Gas Turbine Services Market Overview
Gas turbine is a combustion engine at the heart of a power plant that can convert natural gas or other liquid fuels into mechanical energy, this energy then drives generators that produce electrical energy that travels along power lines to homes and businesses. Mostly, it is used in aviation, where it provides motive power to jet engines. The principle of the gas turbine is the Brayton cycle with air as the working fluid; in which atmospheric air flows through a compressor to create high pressure; Energy is then added by spraying fuel into the air and igniting so that combustion produces high temperatures, then the pressurized gas produced by the high temperatures enters the turbine, producing shaft work output in the process. Natural gas is used to drive gas turbines. The term proposed is due to a complete internal-combustion engine consisting of a compressor, combustion chamber and turbine. An engine that converts liquid fuel and natural gas into mechanical energy with combustion to generate electrical energy is known as a gas turbine, the services provided by a gas turbine are called gas turbine services. Gas turbine services play a very important role in the reliable and stable operation of gas turbine power in which a wheel or rotor, usually fitted with a vane, is made to rotate with a rapid flow of gas. As the turbine generates rotational energy from the fluid which is picked up by the rotor system for useful work or energy, gas turbines experience very high temperatures and stresses. With the turbine running and on load, on-line wet cleaning is performed, a process consisting of a mixture of water and chemical detergent through atomizing spray nozzles located around the compressor air intake plenum, followed by a flushing period using pure water. The global market is growing at a significant growth rate, owing to the reduction in natural gas prices and the increase in shale gas production, the gas turbine services market has witnessed tremendous growth during the forecast period.
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Attributes |
Details |
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Gas Turbine Services Market Value (2022) |
US$ 28.4 Bn |
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Gas Turbine Services Market Projected Value(2032) |
US$ 53.6 Bn |
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Gas Turbine Services Market CAGR (2022-2032) |
6.7% |
Gas Turbine Services Market Dynamics
Focusing on the efficiency of equipment related to the combustion process and exhausting hot gases from turbines is expected to drive the target market. Stringent laws of the government and environment department to reduce the pollution rate are the main factors driving the growth of the gas turbine market. Moreover, increase in load operation for operations of cycle power plants is driving the market growth. Due to rapid industrialization and population, the demand for electricity has increased globally. In addition, increasing demand for efficient energy production is a key factor driving the growth of the target market. However, shortage of skilled professionals, specialized workforce and high cost are some of the factors that restrain the growth of the market.
Technological advancement
Advances in technology are another factor that offers an opportunity to further improve market functioning in a global industry concerned with efficiency. Lower gas prices coupled with favorable incentive schemes to encourage the installation of sustainable energy generation technologies will increase the demand for gas turbine services. Products Involved in Gas Turbine Services The market is developing advanced versions of their products due to new age technological advancements. Major players in gas turbine services are investing more in power systems and creating more modern, time-saving, cost-effective technologies that will positively impact the gas turbine services market. In January 2019, a subsidiary of Mitsubishi Heavy Industries Ltd., which supplies gas turbines with a capacity of 993MW, namely Mitsubishi Hitachi Power Systems of Willis, Texas, US. Here TOMONI provides advanced technology to provide digital systems and some services related to it.
Gas Turbine Services Market Segmentation
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
Gas Turbine Services Market is segmented based on type, application, and region.
Gas Turbine Services Market, By Type
On the basis of type, the Gas Turbine Services Market is segmented into Heavy Duty and Aero derivative, among the types, heavy duty gas turbines are large-sized (over 75MW) industrial gas turbines that are typically used to generate electricity in large power plants. Heavy-duty gas turbines are capable of burning a variety of fuels, from natural gas to heavy liquid residues and aero derivative devices designed to generate power from separate engine exhaust.
Gas Turbine Services Market, By Service
On the basis of Service, the target market is classified into Maintenance, Repair, and Overhaul. Overhaul procedures include stripping, washing, crack testing, inspection, engine preparation and testing, and each is commented briefly in these notes, supported by the general layout of the shop. Turbine repair and maintenance services provide maintenance, repair and overhaul of wind, gas, steam and water turbines, turbines are typically composed of rotor assemblies with attached blades that turn when exposed to fluid or air flow.
