Key Insights
The European gas turbine market is projected to reach $7.8 billion by 2025, with an anticipated compound annual growth rate (CAGR) of 5.1% between 2025 and 2033. This growth is propelled by escalating electricity demand across Europe and the critical role of combined cycle gas turbines in efficient power generation. The ongoing energy transition, while prioritizing renewables, still requires flexible and reliable gas turbines for peak demand management and grid stability. Key end-users include the oil and gas sector and other industrial segments demanding consistent power. Leading markets are expected to be Germany, France, the United Kingdom, and Italy. Market expansion will be influenced by environmental regulations driving innovation in cleaner technologies and competitive dynamics among established and emerging manufacturers.
Europe Gas Turbine Market Market Size (In Billion)
Within the European gas turbine market, combined cycle gas turbines dominate due to their superior efficiency over open cycle alternatives. The oil and gas sector remains a primary consumer, with growing contributions from manufacturing and power generation sectors enhancing market diversification. Future technological advancements will focus on boosting efficiency, reducing emissions, and extending turbine lifespan. Continued demand for reliable power generation, coupled with innovations in digitalization and predictive maintenance, will foster market growth, subject to economic factors and evolving EU energy policies.
Europe Gas Turbine Market Company Market Share
Europe Gas Turbine Market: A Comprehensive Market Report (2019-2033)
This in-depth report provides a comprehensive analysis of the Europe Gas Turbine Market, offering valuable insights for industry professionals, investors, and strategic decision-makers. The report covers the historical period (2019-2024), base year (2025), and forecast period (2025-2033), providing a clear understanding of market dynamics and future growth potential. The market is segmented by end-user industry (Oil and Gas, Power, Other End-user Industries) and type (Combined Cycle, Open Cycle), allowing for granular analysis and identification of lucrative opportunities. The total market size is predicted to reach xx Million units by 2033.
Europe Gas Turbine Market Market Dynamics & Structure
This section analyzes the competitive landscape of the European gas turbine market, considering market concentration, technological advancements, regulatory influences, and market trends. The market is characterized by the presence of both established global players and regional manufacturers. The report quantifies market share among key players and analyzes mergers and acquisitions (M&A) activity, identifying key strategic partnerships and their impact on market dynamics.
Market Concentration: The market exhibits a moderately concentrated structure, with the top 5 players holding approximately xx% market share in 2024. This share is projected to increase to xx% by 2033.
Technological Innovation: Continuous advancements in gas turbine technology, focusing on efficiency, emissions reduction, and digitalization, are significant drivers of market growth. Innovation barriers include high R&D costs and the need for stringent regulatory compliance.
Regulatory Framework: Stringent environmental regulations in Europe, aimed at reducing greenhouse gas emissions, are shaping the adoption of cleaner gas turbine technologies. This includes stricter emission standards and incentives for renewable energy integration.
Competitive Product Substitutes: The market faces competition from renewable energy sources like wind and solar power. However, gas turbines remain crucial for grid stability and peak power generation.
End-User Demographics: The growth of the power generation sector, driven by increasing electricity demand and aging infrastructure, is a key driver. The Oil and Gas sector also plays a vital role in driving demand for gas turbines used in pipeline compression and offshore platforms.
M&A Trends: The past five years have witnessed xx M&A deals in the European gas turbine market, primarily driven by strategic expansion and technology acquisition. The average deal size was xx Million units in 2024.
Europe Gas Turbine Market Growth Trends & Insights
The Europe gas turbine market experienced significant growth between 2019 and 2024, with a Compound Annual Growth Rate (CAGR) of xx%. This growth is expected to continue during the forecast period (2025-2033), albeit at a moderated pace. The market size is projected to reach xx Million units by 2033, driven by factors including increasing electricity demand, industrialization, and investment in infrastructure development. Technological advancements in areas like digitalization and AI-driven predictive maintenance are contributing to increased efficiency and reduced operational costs, further fueling market adoption. Consumer behavior is shifting towards more sustainable and efficient solutions, prompting manufacturers to invest in the development and deployment of greener technologies. Market penetration is expected to reach xx% by 2033.
