Key Market Indicators
Belgium's gas turbine exports are on track to hit approximately $2.4 billion by 2028, rising from around $2.1 billion in 2023. This represents a compound annual growth rate (CAGR) of 2.6%. Since 2004, the country's gas turbine supply has increased by an average of 3% per year. In 2023, Belgium ranked 16th in global gas turbine exports, with Russia surpassing it at the same export value of approximately $2.1 billion. France, Singapore, and Germany held the second, third, and fourth positions, respectively, in this ranking. On the import side, Belgium is projected to see its gas turbine imports reach around $2.2 billion by 2028, up from roughly $1.9 billion in 2023. This also reflects a 2.6% annual growth rate. Since 2004, Belgian demand for gas turbines has grown by an average of 4.1% each year.
