Report Description

Forecast Period

2024-2028

Market Size (2022)

USD 26.94 billion

CAGR (2023-2028)

6.47%

Fastest Growing Segment

OEM

Largest Market

Asia Pacific

 

Market Overview

The Global Gas Turbine Services Market was valued at USD 26.94 billion in 2022 and is growing at a CAGR of 6.47% during the forecast period. Stringent government regulations pertaining to clean power generation, combined with the implementation of pollution control systems, are anticipated to fuel market growth. Continual technological advancements leading to the design and development of highly efficient gas turbine units will, in turn, drive industry prospects. Furthermore, the adoption of advanced technologies in overhauling, along with the abundant availability of natural gas, is poised to have a positive influence on market expansion.

Key Market Drivers

Aging Gas Turbine Fleet and Maintenance Needs     

One of the key drivers for the global gas turbine services market is the aging gas turbine fleet worldwide. Gas turbines in power plants, industrial facilities, and aviation applications have been in operation for several decades. As these turbines age, they necessitate more frequent and comprehensive maintenance, repairs, and upgrades to ensure reliability, efficiency, and compliance with environmental regulations.

Gas turbines are intricate machines comprising various components, including blades, combustion systems, and control systems. Over time, these components undergo wear and tear, resulting in reduced performance and increased maintenance requirements. Regular inspection, maintenance, and refurbishment are imperative to extend the operational lifespan of gas turbines.

Moreover, advancements in gas turbine technology often require retrofitting or upgrading older turbines to meet modern efficiency and emissions standards. These upgrades, such as the installation of new combustion systems or control systems, present opportunities for gas turbine service providers to offer specialized expertise and solutions.

As the global gas turbine fleet continues to age, the demand for gas turbine services is expected to experience significant growth. Gas turbine service providers provide a wide range of services, including maintenance, repair, parts replacement, and modernization, to assist operators in optimizing the performance and longevity of their assets.

Expanding Energy Generation and Aviation Industries   

The expanding energy generation and aviation industries serve as key catalysts for the global gas turbine services market. Both sectors heavily rely on gas turbines for power generation and propulsion, respectively.

Energy Generation Industry:

Growing Energy Demand: With the increasing global electricity demand, natural gas-fired power plants equipped with gas turbines play a pivotal role in meeting this demand. Gas turbines offer fast-start capabilities and high efficiency, positioning them as the preferred choice for peaking power generation and grid stability.

Combined Cycle Power Plants: The rise in popularity of combined cycle power plants, which integrate both gas and steam turbines, can be attributed to their remarkable thermal efficiency. The maintenance and servicing of both gas and steam turbines in these plants create additional opportunities for gas turbine service providers.

Aviation Industry:

Expanding Commercial Aviation: The commercial aviation sector is witnessing significant growth, driven by the escalating demand for air travel, particularly in emerging markets. Gas turbines power commercial aircraft, and the maintenance and repair of these turbines are crucial for ensuring safe and efficient flights.

Military Aviation:

Gas turbine engines are also utilized in military aircraft, necessitating regular maintenance and servicing to ensure mission readiness and operational effectiveness.

The relentless expansion of these industries propels the demand for gas turbine services. Service providers offer a wide array of solutions, including overhaul, repair, component refurbishment, and engine testing, to cater to the maintenance requirements of gas turbines employed in energy generation and aviation applications.

Focus on Efficiency and Emissions Reduction

Efficiency and emissions reduction have emerged as paramount concerns in the global energy and industrial sectors. Gas turbines, renowned for their high thermal efficiency and lower greenhouse gas emissions compared to other fossil fuel-based power generation technologies, are considered a viable solution to address these concerns.

To enhance the efficiency and mitigate emissions of gas turbines, operators frequently invest in upgrades and retrofits. These modifications encompass the installation of advanced combustion systems, implementation of combined cycle configurations, and adoption of technologies such as dry low emissions (DLE) combustion systems.

Gas turbine service providers play a pivotal role in assisting operators in achieving these efficiency and emissions reduction objectives. They offer their expertise in designing and implementing these upgrades, as well as providing ongoing maintenance and monitoring to ensure optimal performance.

