Europe Gas Turbine Market
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.
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.
| Report Attribute | Details |
|---|---|
| Market size in 2018 | US$ 5,011.4 Million |
| Market Size by 2027 | US$ 6,625.6 Million |
| Global CAGR (2019 - 2027) | 3.2% |
| Historical Data | 2016-2017 |
| Forecast period | 2019-2027 |
| Segments Covered |
By Technology
|
| Regions and Countries Covered | Europe
|
| Market leaders and key company profiles |
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.
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.
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.
The Europe Gas Turbine Market is valued at US$ 5,011.4 Million in 2018, it is projected to reach US$ 6,625.6 Million by 2027.
As per our report Europe Gas Turbine Market, the market size is valued at US$ 5,011.4 Million in 2018, projecting it to reach US$ 6,625.6 Million by 2027. This translates to a CAGR of approximately 3.2% during the forecast period.
The Europe Gas Turbine Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Gas Turbine Market report:
The Europe Gas Turbine Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Gas Turbine Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Gas Turbine Market value chain can benefit from the information contained in a comprehensive market report.
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