The aeroderivative gas turbine market in Europe is poised to grow at a strong rate over the coming time period owing to rising investments in the aerospace sector coupled with ongoing technological advancements across gas fired turbines. Supportive initiatives by government including rebates and subsidies together with ongoing investments towards heat and power generation facilities will positively influence the product deployment.
Subsequently, growing demand for energy efficient systems and increasing power conservation mandates is set to augment the business landscape.
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Below are some of the key trends that are likely to influence aeroderivative gas turbine market growth in Europe:
Increasing power demand across existing networks
With respect to capacity, the < 50 kW capacity turbine demand will grow at a steady pace owing to increasing R&D activities towards cogeneration plants in order to meet the increasing power use across existing networks. Compact size, light weight, and very low operational costs are some of the topmost parameters propelling the product demand. The surging use of effective re-generative technology across numerous manufacturing processes will positively influence the product adoption. Lower carbon footprint as well as operational flexibility are some of the essential features favoring the industry landscape.
500 kW – 1 MW capacity aeroderivative gas turbine
Technological enhancements in power generation and integration of decentralized generation units will stimulate the market share of aeroderivative gas turbines with 500 kW – 1 MW capacity. The product delivers some of the key advantages including longer life span, light weight and lower carbon emissions. General Electric, in 2018, launched cross fleet gas turbine with less mechanical parts and enhanced reliability, further offering much better performance in comparison to other counterparts.
Adoption of open cycle (OC) aeroderivative gas turbines
The Europe open cycle (OC) aeroderivative gas turbine market will witness robust growth over the coming time period owing to rising inclination toward adoption of decentralized power system and large-scale integration of renewable energy. Operational flexibility, light weight, and high efficiency are some of the key benefits that are forging its applicability in aircrafts. Shifting focus toward gas fired power generating technologies coupled with increasing demand as well as supply mismatch will drive the product deployment.
Increasing product demand across aviation sector
Effective and constant thrust to weight ratio mainly for steady flight performance and wide range of product use across power aviation engines will augment the market landscape. The aerospace sector has gained impetus due to the improved standards of living, high consumer disposable income and expanding tourism & cross border transportation. Likewise, high demand for aircrafts in order to meet the national safety as well as security standards is set to positively fuel the product demand across the military sector.
Increasing demand for aircrafts in France
On the regional front, aeroderivative gas turbine market in France is anticipated to witness high growth on account of high travel as well as improved standards of living in line with booming tourism sector. Government power conservation norms and high demand of aircrafts across the military sector is set to drive the industry statistics. Additionally, government subsidies and financial incentives for integration as well as expansion of CHP plants will further contribute towards market growth.
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Solar Turbines, Mitsubishi Hitachi, BHEL, Harbin, Opra Turbines, Wärtsilä, Zorya-Mashproekt, MAN Energy Solutions, GE, Vericor, Kawasaki, Cryostar, Siemens, and Capstone among many others are some of the key players in the Europe aeroderivative gas turbine market. Numerous technological advancements to comply with the norms and guidelines that are internationally accepted is also favoring the market growth.
Table of Contents (ToC) of the report:
Chapter 1. Methodology & Scope
- Aeroderivative Gas Turbine Market scope & definitions
- Research methodology
Chapter 2. Executive Summary
Chapter 3. Industry Insights
- Industry segmentation
- Industry ecosystem analysis
- Industry impact forces
- Growth drivers
- Growth restraints
- Regulatory overview
- Porter’s analysis
- PESTEL analysis
- Competitive landscape, 2020
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