Aeroderivative Gas Turbine Service Market Size - By Service (Maintenance, Repair, Overhaul), By Service Provider, By Application (Power Plants, Oil & Gas, Process Plants, Aviation, Marine), By Regional Outlook & Forecast, 2024 - 2032

Aeroderivative Gas Turbine Service Market Size

Aeroderivative Gas Turbine Service Market was valued at USD 3.3 billion in in 2023 and is estimated to grow at a CAGR of over 9.2% between 2024 and 2032. The robust expansion of aerospace and defense industries along with the increasing focus on clean energy generation will fuel the demand for services.
 

Aeroderivative gas turbine service encompass a range of maintenance, repair, and support activities tailored specifically to aeroderivative gas turbine systems used in various applications, including power generation, aerospace, marine propulsion and industrial processes. These services aim to ensure the optimal performance, reliability, and longevity of aeroderivative gas turbines throughout their operational lifecycle. It includes preventive maintenance, troubleshooting, component repair and replacement, performance enhancements, technical support and remote monitoring and diagnostics among others.
 

Aeroderivative Gas Turbine Service Market Trends

The growing trend toward distributed power generation systems particularly in remote and off-grid areas will drive the demand for aero derivative gas turbines services to provide reliable and efficient power solutions. These services encompass maintenance, repair, overhaul, and upgrade services, which are crucial for ensuring optimal performance and extending the operational life of these turbines. In addition, increasing demand for efficient and flexible power generation solutions coupled with rising adoption of renewable energy sources will positively impact the industry potential.
 

Aeroderivative Gas Turbine Service Market Analysis

The maintenance gas turbine service market will exceed USD 1 billion by 2032. The robust expansion of gas turbine fleets along with growing adoption of aeroderivative gas turbines for power generation across wide multitude of areas will increase the demand for maintenance services. These services help in more efficient functioning of the turbines leading to more output, accelerating the industry potential. Moreover, increasing emphasis on predictive maintenance and the use of digital tools for monitoring and diagnostics will in turn institute a favorable business scenario.
 

The OEM gas turbine service market size will witness a growth rate of over 8.5% through 2032. The manufacturers have made substantial investments in advanced R&D facilities and data management hubs, enabling remote monitoring of aeroderivative gas turbine systems for precise real-time health assessment. Additionally, it offers comprehensive multiyear service contracts to operators covering a wide range of services thereby fueling the growth potential of the industry. 
 

Asia Pacific aeroderivative gas turbine service market is set to surpass USD 2 billion by 2032. Growing investments in renewable energy sources complemented by the need for backup power solutions contribute to the expansion of the business potential. Furthermore, government initiatives promoting the adoption of cleaner energy technologies along with stringent environmental regulations will encourage the retrofitting and maintenance of existing gas turbine systems, driving the industry growth.
 

U.S. aeroderivative gas turbine service market will be driven by availability of natural gas resources, this will drive demand for gas turbines, thereby fueling growth in the service market. The rapid economic growth in developing nations, coupled with technological advancements in turbine monitoring and diagnostics, along with the trend of outsourcing maintenance activities to specialized service providers, are fostering market expansion.
 

Aeroderivative Gas Turbine Service Market Share

Siemens stands as one of the global leaders in providing innovative solutions across a diverse array of industries, offering a comprehensive portfolio that spans power generation, automation technology, and engineering services. Renowned for its steadfast dedication to excellence, sustainability, and customer-centric approach, the company consistently drives forward with pioneering innovations aimed at enhancing performance, improving efficiency, and fostering environmental sustainability on a worldwide scale.
 

Aeroderivative Gas Turbine Service Market Companies

The key industry players include:

• Ansaldo Energia
• Centrax Gas Turbines
• Caterpillar
• EthosEnergy
• General Electric
• Kawasaki Heavy Industries, Ltd.
• MJB International Limited LLC
• Mitsubishi Heavy Industries Ltd.
• MAN Energy Solutions
• MTU Aero Engines AG
• Opra Turbines
• PROENERGY
• Siemens
• Sulzer Ltd.
• UEC-Saturn
• VERICOR
   

Aeroderivative Gas Turbine Service Industry News

• In March 2023, Sulzer introduced an innovative gas turbine solution designed specifically for a power plant in Jiangsu Province, China. This retrofit solution, meticulously crafted and executed by Sulzer, aims to reduce nitrogen oxide (NOx) emissions by 120 tonnes annually, aligning with stringent emissions standards. By optimizing combustion stability within the gas turbine, Sulzer's advanced circular solution provides notable benefits. It reduces the necessity for extensive capital expenditure and shortens upgrade lead times. Furthermore, this solution improves power generation uptime while simultaneously reducing operational expenses.
   
• In March 2021, Sulzer expanded its portfolio by acquiring Turbo Services Inc., a prominent independent service provider specializing in aeroderivative gas turbines. This strategic move builds upon Sulzer's successful venture into distributed power applications, following its acquisition of Alba Power. By bolstering its gas turbine service business, Sulzer aims to expand its existing customer base in pump, motor, generator, and turbo services.
   

This aeroderivative gas turbine service market research report includes in-depth coverage of the industry with estimates & forecast in terms of “USD Billion” from 2021 to 2032, for the following segments:

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Market, By Service

• Maintenance
• Repair
• Overhaul
• Others

Market, By Service Provider

• OEM
• Non-OEM

Market, By Application

• Power Plants
• Oil & Gas
• Process Plants
• Aviation
• Marine
• Others

The above information has been provided for the following regions & countries:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • France
  • Germany
  • Russia
  • Italy
  • Netherlands
  • Finland
  • Greece
  • Denmark
  • Romania
  • Poland
  • Sweden
• Asia Pacific
  • China
  • India
  • Australia
  • Japan
  • South Korea
  • Indonesia
  • Thailand
  • Malaysia
  • Bangladesh
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • Kuwait
  • Oman
  • Egypt
  • Turkey
  • Bahrain
  • Iraq
  • Jordan
  • Lebanon
  • South Africa
  • Nigeria
  • Algeria
  • Kenya
  • Ghana
• Latin America
  • Brazil
  • Argentina
  • Peru
  • Chile