Europe Gas Turbine Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Technology (Open Cycle and Combined Cycle), Capacity (Below 40 MW, 40-120 MW, 120-300 MW, and Above 300 MW), and Application (Power Generation, Oil and Gas, and Industrial) and Country
Market Introduction
Gas Turbine is an internal combustion engine comprising combustion chambers that releases expanding gases, which further drive the blades of a turbine. The gas turbine converts natural gas and other liquids into mechanical energy. This energy then fuels generators to produce electrical energy. The various advantages associated with gas turbines are high power to weight ratio and low operations pressure. Despite being small in size, the gas turbines possess a high power rating. They reduce carbon emissions and release fewer emissions into the air as compared to other engines. Thus, the growth in the substitution of coal and nuclear driven turbines are expected to create a significant demand for gas turbines in the coming years, which is further anticipated to drive the gas turbine market.
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Market Overview and Dynamics
The gas turbine market in Europe is expected to grow from US$ 5,011.4 Mn in 2018 to US$ 6,625.6 Mn by 2027; it is estimated to grow at a CAGR of 3.2% from 2019 to 2027. In the aviation industry, the gas turbines propulsion systems are used to power almost all the commercial and military airplanes. It is projected that in the next 20 years, more than 40,000 new aircraft with gas turbines will be produced. Gas turbines power the oil and gas industry all along the value chain. Gas turbines today have a well-established operational efficiency, power density, and reliability. Besides, the excess solar energy and wind energy can be used to produce hydrogen as an energy storage mechanism that will further be burned in gas turbines for electricity production. As per the above-stated trends, the gas turbine industry will continue to play a crucial role in the generation of electricity, aircraft propulsion and in the oil and gas industries in the decades to come. This is bolstering the growth of the gas turbine market.
Key Market Segments
In terms of technology, the combined cycle segment accounted for the largest share of the Europe gas turbine market in 2018. In terms of capacity, the 120-300 MW capacity segment held a larger market share of the gas turbine market in 2018. Further, the power generation segment held a larger share of the market based on application in 2018.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the gas turbine market in Europe are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Ansaldo Energia S.p.A., General Electric Company, Harbin Electric Company Limited, Kawasaki Heavy Industries, Ltd., Man Energy Solutions, Mitsubishi Hitachi Power Systems, Ltd., Siemens AG, Solar Turbines Incorporated, Wärtsilä Corporation, and Bharat Heavy Electricals Limited (BHEL) among others.
Reasons to buy report
- To understand the Europe gas turbine market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for Europe gas turbine market
- Efficiently plan M&A and partnership deals in Europe gas turbine market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form Europe gas turbine market
- Obtain market revenue forecast for market by various segments from 2019-2027 in Europe region.
EUROPE GAS TURBINE MARKET SEGMENTATION
- Open Cycle
- Combined Cycle
- Below 40 MW
- 40-120 MW
- 120-300 MW
- Above 300 MW
- Power Generation
- Oil and Gas
- Industrial
By Country
- Germany
- France
- Italy
- UK
- Russia
- Rest of Europe
Company Profiles
- Ansaldo Energia S.p.A.
- General Electric Company
- Harbin Electric Company Limited
- Kawasaki Heavy Industries, Ltd.
- Man Energy Solutions
- Mitsubishi Hitachi Power Systems, Ltd.
