Home > Energy & Power > Electrical Equipment > Turbines > Heavy Duty Gas Turbine Service Market

Heavy Duty Gas Turbine Service Market Trends

Report ID: GMI8929
Published Date: Apr 2024
Report Format: PDF

Download Free Sample

Heavy Duty Gas Turbine Service Market Trends

The incorporation of clean energy sources is crucial for leveraging abundant energy resources by modernizing the electrical grid, which in turn will favor the business scenario. Surging proportion of renewable energy in electricity production and consumption to ensure long-term sustainability will drive the product deployment. Strengthening regulatory frameworks along with swift technological advancements to serve a broad consumer base while upholding reliability and efficiency will bolster the demand for efficient power generating units.

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market size of Heavy duty gas turbine service was reached USD 16.8 billion in 2023 and is expected to register 8.5% CAGR from 2024-2032 owing to stringent government regulations on clean power generation along with growing infrastructure development worldwide.

heavy duty gas turbine service industry from the repair segment is expected to record over USD 14 billion by 2032, due to heightened focus on enhancing operating efficiency and reducing heat rate requirements.

Asia Pacific heavy duty gas turbine service industry is expected to surpass USD 11 billion by 2032 due to strengthening regulatory measures along with swift technological advancements to meet the needs of a broad consumer base in the region.

MAN Energy Solutions, Mitsubishi Heavy Industries, MJB International LLC, MTU Aero Engines AG, Opra Turbines, PROENERGY, Siemens, Sulzer, UEC-Saturn, VERICOR, Wood Group, and Zorya-Mashproekt, are some of the major heavy duty gas turbine service companies worldwide.