Rising Demand for Gas Turbines in EMEA Region Amidst Energy Transition
Key Ideas
  • Gas turbines market in EMEA is projected to grow at a CAGR of 4.19% from 2022 to 2029, reaching a market size of US$11.491 billion, driven by increased demand in manufacturing and aviation sectors.
  • Roadblocks to the market growth include emission control norms and rising gas prices, but technological innovations are expected to counter these challenges.
  • The EMEA region, especially Central and Eastern Europe, is witnessing significant growth prospects due to investments in power generation and replacement of obsolete equipment.
  • Key developments, such as the successful installation of a gas turbine running on 100% renewable hydrogen and the launch of hydrogen-capable technology, reflect a positive shift towards hydrogen usage in the gas turbine industry.
The Europe Middle East And Africa (EMEA) gas turbines market is on a growth trajectory, with a projected CAGR of 4.19% from 2022 to 2029, reaching a market size of US$11.491 billion. Gas turbines are essential in various industries, including aviation and manufacturing, for power generation and mechanical drives. The rising demand for energy due to increased manufacturing capacity is a key driver of this market. While gas turbines offer high efficiency and reliability at a low capital cost, challenges such as emission control norms and rising gas prices pose obstacles to market growth. Despite these challenges, technological advancements in gas turbines are expected to bring positive changes to the industry. The EMEA region, particularly Central and Eastern Europe, presents promising growth opportunities driven by investments in power generation and the replacement of outdated equipment. Noteworthy developments include the successful installation of a gas turbine running on 100% renewable hydrogen by the HYFLEXPOWER consortium and the launch of hydrogen-capable technology by Kawasaki Gas Turbine Europe. These advancements signify a shift towards incorporating hydrogen in the gas turbine sector. The increasing adoption of energy-efficient technologies and a shift towards natural gas-fired power plants indicate a positive trend for the industry, aligning with the global push towards renewable energy sources.
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