Gas Turbine Services Market Size and Outlook 2031

Report Description

Forecast Period	2027-2031
Market Size (2025)	USD 27.73 Billion
CAGR (2026-2031)	6.93%
Fastest Growing Segment	OEM
Largest Market	Asia Pacific
Market Size (2031)	USD 41.45 Billion

Market Overview

The Global Gas Turbine Services Market will grow from USD 27.73 Billion in 2025 to USD 41.45 Billion by 2031 at a 6.93% CAGR. The Global Gas Turbine Services Market encompasses the maintenance, repair, and overhaul (MRO) of heavy-duty and aeroderivative turbines utilized across power generation, oil and gas, and aviation industries. The market’s expansion is primarily driven by the necessity to extend the operational lifespan of aging infrastructure, enforce strict regulatory compliance regarding emissions, and ensure grid stability amidst the integration of intermittent renewable energy sources. This sustained operational reliance is substantiated by recent industrial data; according to the Energy Institute, in 2025, global natural gas-fired electricity generation increased by 2.5% during the previous year, underscoring the persistent utilization of gas turbine assets which necessitates continuous service support.

However, the market encounters a significant challenge regarding the global energy transition and decarbonization mandates. The accelerating shift toward renewable energy creates long-term investment uncertainty for fossil fuel assets, which may prompt operators to defer capital-intensive service overhauls or accelerate the retirement of older gas turbine units to align with net-zero sustainability goals.

Key Market Drivers

Rising Global Electricity Consumption acts as a primary catalyst for the Gas Turbine Services Market. As industrial activity and urbanization accelerate, the demand for reliable power generation intensifies, forcing existing fleets to operate at higher load factors and necessitating the commissioning of new units. This heightened utilization directly correlates with reduced maintenance intervals and increased demand for parts replacement and overhaul services to prevent unplanned outages. The sustained reliance on gas-fired power is evident in mature energy markets; according to the U.S. Energy Information Administration, in 2025, natural gas was forecast to contribute 40% of U.S. electricity generation, reinforcing the critical baseload and peaking role of these assets. This demand surge is further evidenced by recent procurement trends. According to Turbomachinery Magazine, April 2025, in the 'Gas Turbine Market Report', global gas turbine orders reached nearly 500 units in 2024, marking the highest level of activity since 2002.

Aging Gas Turbine Fleet Modernization is the second critical driver propelling market growth. With a significant portion of the global fleet approaching the end of its initial lifecycle, operators are increasingly prioritizing life-extension programs over capital-intensive new installations. This trend necessitates comprehensive refurbishment, performance upgrade packages, and advanced digital monitoring to maintain efficiency and enforce compliance with stricter emission standards. The financial impact of this service-centric approach is visible in major OEM performance metrics. According to GE Vernova, January 2025, in the 'Fourth Quarter and Full Year 2024 Financial Results', the company reported that Power services orders grew by 10% organically, highlighting the continued investment by utilities in maintaining the operational integrity of their existing infrastructure.

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Key Market Challenges

The accelerating shift toward renewable energy sources and the enforcement of decarbonization mandates present a substantial barrier to the growth of the gas turbine services sector. As utility operators and industrial users prioritize net-zero targets, the long-term viability of fossil fuel assets becomes increasingly uncertain. This ambiguity discourages capital expenditure on major overhauls and long-term service agreements, as stakeholders prefer to minimize spending on infrastructure that faces potential early retirement. Consequently, service providers face reduced demand for extensive life-extension programs and heavy maintenance cycles.

This trend of diverting capital away from conventional thermal assets is evident in recent global investment patterns. According to the International Energy Agency, in 2024, global investment in clean energy technologies reached USD 2 trillion, which was double the amount invested in fossil fuels. This financial disparity indicates a structural reallocation of resources, leaving fewer funds available for the maintenance and modernization of existing gas turbine fleets. As financial support shifts, the volume of high-value service contracts acts as a constraint on the overall revenue potential of the market.

Key Market Trends

Retrofitting gas turbines for hydrogen and green fuel compatibility has emerged as a critical trend as operators seek to decarbonize assets without retiring valuable infrastructure. This movement goes beyond standard life extension by fundamentally altering combustion systems to handle the higher flame speeds and thermal challenges of carbon-free fuels. Engineering advancements are now allowing existing fleets to transition from natural gas to high-hydrogen blends, ensuring compliance with net-zero mandates while maintaining baseload reliability. This technical viability was highlighted when, according to Power Engineering, January 2025, in the article 'GE Vernova is closer to commercializing its 100% hydrogen-fueled dry low NOx combustor', the company successfully validated a combustion system capable of operating on 100% hydrogen with nitrogen oxide emissions below 25 parts per million (ppm).

