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Gas Turbine Service Market Share

Report ID: GMI3614
Published Date: Nov 2024
Report Format: PDF

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Gas Turbine Service Market Share

Gas Turbine Service Company Market Share Analysis, 2024

The key players in the gas turbine service industry are adopting several strategies to enhance their market position and ensure sustainable growth. The companies are investing in digitalization and automation technologies including predictive maintenance and condition monitoring systems, to optimize performance and reduce downtime. Strategic partnerships and collaborations with original equipment manufacturers (OEMs) are another key approach, enabling service providers to offer integrated solutions and expand their market reach. Additionally, many players are diversifying their portfolios by integrating renewable energy solutions and providing services for turbines used in various sectors.

Gas Turbine Service Market Companies

Major players operating in the gas turbine service industry are:

Ansaldo Energia
Baker Hughes
Centrax Gas Turbines
EthosEnergy
General Electric
Kawasaki Heavy Industries
MAN Energy Solutions
Mitsubishi Heavy Industries
MJB International
MTU Aero Engines
Opra Turbines
PROENERGY
Siemens
Solar Turbines
Sulzer
UEC-Saturn
VERICOR
Zorya-Mashproekt

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market size of gas turbine service reached USD 21.6 billion in 2024 and is set to grow at a CAGR of 8.8% from 2025 to 2034, driven by stringent regulations on clean power generation and new pollution control systems.

The repair gas turbine service segment is expected to exceed USD 20 billion by 2034, led by efforts to boost operating efficiency and meet lower heat rate requirements for gas turbine units.

The U.S. market is projected to exceed USD 4 billion by 2034, propelled by a focus on combustion process equipment performance and the shift towards gas turbines as an alternative to coal-fired generators.

Major players in the industry include Ansaldo Energia, Baker Hughes, Centrax Gas Turbines, EthosEnergy, General Electric, Kawasaki Heavy Industries, MAN Energy Solutions, Mitsubishi Heavy Industries, MJB International, MTU Aero Engines, Opra Turbines, PROENERGY, Siemens, Solar Turbines, Sulzer, UEC-Saturn, VERICOR, and Zorya-Mashproekt.