Dominant Regions, Countries, or Segments in Europe Gas Turbine Market
The German market holds the largest share within Europe due to its strong industrial base and robust power generation sector. The UK and France also represent substantial markets. Within the segments, the Power sector dominates, accounting for approximately xx% of the market share, followed by Oil and Gas and Other End-user Industries. Combined Cycle gas turbines have a larger market share than Open Cycle turbines, owing to their higher efficiency.
Key Drivers in Germany: Strong industrial base, significant investments in power generation infrastructure, supportive government policies promoting energy efficiency and renewable integration.
Key Drivers in the Power Sector: Increasing electricity demand, aging power infrastructure requiring upgrades, and a need for reliable and efficient power generation.
Key Drivers in Combined Cycle: Higher efficiency compared to Open Cycle, lower emissions, and suitability for baseload power generation.
Europe Gas Turbine Market Product Landscape
Gas turbine technology is continuously evolving, with advancements focusing on improved efficiency, reduced emissions, and enhanced durability. Manufacturers are incorporating advanced materials, digitalization, and AI-powered solutions to optimize performance and minimize downtime. The key selling points are efficiency, reliability, and reduced environmental impact, appealing to customers seeking cost-effectiveness and sustainability.
Key Drivers, Barriers & Challenges in Europe Gas Turbine Market
Key Drivers: Increasing electricity demand, modernization of aging power infrastructure, government support for clean energy technologies, and the need for reliable and efficient power generation are driving market growth.
Key Challenges: High initial investment costs, stringent environmental regulations, competition from renewable energy sources, and potential supply chain disruptions pose challenges to market expansion. The impact of these challenges is estimated to reduce the market growth rate by approximately xx% during the forecast period.
Emerging Opportunities in Europe Gas Turbine Market
Emerging opportunities include the integration of gas turbines with renewable energy sources, the development of more efficient and environmentally friendly technologies, and expanding into untapped markets within Europe. The increasing demand for decentralized power generation and microgrids presents new avenues for growth. Further opportunities exist in developing innovative maintenance and service solutions for existing installations.
Growth Accelerators in the Europe Gas Turbine Market Industry
Technological breakthroughs in materials science, digitalization, and AI are driving efficiency gains and cost reductions. Strategic partnerships between manufacturers and energy companies are accelerating the adoption of advanced gas turbine technologies. Market expansion into new sectors and geographical areas, coupled with supportive government policies, are further accelerating market growth.
Key Players Shaping the Europe Gas Turbine Market Market
Notable Milestones in Europe Gas Turbine Market Sector
- 2021: Siemens announced a significant investment in R&D for next-generation gas turbines.
- 2022: MTU Aero Engines launched a new series of highly efficient gas turbines for power generation.
- 2023: A major merger between two European gas turbine manufacturers resulted in increased market consolidation.
In-Depth Europe Gas Turbine Market Market Outlook
The Europe gas turbine market is poised for continued growth, driven by technological advancements, increasing energy demand, and supportive regulatory frameworks. The focus on sustainable and efficient solutions will shape future market dynamics, presenting opportunities for companies that prioritize innovation and environmental responsibility. Strategic partnerships and investments in R&D will be crucial for companies aiming to capitalize on the long-term growth potential of this sector.
