The global gas turbine services market is
projected to grow at a high rate during the forecast period, mainly due to the
stringent emission norms for gas turbine and shale gas production boom.
According to EIA, the accelerating pace of technological advancement in the oil
& gas industry would result in growing per well recoveries and increase in
the production of shale gas. As per EIA, the share of natural gas would
increase from 34% in 2018 to 39% by 2050 due to growth in drilling activities.
Thus, the increase in natural gas production would put downward pressure on
natural gas prices which would lead to increased share of electricity generated
through natural gas. This would boost
the market growth of gas turbine services globally.
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Segmentation
Global gas turbine services market has
been segmented based on type, service, service provider, end-user, and region.
Based on service, the market is classified
into maintenance, repair, and overhaul. Maintenance segment is expected to
dominate the gas turbine service market during the forecast period owing to
rise in demand inspection and monitoring services for newly installed gas
turbines.
The global gas turbine services market is
further segmented based on end-user, including power generation, oil & gas,
and other industrial.
Considering the service, the market is segmented
as maintenance, repair, and overhaul. Wireless sensors in the oil & gas
industry are installed in all the upstream, midstream, and downstream
processes. Wireless sensors have a wide variety of applications in the oil
& gas industry varying with different requirements and characteristics.
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Regional
Outlook
Region wise, North America held the
largest market share of the global gas turbine services market in 2017. Large
number of ageing gas turbines fleet especially in the US and Canada would drive
the market for gas turbine services. Large number of long-term service
agreements for gas turbine services are also seen this region. In addition,
demand for gas turbine services for mechanical drive application for process
industry would have a positive impact on gas turbines services market in North
America.
Key
Players
The key players of the global gas turbine
services market are General Electric (US), Siemens (Germany), Sulzer
(Switzerland), Ansaldo Energia (Italy), Kawasaki Heavy Industries (Japan), MAN
Diesel & turbo (Germany), Mitsubishi Hitachi Power Systems (Japan), MTU
Aero Engines (Germany), Proenergy Services (US), MJB International (UAE),
Shanghai Electric Group (China), and others.
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