- Siemens AG
- Solar Turbines Incorporated
- Wärtsilä Corporation
- Bharat Heavy Electricals Limited (BHEL)
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis formulation:
3.2.4 Macro-economic factor analysis:
3.2.5 Developing base number:
3.2.6 Data Triangulation:
3.2.7 Country level data:
4. Gas Turbine Market Landscape
4.1 Market Overview
4.2 Europe PEST Analysis
4.3 Expert Opinion
5. Europe Gas Turbine Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Substitution of coal and nuclear driven turbines by gas turbines
5.2 Market Restraints
5.2.1 Coordination between gas and electricity industries
5.3 Market Opportunities
5.3.1 Rising demand for distributed power systems
5.4 Future Trends
5.4.1 Modifying trends in aviation industry to favour gas turbine market
5.5 Impact Analysis
6. Gas Turbine Market– Europe Analysis
6.1 Europe Gas Turbine Market Overview
6.2 Europe Gas Turbine Market–Revenue and Forecast to 2027 (US$ Mn)
6.3 Market Positioning – Market Players
7. Europe Gas Turbine Market Analysis – By Technology
7.1 Overview
7.2 Europe Gas Turbine Market, By Technology (2018 and 2027)
7.3 Open Cycle
7.3.1 Overview
7.3.1.1 Open Cycle: Gas Turbine Market – Revenue, and Forecast to 2027 (US$ Million)
7.4 Combined Cycle
7.4.1 Overview
7.4.1.1 Combined Cycle: Gas Turbine Market – Revenue, and Forecast to 2027 (US$ Million)
8. Europe Gas Turbine Market Analysis – By Capacity
8.1 Overview
8.2 Europe Gas Turbine Market, By Capacity (2018 and 2027)
8.3 Below 40 MW
8.3.1 Overview
8.3.1.1 Below 40 MW: Gas Turbine Market – Revenue and Forecast to 2027 (US$ Million)
8.4 - 120 MW
8.4.1 Overview
8.4.1.1 - 120 MW: Gas Turbine Market – Revenue and Forecast to 2027 (US$ Million)
8.5 - 300 MW
8.5.1 Overview
8.5.1.1 - 300 MW: Gas Turbine Market – Revenue and Forecast to 2027 (US$ Million)
8.6 Above 300 MW
8.6.1 Overview
8.6.1.1 Above 300 MW: Gas Turbine Market – Revenue and Forecast to 2027 (US$ Million)
9. Europe Gas Turbine Market Analysis – By Application
9.1 Overview
9.2 Europe Gas Turbine Market, By Application (2018 and 2027)
9.3 Power Generation
9.3.1 Overview
9.3.2 Power Generation: Gas Turbine Market – Revenue and Forecast to 2027 (US$ Million)
9.4 Oil and Gas
9.4.1 Overview
9.4.2 Oil and Gas: Gas Turbine Market – Revenue and Forecast to 2027 (US$ Million)
9.5 Industrial
9.5.1 Overview
9.5.2 Industrial: Gas Turbine Market – Revenue and Forecast to 2027 (US$ Million)
10. Europe Gas Turbine Market – Country Analysis
10.1 Overview
10.1.1 Europe: Gas Turbine Market, by Key Country
10.1.1.1 Germany: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
10.1.1.1.1 Germany: Gas Turbine Market, by Technology
10.1.1.1.2 Germany: Gas Turbine Market, by Capacity
10.1.1.1.3 Germany: Gas Turbine Market, by Application
10.1.1.2 France: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
10.1.1.2.1 France: Gas Turbine Market, by Technology
10.1.1.2.2 France: Gas Turbine Market, by Capacity
10.1.1.2.3 France: Gas Turbine Market, by Application
10.1.1.3 Italy: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
10.1.1.3.1 Italy: Gas Turbine Market, by Technology
10.1.1.3.2 Italy: Gas Turbine Market, by Capacity
10.1.1.3.3 Italy: Gas Turbine Market, by Application
10.1.1.4 UK: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
10.1.1.4.1 UK: Gas Turbine Market, by Technology
10.1.1.4.2 UK: Gas Turbine Market, by Capacity
10.1.1.4.3 UK: Gas Turbine Market, by Application
10.1.1.5 Russia: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
10.1.1.5.1 Russia: Gas Turbine Market, by Technology
10.1.1.5.2 Russia: Gas Turbine Market, by Capacity
10.1.1.5.3 Russia: Gas Turbine Market, by Application
10.1.1.6 Rest of Europe: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
10.1.1.6.1 Rest of Europe: Gas Turbine Market, by Technology
10.1.1.6.2 Rest of Europe: Gas Turbine Market, by Capacity
10.1.1.6.3 Rest of Europe: Gas Turbine Market, by Application
11. Impact of COVID-19 Pandemic on Europe Gas Turbine Market
11.1 Europe: Impact assessment of COVID-19 Pandemic
12. Industry Landscape
12.1 Strategy and Business Planning
12.2 Collaboration
12.3 Product Launch
13. Company Profiles
13.1 Ansaldo Energia S.p.A.
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 General Electric Company
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Harbin Electric Company Limited
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.4 Kawasaki Heavy Industries, Ltd.