Concurrently, the market is witnessing a decisive transition to performance-based long-term service agreements (LTSAs) that prioritize outcome certainty over transactional maintenance. As grid complexity increases with renewable penetration, utilities are shifting risk to service providers through contracts that guarantee availability and efficiency metrics. This structural shift toward high-value, recurring service revenue is evident in major financial disclosures. According to Siemens Energy, May 2025, in the 'Earnings Release Q2 FY 2025', the Gas Services segment reported that quarterly revenue increased by 18.7% to €3.16 billion, a surge the company explicitly attributed primarily to strong growth in the service business.

Segmental Insights

The Original Equipment Manufacturer segment represents the fastest-growing category in the Global Gas Turbine Services Market. This expansion is primarily driven by the increasing adoption of Long-Term Service Agreements among power generation utilities. Operators prioritize manufacturers to secure access to proprietary technical data and genuine replacement parts, which are critical for maximizing plant availability and ensuring operational safety. Furthermore, strict adherence to environmental regulations compels utilities to rely on authorized providers for essential upgrades. Consequently, the need for specialized expertise to minimize downtime positions manufacturers as the preferred choice for maintenance contracts.

Regional Insights

Asia Pacific dominates the Global Gas Turbine Services Market, driven by rapid industrialization and soaring electricity demand in major economies like China and India. According to the International Energy Agency (IEA), the region is aggressively transitioning from coal-fired power to cleaner natural gas, resulting in a substantial expansion of the gas turbine fleet. This growing installed base creates a critical need for continuous maintenance, repair, and overhaul services to ensure grid stability and operational efficiency. Consequently, utility providers are prioritizing long-term service agreements to maintain reliability and comply with tightening environmental regulations.

Recent Developments

In October 2024, Ansaldo Energia successfully completed a strategic upgrade of the ENGIE combined-cycle power station in Leinì, Italy. The modernization project focused on enhancing the performance and flexibility of the existing gas turbine assets to meet evolving grid demands. By executing this service intervention, the company improved the plant's operational efficiency and extended its service life, demonstrating its technical expertise in brownfield service activities. This achievement reinforces the company's role in supporting utility operators through tailored maintenance and upgrade solutions that optimize asset value and sustainability.
In August 2024, Mitsubishi Power announced it had received an order to supply core power generation equipment, including an M701F gas turbine, for a new 500-megawatt plant in Sarawak, Malaysia. Crucially, the company also entered into a Long-Term Service Agreement (LTSA) to provide comprehensive maintenance and operational support for the facility. This project highlights the company's focus on servicing advanced power systems that are designed to be hydrogen-ready, thereby ensuring long-term asset reliability and supporting the region's strategic shift towards cleaner and more efficient energy production methods.
In June 2024, Siemens Energy secured a monumental contract worth approximately $1.5 billion to supply and maintain two combined-cycle power plants, Taiba 2 and Qassim 2, in Saudi Arabia. As part of this extensive agreement, the company signed a 25-year long-term service contract, ensuring the sustained performance and reliability of the gas turbines which will add nearly 4 gigawatts of capacity to the national grid. This comprehensive service arrangement aligns with the Kingdom's Vision 2030 energy goals, emphasizing the company's pivotal position in providing resilient energy infrastructure and extended lifecycle support in the Middle East.
In April 2024, Kawasaki Heavy Industries was honored with the Hydrogen Technology of the Year Award for its development of a 1.8 MW class gas turbine capable of running on 100% hydrogen. The recognition, received at a major industry event in the Middle East, highlighted the company's breakthrough research in dry-combustion technology which significantly reduces emissions without relying on water injection. This innovation positions the company at the forefront of the sustainable energy market, promising new avenues for service and retrofitting as the global demand for carbon-neutral power generation solutions continues to accelerate.