Gas Turbine Services Market, By End-User
On the basis of End-User, the target market is classified into Power Generation and Oil & Gas. The power generation industry is expected to dominate the gas turbine services market due to the increasing use of gas turbines in power plants and the growth of natural gas-fired gas turbines for power generation, thereby driving the gas turbine services market globally.
Regional Insights:
On region the Gas Turbine Services Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominates the global gas turbine services market due to availability of natural gas, strict government regulations, focus on developing a sustainable environment, etc. Expansion of power plants in Asia Pacific and Europe, government support could lead to significant growth.
Report Scope:
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Attribute |
Details |
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Base year for estimation |
2022 |
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Forecast period |
2022 – 2032 |
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Market representation |
Revenue in USD Billion & CAGR from 2022 to 2032 |
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Market Segmentation |
By Type- Heavy Duty and Aero Derivative By Service- Maintenance, Repair, and Overhaul By End User– Power Generation and Oil & Gas |
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Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
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Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2022 to 2032. For the purpose of this study, has segmented the Gas Turbine Services Market report based on type, application, and region:
Gas Turbine Services Market, By Type:
- Heavy Duty and Aero Derivative
Gas Turbine Services Market, By Service:
- Maintenance
- Repair
- Overhaul
Gas Turbine Services Market, By Service:
- power Generation
- Oil & Gas
Gas Turbine Services Market, By Region:
- North America
- Middle East & Africa
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- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
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- Latin America
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- Brazil
- Mexico
- Rest of Latin America
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- Asia Pacific
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- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
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- Europe
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- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
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- U.S.
- Canada
- Middle East & Africa
Gas Turbine Services Market Key Players
The key players operating the Gas Turbine Services Market includes
- Mitsubishi Heavy Industries, Ltd. Manufactures a wide variety of heavy machinery, its products and services include power plants, chemical plants, environmental equipment, steel structures, industrial and general machinery, shipbuilding, aircraft, space systems and air conditioning systems. MHI offers solutions for social infrastructure in the energy sector, including environmental with thermal, nuclear, renewable energy and chemical plants.
- Ethos Energy provides rotating equipment services and solutions for power oil and gas and other industries, the company's services include maintenance, optimization and upgrading services related to fuel nozzles, aero derivatives, centrifugal compressors, turbines, generators and transformers, enabling customers to Extending material life cycles and managing assets more effectively.
- ProEnergy Services is a company that provides services and equipment solutions to the power generation industry, offering scheduled maintenance, operations, asset management, technical and diagnostic support, monitoring and other services to gas turbine power plants and renewable energy plant operators.
- Caterpillar, Inc. It is the world's number one manufacturer of construction and mining equipment, including excavators, loaders and tractors as well as forestry, paving and tunneling machines, it also manufactures diesel and natural engines, industrial gas turbines and diesel-electric locomotives.
- MJB International Limited LLC is a privately held company with approximately 206 employees, in the US, the company has significant market share in at least one industry: machinery maintenance and heavy equipment repair services. MJB International is a large independent total service provider to owners and operators of industrial gas turbines worldwide, with a staff skill base of over 2000 man-years of OEM experience in industrial turbine maintenance solutions, with particular specialization in the frame range of turbines.
- Ansaldo Energia SpA manufactures power generation equipment, the company builds turnkey power plants, and supplies power equipment and generators including gas and steam turbines, and provides maintenance solutions for power generation rotating equipment and plants. Sulzer Ltd (Sulzer) is a fluid engineering company. It manufactures and supplies pump equipment.
- Sulzer Ltd. It is a fluid engineering company, it manufactures and supplies pump equipment, the company's products include pumping, mixing, agitation, separation and application technologies for all types of fluids. In addition to maintenance and repair solutions for pumps, turbines, compressors, motors and generators, Sulzer also provides technology-based service solutions for maintenance of complex rotating equipment.
- BHI Energy LLC is an industry-leading provider of specialized services and staffing solutions to meet the daily operations, routine maintenance and capital investment needs of the power generation, oil and gas, industrial, government and power transmission and distribution markets.
