£6.1bn
£XXX.Xm
21,719
305
£XXX.Xm
Over the five years through 2023-24, industry revenue is projected to tank at a compound annual rate of 6.3% to £6.1 billion. Efforts to decarbonise the global supply chain have supported domestic 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. However, import penetration has remained high and hindered manufacturing performance. Similarly, challenging trading conditions in global industrial markets have resulted in substantial revenue volatility.
Industry revenue has declined at a CAGR of 6.3 % over the past five years, to reach an estimated £6.1bn in 2023.
Market size is projected to decline over the next five years.
Company | Market Share (%)
2024 | Revenue (£m)
2024 |
---|---|---|
Cummins Ltd | 2,172.5 | |
Perkins Engines Company Ltd | 1,902.4 | |
Siemens Energy Industrial Turbomachinery Ltd | 358.8 |
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Industry revenue is measured across several distinct product and services lines, including Engine and turbine parts, Industrial engines and Gas and steam turbines. Engine and turbine parts is the largest segment of the Engine & Turbine Manufacturing in the UK.
Emission regulations lower domestic sales of industrial diesel engines
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.
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SIC 28.11 - Engine & Turbine Manufacturing in the UK
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
An uncertain economic climate has squeezed revenue growth. Economic uncertainty caused by things like Brexit, the cost-of-living crisis and the pandemic has eaten into profit...
Learn about an industry's products and services, markets and trends in international trade.
Renewable energy turbine manufacturers are gaining popularity. An upwards trend toward using renewable energy has stimulated sales of parts that make up alternative energy so...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Scotland is home to lots of onshore wind farms. This attracts engine and turbine manufacturers to the region. Scotland’s geography makes it a perfect location for harnessing ...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Smaller manufacturers can tap into offering diverse product ranges. This is a great way for them to stand out from their competitors and differentiate themselves. Several sma...
Learn about the performance of the top companies in the industry.
Export growth in international markets is bringing new opportunities. The weak UK exchange rate has opened up opportunities for international trade for many engine and turbin...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Demand from electricity production influences performance. When electricity production inflates, demand for turbines follow suit, as turbines are an integral part of electric...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
The industry is becoming increasingly reliant on automation. Advances in technology are benefiting the industry as manufacturers are able to increasingly use machinery to car...
Including values and annual change:
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Key data sources in the UK include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
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The market size of the Engine & Turbine Manufacturing in the UK industry in United Kingdom is £6.1bn in 2024.
There are 305 businesses in the Engine & Turbine Manufacturing in the UK industry in United Kingdom, which has grown at a CAGR of 1.2 % between 2018 and 2023.
The market size of the Engine & Turbine Manufacturing in the UK industry in United Kingdom has been declining at a CAGR of 6.3 % between 2018 and 2023.
Over the next five years, the Engine & Turbine Manufacturing in the UK industry in United Kingdom is expected to decline.
The biggest companies operating in the Engine & Turbine Manufacturing market in United Kingdom are Cummins Ltd, Perkins Engines Company Ltd and Siemens Energy Industrial Turbomachinery Ltd
Industrial engines and Gas turbines are part of the Engine & Turbine Manufacturing in the UK industry.
The company holding the most market share in United Kingdom is Cummins Ltd.
The level of competition is high and steady in the Engine & Turbine Manufacturing in the UK industry in United Kingdom.