Europe Gas Turbine Market

Market Introduction

Gas Turbine is an internal combustion engine comprising combustion chambers that releases expanding gases, which further drive the blades of a turbine. The gas turbine converts natural gas and other liquids into mechanical energy. This energy then fuels generators to produce electrical energy. The various advantages associated with gas turbines are high power to weight ratio and low operations pressure. Despite being small in size, the gas turbines possess a high power rating. They reduce carbon emissions and release fewer emissions into the air as compared to other engines. Thus, the growth in the substitution of coal and nuclear driven turbines are expected to create a significant demand for gas turbines in the coming years, which is further anticipated to drive the gas turbine market.

Europe Gas Turbine Strategic Insights

Strategic insights for the Europe Gas Turbine provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Europe Gas Turbine Report Scope

Europe Gas Turbine Regional Insights

The geographic scope of the Europe Gas Turbine refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

The gas turbine market in Europe is expected to grow from US$ 5,011.4 Mn in 2018 to US$ 6,625.6 Mn by 2027; it is estimated to grow at a CAGR of 3.2% from 2019 to 2027. In the aviation industry, the gas turbines propulsion systems are used to power almost all the commercial and military airplanes. It is projected that in the next 20 years, more than 40,000 new aircraft with gas turbines will be produced. Gas turbines power the oil and gas industry all along the value chain.  Gas turbines today have a well-established operational efficiency, power density, and reliability. Besides, the excess solar energy and wind energy can be used to produce hydrogen as an energy storage mechanism that will further be burned in gas turbines for electricity production. As per the above-stated trends, the gas turbine industry will continue to play a crucial role in the generation of electricity, aircraft propulsion and in the oil and gas industries in the decades to come. This is bolstering the growth of the gas turbine market.

Key Market Segments

In terms of technology, the combined cycle segment accounted for the largest share of the Europe gas turbine market in 2018. In terms of capacity, the 120-300 MW capacity segment held a larger market share of the gas turbine market in 2018. Further, the power generation segment held a larger share of the market based on application in 2018.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the gas turbine market in Europe are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Ansaldo Energia S.p.A., General Electric Company, Harbin Electric Company Limited, Kawasaki Heavy Industries, Ltd., Man Energy Solutions, Mitsubishi Hitachi Power Systems, Ltd., Siemens AG, Solar Turbines Incorporated, Wärtsilä Corporation, and Bharat Heavy Electricals Limited (BHEL) among others.

Reasons to buy report

• To understand the Europe gas turbine market landscape and identify market segments that are most likely to guarantee a strong return
• Stay ahead of the race by comprehending the ever-changing competitive landscape for Europe gas turbine market
• Efficiently plan M&A and partnership deals in Europe gas turbine market by identifying market segments with the most promising probable sales
• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form Europe gas turbine market
• Obtain market revenue forecast for market by various segments from 2019-2027 in Europe region.

EUROPE GAS TURBINE MARKET SEGMENTATION

By Technology

• Open Cycle
• Combined Cycle

By

Capacity

• Below 40 MW
• 40-120 MW
• 120-300 MW
• Above 300 MW

By

Application

• Power Generation
• Oil and Gas
• Industrial

By Country

• Germany
• France
• Italy
• UK
• Russia
• Rest of Europe

Company Profiles

• Ansaldo Energia S.p.A.
• General Electric Company
• Harbin Electric Company Limited
• Kawasaki Heavy Industries, Ltd.
• Man Energy Solutions
• Mitsubishi Hitachi Power Systems, Ltd.
• Siemens AG
• Solar Turbines Incorporated
• Wärtsilä Corporation
• Bharat Heavy Electricals Limited (BHEL)