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Global Gas Turbine Services Market Share, Growth, Trends, Analysis, Forecast: By Type: Aero-Derivative, Heavy-Duty; By Service: Repair, Maintenance, Overhaul; By End User: Power Generation, Oil and Gas, Others; By Service Provider: OEM, Aftermarket; Regional Analysis; Competitive Landscape; Industry Events and Developments; 2023-2028

Global Gas Turbine Services Market Outlook

The global gas turbine services market size reached a value of over USD 29.59 billion in 2022. The market is further estimated to grow at a CAGR of 4.40% in the forecast period of 2023-2028.

 

Rising Demand for Aero-derivative Gas Turbine Services to Propel the Market Growth

Based on type, the market for aero-derivative gas turbine services is observing a heathy growth. The rising installation of aero-derivative gas turbines, owing to their multiple advantages such as lightweight, higher fuel efficiency, and lower emissions, is bolstering the gas turbine services market growth. Moreover, the growing need to meet industry-specific requirements in aero-derivative gas turbine applications is enhancing the demand for reliable gas turbine services with enhanced performance levels. 

 

The market players are making efforts to offer improved services, including overhaul and repair and scheduled and unscheduled maintenance services, among others, to meet the aero-derivative gas turbine customer expectations, which is likely to favour the market over the forecast period.

 

The Asia Pacific to Account for a Substantial Market Share of the Total Gas Turbine Services Market Value

The increased availability of natural gas in the Asia Pacific region, particularly in countries like China, is leading to an increase in the installation capacity of gas turbines, thereby contributing to the market development. The increasing population, the rapid urbanisation, and the introduction of government initiatives towards decarbonising the economies in the region are anticipated to positively influence the market for gas turbine services.

 

Market Segmentation

Gas turbines, also known as combustion turbines, convert natural gas or other liquid fuels to mechanical energy. This energy drives a generator that produces the electrical energy, which is then transferred along power lines to homes and other businesses. Gas turbine services provide onshore and offshore maintenance, overhaul, and repair services for the turbines.

 

The gas turbine services market by type is divided into:

  • Aero-Derivative
  • Heavy-Duty

 

Based on service, the market is segmented into:

  • Repair
  • Maintenance
  • Overhaul

 

On the basis of end user, the market is classified into:

  • Power Generation
  • Oil and Gas
  • Others

 

Based on service provider, the market is bifurcated into:

  • OEM
  • Aftermarket

 

The regional markets for gas turbine services can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Growing Demand for Electricity to Drive the Market Growth of Gas Turbine Services

The rising demand for electricity from several sectors is surging the need to set up gas turbines that are efficient, durable, and cost-effective. This is also increasing the demand for gas turbine service solutions to boost the flexibility and reliability of gas turbines while reducing the cost of production and environmental footprint. This is favouring the gas turbine services market growth. 

 

In addition, the increasing shortage of fossils like coal and the growing environmental concerns are bolstering the installation of gas turbines, hence driving the demand for gas turbine maintenance and repair services. 

 

The rising inclination towards OEM for gas turbine services as a result of multiple advantages like high-quality products, warranties, and better services is fuelling the market development. Various governments are setting up gas turbines owing to the growing awareness regarding their benefits such as low gestation period and less land and water requirement, which is providing impetus to the market growth. Advancements in gas turbine technologies and the strong presence of market players are expected to augment the market over the forecast period.   

 

Key Players in the Global Market for Gas Turbine Services

The report gives a detailed analysis of the following key players in the global gas turbine services market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

 

  • General Electric Company
  • Siemens AG
  • EthosEnergy Group
  • Sulzer Ltd.
  • Ansaldo Energia S.p.A.
  • Others

 

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2022
Historical Period 2018-2022
Forecast Period 2023-2028
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Type
  • Service
  • End User
  • Service Provider
  • Region
Breakup by Type
  • Aero-Derivative
  • Heavy-Duty
Breakup by Service
  • Repair
  • Maintenance
  • Overhaul
Breakup by End User
  • Power Generation
  • Oil and Gas
  • Others
Breakup by Service Provider
  • OEM
  • Aftermarket
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • General Electric Company
  • Siemens AG
  • EthosEnergy Group
  • Sulzer Ltd.
  • Ansaldo Energia S.p.A.
  • Others

