Energy & Power / 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
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?
Report Attributes
Report Details
Forecast Period 2022 to 2027 CAGR
CAGR of 4.0% over the forecast period (2022-2027)
By Type
Power Generation
Oil & Gas
Others
By Application
Heavy Duty Services
Aero-Derivative Services
Others
By Companies
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
Regions Covered
North America
Europe
Asia-Pacific
Rest of the World
Countries Covered
US
Canada
Germany
France
UK
Italy
Spain
Rest of Europe
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East & Africa
Latin America
Base Year
2022
Historical Year
2017 to 2021
Forecast Year
2022 to 2027
Number of Pages
134
Customization Available
Yes, the report can be customized as per your needs
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.
INTRODUCTION
MARKET DEFINATION
MARKET DYNAMICS
MARKET SEGMENTATION
REPORT TIMLINES
KEY STAKEHOLDERS
RESEARCH METHODOLOGY
DATA MINING
SECONDARY RESEARCH
PRIMARY RESEARCH
SUBJECT MATTER EXPERT ADVICE
QUALITY CHECK
FINAL REVIEW
DATA TRIANGULATION
BOTTOM-UP APPROACH
TOP-DOWN APPROACH
RESEARCH FLOW
EXECUTIVE SUMMARY
INTRODUCTION
GLOBAL GAS TURBINE SERVICES MARKETBY TYPES
GAS TURBINE SERVICES MARKET BY APPLICATIONS
MARKET DYNAMICS
DRIVERS
INCREASING DEMAND FOR GAS TURBINE SERVICES
RESTRAINTS
STRINGENT ENVIRONMENTAL REGUALTIONS
HIGH COST ON MATERIALS
OPPORTUNITIES
GAS TURBINE SERVICES GROWTH
APPLICATION OF GAS TURBINE SERVICES
IMPACT OF COVID 19
GLOBAL GAS TURBINE SERVICES MARKET, TYPES
Introduction
Power Generation
Oil & Gas
Others
GLOBAL GAS TURBINE SERVICES MARKET, BY APPLICATION
SECONDARY RESEARCH Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.