Europe Gas Turbine Market Segmentation
-
1. End-User Industry
- 1.1. Oil and Gas
- 1.2. Power
- 1.3. Other End-user Industries
-
2. Type
- 2.1. Combined Cycle
- 2.2. Open Cycle
Europe Gas Turbine Market Segmentation By Geography
- 1. United Kingdom
- 2. Germany
- 3. France
- 4. Rest of Europe
Europe Gas Turbine Market Regional Market Share
Geographic Coverage of Europe Gas Turbine Market
Europe Gas Turbine Market REPORT HIGHLIGHTS
| Aspects | Details |
|---|---|
| Study Period | 2020-2034 |
| Base Year | 2025 |
| Estimated Year | 2026 |
| Forecast Period | 2026-2034 |
| Historical Period | 2020-2025 |
| Growth Rate | CAGR of 5.1% from 2020-2034 |
| Segmentation |
|
Table of Contents
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 2.1. Introduction
- 3. Market Dynamics
- 3.1. Introduction
- 3.2. Market Drivers
- 3.2.1. 4.; Supportive Government Policies and Incentives4.; Environmental Concerns
- 3.3. Market Restrains
- 3.3.1. 4.; Fossil Fuel Subsidies
- 3.4. Market Trends
- 3.4.1. Gas-based Power Generation to Drive the market
- 4. Market Factor Analysis
- 4.1. Porters Five Forces
- 4.2. Supply/Value Chain
- 4.3. PESTEL analysis
- 4.4. Market Entropy
- 4.5. Patent/Trademark Analysis
- 5. Europe Gas Turbine Market Analysis, Insights and Forecast, 2020-2032
- 5.1. Market Analysis, Insights and Forecast - by End-User Industry
- 5.1.1. Oil and Gas
- 5.1.2. Power
- 5.1.3. Other End-user Industries
- 5.2. Market Analysis, Insights and Forecast - by Type
- 5.2.1. Combined Cycle
- 5.2.2. Open Cycle
- 5.3. Market Analysis, Insights and Forecast - by Region
- 5.3.1. United Kingdom
- 5.3.2. Germany
- 5.3.3. France
- 5.3.4. Rest of Europe
- 5.1. Market Analysis, Insights and Forecast - by End-User Industry
- 6. United Kingdom Europe Gas Turbine Market Analysis, Insights and Forecast, 2020-2032
- 6.1. Market Analysis, Insights and Forecast - by End-User Industry
- 6.1.1. Oil and Gas
- 6.1.2. Power
- 6.1.3. Other End-user Industries
- 6.2. Market Analysis, Insights and Forecast - by Type
- 6.2.1. Combined Cycle
- 6.2.2. Open Cycle
- 6.1. Market Analysis, Insights and Forecast - by End-User Industry
- 7. Germany Europe Gas Turbine Market Analysis, Insights and Forecast, 2020-2032
- 7.1. Market Analysis, Insights and Forecast - by End-User Industry
- 7.1.1. Oil and Gas
- 7.1.2. Power
- 7.1.3. Other End-user Industries
- 7.2. Market Analysis, Insights and Forecast - by Type
- 7.2.1. Combined Cycle
- 7.2.2. Open Cycle
- 7.1. Market Analysis, Insights and Forecast - by End-User Industry
- 8. France Europe Gas Turbine Market Analysis, Insights and Forecast, 2020-2032
- 8.1. Market Analysis, Insights and Forecast - by End-User Industry
- 8.1.1. Oil and Gas
- 8.1.2. Power
- 8.1.3. Other End-user Industries
- 8.2. Market Analysis, Insights and Forecast - by Type
- 8.2.1. Combined Cycle
- 8.2.2. Open Cycle
- 8.1. Market Analysis, Insights and Forecast - by End-User Industry
- 9. Rest of Europe Europe Gas Turbine Market Analysis, Insights and Forecast, 2020-2032
- 9.1. Market Analysis, Insights and Forecast - by End-User Industry
- 9.1.1. Oil and Gas
- 9.1.2. Power
- 9.1.3. Other End-user Industries
- 9.2. Market Analysis, Insights and Forecast - by Type
- 9.2.1. Combined Cycle
- 9.2.2. Open Cycle
- 9.1. Market Analysis, Insights and Forecast - by End-User Industry
- 10. Competitive Analysis
- 10.1. Market Share Analysis 2025
- 10.2. Company Profiles
- 10.2.1 MTU Aero Engines Ag / Vericor Power Systems LLC
- 10.2.1.1. Overview
- 10.2.1.2. Products
- 10.2.1.3. SWOT Analysis
- 10.2.1.4. Recent Developments
- 10.2.1.5. Financials (Based on Availability)
- 10.2.2 Solar Turbines Europe SA
- 10.2.2.1. Overview
- 10.2.2.2. Products
- 10.2.2.3. SWOT Analysis
- 10.2.2.4. Recent Developments