Key Market Players

Siemens AG
Mitsubishi Power, Ltd.
Kawasaki Heavy Industries, Ltd.
Solar Turbines Inc.
ATLA S.r.l.
Bharat Heavy Electricals Ltd.
EthosEnergy Group
Ansaldo Energia S.p.A.
General Electric Company
Mubadala Investment Company

By Turbine Type	By Turbine Capacity	By Service Type	By Sales Channel	By End-use	By Region
Heavy Duty Industrial and Aero-derivative	More than 200 MW Less than 100 MW and 100 to 200 MW	Maintenance & Repair Overhaul and Spare parts supply	OEM and Aftermarket	Power Generation Oil & Gas and Others	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global Gas Turbine Services Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Gas Turbine Services Market, By Turbine Type:

Heavy Duty
Industrial and Aero-derivative

Gas Turbine Services Market, By Turbine Capacity:

More than 200 MW
Less than 100 MW and 100 to 200 MW

Gas Turbine Services Market, By Service Type:

Maintenance & Repair
Overhaul and Spare parts supply

Gas Turbine Services Market, By Sales Channel:

OEM and Aftermarket

Gas Turbine Services Market, By End-use:

Power Generation
Oil & Gas and Others

Gas Turbine Services Market, By Region:

North America

United States
Canada
Mexico

Europe

France
United Kingdom
Italy
Germany
Spain

Asia Pacific

China
India
Japan
Australia
South Korea

South America

Brazil
Argentina
Colombia

Middle East & Africa

South Africa
Saudi Arabia
UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Gas Turbine Services Market.

Available Customizations:

