Germany leads the European engines and turbines market with a turnover of €58.17 billion in 2024, though its year-on-year growth in 2023 was a modest 2.03%. Denmark follows with €16.83 billion and a notable 8.41% growth rate. The United Kingdom and Italy show moderate increases of 1.98% and 9.73%, respectively. France saw a decline of 3.77%, while Sweden and Finland also experienced slight dips. Top performers in growth include Serbia at 18.64% and Greece at 14.17%, despite their smaller market sizes. Lithuania had the highest growth rate at 28.47%, albeit from a minimal base.
Looking ahead, watch for increased investments in green technology and renewable energy sectors potentially driving further market shifts, with Germany and Denmark poised to maintain leadership. Emerging markets like Lithuania and Serbia could continue to see rapid growth if they capitalize on technological advancements and infrastructure improvements.
Top countries in Engines and Turbines Turnover by Country
| # | 10 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 58,170 | 2023 | +3.3% | +2.03% | View data |
| 2 | 2 Denmark | 16,830 | 2023 | +6.09% | +8.41% | View data |
| 3 | 3 United Kingdom | 12,530 | 2023 | +2.48% | +1.98% | View data |
| 4 | 4 Italy | 7,960 | 2023 | +8.95% | +9.73% | View data |
| 5 | 5 France | 5,340 | 2023 | +2.49% | -3.77% | View data |
| 6 | 6 Sweden | 2,010 | 2023 | +0.39% | -1.13% | View data |
| 7 | 7 Finland | 1,940 | 2023 | -1.51% | -2.7% | View data |
| 8 | 8 Poland | 1,570 | 2023 | +0.84% | -1.13% | View data |
| 9 | 9 Spain | 1,310 | 2023 | -0.39% | +3.38% | View data |
| 10 | 10 Czech Republic | 654.6 | 2023 | +4.74% | +6.71% | View data |
