Europe Industrial Gas Turbine Market Introduction and Overview
According to SPER Market Research, the Europe Industrial Gas Turbine Market is estimated to reach USD 3.01 billion by 2033 with a CAGR of 5.29%.
The report includes an in-depth analysis of the Europe Industrial Gas Turbine Market, including market size and trends, product mix, distribution channels, and supplier analysis. An industrial gas turbine is a kind of turbine that can be utilized in many different industrial applications to produce electricity or mechanical energy. These turbines work on the basis of transforming fuel energy into mechanical energy, which can subsequently be used to power machinery directly or to run a generator to provide electricity. They are appropriate for a variety of applications due to their high power output, versatility, and efficiency.
Market Opportunities and Challenges
Opportunities: The market is growing because gas turbine technology lowers greenhouse gas emissions. Large volumes of harmful gasses are known to be released by conventional coal-fired power plants, which also provide the majority of the heat. One of the biggest sources of pollution is coal-fired power stations. It is anticipated that throughout the next ten years, there will be a greater need for industrial gas turbines due to the growing need to find greener methods of obtaining power due to the rising emissions of greenhouse gases. Additionally, The demand for energy has increased dramatically due to factors such as the world's highest rate of growth, a thriving industrial sector, and an increase in infrastructure building activities. Countries all around the world are establishing new plants or extending the capacity of existing ones to boost their capacity to generate electricity in response to the growing demand for it.
Challenges: Growth in the market may be hampered by natural gas price volatility. A natural gas supply disruption might have an impact on natural gas pricing. Gas supply and demand are uncertain due to geopolitical conflicts, which is a disruptive element. Increased volatility in gas prices may result from this. Because of the shale gas boom, gas prices have dropped significantly in the United States, but they are still quite expensive globally. Natural gas reserves are accounted for in large part by the majority of the Middle Eastern countries. Because of political and cultural problems, the area is extremely unstable.
Market Competitive Landscape
The market for Industrial gas turbines in Europe is fairly consolidated. General Electric Company, Mitsubishi Hitachi Power Systems Ltd., Siemens AG, Kawasaki Heavy Industries Ltd., and Solar Turbines Europe SA are a few of the major participants.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Capacity, By Type, By Application
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| Regions covered | UK, France, Germany, Italy, Spain, Rest of Europe
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| Companies Covered | Ansaldo Energia SpA, General Electric Company, Harbin Electric International Company Limited, Kawasaki Heavy Industries Ltd, Man Diesel and Turbo SE, Mitsubishi Heavy Industries Ltd, Siemens AG, Solar Turbines, and others.
|
COVID-19 Impact on Europe Industrial Gas Turbine Market
The COVID-19 epidemic has had a major effect on Europe's industrial gas turbine business, posing both opportunities and challenges. At first, there was a halt to new installations and a delay in project completion in a number of industries due to the extensive disruptions in supply chains, labor shortages, and temporary closures of production facilities. The market outlook for gas turbines was further hampered by a decline in the need for energy, especially in industries like manufacturing and aviation.
