Europe Middle East And Africa (EMEA) Gas Turbines Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Gas Cycle, Combined Cycle, Cogeneration), By Power Rating (<100 MW, >100 MW - <300 MW, >300 MW), By Application (Power Generation, Oil & Gas, Others), And By Country - Forecasts From 2022 To 2027

Published:  Oct 2022 Report Code: KSI061610126 Pages: 120

The European Middle East and Africa (EMEA) Gas Turbines market is projected to grow at a CAGR of 3.77% to reach US$10.585 billion by 2027, from US$8.168 billion in 2020.

Gas turbines are used, among others, in the aviation industry to turn the compressor, and in manufacturing plants to produce power and run mechanical drives. An increase in the number of manufacturing plants or capacity is fueling the demand for energy and hence gas turbines. Improved efficiency and high reliability at a low capital cost are major reasons for the rising demand for gas turbines. The gas turbine plant can be run in a shorter time, and it requires less water as compared to other alternatives (like condensing steam plants). Effective waste heat brings an added advantage to the use of gas turbines. But, due to government regulations towards achieving a renewable means of manufacturing and a safer environmental condition for workers, the Gas Turbine Market stands to face roadblocks in its growth. Emission control norms and rising gas prices are expected to hamper the growth of the market.                    

The growing adoption of energy-efficient technologies coupled with a declining dependence on coal-fired power plants at the global level is contributing to the market growth of the EMEA Gas Turbine Market in the forecast period.

Rising industrialization, urbanization, and henceforth growing income are driving the demand for an uninterrupted power supply to sustain the needs of the region.  Meeting the growing need for electricity while keeping a check on emissions, is expected to shift focus to natural gas-fired power plants. The technological innovations in gas turbines are expected to bring a positive change to the use of gas turbines. Apart from the uses of gas turbines in the air and on land, they are also being used in the sea as mechanical drive gas turbines.

The aviation sector is expected to witness a substantial rise in the use of gas turbines due to increasing investments and rising air travel. There is a newly emerging sector that would drive the growth of gas turbines, which is aerospace. The number of diverse applications of gas turbines is on a rise, which is the major contributor to the growth of this industry.

The Central and Eastern Europe region is expected to show higher growth prospects in the forecast period. The rising number of innovations and projects being carried out in power generation and, the replacement of obsolete and depreciated equipment across regions in Europe and the Middle East are expected to boost the demand for gas turbines in this region. EMEA region is also witnessing hefty investments in power generation and oil and gas sectors. This is driving the growth of the gas turbine market. The rising population and increasing consumption of electricity are strengthening the demand for this market in this region. Though renewable energy is becoming a new trend, it cannot meet the rising demand for energy.

Key Development

  • In June 2020, Bake Hughes the largest oil field service company and a Member of EUTurbine an association of European gas and steam turbine manufacturers announced its successful completion of the First Engine to Test (FETT) for LM9000 gas turbine technology. This marks a crucial milestone for the innovative LM9000 gas turbine technology, owing to its simple life cycle efficiency and higher power output compared to industry peers. 
  • In March 2021, Siemens Energy and Cyfield Construction Ltd. collaborated to support more cleaner and efficient energy production on the island of Cyprus, (Middle East). Siemens Energy supported this transition by providing technology and long-term service for the 260mw Cyfield Mari combined-cycle power plant. With Siemens Energy’s SGT-800 gas turbine technology, the power plant expects the highest efficiency in the power plant range.

COVID-19 Impact on Europe Middle East and Africa (EMEA) Gas Turbines Market

The pandemic had a significant impact on Europe, the Middle East, and Africa’s Gas Turbine market owing to the fall in the demand for oil and gas, and electricity during this period across this region. The less demand for electricity was triggered by the temporary shutdowns of industries due to government restrictions and lockdowns. However, the use of renewable energy and its production increased in the European Union during the pandemic (Source: IEA COVID-19 Impact on Electricity report, January 2021).

Europe Middle East and Africa (EMEA) Gas Turbines Market Scope:

 

Report Metric Details
 Market Size Value in 2020  US$8.168 billion
 Market Size Value in 2027  US$10.585 billion
 Growth Rate  CAGR of 3.77% from 2020 to 2027
 Base Year  2020
 Forecast Period  2022–2027
 Forecast Unit (Value)  USD Billion
 Segments Covered  Type, Power Rating, Application, And Country
 Regions Covered  United Kingdom, Germany, France, Spain, Denmark, Saudi Arabia, Others
 Companies Covered Siemens AG, General Electric, Mitsubishi Power Ltd., Toshiba Corporation, ABB, Baker Hughes, Ansaldo Energia S.p.A., Centrax Gas Turbines, Man Energy Solutions
 Customization Scope  Free report customization with purchase

 

Segmentation:

  • By Type
    • Gas Cycle
    • Combined Cycle
    • Cogeneration
  • By Power Rating
    • <100 MW
    • >100 MV- <300 MV
    • >300 MW
  • By Application
    • Power Generation
    • Oil & Gas
    • Others
  • By Country
    • United Kingdom
    • Germany
    • France
    • Spain
    • Denmark
    • Saudi Arabia
    • Others

1. Introduction

1.1. Market Introduction 

1.2. COVID-19 Scenario

1.3. Market Definition

1.4. Market Segmentation

 

2. Research Methodology

2.1. Research Data

2.2. Assumptions

 

3. Executive Summary

3.1. Research Highlights

 

4. Market Dynamics

4.1. Market Drivers

4.2. Market Restraints

4.3. Porters Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

 

5. Europe Middle East and Africa (EMEA) Gas Turbines Market Analysis, by Type

5.1. Introduction

5.2. Gas Cycle

5.3. Combined Cycle

5.4. Cogeneration

5.5. Others

 

6. Europe Middle East and Africa (EMEA) Gas Turbines Market Analysis, by Power Rating

6.1. Introduction

6.2. <100 MW

6.3. >100 MV- <300 MV

6.4. >300 MV

 

7. Europe Middle East and Africa (EMEA) Gas Turbines Market Analysis, by Application

7.1. Introduction

7.2. Power Generation

7.3. Oil & Gas

7.4. Others

 

8. Europe Middle East and Africa (EMEA) Gas Turbines Market Analysis, by Country

8.1. Introduction

8.2. United Kingdom

8.3. Germany

8.4. France

8.5. Spain

8.6. Denmark

8.7. Saudi Arabia

8.8. Others

 

9. Competitive Environment and Analysis

9.1. Major Players and Strategy Analysis

9.2. Emerging Players and Market Lucrativeness

9.3. Mergers, Acquisitions, Agreements, and Collaborations

9.4. Vendor Competitiveness Matrix

 

10. Company Profiles 

10.1. Siemens AG

10.2. General Electric

10.3. Mitsubishi Power Ltd.

10.4. Toshiba Corporation

10.5. ABB

10.6. Baker Hughes

10.7. Ansaldo Energia S.p.A.

10.8. Centrax Gas Turbines

10.9.  Man Energy Solutions

Siemens AG

General Electric

Mitsubishi Power Ltd.

Toshiba Corporation

ABB

Baker Hughes

Ansaldo Energia S.p.A.

Centrax Gas Turbines

Man Energy Solutions

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