- General Electric Company is an American multinational corporation founded in 1892 and incorporated in the state of New York and headquartered in Boston. The company operates in healthcare, aviation, power, renewable energy, digital industry, additive manufacturing, and venture capital and finance, but has since branched out into several sectors, now primarily comprising the first four divisions.
- MAN SE has developed the MGT6000 single shaft turbine with an electrical power range of 6.63 - 7.8 M well developed exclusively for power generation applications - high efficiency combined with a compact package design makes it the perfect solution for CHP applications.
Gas Turbine Services Market Key Issues Addressed
Recent Developments:
- In October 2022, GE announced that it had secured an H-class gas turbine order from Brazil's largest private natural gas operator, Eneva, to support the country's energy growth.
- In September 2022, Sulzer Schmid, a Swiss company pioneering UAV technology for wind rotor blade inspection, announced in September that it had completed its fourth consecutive European inspection mission for Vestas, covering 4,000 wind turbines in seven countries in northern and central Europe.
- In September 2019, specialty chemical group Evonik Industries selected Siemens to build a combined cycle power plant as a turnkey project at the Marl Chemical Park in North Rhine-Westphalia, Germany.
Gas Turbine Services Market Company Profile
- MAN SE*
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Ethos Energy
- Proenergy Services
- Caterpillar, Inc.
- MJB International Limited LLC
- Ansaldo Energia SpA
- Sulzer Ltd.
- Mitsubishi Heavy Industries, Ltd.
- BHI Energy LLC
- General Electric Company
“*” marked represents similar segmentation in other categories in the respective section
Gas Turbine Services Market Table of Contents
- Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years Considered for the study
- Assumptions
- Abbreviations
- Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary Sources
- Key Thickness Insights
- Secondary Data
- Major Secondary Sources
- Secondary Sources
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
- Market Preview
- Executive Summary
- Key Findings—Global Outlook for Gas Turbine Services Strategies
- Key Questions this Study will Answer
- Market Snippet, By Type
- Market Snippet, By Service
- Market Snippet, By End User
- Market Snippet, By Region
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- Market Segmentation, By Type 2022 – 2032, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Segment Trends
- Heavy Duty
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Aero Derivative
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Overview
- Market Segmentation, By Service 2022 – 2032, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Segment Trends
- Maintenance
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Repair
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Overhaul
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Overview
- Market Segmentation, By End User, 2022 – 2032, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Segment Trends
- Power Generation
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Oil & Gas
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Overview
- Global Market, By Region, 2022 – 2032, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Regional Trends
- North America
- Market Size and Forecast (US$ Bn), By Type, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Service, 2022 – 2032
- Market Size and Forecast (US$ Bn), By End User, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Bn), By Type, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Service, 2022 – 2032
- Market Size and Forecast (US$ Bn), By End User, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
- UK
- France
- Germany
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Bn), By Type, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Service, 2022 – 2032
- Market Size and Forecast (US$ Bn), By End User, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
- India
- Japan
- South Korea
- China
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast (US$ Bn), By Type, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Service, 2022 – 2032
- Market Size and Forecast (US$ Bn), By End User, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Market Size and Forecast (US$ Bn), By Type, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Service, 2022 – 2032
- Market Size and Forecast (US$ Bn), By End User, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
- GCC
- Israel
- South Africa
- Rest of Middle East
- Overview
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Company Profiles
- MAN SE
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Ethos Energy
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Proenergy Services
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Caterpillar, Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- MJB International Limited LLC
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Ansaldo Energia SpA
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Sulzer Ltd.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Mitsubishi Heavy Industries, Ltd.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- BHI Energy LLC
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- General Electric Company
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- The Last Word
- Future Impact
- About Us
- Contact
FAQs
The gas turbine services market is segmented based on type, service, end user and region.
Rising demand of clean energy production is the major factor driving growth of the global market.
North America dominates in the global gas turbine services market in terms of revenue.
The Key players operating in the Gas Turbine Services Market includes MAN SE, Ethos Energy, Proenergy Services, Caterpillar, Inc., MJB International Limited LLC, Ansaldo Energia SpA, Sulzer Ltd., Mitsubishi Heavy Industries, Ltd., and BHI Energy LLC, General Electric Company.