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 slated to grow substantially during 2021-2027.
 

The surging focus of government on energy-efficient fuels is propelling the adoption of greener alternatives, which along with introduction of innovative technologies by prominent companies, and collective inclination towards natural gas are driving the growth of Europe gas turbine industry.

Request sample copy of this report: https://www.marketstudyreport.com/request-a-sample/4229255/

During the COVID-19 pandemic, the business landscape was severely affected due to the temporary shutdown of many industries. The supply chain disruption caused by lockdowns led to a massive shortage of raw materials and manpower which impacted the industry to a great extent. However, with the ease of restrictions, the market is expected to pick up pace in the coming years.

Based on product terrain, the heavy-duty segment is predicted to grow tremendously during the assessment timeframe, owing to flourishing industrial sector, and extensive usage of gas turbines in companies for high efficiency and reliability that facilitate smooth operation. 

In terms of capacity, the 70MW-200MW segment of Europe gas turbine market is estimated to gain impressive momentum through 2020, given the rising adoption of green fuels, and strict rules enforced by government to promote energy-saving turbines. 

Concerning application spectrum, the power plant vertical is anticipated to witness robust expansion during the projected timeline, due to surge in industrial activities, impelling the rise in power generation units to adhere to the growing demand for electricity.

From a geographical standpoint, Germany market is poised to record notable growth during the review period, attributed to the increased government emphasis placed on substituting the coal-fueled plants with clean energy ones, soaring demand for electricity from the citizens, and focus on lowering carbon emission rate which has driven up the supply of shale gas in the region. 

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