Germany Gas Turbine Market Size & Outlook, 2023-2030
Germany gas turbine market, 2018-2030 (US$M)
Related Markets
Germany gas turbine market highlights
- The Germany gas turbine market generated a revenue of USD 663.2 million in 2023 and is expected to reach USD 789.3 million by 2030.
- The Germany market is expected to grow at a CAGR of 2.5% 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.
Gas turbine market data book summary
| Market revenue in 2023 | USD 663.2 million |
| Market revenue in 2030 | USD 789.3 million |
| Growth rate | 2.5% (CAGR from 2023 to 2030) |
| Largest segment | Combined cycle |
| Fastest growing segment | Combined Cycle |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, Germany accounted for 6.5% of the global gas turbine market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Europe, Germany gas turbine market is projected to lead the regional market in terms of revenue in 2030.
- Italy is the fastest growing regional market in Europe and is projected to reach USD 278.5 million by 2030.
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Gas Turbine Market Scope
Gas Turbine Market Companies
| Name | Profile | # Employees | HQ | Website |
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Germany 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 90% in 2023. Horizon Databook has segmented the Germany gas turbine market based on open cycle, combined cycle covering the revenue growth of each sub-segment from 2018 to 2030.
The gas turbine market in Germany is expected to grow steadily in the coming years, driven by transition to renewable energy source and the need to balance intermittent renewables with reliable and flexible gas-fired power generation.
The market is dominated by major players such as Siemens and GE, who provide a range of gas turbines for various applications, including power generation and industrial processes. The country is focused on energy efficiency which is driving the need for more efficient and flexible gas turbines that can operate at varying loads.
There has been a move away from gas-powered turbines in recent years owing to high dependence on Russia for natural gas exports. The country plans to diversify its energy mix by investing in other Sources Research of energy such as solar, wind, and hydrogen.
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Horizon Databook provides a detailed overview of country-level data and insights on the Germany gas turbine market , including forecasts for subscribers. This country databook contains high-level insights into Germany gas turbine market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Germany gas turbine market size, by technology, 2018-2030 (US$M)
Germany Gas Turbine Market Outlook Share, 2023 & 2030 (US$M)
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