Italy Gas Turbine Market Size & Outlook, 2023-2030
Italy gas turbine market, 2018-2030 (US$M)
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Italy gas turbine market highlights
- The Italy gas turbine market generated a revenue of USD 203.7 million in 2023 and is expected to reach USD 278.5 million by 2030.
- The Italy market is expected to grow at a CAGR of 4.6% 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 203.7 million |
| Market revenue in 2030 | USD 278.5 million |
| Growth rate | 4.6% (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, Italy accounted for 2.0% 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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Italy 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 94.16% in 2023. Horizon Databook has segmented the Italy gas turbine market based on open cycle, combined cycle covering the revenue growth of each sub-segment from 2018 to 2030.
Italy has been focusing on energy efficiency, which is driving the need for more efficient and flexible gas turbines that can operate at varying loads. Italy has a high penetration of renewable energy Sources in its energy mix, particularly solar and wind energy, which can be intermittent and unpredictable.
This makes gas-fired power generation, including gas turbines, an important part of the country's energy mix as they provide a reliable and flexible source of electricity that can balance the fluctuations in renewable supply.
The Italian government has implemented several policies and initiatives to encourage the adoption of renewable energy Sources, which could potentially impact the growth of the gas turbine market.
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Horizon Databook provides a detailed overview of country-level data and insights on the Italy gas turbine market , including forecasts for subscribers. This country databook contains high-level insights into Italy gas turbine market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Italy gas turbine market size, by technology, 2018-2030 (US$M)
Italy Gas Turbine Market Outlook Share, 2023 & 2030 (US$M)
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