The global gas Turbine Service market size is expected to reach USD
41.6 billion by 2025, according to a new report by Grand View Research, Inc.
The global market is anticipated to register a CAGR of 8.5% during the forecast
period. Availability of natural gas in large quantities coupled with its
relatively lower prices, especially in North America, China, and Thailand, has
led to an increase in power generation using gas turbines.
The standby inspection (consist servicing of the relays cleaning,
battery system, checking oil & water level and device calibration), running
inspection, and combustion inspection (includes inspection of fuel nozzles and
combustion liners) are the major maintenance and repair activities which are
performed at different time interval, depending upon various factors such as
operating hours, geographical condition, fuel, etc.
Growing focus on generating electricity through cleaner sources and
discouragement of utilizing coal reserves are the factors anticipated to
increase the share of gas turbines in the global energy mix. This, in turn, is
expected to provide a favorable environment for the development of this market.
One such strategy includes the recent orders passed by the current U.S.
government to reverse the energy policies of the previous government and stop
the war on coal, which is expected to boost the use of natural gas for energy
production over the forecast period.
According to Diesel & Gas Turbine Worldwide, the total number of
industrial gas turbines ordered in 2014 were 569 units, which increased to 581
in 2016. Of these, the total number of natural gas-fired industrial turbines,
ranging from 30 MW to 120 MW, were 62 units in 2014 and reached 147 in 2016.
Growth in industrial turbine installations across the globe is creating more
opportunities for aftermarket services, which is building a favorable
environment for the growth of gas turbine maintenance market.
Throughout their lifespan, the turbines undergo various inspections at
different intervals. Combustor inspection (at 8,000-12,000 EOH), hot gas path
inspection (at 24,000-50,000 EOH), and major inspection/overhaul (at
48,000-70,000 EOH) are some of the critical inspections that are essential for
the reliable operation of gas turbines. Increasing utilization of gas turbines
in resource extraction, processing applications, manufacturing facilities, and
packaging plants is widening the product application scope, which is also
projected to boost the aftermarket services for gas turbines. Increasing demand
for the aftermarket services for gas turbine is projected to provide a
substantial growth potential to the gas turbine service market.
Technological development in data collection methods is enabling players
in this industry to form a constitutive model for materials. Test rig control
helps in gathering and analyzing large volumes of data, thereby allowing
players to create the most suitable maintenance plan and models for gas
turbines.
Full
Research Report On Gas Turbine Service Market Analysis:
https://www.grandviewresearch.com/industry-analysis/gas-turbine-services-market
https://www.grandviewresearch.com/industry-analysis/gas-turbine-services-market
Further key findings from the report suggest:
·
The global gas turbine service market was
valued at USD 23.9 billion in 2017. The market is projected to witness a CAGR
of 8.5% during the forecast period
·
The industry is highly consolidated in
nature and is centered around five major players, which hold over 60% of the
market
·
Early defect detection through the use of
software and the preventive maintenance results in substantial cost saving,
which has increased the importance of service providers in gas turbine market
·
Ease of maintenance and operation, higher
efficiency, relatively lesser weight, and compatibility at offshore locations
are some significant factors projected to drive the demand for <100 MW
turbines
·
The key players include GE Power, Siemens
AG, Mitsubishi Hitachi Power Systems, Ltd. (MHPS), Kawasaki Heavy Industries,
Ltd., and MAN Diesel & Turbo SE.
View More Reports
of This Category by Grand View Research At: https://www.grandviewresearch.com/industry/conventional-energy
Grand View Research has segmented the global gas turbine service market
on the basis of turbine type, turbine capacity, service type, service provider,
end use, and region:
Gas Turbine Service Turbine
Type Outlook (Revenue, USD Million, 2014 - 2025)
·
Heavy Duty
·
Industrial
·
Aeroderivatives
Gas Turbine Service Turbine
Capacity Outlook (Revenue, USD Million, 2014 - 2025)
·
<100 MW
·
100 to 200 MW
·
>200 MW
Gas Turbine
Service Type Outlook (Revenue, USD Million, 2014 - 2025)
·
Maintenance & Repair
·
Overhaul
·
Spare Parts Supply
Gas Turbine Service
Provider Outlook (Revenue, USD Million, 2014 - 2025)
·
OEM
·
Non-OEM
Gas Turbine
Service End-use Outlook (Revenue, USD Million, 2014 - 2025)
·
Power Generation
·
Oil & Gas
·
Other Industrial
Gas Turbine Service Regional
Outlook (Revenue, USD Million, 2014 - 2025)
·
North America
o U.S.
o Canada
o Mexico
·
Europe
o Germany
o U.K.
o France
·
Asia Pacific
o China
o India
o Japan
o Indonesia
o Malaysia
o Vietnam
o Bangladesh
o Pakistan
o Singapore
o Thailand
·
The Commonwealth of Independent States
(CIS)
o Azerbaijan
o Kazakhstan
o Russia
o Turkey
o Turkmenistan
o Ukraine
o Uzbekistan
·
Central & South America
o Brazil
·
Middle East & Africa
o UAE
o Oman
o Iraq
o Qatar
o Lebanon
o Algeria
o Tunisia
o Kuwait
o Ghana
o South Africa
Access Full Press Release of this
Report:
https://www.grandviewresearch.com/press-release/global-gas-turbine-services-market
https://www.grandviewresearch.com/press-release/global-gas-turbine-services-market
About Grand View
Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
For more information: https://www.grandviewresearch.com/
