In 2023, Germany led the European engines and turbines market with a production value of €44.01 billion, representing a 1.88% year-on-year increase. The United Kingdom (€11.31 billion, +2.1%), Denmark (€9.23 billion, +2.18%), Italy (€5.84 billion, +2.47%), and France (€5.52 billion, +0.85%) followed. Sweden (€1.48 billion) and Finland (€1.31 billion) saw declines of -3.38% and -3.13%, respectively. Notably, Greece (+40.29%) and Lithuania (+28.47%) showed the highest growth rates. Serbia (€0.0326 billion, +8.82%) and the Czech Republic (€0.6271 billion, +7.75%) also exhibited strong annual growth.
Future trends to watch for in the European engines and turbines sector include increasing investment in sustainable energy technologies, potential fluctuations due to geopolitical factors, and the continued dominance of Germany due to its robust industrial base. Emerging markets such as Greece and Lithuania may also see significant growth driven by technological advancements and investment incentives.
Top countries in Engines and Turbines Production Value by Country
| # | 10 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 44,010 | 2023 | +3.13% | +1.88% | View data |
| 2 | 2 United Kingdom | 11,310 | 2023 | +2.69% | +2.1% | View data |
| 3 | 3 Denmark | 9,230 | 2023 | +4.92% | +2.18% | View data |
| 4 | 4 Italy | 5,840 | 2023 | -2.2% | +2.47% | View data |
| 5 | 5 France | 5,520 | 2023 | +1.38% | +0.85% | View data |
| 6 | 6 Sweden | 1,480 | 2023 | -0.86% | -3.38% | View data |
| 7 | 7 Spain | 1,350 | 2023 | +2.38% | +2.21% | View data |
| 8 | 8 Finland | 1,310 | 2023 | -2.72% | -3.13% | View data |
| 9 | 9 Poland | 1,100 | 2023 | -6.03% | -6.37% | View data |
| 10 | 10 Czech Republic | 627.1 | 2023 | +4.69% | +7.75% | View data |
