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Gas Turbine Service Industry Growth, Status, CAGR, Value, Share and 2018-2025 Future Prediction
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In this report, we study the services for gas turbine. Stringent emission regulations for gas turbines and upgradation of aging fleet of gas turbine drive the market for gas turbine Services.
A gas turbine, also called a combustion turbine, is a type of internal combustion engine. It has an upstream rotating compressor coupled to a downstream turbine, and a combustion chamber or area, called a combustor, in between.
The classification of gas turbine services includes heavy duty services and aero-derivative services, and the proportion of heavy duty services is about 79% in 2017, and the proportion is in increasing trend from 2013 to 2017.
Gas turbine services are for power generation, oil & gas and other field. The most proportion of gas turbine services is for power generation, and the revenue in 2017 is about 7.94 billion USD.
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Middle East region enjoys largest revenue market share in the world, with a revenue market share nearly 31.8% in 2017. Following Middle East, North America is the second largest place with the revenue market share of 24.9%. North America has large number of existing and aging gas turbines fleet in the U.S. and Canada. Large number of long term service agreements for gas turbine services are also seen this region. In addition, demand for gas turbine services for mechanical drive application for process industry will also drive the market for gas turbines services in North America.
In 2017, the global Gas Turbine Service market size was 16500 million US$ and it is expected to reach 22600 million US$ by the end of 2025, with a CAGR of 4.0% during 2018-2025.
The key players covered in this study
- General Electric
- Mitsubishi Hitachi Power Systems
- Siemens
- Wood Group
- Kawasaki Heavy Industries
- Solar Turbines
- MTU Aero Engines
- Ansaldo Energia
- Sulzer
- MAN Diesel & Turbo
- MJB International
- Proenergy Services
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Market segment by Type, the product can be split into
- Heavy Duty Services
- Aero-Derivative Services
Market segment by Application, split into
- Power Generation
- Oil & Gas
- Other
The study objectives of this report are:
- To analyze global Gas Turbine Service status, future forecast, growth opportunity, key market and key players.
- To present the Gas Turbine Service development in United States, Europe and China.
- To strategically profile the key players and comprehensively analyze their development plan and strategies.
- To define, describe and forecast the market by product type, market and key regions.
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