Europe Turbo Generator Market Size (2024 - 2029)

The European turbo generator market is anticipated to experience growth driven by increasing energy demand and the expansion of power plants across the region. Despite challenges posed by the shift towards clean energy in countries like Germany and France, which may restrain market growth, the market is supported by the advantages of turbo generators, such as lower operating costs and direct connectivity to electrical generators. The preference for gas over coal in energy-intensive industries in Spain and Germany presents significant opportunities for market expansion.

Market Size of Europe Turbo Generator Industry

Single User License

$4750

Team License

$5250

Corporate License

$8750

Book before:
Europe Turbo Generator Market Summary
Study Period 2021 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2021 - 2022
CAGR > 3.50 %
Market Concentration Low

Major Players

Europe Turbo Generator Market Major Players

*Disclaimer: Major Players sorted in no particular order

setting-icon

Need a report that reflects how COVID-19 has impacted this market and its growth?

Single User License

$4750

Team License

$5250

Corporate License

$8750

Book before:

Europe Turbo Generator Market Analysis

The European turbo generator market is expected to grow at a CAGR of over 3.5% during the forecast period.

COVID-19 negatively impacted the market in 2020. Currently. The market has reached pre-pandemic levels.

  • Over the medium term, increasing energy demand in Europe which increased the number of power plants, is expected to drive the turbo generator market during the forecast period. Moreover, the major factors driving the turbo generator market are the inherent advantages that turbo generators provide, the ability to be connected directly to the electrical generator, and the resulting lower operating costs.
  • On the other hand, the challenges are that countries such as Germany and France are moving toward clean energy, with the increased installation of renewable power capacity to achieve social, economic, and environmental development, which, in turn, is expected to restrain the growth of the market studied.
  • Nevertheless, the expansion of energy-intensive industries preferring gas as a fuel over coal and other energy resources in Spain and Germany is expected to provide a significant opportunity for the turbo generator market.
  • Germany was expected to be the leading market for turbo generators in the European region in 2021, owing to rapid industrialization and a significant increase in gas-fired power plant projects during the forecast period.

Europe Turbo Generator Industry Segmentation

A turbo generator is an electric generator connected to the shaft of a steam turbine or gas turbine for electric power generation.

The Europe turbo generator market is segmented by end-user and geography. By end-user, the market is segmented into coal-fired power plants, gas-fired power plants, nuclear power plants, and other end users. The report also covers the market size and forecasts for the turbo generator market in the power sector in major countries. For each segment, the market sizing and forecasts have been done based on revenue (USD billion).

End User
Coal-fired Power Plant
Gas-fired Power Plant
Nuclear Power Plant
Other End Users
Geography
Germany
United Kingdom
France
Rest of Europe
Need A Different Region Or Segment?
Customize Now

Europe Turbo Generator Market Size Summary

The European turbo generator market is poised for growth, driven by increasing energy demand and the expansion of gas-fired power plants across the region. The market has rebounded to pre-pandemic levels after the setbacks caused by COVID-19. Turbo generators are favored for their direct connection to electrical generators, which results in lower operating costs. However, the shift towards renewable energy sources in countries like Germany and France poses challenges to market expansion. Despite this, the preference for gas over coal in energy-intensive industries in Spain and Germany presents significant opportunities for turbo generator growth. Germany, in particular, is expected to lead the market due to its rapid industrialization and investment in gas-fired power plants, which are crucial for meeting peak power demands.

The demand for turbo generators is further bolstered by the increasing electricity generation from natural gas, which has outpaced coal in several countries, including Spain and Germany. The ability of gas-fired power plants to quickly synchronize with the electricity grid makes them ideal for peak-load power generation. Germany's commitment to reducing reliance on nuclear and coal-fired power plants, alongside its status as a major crude oil refiner, underscores its pivotal role in the turbo generator market. However, the growing share of renewable energy in the electricity mix could restrain market growth. The market is characterized by partial fragmentation, with key players such as Siemens AG, Toshiba Corporation, General Electric Company, Mitsubishi Heavy Industries Ltd, and Andritz AG actively participating. Additionally, plans for new nuclear power plants in the Netherlands and the United Kingdom highlight ongoing investments in energy infrastructure, which could influence the turbo generator market dynamics.

Explore More

Europe Turbo Generator Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD billion, till 2027

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

      2. 1.5.2 Restraints

    6. 1.6 Supply Chain Analysis

    7. 1.7 Porter's Five Forces Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitutes Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 End User

      1. 2.1.1 Coal-fired Power Plant

      2. 2.1.2 Gas-fired Power Plant

      3. 2.1.3 Nuclear Power Plant

      4. 2.1.4 Other End Users

    2. 2.2 Geography

      1. 2.2.1 Germany

      2. 2.2.2 United Kingdom

      3. 2.2.3 France

      4. 2.2.4 Rest of Europe

Europe Turbo Generator Market Size FAQs

The Europe Turbo Generator Market is projected to register a CAGR of greater than 3.5% during the forecast period (2024-2029)

Siemens AG, Toshiba Corporation, General Electric Company, Andritz AG and Mitsubishi Heavy Industries Ltd are the major companies operating in the Europe Turbo Generator Market.

Europe Turbo Generator Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)