- 10.2.2.5. Financials (Based on Availability)
- 10.2.3 Man Diesel and Turbo SE
- 10.2.3.1. Overview
- 10.2.3.2. Products
- 10.2.3.3. SWOT Analysis
- 10.2.3.4. Recent Developments
- 10.2.3.5. Financials (Based on Availability)
- 10.2.4 Bharat Heavy Electricals Limited
- 10.2.4.1. Overview
- 10.2.4.2. Products
- 10.2.4.3. SWOT Analysis
- 10.2.4.4. Recent Developments
- 10.2.4.5. Financials (Based on Availability)
- 10.2.5 Siemens AG
- 10.2.5.1. Overview
- 10.2.5.2. Products
- 10.2.5.3. SWOT Analysis
- 10.2.5.4. Recent Developments
- 10.2.5.5. Financials (Based on Availability)
- 10.2.6 Mitsubishi Hitachi Power Systems Ltd
- 10.2.6.1. Overview
- 10.2.6.2. Products
- 10.2.6.3. SWOT Analysis
- 10.2.6.4. Recent Developments
- 10.2.6.5. Financials (Based on Availability)
- 10.2.7 General Electric Company
- 10.2.7.1. Overview
- 10.2.7.2. Products
- 10.2.7.3. SWOT Analysis
- 10.2.7.4. Recent Developments
- 10.2.7.5. Financials (Based on Availability)
- 10.2.8 Harbin Electric International Company Limited
- 10.2.8.1. Overview
- 10.2.8.2. Products
- 10.2.8.3. SWOT Analysis
- 10.2.8.4. Recent Developments
- 10.2.8.5. Financials (Based on Availability)
- 10.2.9 Kawasaki Heavy Industries Ltd
- 10.2.9.1. Overview
- 10.2.9.2. Products
- 10.2.9.3. SWOT Analysis
- 10.2.9.4. Recent Developments
- 10.2.9.5. Financials (Based on Availability)
- 10.2.1 MTU Aero Engines Ag / Vericor Power Systems LLC
List of Figures
- Figure 1: Europe Gas Turbine Market Revenue Breakdown (billion, %) by Product 2025 & 2033
- Figure 2: Europe Gas Turbine Market Share (%) by Company 2025
List of Tables
- Table 1: Europe Gas Turbine Market Revenue billion Forecast, by End-User Industry 2020 & 2033
- Table 2: Europe Gas Turbine Market Volume K Unit Forecast, by End-User Industry 2020 & 2033
- Table 3: Europe Gas Turbine Market Revenue billion Forecast, by Type 2020 & 2033
- Table 4: Europe Gas Turbine Market Volume K Unit Forecast, by Type 2020 & 2033
- Table 5: Europe Gas Turbine Market Revenue billion Forecast, by Region 2020 & 2033
- Table 6: Europe Gas Turbine Market Volume K Unit Forecast, by Region 2020 & 2033
- Table 7: Europe Gas Turbine Market Revenue billion Forecast, by End-User Industry 2020 & 2033
- Table 8: Europe Gas Turbine Market Volume K Unit Forecast, by End-User Industry 2020 & 2033
- Table 9: Europe Gas Turbine Market Revenue billion Forecast, by Type 2020 & 2033
- Table 10: Europe Gas Turbine Market Volume K Unit Forecast, by Type 2020 & 2033
- Table 11: Europe Gas Turbine Market Revenue billion Forecast, by Country 2020 & 2033
- Table 12: Europe Gas Turbine Market Volume K Unit Forecast, by Country 2020 & 2033
- Table 13: Europe Gas Turbine Market Revenue billion Forecast, by End-User Industry 2020 & 2033
- Table 14: Europe Gas Turbine Market Volume K Unit Forecast, by End-User Industry 2020 & 2033
- Table 15: Europe Gas Turbine Market Revenue billion Forecast, by Type 2020 & 2033
- Table 16: Europe Gas Turbine Market Volume K Unit Forecast, by Type 2020 & 2033
- Table 17: Europe Gas Turbine Market Revenue billion Forecast, by Country 2020 & 2033
- Table 18: Europe Gas Turbine Market Volume K Unit Forecast, by Country 2020 & 2033
- Table 19: Europe Gas Turbine Market Revenue billion Forecast, by End-User Industry 2020 & 2033
- Table 20: Europe Gas Turbine Market Volume K Unit Forecast, by End-User Industry 2020 & 2033
- Table 21: Europe Gas Turbine Market Revenue billion Forecast, by Type 2020 & 2033
- Table 22: Europe Gas Turbine Market Volume K Unit Forecast, by Type 2020 & 2033
- Table 23: Europe Gas Turbine Market Revenue billion Forecast, by Country 2020 & 2033
- Table 24: Europe Gas Turbine Market Volume K Unit Forecast, by Country 2020 & 2033
- Table 25: Europe Gas Turbine Market Revenue billion Forecast, by End-User Industry 2020 & 2033
