From 2014 to 2023, the sold production of gas turbines in Italy saw a notable decline marked by significant year-on-year fluctuations. By 2023, the production value stood at 0.49534 Billion Euros. Key year-on-year changes included drastic drops in production from 2016 to 2021, with especially steep declines in 2019 and 2020. A rebound occurred in 2022 with a substantial increase of 566.54%, stabilizing somewhat in 2023 with a 13.25% rise. The compound annual growth rate (CAGR) over the last 5 years up to 2023 was -4.47%.
Future trends from 2024 to 2028 indicate a moderate decline, with a forecasted 5-year CAGR of -2.07%, suggesting an overall 9.91% decrease in production value over this period.
Future trends to watch for in the gas turbine market include advancements in turbine efficiency, shifts towards renewable energy sources, and potential impacts of regulatory changes aimed at reducing carbon emissions.
