Europe Industrial Gas Turbine Market Analysis

Europe Industrial Gas Turbine Market Analysis

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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.