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Gas Turbine Service Market Size

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

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Gas Turbine Service Market Size

The global gas turbine service market size was valued at USD 21.6 billion in 2024 and is estimated to grow at a CAGR of 8.8% from 2025 to 2034. Strict regulations on clean power generation, along with new pollution control systems will drive the industry forward. Technological advancements in efficient gas turbine design will further boost the business outlook. Additionally, improved overhauling technologies and a plentiful supply of natural gas will positively influence the industry landscape.

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Gas turbine services encompass routine inspections, part repairs, and replacements to ensure maximum availability and reliability. These services involve maintenance, overhauls, and repairs of structural components. Growing infrastructure development aimed at enhancing lifetime profitability and performance will substantially drive the business scenario. Continuous high-tech advancements, along with opportunities for integrated and intelligent control and operational concepts will enhance the industry outlook.

Gas Turbine Service Market Report Attributes
Report Attribute	Details
Base Year:	2024
Gas Turbine Service Market Size in 2024:	USD 21.6 Billion
Forecast Period:	2025 to 2034
Forecast Period 2025 to 2034 CAGR:	8.8%
2034 Value Projection:	USD 49.9 Billion
Historical Data for:	2021 – 2024
No. of Pages:	125
Tables, Charts & Figures:	40
Segments covered:	Product, Service, Application, Service Provider and Region
Growth Drivers:	Effective measures to improve the performance of power plants Upgradation of aging fleets of gas turbines Reducing dependency on conventional coal-fired power plants
Pitfalls & Challenges:	Growing penetration of other emerging technologies

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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.