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Gas Turbine Service Market Share
- Report ID: GMI3614
- Published Date: Apr 2022
- Report Format: PDF
Gas Turbine Service Market Share
Major participants across the market include:
- Siemens
- General Electric
- Mitsubishi Heavy Industries
- Ansaldo Energia
- MAN Energy Solutions
- Kawasaki Heavy Industries
- UEC-Saturn
- Baker Hughes Company
- Caterpillar
- Opra Turbines
- VERICOR
- MTU Aero Engines AG
- Zorya-Mashproekt
- EthosEnergy
- PROENERGY
- MJB International LLC
- Sulzer,
- Centrax Gas Turbines.
Continuous product innovations and collaborations among the key players will foster the business dynamics. In addition, growth ventures and strategic partnerships along with the development of new products will fuel the business growth.
Frequently Asked Questions (FAQ) :
The market size of gas turbine service was valued at over USD 17.5 billion in 2021 and is poised to record a CAGR of more than 8% through 2030 driven by the rising need for periodic inspection, repair, and replacement of parts to achieve optimum availability and reliability.
Demand for heavy-duty gas turbine services is likely to strike a CAGR of around 7.8% through 2030 on account of the rising risks of plant optimization and flexibilization.
The maintenance service segment accounted for over 20% of the industry share in 2021 and will expand with a rising focus on the performance of equipment associated with the combustion process and hot gases.
The market size from the OEM service provider segment is poised to witness a growth rate of over 7.6% through 2030 due to the rising establishment of R&D infrastructure and data management centers.
The North America market is expected to account for USD 4 billion by 2030 owing to the shifting focus toward clean energy generation and the higher availability of abundant & affordable natural gas.
Gas Turbine Service Market Scope
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