Global Gas Turbine Services Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

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Table of content

1. Product Overview

1.1. Market Definition

1.2. Scope of the Market

1.2.1. Markets Covered

1.2.2. Years Considered for Study

1.2.3. Key Market Segmentations

2. Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Key Industry Partners

2.4. Major Association and Secondary Sources

2.5. Forecasting Methodology

2.6. Data Triangulation & Validation

2.7. Assumptions and Limitations

3. Executive Summary

3.1. Overview of the Market

3.2. Overview of Key Market Segmentations

3.3. Overview of Key Market Players

3.4. Overview of Key Regions/Countries

3.5. Overview of Market Drivers, Challenges, Trends

4. Voice of Customer

5. Global Gas Turbine Services Market Outlook

5.1. Market Size & Forecast

5.1.1. By Value

5.2. Market Share & Forecast

5.2.1. By Turbine Type (Heavy Duty, Industrial and Aero-derivative)

5.2.2. By Turbine Capacity (More than 200 MW, Less than 100 MW and 100 to 200 MW)

5.2.3. By Service Type (Maintenance & Repair, Overhaul and Spare parts supply)

5.2.4. By Sales Channel (OEM and Aftermarket)

5.2.5. By End-use (Power Generation, Oil & Gas and Others)

5.2.6. By Region

5.2.7. By Company (2025)

5.3. Market Map

6. North America Gas Turbine Services Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Turbine Type

6.2.2. By Turbine Capacity

6.2.3. By Service Type

6.2.4. By Sales Channel

6.2.5. By End-use

6.2.6. By Country

6.3. North America: Country Analysis

6.3.1. United States Gas Turbine Services Market Outlook

6.3.1.1. Market Size & Forecast

6.3.1.1.1. By Value

6.3.1.2. Market Share & Forecast

6.3.1.2.1. By Turbine Type

6.3.1.2.2. By Turbine Capacity

6.3.1.2.3. By Service Type

6.3.1.2.4. By Sales Channel

6.3.1.2.5. By End-use

6.3.2. Canada Gas Turbine Services Market Outlook

6.3.2.1. Market Size & Forecast

6.3.2.1.1. By Value

6.3.2.2. Market Share & Forecast

6.3.2.2.1. By Turbine Type

6.3.2.2.2. By Turbine Capacity

6.3.2.2.3. By Service Type

6.3.2.2.4. By Sales Channel

6.3.2.2.5. By End-use

6.3.3. Mexico Gas Turbine Services Market Outlook

6.3.3.1. Market Size & Forecast

6.3.3.1.1. By Value

6.3.3.2. Market Share & Forecast

6.3.3.2.1. By Turbine Type

6.3.3.2.2. By Turbine Capacity

6.3.3.2.3. By Service Type

6.3.3.2.4. By Sales Channel

6.3.3.2.5. By End-use

7. Europe Gas Turbine Services Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Turbine Type

7.2.2. By Turbine Capacity

7.2.3. By Service Type

7.2.4. By Sales Channel

7.2.5. By End-use

7.2.6. By Country

7.3. Europe: Country Analysis

7.3.1. Germany Gas Turbine Services Market Outlook

7.3.1.1. Market Size & Forecast

7.3.1.1.1. By Value

7.3.1.2. Market Share & Forecast

7.3.1.2.1. By Turbine Type

7.3.1.2.2. By Turbine Capacity

7.3.1.2.3. By Service Type

7.3.1.2.4. By Sales Channel

7.3.1.2.5. By End-use

7.3.2. France Gas Turbine Services Market Outlook

7.3.2.1. Market Size & Forecast

7.3.2.1.1. By Value

7.3.2.2. Market Share & Forecast

7.3.2.2.1. By Turbine Type

7.3.2.2.2. By Turbine Capacity

7.3.2.2.3. By Service Type

7.3.2.2.4. By Sales Channel

7.3.2.2.5. By End-use

7.3.3. United Kingdom Gas Turbine Services Market Outlook

7.3.3.1. Market Size & Forecast

7.3.3.1.1. By Value

7.3.3.2. Market Share & Forecast

7.3.3.2.1. By Turbine Type

7.3.3.2.2. By Turbine Capacity

7.3.3.2.3. By Service Type

7.3.3.2.4. By Sales Channel

7.3.3.2.5. By End-use

7.3.4. Italy Gas Turbine Services Market Outlook

7.3.4.1. Market Size & Forecast

7.3.4.1.1. By Value

7.3.4.2. Market Share & Forecast

7.3.4.2.1. By Turbine Type

7.3.4.2.2. By Turbine Capacity

7.3.4.2.3. By Service Type

7.3.4.2.4. By Sales Channel

7.3.4.2.5. By End-use

7.3.5. Spain Gas Turbine Services Market Outlook

7.3.5.1. Market Size & Forecast

7.3.5.1.1. By Value

7.3.5.2. Market Share & Forecast

7.3.5.2.1. By Turbine Type

7.3.5.2.2. By Turbine Capacity

7.3.5.2.3. By Service Type

7.3.5.2.4. By Sales Channel

7.3.5.2.5. By End-use

8. Asia Pacific Gas Turbine Services Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Turbine Type

8.2.2. By Turbine Capacity

8.2.3. By Service Type

8.2.4. By Sales Channel

8.2.5. By End-use

8.2.6. By Country

8.3. Asia Pacific: Country Analysis

8.3.1. China Gas Turbine Services Market Outlook

8.3.1.1. Market Size & Forecast

8.3.1.1.1. By Value

8.3.1.2. Market Share & Forecast

8.3.1.2.1. By Turbine Type

8.3.1.2.2. By Turbine Capacity

8.3.1.2.3. By Service Type

