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Gas Turbine Service Market Trends

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

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Gas Turbine Service Market Trends

The gas turbine industry has gained notable traction due to rising focus on plant optimization and operational flexibility. Regular maintenance and servicing of this technology are essential for safe and efficient operation management. Moreover, timely service enables effective torque control, along with opportunities for integrated and intelligent operation concepts. The increase in peak load operations, along with efforts to reduce turbine inlet temperatures during open-cycle power plant operations, will further drive business growth.

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.