Global gas turbine MRO market is expected to grow at a CAGR of 3.5% in the forecast period of 2021-2028.
The gas turbine is a combustion turbine that can convert natural gas and other liquid fuels to mechanical energy or electrical energy. The gas turbine heats a mixture of air and fuel at high temperatures, making the turbine blades to spin. The spinning turbine drives a generator that turns the mechanical energy into electricity.
The gas turbine is used in industries for power generation and mechanical drive applications, the turbines are also used in oil and gas for compressors to inject gas into the wells to force oil up via another bore, or to compress the gas for transportation. And also used in marine for power generation and as an auxiliary power source in aircraft.
The continuous working of the gas turbine requires maintenance, repair and overhaul services to work efficiently with improved performance.
Gas Turbine MRO Market Dynamics
Growing number of gas turbine installations, as gas turbines have less operating cost as compare to other low-carbon emission alternatives like nuclear and renewable energy, this has driven the market for global gas turbine MRO market.
Preventive-maintenance and predictive-maintenance help in reducing the cost of maintenance for a gas turbine, this is the primary reason that boosting global gas turbine MRO market globally.
Gas turbines manufacturers are creating highly durable turbines that require less number/ frequency of service which would be a significant restraint for global MRO market.
The high maintenance cost for gas turbines is the significant restraint for global gas turbine MRO market.
Gas Turbine MRO Market Segmentation
By service type
Gas turbine systems have two life cycle periods they are within the first six months of operation and after ten years of operations. During quarterly inspection of the gas turbine, the maintenance technician collects turbine system performance data on variables such as vibration, pressures, temperatures, and outputs. The original equipment manufacturer (OEM) then analyzes the data and issues a serviceability report.
The maintenance needed for the compressor is that done once in every 32,000 hours (about four years), as part of a total shop overhaul and rebuilding of the entire turbine.
The US market is experiencing growth for the establishment of small-scale turbines, with an increased focus on efficiency. By 2038, the natural gas-fired generation facilities are expected to grow by 348,000 MW of gas-fired capacity to the US grid.
Asia Pacific region has shown considerable growth in gas turbine MRO market in recent years. According to the International Energy Agency (IEA), the developing areas of Asia accounted for two-thirds of the global energy growth in 2017.
The Gas turbine MRO market is highly competitive with a present of largest players globally. The increase in competitiveness for gas turbine MRO market has driven the market growth.
In October 2017, GE Power has received a contract of USD 141 million from Saudi Electricity Company (SEC) to provide maintenance, parts, and repairs services for eight GE 7F.05 gas turbines installed at Riyadh Power Plant 12 (PP12).
In August 2017, Siemens has expanded an existing service agreement with KAR Group in Iraq to provide comprehensive operations and maintenance (O&M) for two newly added SSC5-2000E power plant units at the Khormala plant in the Kurdistan region.
In July 2017, MTU Maintenance, the world's largest independent provider of maintenance services for LM series industrial gas turbines, has extended its contract with Sahacogen (Chonburi) Public Company Limited for the maintenance, repair, and overhaul of its three LM6000PC gas turbines. The agreement is valued at over USD 35 million Till 2023.
Key market segments covered
By service type
By end-user type
- Power generation
- Oil and gas
By region type
- Asia Pacific
- North America
- South America
- Rest of the world
Why purchase the report?
- Visualize the composition of the gas turbine MRO market across each indication, regarding service type, and by end user highlighting the vital commercial assets and players.
- Identify business opportunities in gas turbine MRO market by analyzing trends and co-development deals.
- Excel data sheet with thousands of data points of the gas turbine MRO market - level 4/5 segmentation
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study
- Product mapping in excel for the gas turbine MRO products of all major market players
- Raw Material Suppliers/ Buyers
- Product Suppliers/ Buyers
- Industry Investors/Investment Bankers
- Education & Research Institutes
- Research Professionals
- Emerging Companies
Table of Contents
1. Global Gas Turbine Mro Market-Scope And Methodology
- 1.1. Research Methodology
- 1.2. Scope Of The Market
2. Global Gas Turbine Mro Market -Trends And Developments
- 2.1. Key Market Trends And Developments In The Gas Turbine Mro Market
3. Industry Analysis
- 3.1. Drivers
- 3.2. Restraints
- 3.3. Porter's Five Forces Analysis
- 3.4. Regulations
4. Global Gas Turbine Mro Market Segmentation By Product
- 4.1. By Service Type
- 4.1.1. Maintenance
- 4.1.2. Repair
- 4.1.3. Overhaul
- 4.2. By End-User Type
- 4.2.1. Power Generation
- 4.2.2. Oil And Gas
- 4.2.3. Marine
- 4.2.4. Others
5. Global Gas Turbine Mro Market- By Geography
- 5.1. North America
- 5.1.1. U.S.A
- 5.1.2. Mexico
- 5.1.3. Canada
- 5.2. Europe
- 5.2.1. Germany
- 5.2.2. The U.K.
- 5.2.3. France
- 5.2.4. Rest Of Europe
- 5.3. South America
- 5.3.1. Brazil
- 5.3.2. Argentina
- 5.3.3. Rest Of South America
- 5.4. The Asia Pacific
- 5.4.1. China
- 5.4.2. India
- 5.4.3. Japan
- 5.4.4. Rest Of Asia Pacific
- 5.5. Rest Of The World
6. Competitive Landscape
- 6.1. Product Benchmarking
- 6.2. Market Share Analysis
- 6.3. Key Strategies By Market Players
7. Company Profiles
- 7.1. General Electric Co.
- 7.2. Fluor Corporation
- 7.3. Siemens Ag
- 7.4. Mitsubishi Heavy Industries, Ltd
- 7.5. Bechtel Corporation
- 7.6. Wood Group Gts
- 7.7. Amec Foster Wheeler Plc
- 7.8. Sulzer Corporation
- 7.9. Babcock & Wilcox Enterprises Inc.
- 7.10. Tgm Turbinas (Now Weg Sa)
- 8.1. Sources
- 8.2. List Of Tables
- 8.3. Expert Panel Validation
- 8.4. Disclaimer
- 8.5. Contact Us