Key Market Indicators
The Emirati gas turbine import market is projected to reach approximately $7.6 billion by 2028, up from around $6.8 billion in 2023. This marks an average annual growth rate of 1.7%. Since 2012, the demand in the UAE has seen a yearly increase of 1.8%. On the export front, the Emirati gas turbine sector is expected to grow to about $2.1 billion by 2028, rising from nearly $1.8 billion in 2023. The compound annual growth rate (CAGR) for exports is estimated at 2.3%. Since 2012, the supply has increased at an annual rate of 3.7%. In 2023, the UAE ranked 17th in the world for gas turbine exports, with Belgium surpassing it with exports valued at approximately $1.8 billion. The top three positions were held by France, Singapore, and Germany, respectively.
