According to the research report titled, ‘Europe Gas Turbine Market Forecast 2027 By Application, By Capacity, By Product, By Technology, Research Report, Country Outlook, COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share,’ available with MarketStudyReport, Europe gas turbine market is anticipated to amass notable gains during 2021-2027.
 

Increasing government focus on adopting greener alternatives for electricity production, rising efforts among the key players to develop innovative technologies, and the surging popularity of natural gas as it has low emission rate and is a cleaner fuel are propelling the growth of Europe gas turbine market.
 

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However, the outbreak of the COVID 19 pandemic had adversely affected the industry progression as several companies were temporality showdown due to the lockdown restrictions. This had also resulted in severe dearth of raw materials and workforce in manufacturing units.
 

Despite this, easing restrictions are likely to pave the way towards Europe gas turbine market expansion again in the ensuing years.
 

By capacity, the industry vertical is split into <50 kW, >50 kW-500 kW, >500 kW- 1 MW, >1 MW – 30 MW, >30 MW -70 MW, >70 MW-200 MW, and > 200 MW. The >70 MW- 200 MW segment is projected to gain significant momentum through 2027 owing to increasing inclination towards adopting green fuels. Besides, rigid government rules associated with the replacement of energy-wasting turbines with energy-efficient ones are contributing towards the segmental progression.
 

Based on product type, Europe gas turbine market is bifurcated into aero derivative and heavy duty. Among these, the report cites that heavy duty segment is slated to witness considerable growth in the forthcoming years, primarily due to rapid industrialization and beneficial attributes associated with these devices including high efficiency, reliability, and smooth operations.
 

On the basis of technology, the industry is classified into open cycle and closed cycle.
 

In terms of application the market sphere is fragmented into oil & gas, power plants, aviation, process plants, marine, and others. The power plants segment is poised to expand substantially through 2027 due to surging number of power generation units to meet the growing electricity demand.
 

Regionally speaking, Germany gas turbine market is projected to showcase lucrative growth trends during 2021-2027 creditable to rising focus towards replacing coal-fuel power plants with clean energy-based ones and escalating demand for efficient electricity supply.
 

Key players operating in Europe gas turbine market are Kawasaki Heavy Industries Ltd., UEC NPO Saturn, PJSC, Capstone Green Energy Corporation, MAN Energy Solutions SE, Vericor Power Systems LLC, OPRA Turbines B.V., Wartsila Oyj Abp, Mitsubishi Power Ltd., General Electric Company, and Siemens Energy AG.