Spain Gas Turbine Market Size & Outlook, 2023-2030
Spain gas turbine market, 2018-2030 (US$M)
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Spain gas turbine market highlights
- The Spain gas turbine market generated a revenue of USD 292.7 million in 2023 and is expected to reach USD 361.2 million by 2030.
- The Spain market is expected to grow at a CAGR of 3% 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 292.7 million |
| Market revenue in 2030 | USD 361.2 million |
| Growth rate | 3% (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, Spain accounted for 2.9% 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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Spain 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 92.01% in 2023. Horizon Databook has segmented the Spain gas turbine market based on open cycle, combined cycle covering the revenue growth of each sub-segment from 2018 to 2030.
Spain has set a target of achieving 20% of its electricity storage capacity from renewable Sources by 2030, which will require the integration of energy storage technologies with gas-fired power generation systems. Gas turbines can provide ancillary services, such as frequency regulation and spinning reserves, to the grid which are crucial for the integration of large-scale energy storage systems.
Spain has a highly diversified industrial sector with significant demand for gas-fired power generation systems in manufacturing, transportation, and data centers. This provides a strong market potential for gas turbine manufacturers to cater to the needs of different industries. These factors are expected to drive the growth of the gas turbine market in Spain in 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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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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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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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the Spain gas turbine market , including forecasts for subscribers. This country databook contains high-level insights into Spain gas turbine market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Spain gas turbine market size, by technology, 2018-2030 (US$M)
Spain Gas Turbine Market Outlook Share, 2023 & 2030 (US$M)
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