Reports
Sale
Global Gas Turbine Services Market Share, Trends, 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; 2024-2032
Global Gas Turbine Services Market Outlook
The global gas turbine services market size reached a value of over USD 30.89 billion in 2023. The market is further estimated to grow at a CAGR of 4.40% in the forecast period of 2024-2032.
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.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
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 | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Type |
|
| Breakup by Service |
|
| Breakup by End User |
|
| Breakup by Service Provider |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*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 (2018-2023)
8.3 Global Gas Turbine Services Market Forecast (2024-2032)
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 (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.2 Heavy-Duty
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
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 (2018-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 Maintenance
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2023)
8.5.2.3 Forecast Trend (2024-2032)
8.5.3 Overhaul
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2023)
8.5.3.3 Forecast Trend (2024-2032)
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 (2018-2023)
8.6.1.3 Forecast Trend (2024-2032)
8.6.2 Oil and Gas
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2023)
8.6.2.3 Forecast Trend (2024-2032)
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 (2018-2023)
8.7.1.3 Forecast Trend (2024-2032)
8.7.2 Aftermarket
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2023)
8.7.2.3 Forecast Trend (2024-2032)
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 (2018-2023)
9.1.2 Forecast Trend (2024-2032)
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 (2018-2023)
9.2.2 Forecast Trend (2024-2032)
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 (2018-2023)
9.3.2 Forecast Trend (2024-2032)
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 (2018-2023)
9.4.2 Forecast Trend (2024-2032)
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 (2018-2023)
9.5.2 Forecast Trend (2024-2032)
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), 2018-2023
3. Global Gas Turbine Services Market Forecast: Breakup by Type (USD Billion), 2024-2032
4. Global Gas Turbine Services Historical Market: Breakup by Service (USD Billion), 2018-2023
5. Global Gas Turbine Services Market Forecast: Breakup by Service (USD Billion), 2024-2032
6. Global Gas Turbine Services Historical Market: Breakup by End User (USD Billion), 2018-2023
7. Global Gas Turbine Services Market Forecast: Breakup by End User (USD Billion), 2024-2032
8. Global Gas Turbine Services Historical Market: Breakup by Service Provider (USD Billion), 2018-2023
9. Global Gas Turbine Services Market Forecast: Breakup by Service Provider (USD Billion), 2024-2032
10. Global Gas Turbine Services Historical Market: Breakup by Region (USD Billion), 2018-2023
11. Global Gas Turbine Services Market Forecast: Breakup by Region (USD Billion), 2024-2032
12. North America Gas Turbine Services Historical Market: Breakup by Country (USD Billion), 2018-2023
13. North America Gas Turbine Services Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Europe Gas Turbine Services Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Europe Gas Turbine Services Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Asia Pacific Gas Turbine Services Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Asia Pacific Gas Turbine Services Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Latin America Gas Turbine Services Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Latin America Gas Turbine Services Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Middle East and Africa Gas Turbine Services Historical Market: Breakup by Country (USD Billion), 2018-2023
21. Middle East and Africa Gas Turbine Services Market Forecast: Breakup by Country (USD Billion), 2024-2032
22. Global Gas Turbine Services Market Structure
Key Questions Answered in the Report
In 2023, the market attained a value of above USD 30.89 billion.
The market is assessed to grow at a CAGR of 4.40% between 2024 and 2032.
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.
Purchase Options 10% off
Call us
Purchase Full Report
Mini Report
$ 2199
$1999
-
Selected Sections, One User
-
Printing Not Allowed
-
Email Delivery in PDF
-
Free Limited Customisation -
Post Sales Analyst Support -
50% Discount on Next Update
Single User License
$ 3299
$2999
-
All Sections, One User
-
One Print Allowed
-
Email Delivery in PDF
-
Free Limited Customisation -
Post Sales Analyst Support -
50% Discount on Next Update
Five User License
$ 4399
$3999
-
All Sections, Five Users
-
Five Prints Allowed
-
Email Delivery in PDF
-
Free Limited Customisation
-
Post Sales Analyst Support
-
50% Discount on Next Update
Corporate License
$ 5499
$4999
-
All Sections, Unlimited Users
-
Unlimited Prints Allowed
-
Email Delivery in PDF + Excel
-
Free Limited Customisation
-
Post Sales Analyst Support
-
50% Discount on Next Update
Any Question? Speak With An Analyst
View A Sample
Did You Miss Anything, Ask Now
Why Expert Market Research?
Right People
We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.
Right Methodology
We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.
Right Price
We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.
Right Support
Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.
NEWSLETTER