Rising Demand and Innovations in EMEA Gas Turbines Market
Key Ideas
- Gas turbines are experiencing a steady rise in demand in the EMEA region, driven by the need for energy in manufacturing plants and the aviation sector.
- Technological innovations in gas turbines, like hydrogen-capable technology by Kawasaki Gas Turbine Europe, are paving the way for cleaner and more efficient power generation.
- The use of 100% renewable hydrogen in gas turbines, as demonstrated by the HYFLEXPOWER consortium in France, showcases a move towards sustainable energy solutions.
- The Central and Eastern Europe region is expected to witness substantial growth in the gas turbine market, fueled by investments in power generation and the replacement of outdated equipment.
The Europe Middle East and Africa (EMEA) gas turbines market is on a growth trajectory, with a current valuation of US$8.62 billion in 2022 and an estimated market size of US$11.491 billion by 2029. Gas turbines play a vital role in powering manufacturing plants, the aviation industry, and even at sea due to their efficiency and reliability. However, despite their advantages, challenges such as emission control norms and rising gas prices pose threats to market expansion. The increasing need for uninterrupted power supply in the region is propelling the demand for natural gas-fired power plants and energy-efficient technologies. Innovations like the use of hydrogen in gas turbines are being embraced, with instances like the installation of a hydrogen-operated gas turbine in France and Kawasaki Gas Turbine Europe's technology for hydrogen production and storage. The EMEA region, especially Central and Eastern Europe, is forecasted to show promising growth, driven by investments in power generation and increasing electricity consumption. The article highlights key players, market segmentation by type, power rating, and application, as well as the competitive landscape. Overall, the EMEA gas turbines market is witnessing a positive trend towards sustainability and innovation in power generation.
Topics
Middle East
Aviation
Renewable Energy
Technology
Innovation
Manufacturing
Energy
Power Generation
Urbanization
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