Delray Beach – October 19, 2026 -- The global fuel gas system market for combined-cycle power plants will grow from USD 1,410.2 million in 2026 to USD 1,837.7 million by 2031, a compound annual growth rate (CAGR) of 5.4%, according to MarketsandMarkets. The market stood at USD 1,350.0 million in 2025.
Demand is driven by more complex natural gas supply streams, variations in gas composition and stricter fuel-quality requirements. These factors raise the importance of fuel gas conditioning systems in combined-cycle gas turbine (CCGT) applications. Expanding LNG-based supply chains and gas-to-power infrastructure add to adoption of systems that handle varying supply conditions.
Large plants above 600 MW post the fastest segment growth at 5.9% CAGR
The above-600 MW capacity segment is forecast to grow at a 5.9% CAGR through 2031. Larger combined-cycle plants need fuel gas systems built for higher gas flow rates and tougher operating conditions, which raises the value and technical complexity of conditioning packages. Advanced gas turbine technologies and large projects designed for long-term supply also support the segment.
North America grows fastest while Asia Pacific holds the largest share
North America is expected to be the fastest-growing region. The US accounts for most of that growth, driven by power needs from data centers and large manufacturing facilities, plus replacement of aging generation assets. Texas and the Mid-Atlantic are lifting use of natural-gas-based generation, while pipeline expansion improves fuel availability. Canada and Mexico also contribute through gas-based generation investments.
Asia Pacific is projected to hold the largest regional share, growing at a 5.8% CAGR on industrial automation, electrification and power infrastructure investment.
Utilities lead demand; industrial captive users grow fastest
Utilities are expected to hold the largest end-user share, backed by new CCGT projects, gas-fired capacity expansion and modernization of existing facilities. Integrating variable renewable generation increases the need for assets that respond to shifts in supply and demand. Independent power producers are a significant secondary source of demand. The industrial (captive) segment is projected to register the highest CAGR. Natural gas is expected to take the largest fuel share, and integrated-skid suppliers the largest share by supplier type.
Hydrogen blending adds technical requirements and new revenue pools
Hydrogen-natural gas blends create additional requirements for managing gas composition, pressure, temperature and flow. Advances in skid design, instrumentation, control systems and gas-quality monitoring are producing more flexible, application-specific packages. Conventional natural gas-fired generation still accounts for most revenue, but revenue is shifting toward larger, more technically demanding projects and those requiring tighter fuel-quality control. Emerging power markets in Asia Pacific and the Middle East & Africa are broadening the geographic revenue base.
Investment is directed toward integrated conditioning skids, filtration and separation equipment, pressure regulation, metering, gas heating and gas-quality monitoring. Hydrogen-capable gas turbines are encouraging investment in technologies for blended fuels.
Emerson's USD 7.2 billion AspenTech deal anchors adjacent M&A
M&A is focused on gas processing, fuel conditioning, measurement and power-generation solutions. In March 2025, Emerson completed its USD 7.2 billion acquisition of the remaining stake in AspenTech, which strengthened its industrial automation and software portfolio. The report notes the transaction is broader than the fuel gas supply market.
Listed players include KROHNE Group (Germany), Emerson Electric Co. (US), Gaumer Process (US), Multitex Group (India), GENERON (US), EML Manufacturing (Ireland), Petrogas Gas Systems (Netherlands), Process Systems (France), ERGIL (Turkey) and E&CO (South Korea). They are expanding portfolios, capacity, partnerships and geographic reach.