Gas Industry
• Chemical Industry
• Steel Industry
• Mining Industry
• Aviation
• Marine

• Single Shaft Turbine Market, By Region:

• North America
• United States
• Canada
• Mexico
• Europe
• France
• United Kingdom
• Italy
• Germany
• Spain
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• South America
• Brazil
• Argentina
• Colombia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE