According to the Graphical Research new growth forecast report titled “Europe Aeroderivative Gas Turbine Market Size By Capacity (< 50 KW, 50 kW to 500 KW, 500 KW to 1 MW, 1 MW to 30 MW, 30 MW to 70 MW, > 70 MW), By Technology (Open Cycle, Combined Cycle), By Application (Power Plants, Oil & Gas, Process Plants, Aviation, Marine), Industry Analysis Report, Country Outlook (UK, France, Germany, Russia, Italy, Finland, Netherlands, Greece, Denmark, Ukraine, Sweden), Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026” to be at Forefront by 2026.
The market size will witness an upsurge on account of increasing investments in the aerospace sector and technical enhancements across gas fired turbines. Soaring power conservation mandates coupled with shifting consumer focus to adopt energy efficient systems will positively influence the business landscape. Growing investments toward heat and power generation facilities along with favorable government initiatives including subsidies and rebates will drive the business growth.
Ongoing research & development activities towards cogeneration plants to meet high power demand across existing networks will fuel the demand for <50 kW capacity units. Light weight, low operational cost and compact size are some of the key parameters which facilitates the product growth. In addition, surging demand of regenerative turbines across the manufacturing establishments will accelerate the industry growth. However, the outbreak of COVID- 19 pandemic, may hinder the business growth on account of delay in ongoing projects and restricted manufacturing facilities across the region.
500 kW - 1 MW capacity systems across the market will gain appreciable momentum owing to integration of decentralized generation units along with technological advancements in power generation. The product integrates key advantages including lower emissions, light weight and longer life span. For instance, in 2018, General Electric introduced cross fleet gas turbine with enhanced reliability and less mechanical parts which offers better performance when compared to its available counterparts.
Large scale integration of renewable energy coupled with increasing customer inclination toward adoption of decentralized power system will escalate the open cycle (OC) aeroderivative gas turbine market across Europe. High efficiency, light weight and operational flexibility are the key advantages increasing its applicability across aircrafts. Rising demand and supply mismatch in line with paradigm shift toward gas fired power generating technologies will stimulate the product adoption.
Flourishing tourism sector along with increasing travel and living standard of people will fuel the aeroderivative gas turbine market across France. Growing demand of aircrafts across military sector in line with government power conservation norms will augment the business landscape. In addition, growing subsidies and financial incentives for integration and expansion of CHP plants will fuel the industry outlook.
Wide scale utilization of gas-powered technologies toward extraction and drilling techniques will positively influence the business landscape. Ongoing industrial advancements along with increasing fleet count subject to a large customer base will boost the industry outlook. Constant weight to power ratio for stable flight performance in line with large scale usage across aviation engines will further boost the product adoption.
The major players operating across the industry includes Mitsubishi, Hitachi, General Electric, Wärtsilä, Kawasaki, Siemens, Solar Turbines, MAN Diesel, Opra Turbines, Harbin, Vericor, Zorya-Mashproekt, Cryostar, Capstone, and NPO Saturn. Acquisitions, new product portfolio and geographical expansion are the few strategies implemented by the companies to gain competitive advantage.