Furthermore, with the tightening of environmental regulations, gas turbine service providers offer comprehensive solutions to aid operators in complying with emission limits and reducing their environmental impact. This includes retrofitting gas turbines with advanced emission control technologies and implementing monitoring systems to accurately track and report emissions data.

The global drive towards cleaner and more efficient energy generation and industrial processes is expected to stimulate the demand for gas turbine services as operators strive to enhance the performance and environmental credentials of their gas turbine assets.


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Key Market Challenges

Technological Advancements and Aging Assets     

The global gas turbine services market faces a significant challenge arising from the interplay between technological advancements and aging assets. Gas turbines are crucial components in various industries, including power generation, aviation, and oil and gas. To maintain competitiveness and efficiency, gas turbine operators and owners must consistently upgrade and maintain their equipment. However, this task becomes increasingly demanding when dealing with older-generation turbines.

A considerable number of gas turbines currently in operation have been in service for several decades. While they have demonstrated their durability, these older turbines often lack the advanced features and efficiencies of modern designs. To comply with stricter emissions regulations, enhance fuel efficiency, and improve overall performance, operators must invest in retrofitting or upgrading these turbines. This challenge presents a two-fold issue.

Firstly, upgrading older turbines requires substantial capital investment. Operators must carefully consider the costs of these upgrades in relation to the benefits of increased efficiency and compliance with environmental regulations. This can pose a barrier, particularly for smaller operators with limited budgets.

Secondly, integrating new technologies into older turbines can present technical complexities. Compatibility issues, retrofitting challenges, and the necessity for highly specialized expertise can slow down the upgrade process and result in operational disruptions.

Evolving Environmental Regulations and Emissions Reduction   

One of the significant challenges faced by the global gas turbine services market is the ever-evolving landscape of environmental regulations and the increasing demand for emissions reduction. Governments around the world are implementing stricter emissions standards to combat climate change and reduce air pollution. These regulations have an impact on various industries, including power generation, aviation, and industrial applications, which rely on gas turbines.

Meeting these stringent emissions requirements requires the development and implementation of advanced technologies within gas turbines. Operators must invest in emissions reduction solutions, such as selective catalytic reduction (SCR) systems and combined-cycle configurations, to lower greenhouse gas emissions and other pollutants.

However, these advanced technologies come with associated costs, both in terms of initial investment and ongoing maintenance. Operators must navigate a complex regulatory environment to ensure that their gas turbines remain compliant with changing emissions standards. Failure to do so can result in fines, operational restrictions, and damage to a company's reputation.

Furthermore, efforts to reduce emissions can impact the overall efficiency and performance of gas turbines, creating a delicate balance between environmental compliance and economic viability.

Competition and Market Consolidation

The global market for gas turbine services is highly competitive, with several dominant players leading the industry. These companies provide a comprehensive range of services, including maintenance, repair, and overhaul (MRO), as well as performance enhancement solutions.

In recent years, market consolidation has become a prominent trend, as larger companies acquire smaller service providers to expand their offerings and customer base. While this consolidation may limit competition, it can also result in higher service prices and reduced options for gas turbine operators.

Smaller, independent service providers often face challenges in competing with the resources and capabilities of larger firms, making it difficult for them to thrive in the market. Furthermore, as gas turbine technology continues to advance, the expertise and knowledge required to service these complex machines become more specialized, further favoring well-established companies.

To overcome these challenges, smaller service providers should concentrate on niche markets, differentiate themselves through innovation or specialized services, or seek partnerships and collaborations to gain access to the necessary resources for effective competition. Market competition and consolidation will continue to shape the dynamics of the gas turbine services industry in the future, creating both opportunities and challenges for businesses operating in this sector.

Key Market Trends

Digitalization and Predictive Maintenance    

One of the prominent trends in the global gas turbine services market is the increasing adoption of digitalization and predictive maintenance technologies. Gas turbine operators are leveraging advanced sensors, data analytics, and machine learning algorithms to monitor the performance of their equipment in real-time. This data-driven approach enables them to detect anomalies, predict potential failures, and proactively schedule maintenance activities.

