Key Market Indicators
Spanish gas turbine imports are projected to surge to approximately $2.7 billion by 2028, up from around $2.35 billion in 2023. This reflects an average annual growth rate of 2.3%. Historical data indicates that since 1994, Spanish demand for gas turbines has been on a steady climb, increasing by an average of 4.7% each year. On the export front, Spain's gas turbine industry is also set for significant growth. Exports are expected to reach roughly $1.66 billion by 2028, up from about $1.45 billion in 2023, marking an average annual growth rate of 2.2%. Since 1994, Spanish gas turbine exports have seen a robust annual increase of 6.4%. In 2023, Spain ranked 18th globally in gas turbine exports. The United Arab Emirates led the rankings with exports valued at $1.45 billion. Following closely were France, Singapore, and Germany, securing the second, third, and fourth spots, respectively.
