Asia Pacific Gas Turbine Service Market Size - By Product (Aero-Derivative, Heavy Duty), By Service (Maintenance, Repair, Overhaul), By Service Provider (OEM, Non-OEM), By Application, By Country Outlook & Forecast, 2024 – 2032

Asia Pacific Gas Turbine Service Market Size

Asia Pacific Gas Turbine Service Market was valued at USD 6.7 billion in 2023 and is estimated to grow at a CAGR of 8.4% from 2024 to 2032. Effective measures to improve the performance of power plants along with increasing focus on clean energy generation will drive the demand for gas turbine services.
 

Gas turbine service involves the maintenance, repair, and optimization of gas turbine engines used in various applications such as power generation, oil and gas, aviation, and industrial processes. These services are aimed at ensuring the reliable and efficient operation of gas turbines throughout their lifecycle. Typical gas turbine services include inspections, troubleshooting, component repair or replacement, performance testing, upgrades, and monitoring for preventive maintenance. The goal is to maximize turbine uptime, extend its operational life, and enhance its overall performance while adhering to safety and environmental regulations.
 

Asia Pacific Gas Turbine Service Market Trends

Gas turbine service is essential for utility, independent power, industrial, and cogeneration plant operators to maintain the reliability and availability of gas turbine engines. Growing industrialization along with increasing demand for energy efficiency will positively impact the industry scenario. In addition, rising focus on sustainable solutions with a push towards greener energy sources and the adoption of environmentally friendly will further drive the industry potential.

Asia Pacific Gas Turbine Service Market Analysis

The maintenance gas turbine service market will exceed over USD 2.5 billion by 2032. The integration of renewable energy sources including wind and solar into the power grid increases the importance of flexible and reliable gas turbine power plants to provide backup power and grid stability, driving the demand for maintenance and support services. These services help in more efficient functioning of the turbines, leading to more output which in turn will favor the business scenario.
 

The OEM gas turbine service provider market size will witness growth rate of over 8% through 2032. The leading manufacturers have invested in robust R&D infrastructure and data management centers, facilitating remote monitoring of gas turbine systems to assess real-time health accurately. Furthermore, OEMs extend multiyear service agreements to operators, encompassing a variety of services, thereby driving industry growth potential. 
 

China gas turbine service market is set to surpass USD 5 billion by 2032. The abundance of natural gas along with implementation of stringent emission regulations will fuel the industry outlook. Ongoing upgradation of existing gas turbine fleets increasing consumer focus to minimize downtime and maximize operational efficiency will positively impact the business landscape.
 

Government initiatives aimed at reducing greenhouse gas emissions combined with rapid urbanization and industrialization will stimulate the Japan gas turbine service market. The rapid economic growth in developing nations coupled with increasing energy demand, especially in developing regions will further boost the industry scenario. Heightened focus on optimizing the performance and longevity of gas turbine assets along with robust deploy of sustainable power generation solutions will escalate the industry scenario.
 

Asia Pacific Gas Turbine Service Market Share

MAN Energy Solutions stands as one of the premier providers of innovative solutions on a global scale, serving diverse industries with a wide-ranging portfolio encompassing power systems, automation technology, and engineering services. Renowned for its unwavering commitment to excellence, sustainability, and customer satisfaction, ABB consistently leads the way in pioneering groundbreaking innovations aimed at optimizing performance, increasing efficiency, and promoting environmental sustainability.
 

Asia Pacific Gas Turbine Service Market Companies

Eminent players operating in the Asia Pacific gas turbine service industry include:

• Ansaldo Energia
• Baker Hughes Company
• Caterpillar
• Centrax Gas Turbines
• EthosEnergy
• General Electric
• Kawasaki Heavy Industries
• MAN Energy Solutions
• Mitsubishi Heavy Industries
• MJB International LLC
• MTU Aero Engines AG
• Opra Turbines
• PROENERGY
• RWG
• Siemens
• Sulzer
• VERICOR
• Zorya-Mashproekt
   

Asia Pacific Gas Turbine Service Industry News

• In March 2023, Sulzer unveiled a groundbreaking gas turbine solution tailored for a powerplant located in Jiangsu Province, China. This innovative retrofit solution, meticulously developed and implemented by Sulzer, targets a substantial reduction of 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 offers significant advantages. It effectively curtails the need for extensive capital expenditure and minimizes lengthy upgrade lead times. Moreover, this solution enhances power generation uptime while concurrently trimming operational expenses.
   
• In January 2021, Zorya-Mashproekt secured contracts with the Gas Transmission System Operator of Ukraine for the overhaul and maintenance of gas turbine engines at various compressor stations. These contracts entail the overhaul of nine gas turbine engines of varying power capacities. Through these overhauls, the engines' lifespan will be extended by 20 thousand hours.
   

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

Click here to Buy Section of this Report

Market, By Service

• Maintenance
• Repair
• Overhaul
• Others

Market, By Product

• Aero-Derivative
• Heavy Duty

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 countries:

• China
• India
• Australia
• Japan
• South Korea
• Indonesia
• Thailand
• Malaysia
• Bangladesh