Europe Industrial Gas Turbine Market Size & Share 2024 to 2032
Market Size by Capacity (≤ 70 MW, > 70 MW, 300 MW, ≥ 300 MW), by Product (Aero-Derivative, Heavy Duty), by Technology, by Application, by Country Outlook & Forecast.
Report ID: GMI8852
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Published Date: April 2024
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Report Format: PDF
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Authors:
Ankit Gupta, Shubham Chaudhary
Europe Industrial Gas Turbine Market Size
Europe Industrial Gas Turbine Market was valued at USD 1.8 billion in 2023 and is estimated to grow at a CAGR of over 5% from 2024 to 2032. The increasing electricity demand favored by ongoing industrialization, increasing population & economic growth will positively sway the industry potential.
Europe Industrial Gas Turbine Market Key Takeaways
Market Size & Growth
Key Market Drivers
Challenges
An industrial gas turbine is a type of turbine used for generating mechanical energy or electricity in various industrial applications. These turbines operate on the principle of converting the energy stored in a fuel into mechanical energy, which is then used to drive a generator to produce electricity or to power machinery directly. They offer high power output, efficiency, and flexibility, making them suitable for a wide range of areas.
Europe Industrial Gas Turbine Market Trends
Surging adoption of energy-efficient generation technologies along with rising utilization of generated heat will fuel the gas turbine market. In addition, increasing government focus to limit carbon emissions coupled with ongoing modernization grid infrastructure will positively influence the industry landscape. Increasing government focus to increase the share of renewable energy in electricity generation in line with rising electricity demand will accelerate the business potential.
Europe Industrial Gas Turbine Market Analysis
The combined cycle industrial gas turbine market is set to surpass USD 2.5 billion by 2032. Growing adoption of combined heat & power systems along with resurgent industrial proliferation will enhance the product deployment. Rising energy demand coupled with stabilization of gas prices is set to institute a favorable industry scenario. This technology offers key advantages including high performance and excellent efficiency, stimulating the business growth.
The aeroderivative gas turbine market size will witness growth rate of over 5% through 2032. Growing integration of captive-generating stations to suffice the electricity demand across industrial establishments will augment the product demand. Stringent regulatory mandates on limiting carbon emissions and energy optimization will augment the business landscape. Additionally, paradigm shift from conventional resources toward the integration of sustainable energy systems will positively impact the business landscape.
The UK industrial gas turbine market will exceed USD 350 million by 2032. Growing environmental concerns along with increasing emphasis on reducing emissions from industrial processes will augment the business landscape. Ongoing refurbishment of power infrastructures by investing in gas-fired distributed energy will support gas power generation, accelerating the industry growth. Furthermore, increasing replacements of oil-fired power plants with natural gas-fired power plants will significantly propel the product penetration.
Europe Industrial Gas Turbine Market Share
Kawasaki Heavy Industries manufactures a variety of industrial gas turbines tailored for different applications, including power generation, cogeneration, and mechanical drive. These turbines are designed to deliver high efficiency, reliability, and flexibility in operation. The company is known for its cutting-edge technology and continuous innovation in gas turbine design and manufacturing. The company invests heavily in research and development to enhance turbine performance, reduce emissions, and improve overall efficiency.
Europe Industrial Gas Turbine Market Companies
Some major players operating in the Europe industrial gas turbine industry is mentioned below:
Europe Industrial Gas Turbine Industry News
This Europe industrial gas turbine market research report includes in-depth coverage of the industry with estimates & forecast in terms of “MW” & “USD Million” from 2019 to 2032, for the following segments:
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Market, By Capacity
Market, By Product
Market, By Technology
Market, By Application
The above information has been provided for the following regions and country:
Research methodology, data sources & validation process
This report draws on a structured research process built around direct industry conversations, proprietary modelling, and rigorous cross-validation and not just desk research.
Our 6-step research process
1. Research design & analyst oversight
At GMI, our research methodology is built on a foundation of human expertise, rigorous validation, and complete transparency. Every insight, trend analysis, and forecast in our reports is developed by experienced analysts who understand the nuances of your market.
Our approach integrates extensive primary research through direct engagement with industry participants and experts, complemented by comprehensive secondary research from verified global sources. We apply quantified impact analysis to deliver dependable forecasts, while maintaining complete traceability from original data sources to final insights.
2. Primary research
Primary research forms the backbone of our methodology, contributing nearly 80% to overall insights. It involves direct engagement with industry participants to ensure accuracy and depth in analysis. Our structured interview program covers regional and global markets, with inputs from C-suite executives, directors, and subject matter experts. These interactions provide strategic, operational, and technical perspectives, enabling well-rounded insights and reliable market forecasts.
3. Data mining & market analysis
Data mining is a key part of our research process, contributing nearly 20% to the overall methodology. It involves analysing market structure, identifying industry trends, and assessing macroeconomic factors through revenue share analysis of major players. Relevant data is collected from both paid and unpaid sources to build a reliable database. This information is then integrated to support primary research and market sizing, with validation from key stakeholders such as distributors, manufacturers, and associations.
4. Market sizing
Our market sizing is built on a bottom-up approach, starting with company revenue data gathered directly through primary interviews, alongside production volume figures from manufacturers and installation or deployment statistics. These inputs are then pieced together across regional markets to arrive at a global estimate that stays grounded in actual industry activity.
5. Forecast model & key assumptions
Every forecast includes explicit documentation of:
✓ Key growth drivers and their assumed impact
✓ Restraining factors and mitigation scenarios
✓ Regulatory assumptions and policy change risk
✓ Technology adoption curve parameter
✓ Macroeconomic assumptions (GDP growth, inflation, currency)
✓ Competitive dynamics and market entry/exit expectations
6. Validation & quality assurance
The final stages involve human validation, where domain experts manually review filtered data to identify nuances and contextual errors that automated systems might miss. This expert review adds a critical layer of quality assurance, ensuring data aligns with research objectives and domain-specific standards.
Our triple-layer validation process ensures maximum data reliability:
✓ Statistical Validation
✓ Expert Validation
✓ Market Reality Check
Trust & credibility
Verified data sources
Trade publications
Security & defense sector journals and trade press
Industry databases
Proprietary and third-party market databases
Regulatory filings
Government procurement records and policy documents
Academic research
University studies and specialist institution reports
Company reports
Annual reports, investor presentations, and filings
Expert interviews
C-suite, procurement leads, and technical specialists
GMI archive
13,000+ published studies across 30+ industry verticals
Trade data
Import/export volumes, HS codes, and customs records
Parameters studied & evaluated
Every data point in this report is validated through primary interviews, true bottom-up modelling, and rigorous cross-checks. Read about our research process →