8.3.1.2.4. By Sales Channel

8.3.1.2.5. By End-use

8.3.2. India Gas Turbine Services Market Outlook

8.3.2.1. Market Size & Forecast

8.3.2.1.1. By Value

8.3.2.2. Market Share & Forecast

8.3.2.2.1. By Turbine Type

8.3.2.2.2. By Turbine Capacity

8.3.2.2.3. By Service Type

8.3.2.2.4. By Sales Channel

8.3.2.2.5. By End-use

8.3.3. Japan Gas Turbine Services Market Outlook

8.3.3.1. Market Size & Forecast

8.3.3.1.1. By Value

8.3.3.2. Market Share & Forecast

8.3.3.2.1. By Turbine Type

8.3.3.2.2. By Turbine Capacity

8.3.3.2.3. By Service Type

8.3.3.2.4. By Sales Channel

8.3.3.2.5. By End-use

8.3.4. South Korea Gas Turbine Services Market Outlook

8.3.4.1. Market Size & Forecast

8.3.4.1.1. By Value

8.3.4.2. Market Share & Forecast

8.3.4.2.1. By Turbine Type

8.3.4.2.2. By Turbine Capacity

8.3.4.2.3. By Service Type

8.3.4.2.4. By Sales Channel

8.3.4.2.5. By End-use

8.3.5. Australia Gas Turbine Services Market Outlook

8.3.5.1. Market Size & Forecast

8.3.5.1.1. By Value

8.3.5.2. Market Share & Forecast

8.3.5.2.1. By Turbine Type

8.3.5.2.2. By Turbine Capacity

8.3.5.2.3. By Service Type

8.3.5.2.4. By Sales Channel

8.3.5.2.5. By End-use

9. Middle East & Africa Gas Turbine Services Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Turbine Type

9.2.2. By Turbine Capacity

9.2.3. By Service Type

9.2.4. By Sales Channel

9.2.5. By End-use

9.2.6. By Country

9.3. Middle East & Africa: Country Analysis

9.3.1. Saudi Arabia Gas Turbine Services Market Outlook

9.3.1.1. Market Size & Forecast

9.3.1.1.1. By Value

9.3.1.2. Market Share & Forecast

9.3.1.2.1. By Turbine Type

9.3.1.2.2. By Turbine Capacity

9.3.1.2.3. By Service Type

9.3.1.2.4. By Sales Channel

9.3.1.2.5. By End-use

9.3.2. UAE Gas Turbine Services Market Outlook

9.3.2.1. Market Size & Forecast

9.3.2.1.1. By Value

9.3.2.2. Market Share & Forecast

9.3.2.2.1. By Turbine Type

9.3.2.2.2. By Turbine Capacity

9.3.2.2.3. By Service Type

9.3.2.2.4. By Sales Channel

9.3.2.2.5. By End-use

9.3.3. South Africa Gas Turbine Services Market Outlook

9.3.3.1. Market Size & Forecast

9.3.3.1.1. By Value

9.3.3.2. Market Share & Forecast

9.3.3.2.1. By Turbine Type

9.3.3.2.2. By Turbine Capacity

9.3.3.2.3. By Service Type

9.3.3.2.4. By Sales Channel

9.3.3.2.5. By End-use

10. South America Gas Turbine Services Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value

10.2. Market Share & Forecast

10.2.1. By Turbine Type

10.2.2. By Turbine Capacity

10.2.3. By Service Type

10.2.4. By Sales Channel

10.2.5. By End-use

10.2.6. By Country

10.3. South America: Country Analysis

10.3.1. Brazil Gas Turbine Services Market Outlook

10.3.1.1. Market Size & Forecast

10.3.1.1.1. By Value

10.3.1.2. Market Share & Forecast

10.3.1.2.1. By Turbine Type

10.3.1.2.2. By Turbine Capacity

10.3.1.2.3. By Service Type

10.3.1.2.4. By Sales Channel

10.3.1.2.5. By End-use

10.3.2. Colombia Gas Turbine Services Market Outlook

10.3.2.1. Market Size & Forecast

10.3.2.1.1. By Value

10.3.2.2. Market Share & Forecast

10.3.2.2.1. By Turbine Type

10.3.2.2.2. By Turbine Capacity

10.3.2.2.3. By Service Type

10.3.2.2.4. By Sales Channel

10.3.2.2.5. By End-use

10.3.3. Argentina Gas Turbine Services Market Outlook

10.3.3.1. Market Size & Forecast

10.3.3.1.1. By Value

10.3.3.2. Market Share & Forecast

10.3.3.2.1. By Turbine Type

10.3.3.2.2. By Turbine Capacity

10.3.3.2.3. By Service Type

10.3.3.2.4. By Sales Channel

10.3.3.2.5. By End-use

11. Market Dynamics

11.1. Drivers

11.2. Challenges

12. Market Trends & Developments

12.1. Merger & Acquisition (If Any)

12.2. Product Launches (If Any)

12.3. Recent Developments

13. Global Gas Turbine Services Market: SWOT Analysis

14. Porter's Five Forces Analysis

14.1. Competition in the Industry

14.2. Potential of New Entrants

14.3. Power of Suppliers

14.4. Power of Customers

14.5. Threat of Substitute Products

15. Competitive Landscape

15.1. Siemens AG

15.1.1. Business Overview

15.1.2. Products & Services

15.1.3. Recent Developments

15.1.4. Key Personnel

15.1.5. SWOT Analysis

15.2. Mitsubishi Power, Ltd.

15.3. Kawasaki Heavy Industries, Ltd.

15.4. Solar Turbines Inc.

15.5. ATLA S.r.l.

15.6. Bharat Heavy Electricals Ltd.

15.7. EthosEnergy Group

15.8. Ansaldo Energia S.p.A.

15.9. General Electric Company

15.10. Mubadala Investment Company

16. Strategic Recommendations

17. About Us & Disclaimer

Report Description

Table of content

Figures and Tables

Frequently asked questions

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