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Service Providers
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Gas Turbine Services Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Gas Turbine Services Historical Market (2018-2022) 
    8.3    Global Gas Turbine Services Market Forecast (2023-2028)
    8.4    Global Gas Turbine Services Market by Type
        8.4.1    Aero-Derivative
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2022)
            8.4.1.3    Forecast Trend (2023-2028)
        8.4.2    Heavy-Duty
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2022)
            8.4.2.3    Forecast Trend (2023-2028)
    8.5    Global Gas Turbine Services Market by Service
        8.5.1    Repair
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2018-2022)
            8.5.1.3    Forecast Trend (2023-2028)
        8.5.2    Maintenance
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2018-2022)
            8.5.2.3    Forecast Trend (2023-2028)
        8.5.3    Overhaul
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2018-2022)
            8.5.3.3    Forecast Trend (2023-2028)
    8.6    Global Gas Turbine Services Market by End User
        8.6.1    Power Generation
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2018-2022)
            8.6.1.3    Forecast Trend (2023-2028)
        8.6.2    Oil and Gas
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2018-2022)
            8.6.2.3    Forecast Trend (2023-2028)
        8.6.3    Others
    8.7    Global Gas Turbine Services Market by Service Provider
        8.7.1    OEM
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2018-2022)
            8.7.1.3    Forecast Trend (2023-2028)
        8.7.2    Aftermarket
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2018-2022)
            8.7.2.3    Forecast Trend (2023-2028)
    8.8    Global Gas Turbine Services Market by Region
        8.8.1    Market Share
            8.8.1.1    North America
            8.8.1.2    Europe
            8.8.1.3    Asia Pacific
            8.8.1.4    Latin America
            8.8.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2018-2022)
        9.1.2    Forecast Trend (2023-2028)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2018-2022)
        9.2.2    Forecast Trend (2023-2028)
        9.2.3    Breakup by Country 
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2018-2022)
        9.3.2    Forecast Trend (2023-2028)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2018-2022)
        9.4.2    Forecast Trend (2023-2028)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2018-2022)
        9.5.2    Forecast Trend (2023-2028)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    Key Indicators for Demand
    10.4    Key Indicators for Price
11    Competitive Landscape
    11.1    Market Structure
    11.2    Company Profiles
        11.2.1    General Electric Company
            11.2.1.1    Company Overview
            11.2.1.2    Product Portfolio
            11.2.1.3    Demographic Reach and Achievements
            11.2.1.4    Certifications
        11.2.2    Siemens AG
            11.2.2.1    Company Overview
            11.2.2.2    Product Portfolio
            11.2.2.3    Demographic Reach and Achievements
            11.2.2.4    Certifications
        11.2.3    EthosEnergy Group
            11.2.3.1    Company Overview
            11.2.3.2    Product Portfolio
            11.2.3.3    Demographic Reach and Achievements
            11.2.3.4    Certifications
        11.2.4    Sulzer Ltd.
            11.2.4.1    Company Overview
            11.2.4.2    Product Portfolio
            11.2.4.3    Demographic Reach and Achievements
            11.2.4.4    Certifications
        11.2.5    Ansaldo Energia S.p.A.
            11.2.5.1    Company Overview
            11.2.5.2    Product Portfolio
            11.2.5.3    Demographic Reach and Achievements
            11.2.5.4    Certifications
        11.2.6    Others
12    Industry Events and Developments

 

List of Key Figures and Tables

1.    Global Gas Turbine Services Market: Key Industry Highlights, 2018 and 2022
2.    Global Gas Turbine Services Historical Market: Breakup by Type (USD Billion), 2018-2022
3.    Global Gas Turbine Services Market Forecast: Breakup by Type (USD Billion), 2023-2028
4.    Global Gas Turbine Services Historical Market: Breakup by Service (USD Billion), 2018-2022
5.    Global Gas Turbine Services Market Forecast: Breakup by Service (USD Billion), 2023-2028
6.    Global Gas Turbine Services Historical Market: Breakup by End User (USD Billion), 2018-2022
7.    Global Gas Turbine Services Market Forecast: Breakup by End User (USD Billion), 2023-2028
8.    Global Gas Turbine Services Historical Market: Breakup by Service Provider (USD Billion), 2018-2022
9.    Global Gas Turbine Services Market Forecast: Breakup by Service Provider (USD Billion), 2023-2028
10.    Global Gas Turbine Services Historical Market: Breakup by Region (USD Billion), 2018-2022
11.    Global Gas Turbine Services Market Forecast: Breakup by Region (USD Billion), 2023-2028
12.    North America Gas Turbine Services Historical Market: Breakup by Country (USD Billion), 2018-2022
13.    North America Gas Turbine Services Market Forecast: Breakup by Country (USD Billion), 2023-2028
14.    Europe Gas Turbine Services Historical Market: Breakup by Country (USD Billion), 2018-2022
15.    Europe Gas Turbine Services Market Forecast: Breakup by Country (USD Billion), 2023-2028
16.    Asia Pacific Gas Turbine Services Historical Market: Breakup by Country (USD Billion), 2018-2022
17.    Asia Pacific Gas Turbine Services Market Forecast: Breakup by Country (USD Billion), 2023-2028
18.    Latin America Gas Turbine Services Historical Market: Breakup by Country (USD Billion), 2018-2022
19.    Latin America Gas Turbine Services Market Forecast: Breakup by Country (USD Billion), 2023-2028
20.    Middle East and Africa Gas Turbine Services Historical Market: Breakup by Country (USD Billion), 2018-2022
21.    Middle East and Africa Gas Turbine Services Market Forecast: Breakup by Country (USD Billion), 2023-2028
22.    Global Gas Turbine Services Market Structure

Key Questions Answered in the Report

In 2022, the market attained a value of above USD 29.59 billion.

The market is assessed to grow at a CAGR of 4.40% between 2023 and 2028.

The key market trends guiding the growth of the market include the rising demand for gas turbine services to ensure the flexible, reliable, and cost-effective operations of gas turbines, favourable government initiatives to set up gas turbines, and advancements in gas turbine technologies.

The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Some of the common gas turbine issues include low or high cycle fatigue, flutter, dynamic behaviour of blades, thermo-mechanical fatigue, and forced response, among others.

The major market drivers include the increasing installation of aero-derivative gas turbines, the rising demand for electricity, and the growing availability of natural gas.

The significant types of gas turbine services include aero-derivative and heavy-duty.

Gas turbines should be maintained at optimal equivalent operating hours (EOH) of hot gas path component and combustor inspection, among others.

The various services in the market include repair, maintenance, and overhaul.

The major end users of gas turbine services include power generation and oil and gas, among others.

The different service providers of gas turbine services, include OEM and aftermarket.

The major players in the market are General Electric Company, Siemens AG, EthosEnergy Group, Sulzer Ltd., and Ansaldo Energia S.p.A., among others.

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