Global Gas Turbine Services Market Scenario
The
power generation industry is projected to govern the growth pace of the gas
turbine services market to a great extent. Reports that gauge the energy and
power industry have been made available by Market Research Future which creates
reports on several industry verticals that review the market growth and
prospects. The market is expected to capture a 5.15 % CAGR in the forecast
period.
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.
Top Vendors:
The
top vendors in the worldwide gas turbine services market include MTU Aero
Engines (Germany), Proenergy Services (US), Caterpillar (US), Sulzer Ltd
(Switzerland), MAN SE (Germany), EthosEnergy (US), General Electric (US), BHI
Energy (UK), Ansaldo Energia (Italy), Siemens (Germany), Kawasaki Heavy
Industries Ltd (Japan), MJB International Limited LLC (UAE), Mitsubishi Heavy
Industries, Ltd (Japan), to mention a few.
Industry
Highlights
Surging
focus on using cleaner sources for generating electricity along with a
prohibition on using coal reserves has taken the gas turbines service market to
greater heights in recent years. One instance of this includes the latest
orders by the present U.S. government that aims to modify the energy policies
implemented by the previous government.
The
growing usage of the gas turbines in power plants and the upsurge in natural
gas-powered turbines for power generation is anticipated to motivate the market
for gas turbine services. Moreover, the carbon emission reduction initiatives
instated by governments around the world are expected to fuel the market growth
in the coming years. The inclination towards sustainable development is
expected to further encourage the progress of the gas turbine services market
in the forecast period. Also, the upsurge in shale gas production and the
falling natural gas prices are expected to create a favorable outlook for the
expansion of the market for gas turbine services.
Global Gas Turbine Services Market Segmentation
The worldwide gas turbine services market has been examined
with regard to segments like type, service, and end-use.
By Type
- Heavy Duty
- Industrial
- Aeroderivative
By Service
- Maintenance and Repair
- Overhaul
- Spare Parts
Supply
By End-Use
- Power Generation
- Oil & Gas
- Others
By Regions
- North America
- Asia-Pacific
- Europe
- Middle East &
Africa
- South America
Regional Insight
Asia
Pacific (APAC), North America, the Middle East & Africa, South America and
Europe are the primary regions as per which MRFR has studied the gas turbine
services market.
Data
experts at MRFR anticipate that during the forecast period, North America could
attain the top position in the global gas turbine services market with the
highest share of 27.12%. The United States (US) was the most profitable market
for gas turbine services in 2017 and was valued at USD 3,807.5 million. The gas
turbine services market in the region notes robust demand, thanks to the
substantial contribution of Mexico and Canada.
A
large number of long-term service agreements for gas turbine services has been
observed in Europe. Industrialization and urbanization in various countries
have raised the region’s potential as well as opportunities. Surge in the
installation of gas turbines for combined cycle plants and upgradation of
existing gas turbine fleet is boosting market demand in the power generation
segment.
APAC
can record high demand in the coming years, thanks to rapid urbanization and
the high focus on the development of clean energy sources. India and China are
responsible for the strong demand for the power generation market, which is
prompting global gas turbine service providers to create a base in the region.
The
MEA market for gas turbine services can demonstrate impressive growth in the
near future, on account of the high demand for power generation and the
subsequently increasing exploitation of natural gas reserves.
Browse Summary of
this Report at: https://www.marketresearchfuture.com/reports/gas-turbine-services-market-7271
About Market Research Future:
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