Europe Middle East And Africa (EMEA) Gas Turbines Market Size, Share, Opportunities, And Trends By Type (Gas Cycle, Combined Cycle, Cogeneration, Others), By Power Rating (<100 MW, >100 MW - <300 MW, >300 MW), By Application (Power Generation, Oil & Gas, Others), And By Country - Forecasts From 2024 To 2029

  • Published : May 2024
  • Report Code : KSI061610126
  • Pages : 95

The Europe Middle East and Africa (EMEA) gas turbine market is predicted to expand at a CAGR of 4.19% and will reach US$11.491 billion in 2029 from US$8.620 billion in 2022.

Gas turbines finds applicability in manufacturing & power plants and aviation sector among others for producing sufficient power to 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. However, 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. Natural gas price volatility and emission control norms are further expected to pose as a market challenge.    

Market Drivers                

  • The growing shift towards energy-efficient technologies has stimulated the regional market growth.

Advancements in fuel transitioning coupled with a declining dependence on coal-fired power plants at the is contributing to the EMEA Gas turbine market growth. Additional, rapid industrialization, urbanization, and  growing income has increased demand for uninterrupted power supply thereby driving the overall market demand to sustain the needs of the region. 

Moreover, the growing shift towards electricity production through natural gas and other renewable sources is expected to positively impact the usage of modern gas turbines which will keep a constant check on emissions. Such preference coupled with technological innovations will accelerate natural gas-fired power plants usage. 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 significant growth during the forecast period.

The aviation sector will witness significant growth due to increasing investments commercial aviation where such turbines serve as an auxiliary power unit for the commercial aircrafts. They also finds applicability in powering modern choppers and military aircrafts as well. Ongoing agreement to bolster military aircraft strength coupled investments in to improve overall aircraft fuel economy.

  • Central and Eastern Europe region is expected to show higher growth prospects in the forecast period.

The ongoing investment in power generation projects coupled with collaboration and agreements formed for the repairing and replacement of outdated and obsolete power equipments across central and Eastern parts of EMEA are anticipated to drive gas turbine market demand.

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. Rapid population growth has increased the overall electricity consumption in such parts which is strengthening the demand for gas turbine in this region. Though renewable energy is becoming a new trend, it cannot meet the rising energy demand.

Key Development

  • In October 2023: The HYFLEXPOWER consortium successfully installed a gas turbine operating on 100% renewable hydrogen at the Smurfit Kappa’s Saillat-sur-Vienne’s facility in France. The consortium consisting of Siemens Energy, ENGIE Solutions, and four European universities aimed to demonstrate hydrogen usage for energy storage and use the same to operate gas turbines.
  • In June 2023: Kawasaki Gas Turbine Europe introduced its state-of-the-art technology for the production, storage, and transportation of hydrogen-based energy solution via gas turbine. The new technology represents a breakthrough in the usage of hydrogen in power & heat generation infrastructure.

Segmentation:

  • By Type
    • Gas Cycle
    • Combined Cycle
    • Cogeneration
    • Others
  • 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 Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline

1.8. Key Benefits to the stakeholder

2. RESEARCH METHODOLOGY  

2.1. Research Design

2.2. Research Processes

3. EXECUTIVE SUMMARY

3.1. Key Findings

3.2. CXO Perspective

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s 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

4.5. Analyst View

5. EUROPE MIDDLE EAST AND AFRICA (EMEA) GAS TURBINE MARKET BY TYPE

5.1. Introduction

5.2. Gas Cycle

5.2.1. Market Trends and Opportunities

5.2.2. Growth Prospects

5.2.3. Geographic Lucrativeness

5.3. Combined Cycle

5.3.1. Market Trends and Opportunities

5.3.2. Growth Prospects

5.3.3. Geographic Lucrativeness

5.4. Cogeneration

5.4.1. Market Trends and Opportunities

5.4.2. Growth Prospects

5.4.3. Geographic Lucrativeness

5.5. Others

5.5.1. Market Trends and Opportunities

5.5.2. Growth Prospects

5.5.3. Geographic Lucrativeness

6. EUROPE MIDDLE EAST AND AFRICA (EMEA) GAS TURBINE MARKET BY POWER RATING

6.1. Introduction

6.2. <100 MW

6.2.1. Market Trends and Opportunities

6.2.2. Growth Prospects

6.2.3. Geographic Lucrativeness

6.3. >100 MW - <300 MW

6.3.1. Market Trends and Opportunities

6.3.2. Growth Prospects

6.3.3. Geographic Lucrativeness

6.4. >300 MW

6.4.1. Market Trends and Opportunities

6.4.2. Growth Prospects

6.4.3. Geographic Lucrativeness

7. EUROPE MIDDLE EAST AND AFRICA (EMEA) GAS TURBINE MARKET BY APPLICATION

7.1. Introduction

7.2. Power Generation

7.2.1. Market Trends and Opportunities

7.2.2. Growth Prospects

7.2.3. Geographic Lucrativeness

7.3. Oil & Gas

7.3.1. Market Trends and Opportunities

7.3.2. Growth Prospects

7.3.3. Geographic Lucrativeness

7.4. Others

7.4.1. Market Trends and Opportunities

7.4.2. Growth Prospects

7.4.3. Geographic Lucrativeness

8. EUROPE MIDDLE EAST AND AFRICA (EMEA) GAS TURBINE MARKET BY COUNTRY

8.1. Introduction

8.2. United Kingdom

8.2.1. Market Trends and Opportunities

8.2.2. Growth Prospects

8.3. Germany

8.3.1. Market Trends and Opportunities

8.3.2. Growth Prospects

8.4. France

8.4.1 Market Trends and Opportunities

8.4.2 Growth Prospects

8.5. Spain

8.5.1. Market Trends and Opportunities

8.5.2. Growth Prospects

8.6. Denmark

8.6.1. Market Trends and Opportunities

8.6.2. Growth Prospects

8.7. Saudi Arabia

8.7.1. Market Trends and Opportunities

8.7.2. Growth Prospects

8.8. Others

8.8.1. Market Trends and Opportunities

8.8.2. Growth Prospects

9. COMPETITIVE ENVIRONMENT AND ANALYSIS

9.1. Major Players and Strategy Analysis

9.2. Market Share Analysis

9.3. Mergers, Acquisitions, Agreements, and Collaborations

9.4. Competitive Dashboard

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