Global Gas Turbine Services Market – Overview
The global gas turbine services market is estimated to expand at ~4.50% CAGR during the forecast period.
Global gas turbine services market is expected to witness substantial growth during the forecast period owing to growing focus on generating power through cleaner sources and reduce the utilization of coal reserves. Gas turbines are combustion engines that converts natural gas and other liquid fuels to mechanical energy which is used by the generator to produce electrical energy. This electrical energy is then moved to power lines to industries and homes. Gas turbine generally includes maintenance, repair and overhaul for both onshore and offshore locations. These services help in improving power plant capacity.
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The key players of global gas turbine services market are General Electric (US),Siemens (Germany), Sulzer (Switzerland), Ansaldo Energia (Italy), Kawasaki Heavy Industries (Japan), MAN Diesel & turbo (Germany), Mitsubishi Hitachi Power Systems (Japan), MTU Aero Engines (Germany), Proenergy Services (US), MJB International (UAE), Shanghai Electric Group (China), and others.
The growing demand for gas turbine services market is attributed to the growing production of shale gas and stringent emission norms for gas turbine. Also, major oil & gas companies especially in North America require efficient services for their existing and ageing gas turbine fleet which would drive the growth of gas turbine services market. One of the major restraints for the global gas turbine services market is the rising cost of spare parts, labor costs, & transportation costs.
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The gas turbine services market has been segmented based on service into maintenance, repair, and overhaul. Among these types, maintenance segment is the fastest growing segment in the gas turbine services market owing to rise in demand inspection and monitoring services for newly installed gas turbines.
This research report provides insights into various levels of analysis, such as industry analysis and market share analysis for the leading industry competitors, along with their profiles. It also helps in studying the target segments by providing views on the emerging & high-growth segments. The market data comprises the basic assessment of the competitive scenarios and strategies in the global gas turbine services market, including high-growth regions and/or countries, and political and economic environments. The project report further provides both – historical market values and pricing & cost analysis.
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