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Aeroderivative Gas Turbine Service Market Trends

Report ID: GMI9789
Published Date: Jun 2024
Report Format: PDF

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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.

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market size of aeroderivative gas turbine service was reached USD 3.3 billion in 2023 and is projected to expand at 9.2% CAGR from 2024 to 2032, due to the robust expansion of aerospace and defense industries.

The maintenance service segment in the aeroderivative gas turbine service industry is projected to account for more than USD 1 billion by 2032, owing to growing adoption for power generation across wide multitude of areas.

The OEM service provider segment in the aeroderivative gas turbine service industry is estimated to grow at over 8.5% CAGR between 2024 and 2032, due to the substantial investments in advanced R&D facilities and data management hubs.

Asia Pacific aeroderivative gas turbine service market is projected to surpass USD 2 billion by 2032, due to the growing investments in renewable energy sources and the rising need for backup power solutions.