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.5 Man Energy Solutions
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.6 Mitsubishi Hitachi Power Systems, Ltd.
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Siemens AG
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.8 Solar Turbines Incorporated
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.9 Wärtsilä Corporation
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.10 Bharat Heavy Electricals Limited (BHEL)
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. Europe Gas Turbine Market –Revenue and Forecast to 2027 (US$ Mn)
Table 2. Germany Gas Turbine Market, by Technology – Revenue and Forecast to 2027 (USD Million)
Table 3. Germany Gas Turbine Market, by Capacity – Revenue and Forecast to 2027 (USD Million)
Table 4. Germany Gas Turbine Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 5. France Gas Turbine Market, by Technology – Revenue and Forecast to 2027 (USD Million)
Table 6. France Gas Turbine Market, by Capacity – Revenue and Forecast to 2027 (USD Million)
Table 7. France Gas Turbine Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 8. Italy Gas Turbine Market, by Technology – Revenue and Forecast to 2027 (USD Million)
Table 9. Italy Gas Turbine Market, by Capacity – Revenue and Forecast to 2027 (USD Million)
Table 10. Italy Gas Turbine Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 11. UK Gas Turbine Market, by Technology – Revenue and Forecast to 2027 (USD Million)
Table 12. UK Gas Turbine Market, by Capacity – Revenue and Forecast to 2027 (USD Million)
Table 13. UK Gas Turbine Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 14. Russia Gas Turbine Market, by Technology – Revenue and Forecast to 2027 (USD Million)
Table 15. Russia Gas Turbine Market, by Capacity – Revenue and Forecast to 2027 (USD Million)
Table 16. Russia Gas Turbine Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 17. Rest of Europe Gas Turbine Market, by Technology – Revenue and Forecast to 2027 (USD Million)
Table 18. Rest of Europe Gas Turbine Market, by Capacity – Revenue and Forecast to 2027 (USD Million)
Table 19. Rest of Europe Gas Turbine Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 20. List of Abbreviation
LIST OF FIGURES
Figure 1. Europe Gas turbine Market Segmentation
Figure 2. Europe Gas turbine Market Segmentation – By Country
Figure 3. Europe Gas Turbine Market Overview
Figure 4. Power Generation Segment Held Largest Share of Europe Gas Turbine Market – By Application
Figure 5. Russia Held Largest Share of Europe Gas Turbine Market – By Country
Figure 6. Europe Gas Turbine Market, Industry Landscape
Figure 7. Europe: PEST Analysis
Figure 8. Expert Opinion
Figure 9. Europe Impact Analysis of Drivers And Restraints
Figure 10. Europe Gas Turbine Market – Revenue and Forecast to 2027 (US$ Mn)
Figure 11. Europe Gas Turbine Market Revenue Share, by Technology (2018 and 2027)
Figure 12. Europe Open Cycle: Gas Turbine Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 13. Europe Combined Cycle: Gas Turbine Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 14. Europe Gas Turbine Market Revenue Share, by Capacity (2018 and 2027)
Figure 15. Europe Below 40 MW: Gas Turbine Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 16. Europe 40 - 120 MW: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
Figure 17. Europe 120 - 300 MW: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
Figure 18. Europe Above 300 MW: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
Figure 19. Europe Gas Turbine Market Revenue Share, by Application (2018 and 2027)
Figure 20. Europe Power Generation: Gas Turbine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 21. Europe Oil and Gas: Gas Turbine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 22. Europe Industrial: Gas Turbine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 23. Europe: Gas Turbine Market Revenue Share, by Key Country (2018 and 2027)
Figure 24. Germany: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
Figure 25. France: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
Figure 26. Italy: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
Figure 27. UK: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
Figure 28. Russia: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
Figure 29. Rest of Europe: Gas Turbine Market –Revenue and Forecast to 2027 (US$ Million)
Figure 30. Impact of COVID-19 Pandemic In Europe Country Markets
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- Highlights key business priorities in order to assist companies to realign their business strategies.
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