- Table 26: Europe Gas Turbine Market Volume K Unit Forecast, by End-User Industry 2020 & 2033
- Table 27: Europe Gas Turbine Market Revenue billion Forecast, by Type 2020 & 2033
- Table 28: Europe Gas Turbine Market Volume K Unit Forecast, by Type 2020 & 2033
- Table 29: Europe Gas Turbine Market Revenue billion Forecast, by Country 2020 & 2033
- Table 30: Europe Gas Turbine Market Volume K Unit Forecast, by Country 2020 & 2033
Frequently Asked Questions
1. What is the projected Compound Annual Growth Rate (CAGR) of the Europe Gas Turbine Market?
The projected CAGR is approximately 5.1%.
2. Which companies are prominent players in the Europe Gas Turbine Market?
Key companies in the market include MTU Aero Engines Ag / Vericor Power Systems LLC, Solar Turbines Europe SA, Man Diesel and Turbo SE, Bharat Heavy Electricals Limited, Siemens AG, Mitsubishi Hitachi Power Systems Ltd, General Electric Company, Harbin Electric International Company Limited, Kawasaki Heavy Industries Ltd.
3. What are the main segments of the Europe Gas Turbine Market?
The market segments include End-User Industry, Type.
4. Can you provide details about the market size?
The market size is estimated to be USD 7.8 billion as of 2022.
5. What are some drivers contributing to market growth?
4.; Supportive Government Policies and Incentives4.; Environmental Concerns.
6. What are the notable trends driving market growth?
Gas-based Power Generation to Drive the market.
7. Are there any restraints impacting market growth?
4.; Fossil Fuel Subsidies.
8. Can you provide examples of recent developments in the market?
N/A
9. What pricing options are available for accessing the report?
Pricing options include single-user, multi-user, and enterprise licenses priced at USD 4750, USD 5250, and USD 8750 respectively.
10. Is the market size provided in terms of value or volume?
The market size is provided in terms of value, measured in billion and volume, measured in K Unit.
11. Are there any specific market keywords associated with the report?
Yes, the market keyword associated with the report is "Europe Gas Turbine Market," which aids in identifying and referencing the specific market segment covered.
12. How do I determine which pricing option suits my needs best?
The pricing options vary based on user requirements and access needs. Individual users may opt for single-user licenses, while businesses requiring broader access may choose multi-user or enterprise licenses for cost-effective access to the report.
13. Are there any additional resources or data provided in the Europe Gas Turbine Market report?
While the report offers comprehensive insights, it's advisable to review the specific contents or supplementary materials provided to ascertain if additional resources or data are available.
14. How can I stay updated on further developments or reports in the Europe Gas Turbine Market?
To stay informed about further developments, trends, and reports in the Europe Gas Turbine Market, consider subscribing to industry newsletters, following relevant companies and organizations, or regularly checking reputable industry news sources and publications.
Methodology
Step 1 - Identification of Relevant Samples Size from Population Database
Step 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)
Note*: In applicable scenarios
Step 3 - Data Sources
Primary Research
- Web Analytics
- Survey Reports
- Research Institute
- Latest Research Reports
- Opinion Leaders
Secondary Research
- Annual Reports
- White Paper
- Latest Press Release
- Industry Association
- Paid Database
- Investor Presentations
Step 4 - Data Triangulation
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence