Europe Gas Turbine Market Size & Outlook, 2023-2030
Europe gas turbine market, 2018-2030 (US$M)
Related Markets
Europe gas turbine market highlights
- The Europe gas turbine market generated a revenue of USD 2,563.2 million in 2023.
- The market is expected to grow at a CAGR of 2.9% from 2024 to 2030.
- In terms of segment, combined cycle was the largest revenue generating technology in 2023.
- Combined Cycle is the most lucrative technology segment registering the fastest growth during the forecast period.
- Country-wise, Italy is expected to register the highest CAGR from 2024 to 2030.
Europe data book summary
| Market revenue in 2023 | USD 2,563.2 million |
| Market revenue in 2030 | USD 3,138.5 million |
| Growth rate | 2.9% (CAGR from 2023 to 2030) |
| Largest segment | Combined cycle |
| Fastest growing segment | Combined Cycle |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Open Cycle, Combined Cycle |
| Key market players worldwide | Ansaldo Energia, GE Aerospace, Kawasaki Heavy Industries Ltd, ManpowerGroup Inc, Mitsubishi Corp, Opera Ltd ADR, Siemens AG, Caterpillar Inc |
Other key industry trends
- In terms of revenue, Europe region accounted for 25.2% of the global gas turbine market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- North America is the fastest growing regional market and is projected to reach USD 4,142.2 million by 2030.
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Gas Turbine Market Scope
Gas Turbine Market Companies
| Name | Profile | # Employees | HQ | Website |
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Europe gas turbine market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to gas turbine market will help companies and investors design strategic landscapes.
Combined cycle was the largest segment with a revenue share of 92.26% in 2023. Horizon Databook has segmented the Europe gas turbine market based on open cycle, combined cycle covering the revenue growth of each sub-segment from 2018 to 2030.
Rising population is a major factor significantly impacting the power generation market in Europe. Growth in population and GDP are projected to attract various end-use industry players looking to expand their consumer base in the region.
The major end-users for gas turbines in Europe include power generation, oil & gas, mobility, petrochemicals, food processing, and pulp & paper industries. However, rising focus on developing renewable sources of power generation is projected to negatively impact the gas turbine market over the coming years.
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Our clientele includes a mix of gas turbine market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of continent-level data and insights on the Europe gas turbine market , including forecasts for subscribers. This continent databook contains high-level insights into Europe gas turbine market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Europe gas turbine market size, by country, 2018-2030 (US$M)
Europe Gas Turbine Market Outlook Share, 2023 & 2030 (US$M)
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