Key Market Indicators
Iceland's gas turbine export market is projected to grow significantly, reaching approximately $8.3 million by 2028, up from around $6.6 million in 2023. This marks an average annual growth rate of 3.7%. Since 2012, the country has seen a robust increase in its supply, averaging a 6.3% rise each year. In contrast, Iceland's gas turbine imports are expected to decline. By 2028, imports are forecasted to fall to about $8.2 million from $9 million in 2023, translating to an average annual decrease of 1.5%. Despite this recent downturn, Iceland's demand for gas turbines has surged over the long term, with an average annual increase of 9.3% since 1993.
