Market
Highlights
Gas turbine services include maintenance, repair,
overhaul, and supply of spare parts. The gas turbine requires periodic
inspection, repair, and replacement of parts to achieve optimum efficiency and
reliability. The gas turbine services include a set of activities, which can be
applied to very minor work and to a major overhaul. It helps to reduce the
outages and maintenance costs while maintaining maximum flexibility and
reliability. It is used to monitor the operation and check the performance of
gas turbines through annual maintenance and repair.
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The growing need for reduced emissions and sustainable
development has increased the use of gas turbines to produce electricity from
natural gas. According to EIA, at the end of December 2017, there were 1,820
natural gas-powered electric power plants in the US. Power plant owners usually
commit to long term service contracts with service providers. For instance, in
January 2018, General Electric signed a 25-year agreement with a consortium
formed between Macquarie Group Limited (Australia) and Techint Group (Mexico),
to provide complete maintenance and service for the gas turbines and other
equipment in their plant.
Segment
Analysis:
The global gas turbine services market has been
segmented based on type, service, end-use, and region. On the basis of type,
the market is segmented into heavy duty, industrial, and aeroderivative. On the
basis of service, the market is segmented into maintenance & repair,
overhaul, and spare parts supply. On the basis of end-use, the market is
classified into power generation, oil & gas, and others. The power
generation industry is expected to dominate the gas turbine services market due
to the increasing use of gas turbine in power plants and increase in natural
gas driven gas turbines for power generation, which is anticipated to drive the
market for gas turbine services, globally.
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Companies
Covered:
The key players of the global gas turbine services
market are MAN SE (Germany), EthosEnergy (US), Proenergy Services (US),
Caterpillar (US), MJB International Limited LLC (UAE), Ansaldo Energia (Italy),
Sulzer Ltd (Switzerland), Mitsubishi Heavy Industries, Ltd (Japan), BHI Energy
(UK), General Electric (US), Siemens (Germany), Kawasaki Heavy Industries Ltd
(Japan), and MTU Aero Engines (Germany).
Regional
Analysis
The global gas turbine services market by region is
segmented into North America, Asia-Pacific, Europe, the Middle East &
Africa, and South America. North America is expected to hold the largest share
in the global gas turbine services market during the forecast period with
27.12% share. The US was the largest market in 2017, valued at USD 3,807.5
million. The growth in gas turbine services in North America can be attributed
to Canada, and Mexico, where the increasing use of gas turbine for marine
propulsion is increasing at a higher pace. The increasing production of shale
gas, growing seaborne trading, and increasing power generation from gas
turbines are some of the major factors contributing to the growth of the global
gas turbine service market
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