Gas Turbine Services Market - Global Growth, Trends and Forecast (2022 - 2027) By Types, By Application, By Regions and By Key Players General Electric, Mitsubishi Hitachi Power Systems

The global Gas Turbine Services market is anticipated to reach the market value of US$ 21500 billion by the end of 2027, with a CAGR of 4.0% during 2022-2027.

Gas Turbine Services Market Overview

The engine that converts liquid fuels and natural gas to mechanical energy for creating electrical energy with burning is known as a gas turbine. The services provided by the gas turbine is called gas turbine services. The market in the global market is growing at a significant growth rate. Owing to the reduction in the price of natural gas and an increase in shale gas production, the gas turbine service market has witnessed marvelous growth during the forecasted period. The main reason that has increased the use of gas turbines is the growing need for sustainable development and reduced releases to produce electricity from natural gas.

Government rules requiring clean energy generation, as well as the implementation of pollution control technologies, will fuel market expansion. The industry's outlook will be boosted by ongoing technological breakthroughs that result in the design and development of highly efficient gas turbine units. Furthermore, better overhauling technologies combined with ample natural gas supply would significantly influence market expansion.

Gas Turbine Services Market Growth Drivers

• Effective measures to improve the performance of power plants


• Focus on clean energy generation


• Upgradation of aging fleets of gas turbines


• Stringent government norms to limit carbon emissions


• Reducing dependency on conventional coal-fired plants

Industry News and Updates

28 April 2021: Siemens Energy to supply F-class gas turbine to new power plant in Côte d’Ivoire-- 

Siemens Energy has signed an agreement with Spanish EPC contractor TSK to provide the company’s highly efficient energy technology and services to Atinkou (formerly known as Ciprel V), a new combined cycle power plant to be built in Jacqueville, Côte d'Ivoire. Owned by ATINKOU S.A., a subsidiary of Eranove, the power plant will have an installed capacity of 390 MW in combined cycle and introduces the first F-class gas turbine in the Sub-Saharan Africa. The plant is scheduled to begin operations in late 2022. 

What are the major Applications, Types and Regions for Gas Turbine Services Market?

By Type, it is segmented into

• Power Generation


• Oil & Gas


• Others

By Applications it is segmented into

• Heavy Duty Services


• Aero-Derivative Services


• Others

Gas Turbine Services Market Regional Analysis

The North American region holds the highest part of the market due to the presence of the United States, which has many competing important players, and so this region dominates the market. Also, due to their expanding usage of gas turbine service in marine propulsion, burgeoning seaborne business, shale gas, and the increasing use of gas turbines in power generation, Mexico and Canada are the top players.

•  North America
  
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East & Africa
  
  
  • Latin America
  
  
  
  

The Gas Turbine Services Market describes the factors driving the global growth opportunities in upcoming years and highlights market channels. In addition, the report analyzes market size and share, trends, by geographic region, end-use type and segment. It focuses extensively on revealing a detailed regional analysis. The Global Gas Turbine Services Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.

What is our Gas Turbine Services Market Report Scope?

Key Takeaways from this Gas Turbine Services Report

• Evaluate Gas Turbine Services market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals.


• Understand the different dynamics influencing the market - growth driving factors, specific challenges and hidden opportunities.


• Get in-depth insights on your competitor performance – revenue, shares, business strategies, financial benchmarking, product benchmarking, SWOT analysis and more.


• Analyze the sales and distribution channels across geographies to enhance top-line revenues.


• Understand the demanding supply chain with a deep dive on the value augmentation at each, in order to optimize value and bring efficiencies in your processes.


• Get a quick outlook on the Gas Turbine Services market entropy - M&A's, deals, partnerships, product launches of all key players for the past 4 years.


• Evaluate the import-export statistics, supply-demand and competitive landscape for more than top 20 countries globally for the market.

Frequently Asked Questions

What is the growth rate of Gas Turbine Services Market?

The Gas Turbine Services Market is growing at a CAGR of 4.0% over the next 5 years.

Who are the key players in Gas Turbine Services Market?

General Electric, Mitsubishi Hitachi Power Systems, Siemens, Wood Group, Kawasaki Heavy Industries, Solar Turbines, MTU Aero Engines, Ansaldo Energia, Sulzer, MAN Diesel & Turbo, MJB International, Proenergy Services

What are the significant types of Gas Turbine Services Market?

Power Generation, Oil & Gas, Others

What are the major end-use applications of Gas Turbine Services Market?

Heavy Duty Services, Aero-Derivative Services, Others

All our reports are custom made to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report as your needs.