Key Market Indicators
Germany is poised to see its gas turbine imports soar to approximately $16.6 billion by 2028, up from $14.5 billion in 2023. This reflects an average annual growth rate of 2.2%. The country's demand for gas turbines has been on an upward trajectory since 1996, increasing by an average of 2.1% each year. On the export front, German gas turbine shipments are expected to hit around $14.4 billion by 2028, rising from $12.8 billion in 2023. This marks a compound annual growth rate (CAGR) of 1.8%. Over the past few decades, since 1996, Germany's gas turbine supply has grown at an annual rate of 1.3%. In 2023, Germany ranked fourth in global gas turbine exports. Singapore led the pack with exports valued at $12.8 billion, followed by France and then Germany. Notably, France and Singapore secured the second and third spots, respectively, in this competitive market.