Predictive maintenance offers several advantages. It minimizes unplanned downtime, reduces maintenance costs, and extends the lifespan of gas turbines. By addressing issues before they escalate, operators can optimize the availability and reliability of their turbines, ensuring uninterrupted power generation or efficient operation in other applications.

Furthermore, the integration of digital twin technology enables operators to create virtual replicas of their gas turbines, simulating various operating conditions and scenarios. This simulation-driven approach aids in optimizing turbine performance, fuel efficiency, and emissions control. As the digitalization of the gas turbine services market continues to evolve, it is likely to revolutionize the way maintenance is conducted and contribute to increased operational efficiency.

Globalization and Expanding Service Portfolios  

The gas turbine services market is becoming increasingly globalized, with service providers expanding their footprints to serve clients in various regions. This trend is driven by the need to support gas turbine installations worldwide, including remote or offshore locations. It is also fueled by the growing demand for comprehensive service portfolios that cover a wide range of turbine types, brands, and applications.

Leading service providers are investing in infrastructure and expertise to establish a global presence, enabling them to deliver timely and efficient services to clients irrespective of their geographical location. This expansion includes the establishment of service centers, spare parts warehouses, and skilled workforce recruitment in strategic locations.

Furthermore, service providers are diversifying their offerings to encompass not only maintenance and repair but also performance enhancement solutions. These solutions aim to optimize gas turbine efficiency, increase power output, and reduce emissions, aligning with the evolving energy landscape's sustainability goals.

In summary, the trends in the global gas turbine services market reflect the industry's response to environmental concerns, technological advancements, and the need for comprehensive and efficient services on a global scale. Digitalization, renewable gas turbines, and globalization are shaping the future of gas turbine services, enabling operators to meet the demands of a changing world.

Segmental Insights

Turbine Type Insights

The Heavy Duty segment holds a significant market share in the Global Gas Turbine Services Market. Gas turbines are utilized in a wide array of heavy-duty applications, encompassing electricity generation, oil and gas processing, petrochemical plants, aviation, marine propulsion, and industrial manufacturing. Each sector presents distinct requirements and challenges, thereby fostering a demand for specialized gas turbine services.

Gas turbines play a pivotal role in the power generation sector, particularly in heavy-duty applications that necessitate high power output and efficiency. Combined cycle power plants, incorporating both gas and steam turbines, are gaining popularity for electricity generation owing to their exceptional efficiency and flexibility.

Numerous heavy-duty gas turbines across the globe have been operational for decades. These mature assets require regular maintenance, upgrades, and repairs to ensure reliability and efficiency. Service providers catering to heavy-duty applications are dedicated to addressing the specific needs of well-established gas turbine installations.

In heavy-duty applications, such as power generation and oil and gas industries, emissions control and compliance with environmental regulations are of paramount importance. Gas turbine service providers offer solutions to reduce emissions through technologies like selective catalytic reduction (SCR) systems, exhaust gas treatment, and combustion optimization.

End-use Insights

The Power Generation segment holds a significant market share in the Global Gas Turbine Services Market. The global demand for electricity continues to rise due to factors such as population growth, urbanization, and industrialization. Gas turbines are a preferred choice for power generation due to their reliable and efficient electricity supply. This surge in electricity demand significantly drives the gas turbine services market as operators aim to maintain high availability and reliability of their gas turbine power plants.

Numerous gas turbine power plants worldwide have been in operation for several decades. As gas turbines age, regular maintenance, repairs, and, in some cases, upgrades are necessary to extend their lifespan and ensure efficiency. Addressing aging infrastructure is a crucial factor contributing to the demand for gas turbine services.

Environmental regulations are becoming increasingly stringent worldwide. Gas turbine power plants must comply with emissions standards to minimize their environmental impact. Gas turbine service providers play a vital role in assisting power plant operators in achieving compliance by offering emissions control solutions, such as selective catalytic reduction (SCR) systems, combustion optimization, and exhaust gas treatment technologies.

The adoption of digitalization and predictive maintenance technologies is revolutionizing the gas turbine services market. Power plant operators leverage data analytics, sensors, and machine learning algorithms to monitor gas turbine performance in real-time. Predictive maintenance aids in identifying potential issues before they lead to downtime, reducing operational disruptions and maintenance costs.


