Europe Industrial Gas Turbine Market Size - By Capacity (≤ 70 MW, > 70 MW - 300 MW, ≥ 300 MW), By Product (Aero-Derivative, Heavy Duty), By Technology, By Application, By Country Outlook & Forecast, 2024 – 2032

Europe Industrial Gas Turbine Market Size

Europe Industrial Gas Turbine Market was valued at USD 1.8 billion in 2023 and is estimated to grow at a CAGR of over 5% from 2024 to 2032. The increasing electricity demand favored by ongoing industrialization, increasing population & economic growth will positively sway the industry potential.

An industrial gas turbine is a type of turbine used for generating mechanical energy or electricity in various industrial applications. These turbines operate on the principle of converting the energy stored in a fuel into mechanical energy, which is then used to drive a generator to produce electricity or to power machinery directly. They offer high power output, efficiency, and flexibility, making them suitable for a wide range of areas.
 

Europe Industrial Gas Turbine Market Trends

Surging adoption of energy-efficient generation technologies along with rising utilization of generated heat will fuel the gas turbine market. In addition, increasing government focus to limit carbon emissions coupled with ongoing modernization grid infrastructure will positively influence the industry landscape. Increasing government focus to increase the share of renewable energy in electricity generation in line with rising electricity demand will accelerate the business potential.
 

Europe Industrial Gas Turbine Market Analysis

The combined cycle industrial gas turbine market is set to surpass USD 2.5 billion by 2032. Growing adoption of combined heat & power systems along with resurgent industrial proliferation will enhance the product deployment. Rising energy demand coupled with stabilization of gas prices is set to institute a favorable industry scenario. This technology offers key advantages including high performance and excellent efficiency, stimulating the business growth.
 

The aeroderivative gas turbine market size will witness growth rate of over 5% through 2032. Growing integration of captive-generating stations to suffice the electricity demand across industrial establishments will augment the product demand. Stringent regulatory mandates on limiting carbon emissions and energy optimization will augment the business landscape. Additionally, paradigm shift from conventional resources toward the integration of sustainable energy systems will positively impact the business landscape.
 

The UK industrial gas turbine market will exceed USD 350 million by 2032. Growing environmental concerns along with increasing emphasis on reducing emissions from industrial processes will augment the business landscape. Ongoing refurbishment of power infrastructures by investing in gas-fired distributed energy will support gas power generation,  accelerating the industry growth. Furthermore, increasing replacements of oil-fired power plants with natural gas-fired power plants will significantly propel the product penetration.
 

Europe Industrial Gas Turbine Market Share

Kawasaki Heavy Industries manufactures a variety of industrial gas turbines tailored for different applications, including power generation, cogeneration, and mechanical drive. These turbines are designed to deliver high efficiency, reliability, and flexibility in operation. The company is known for its cutting-edge technology and continuous innovation in gas turbine design and manufacturing. The company invests heavily in research and development to enhance turbine performance, reduce emissions, and improve overall efficiency.
 

Europe Industrial Gas Turbine Market Companies

Some major players operating in the Europe industrial gas turbine industry is mentioned below:

• Ansaldo Energia
• Baker Hughes Company
• Bharat Heavy Electricals Limited (BHEL)
• Capstone Green Energy Corporation
• Destinus Energy
• Doosan Enerbility
• Flex Energy Solutions
• General Electric
• Harbin Electric Corporation Co., Ltd.
• Kawasaki Heavy Industries, Ltd.
• MAN Energy Solutions
• Mitsubishi Heavy Industries Ltd.
• Rolls Royce Plc
• Siemens Energy
• Solar Turbines Incorporated
• VERICOR
• Wartsila
• Zorya-Mashproekt
   

Europe Industrial Gas Turbine Industry News

• In October 2023, Siemens has recently declared a significant milestone within the HYFLEXPOWER initiative, showcasing the successful operation of a gas turbine solely fueled by renewable hydrogen. This French-led project marks a substantial leap forward in decarbonizing energy-intensive sectors, as it involves the production, storage, and utilization of renewable hydrogen to drive a Siemens Energy gas turbine. Supported by funding from the European Commission, this pioneering endeavor aims to explore avenues for commercialization and expand its scope to encompass the generation of industrial heat and various other applications.
   
• In September 2023, Kawasaki Heavy Industries launched their GPB17MMX gas turbine cogeneration system, which has a 1.8 MW class and the world's first combustor designed for dry combustion powered entirely by hydrogen. The technology uses a patented blend of supplemental combustion and micromix combustion to overcome the technical issues with hydrogen fuel, including elevated NOx emissions and hob overheating. This makes it possible to burn hydrogen steadily with NOx emissions that are below the upper limit that is allowed.
   

This Europe industrial gas turbine market research report includes in-depth coverage of the industry with estimates & forecast in terms of “MW” & “USD Million” from 2019 to 2032, for the following segments:

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Market, By Capacity

• ≤ 70 MW
• > 70 MW - 300 MW
• ≥ 300 MW

Market, By Product

• Aero-Derivative
• Heavy Duty

Market, By Technology

• Open Cycle
• Combined Cycle

Market, By Application

• Power Generation
• Oil & Gas
• Other Manufacturing

The above information has been provided for the following regions and country:

• UK
• Russia
• Italy
• Germany
• France