Market Trends of Europe Gas Turbine Industry
This section covers the major market trends shaping the Europe Gas Turbine Market according to our research experts:
Gas-based Power Generation to Drive the market
- The EU power market has made a significant shift away from coal generation, but mainly to the benefit of gas-based power generation. The EU transition to a low-carbon economy, the gas industry will face significant transformations over the next decades up to 2050 and beyond.
- A gas generation grew from 610.9 TWh in 2015 to 731.3 TWh in 2018, thereby, increasing its share in the European electricity mix. This switch from coal to gas is one of the major factors that is expected to propel the European gas turbine market.
- In 2016, around 8 GW coal plants were closed in the European Union. These plants include 4.9 GW in the United Kingdom, 1.6 GW in the Netherlands, 0.6 GW in Italy, 0.6 GW in Belgium, 0.6 GW in Germany, and 0.2 GW in Poland. Also, Europe has announced the closure of an additional 7 GWs of coal power plants during 2017-2020, which represents less than 5% of the total coal fleet in the region.
- Share of gas-fired power generation in Europe grew from 15.5% in 2015 to 20.8% in 2018. This switch from coal to gas is one of the major factors that is expected to propel the European gas turbine market.
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Germany to Dominate the Market
- Germany is expected to dominate the gas turbine market in Europe. Germany launches one of Europe's most modern gas-fired power plants replacing coal-fired power stations, which helps to drive the gas turbine market.
- German municipal utility, Stadtwerke Kiel, launched the most modern and flexible gas engine-based combined heat and power (CHP) plants on the eastern shore of the Kieler Förde inlet in northern Germany.
- Representatives of Stadtwerke Kiel, Kraftanlagen München GmbH (KAM) and INNIO celebrated the launch with a ceremony marking the culmination of a five-year project. Collectively, the 20 Jenbacher J920 FleXtra gas engines provide a total electrical output of 190 megawatts (MW) and a thermal output of 192 MW.
- Around 40GW of Germany's 40-year-old installed power plant capacity will need to be replaced by 2021. New gas power plants currently being built will primarily replace coal power, which causes much more pollution.
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