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Regional Insights

The Asia Pacific region is expected to dominate the market during the forecast period. The Asia-Pacific region is currently experiencing significant economic growth, resulting in increased industrialization and urbanization. Consequently, there is a rising demand for electricity and energy-intensive industries such as manufacturing, petrochemicals, and data centers. Gas turbines are preferred for power generation due to their efficiency and flexibility.

The escalating energy demand, coupled with aging infrastructure in certain countries, is driving the requirement for gas turbine services. Many countries in the Asia-Pacific region have been operating gas turbines for several decades, necessitating maintenance, repair, and upgrading to meet modern efficiency and emissions standards. Service providers in the region are capitalizing on this opportunity by offering solutions to enhance the performance and extend the lifespan of these aging assets.

Environmental concerns and the imperative to reduce emissions are gaining prominence within the Asia-Pacific region. Governments are implementing more stringent emissions regulations, pushing operators to adopt cleaner technologies and retrofit existing gas turbines with emission reduction systems. This presents a substantial market opportunity for gas turbine service providers that offer emissions control and compliance services. The adoption of digitalization and predictive maintenance technologies is on the rise in the Asia-Pacific gas turbine services market.

Operators are increasingly recognizing the benefits of real-time monitoring, data analytics, and machine learning in optimizing turbine performance and minimizing downtime. This trend aligns with the broader Industry 4.0 movement, where data-driven decision-making is becoming indispensable.

Recent Developments

  • In December 2019, following the signing of a memorandum of understanding with Serbia's Economy Ministry, MTU announced that Serbia would become a hub for aircraft engine maintenance. A new facility is set to be established in the northern town of Stara Pazova, near Belgrade. Other locations under the corporation's ownership include Rocky Hill, Connecticut; Vancouver, British Columbia; Rzeszów, Poland; Zhu Hai, China; and Dallas, Texas.
  • In February 2022, the Mexican Comisión Federal de Electricidad (CFE) awarded a contract to a consortium formed by Spanish companies Técnicas Reunidas and TSK. The contract entails the design and construction of combined cycle facilities in Valladolid and Mérida, with a projected total capacity of 1,000 MW and 500 MW, respectively.
  • In April 2022, Edra Energy's 2.2 GW combined cycle power station in Alor Gajah, Malacca, Malaysia, emerged as the largest gas-based power plant in the country. Comprising three generating blocks, each equipped with a GE 9HA.02 gas turbine, an STF-D650 steam turbine, a W88 generator, and a Heat Recovery Steam Generator (HRSG).

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
  • Aero-derivative
  • More than 200 MW
  • Less than 100 MW
  • 100 to 200 MW
  • Maintenance & Repair
  • Overhaul
  • Spare parts supply
  • OEM
  • Aftermarket
  • Power Generation
  • Oil & Gas
  • Others
  •  
  • North America
  • Europe
  • South America
  • Middle East & Africa
  • Asia Pacific

 

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:

  • Global Gas Turbine Services Market, By Turbine Type:

o   Heavy Duty

o   Industrial

o   Aero-derivative    

  • Global Gas Turbine Services Market, By Turbine Capacity:

o   More than 200 MW

o   Less than 100 MW

o   100 to 200 MW         

  • Global Gas Turbine Services Market, By Service Type:

o   Maintenance & Repair

o   Overhaul

o   Spare parts supply    

  • Global Gas Turbine Services Market, By Sales Channel:

o   OEM

o   Aftermarket        

  • Global Gas Turbine Services Market, By End-use:

o   Residential

o   Non-Residential  

  • Global Gas Turbine Services Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe

§  France

§  United Kingdom

§  Italy

§  Germany

§  Spain

o   Asia-Pacific

§  China

§  India

§  Japan

§  Australia

§  South Korea

o   South America

§  Brazil

§  Argentina

§  Colombia

o   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, Tech Sci 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).