Key Target Audience:
- Power Generation Companies
- Energy Infrastructure Developers
- Manufacturing Industries
- Aviation Industry
- Oil & Gas Companies
- Government Agencies and Regulatory Bodies
- Renewable Energy Developers
- Engineering and Construction Firms
Our in-depth analysis of the Europe Industrial Gas Turbine Market includes the following segments:
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By Capacity: |
1 to 40 MW
41 to 120 MW
121 to 300 MW
Above 300 MW
|
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By Type: |
Combined Cycle
Simple Cycle
|
|
By Application: |
Power
Oil and Gas
Others
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Key Topics Covered in the Report:
- Europe Industrial Gas Turbine Market Size (FY’2024-FY’2033)
- Overview of Europe Industrial Gas Turbine Market
- Segmentation of Europe Industrial Gas Turbine Market By Capacity (1 to 40 MW, 41 to 120 MW, 121 to 300 MW, Above 300 MW)
- Segmentation of Europe Industrial Gas Turbine Market By Type (Combined Cycle, Simple Cycle)
- Segmentation of Europe Industrial Gas Turbine Market By Application (Power, Oil and Gas, Others)
- Expansion Analysis of Europe Industrial Gas Turbine Market
- Problems and Obstacles in Europe Industrial Gas Turbine Market
- Competitive Landscape in the Europe Industrial Gas Turbine Market
- Impact of COVID-19 and Demonetization on Europe Industrial Gas Turbine Market
- Details on Current Investment in Europe Industrial Gas Turbine Market
- Competitive Analysis of Europe Industrial Gas Turbine Market
- Prominent Players in the Europe Industrial Gas Turbine Market
- SWOT Analysis of Europe Industrial Gas Turbine Market
- Europe Industrial Gas Turbine Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Europe Industrial Gas Turbine Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Europe Industrial Gas Turbine Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Europe Industrial Gas Turbine Market
7. Europe Industrial Gas Turbine Market, By Capacity (USD Million) 2020-2033
7.1. Europe Industrial Gas Turbine Market Size, Share and Forecast, By Capacity, 2020-2026
7.2. Europe Industrial Gas Turbine Market Size, Share and Forecast, By Capacity, 2027-2033
7.3. 1 to 40 MW
7.4. 41 to 120 MW
7.5. 121 to 300 MW
7.6. Above 300 MW
8. Europe Industrial Gas Turbine Market, By Type (USD Million) 2020-2033
8.1. Europe Industrial Gas Turbine Market Size, Share and Forecast, By Type, 2020-2026
8.2. Europe Industrial Gas Turbine Market Size, Share and Forecast, By Type, 2027-2033
8.3. Combined Cycle
8.4. Simple Cycle
9. Europe Industrial Gas Turbine Market, By Application (USD Million) 2020-2033
9.1. Europe Industrial Gas Turbine Market Size, Share and Forecast, By Application, 2020-2026
9.2. Europe Industrial Gas Turbine Market Size, Share and Forecast, By Application, 2027-2033
9.3. Power
9.4. Oil and Gas
9.5. Others
10. Europe Industrial Gas Turbine Market Forecast, 2020-2033 (USD Million)
10.1. Europe Industrial Gas Turbine Market Size and Market Share
11. Europe Industrial Gas Turbine Market, By Region, 2020-2033 (USD Million)
11.1. Europe Industrial Gas Turbine Market Size and Market Share By Region (2020-2026)
11.2. Europe Industrial Gas Turbine Market Size and Market Share By Region (2027-2033)
11.3. France
11.4. Germany
11.5. Italy
11.6. United Kingdom
11.7. Rest of Europe
12. Company Profile
12.1. Ansaldo Energia SpA
12.1.1. Company details
12.1.2. Financial outlook
12.1.3. Product summary
12.1.4. Recent developments
12.2. Bharat Heavy Electricals Limited
12.2.1. Company details
12.2.2. Financial outlook
12.2.3. Product summary
12.2.4. Recent developments
12.3. General Electric Company
12.3.1. Company details
12.3.2. Financial outlook
12.3.3. Product summary
12.3.4. Recent developments
12.4. Harbin Electric International Company Limited
12.4.1. Company details
12.4.2. Financial outlook
12.4.3. Product summary
12.4.4. Recent developments
12.5. Kawasaki Heavy Industries Ltd
12.5.1. Company details
12.5.2. Financial outlook
12.5.3. Product summary
12.5.4. Recent developments
12.6. Man Diesel and Turbo SE
12.6.1. Company details
12.6.2. Financial outlook
12.6.3. Product summary
12.6.4. Recent developments
12.7. Mitsubishi Heavy Industries Ltd
12.7.1. Company details
12.7.2. Financial outlook
12.7.3. Product summary
12.7.4. Recent developments
12.8. Siemens AG
12.8.1. Company details
12.8.2. Financial outlook
12.8.3. Product summary
12.8.4. Recent developments
12.9. Solar Turbines
12.9.1. Company details
12.9.2. Financial outlook
12.9.3. Product summary
12.9.4. Recent developments
12.10. Others
13. List of Abbreviations
14. Reference Links
15. Conclusion
16. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
