Engine & Turbine Manufacturing in the UK - Industry Market Research Report

Propelling revenue: A bounce back of demand in 2022-23 is boosting profit

Engine & Turbine Manufacturing in the UK

Over the five years through 2022-23, revenue is projected to dip at a compound annual rate of 5.4% to £5.9 billion. Efforts to decarbonise the global supply chain have supported the demand for energy-efficient turbines. In 2021, the UK led the installation of new wind turbines in Europe, with 2,317 new offshore wind installations and 328 new onshore wind installations, indicating strong sales in renewable energy markets. Yet, import penetration has remained high and hindered manufacturing performance. Challenging trading conditions in global industrial markets have resulted in substantial revenue volatility.

Companies in this industry manufacture internal combustion engines. The manufacture of steam and other vapour turbines, hydraulic turbines, wind turbines and gas turbines are included in the industry. In addition, the manufacture of parts like pistons, piston rings, carburettors and exhaust valves is classified within the industry. The manufacture of motor vehicles, aircraft and cycle engines and generator sets is not included in the industry.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.