Global Gas Turbine Services Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

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

4.    Voice of Customers

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 Aeroderivative)

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

5.3.  By Company (2022)

5.4.  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.    Asia-Pacific 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.  Asia-Pacific: Country Analysis

7.3.1.    China 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.    India 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.    Japan 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.    South Korea 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.    Australia 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.    Europe 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.  Europe: Country Analysis

8.3.1.    Germany 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.    United Kingdom 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.    France 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.    Italy 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.    Spain 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.    South America 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.  South America: Country Analysis

9.3.1.    Brazil 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.    Argentina 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.    Colombia 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. Middle East & Africa 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.             Middle East & Africa: Country Analysis

10.3.1.               Saudi Arabia 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.               South Africa 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.               UAE 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.             Challenge

12. Market Trends & Developments

13. Company Profiles

13.1.             Siemens AG

13.1.1.                Business Overview

13.1.2.                Key Revenue and Financials

13.1.3.                Recent Developments

13.1.4.                Key Personnel

13.1.5.                Key Product/Services

13.2.             Mitsubishi Power, Ltd.

13.2.1.                Business Overview

13.2.2.                Key Revenue and Financials

13.2.3.                Recent Developments

13.2.4.                Key Personnel

13.2.5.                Key Product/Services

13.3.             Kawasaki Heavy Industries, Ltd.

13.3.1.                Business Overview

13.3.2.                Key Revenue and Financials

13.3.3.                Recent Developments

13.3.4.                Key Personnel

13.3.5.                Key Product/Services

13.4.             Solar Turbines Inc.

13.4.1.                Business Overview

13.4.2.                Key Revenue and Financials

13.4.3.                Recent Developments

13.4.4.                Key Personnel

13.4.5.                Key Product/Services

13.5.             ATLA S.r.l.

13.5.1.                Business Overview

13.5.2.                Key Revenue and Financials

13.5.3.                Recent Developments

13.5.4.                Key Personnel

13.5.5.                Key Product/Services

13.6.             Bharat Heavy Electricals Ltd.

13.6.1.                Business Overview

13.6.2.                Key Revenue and Financials

13.6.3.                Recent Developments

13.6.4.                Key Personnel

13.6.5.                Key Product/Services

13.7.             EthosEnergy Group

13.7.1.                Business Overview

13.7.2.                Key Revenue and Financials

13.7.3.                Recent Developments

13.7.4.                Key Personnel

13.7.5.                Key Product/Services

13.8.             Ansaldo Energia S.p.A.

13.8.1.                Business Overview

13.8.2.                Key Revenue and Financials

13.8.3.                Recent Developments

13.8.4.                Key Personnel

13.8.5.                Key Product/Services

13.9.             General Electric Company

13.9.1.                Business Overview

13.9.2.                Key Revenue and Financials

13.9.3.                Recent Developments

13.9.4.                Key Personnel

13.9.5.                Key Product/Services

13.10.           Mubadala Investment Company

13.10.1.             Business Overview

13.10.2.             Key Revenue and Financials

13.10.3.             Recent Developments

13.10.4.             Key Personnel

13.10.5.             Key Product/Services

14. Strategic Recommendations

15. About Us & Disclaimer

Figures and Tables

Frequently asked questions

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The market size of the Global Gas Turbine Services Market was USD 26.94 billion in 2022.

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Power Generation segment was the dominant segment in the Global Gas Turbine Services Market in 2022. The global demand for electricity continues to rise due to factors such as population growth, urbanization, and industrialization. Gas turbines are a preferred choice for power generation due to their reliable and efficient electricity supply. This surge in electricity demand significantly drives the gas turbine services market as operators aim to maintain high availability and reliability of their gas turbine power plants.

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Technological Advancements and Aging Assets is one of the challenges of Global Gas Turbine Services Market.

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Focus on Efficiency and Emissions Reduction is one of the drivers of Global Gas Turbine Services Market.Focus on Efficiency and Emissions Reduction is one of the drivers of Global Gas Turbine Services Market.

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Parvati Sharma

Account Manager BD
Press Release

Global Gas Turbine Services Market is expected to grow at a robust CAGR

Sep, 2023

Global Gas Turbine Services Market is expected to grow owing to increase in multi-year service contracts and growth in combined cycle power plant construction throughout the forecast period.