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Gas Turbine Services Market 2023 : Analysis By Top Key Players, Trends, Industry Size And Regional Outlook 2032 | Siemens AG, General Electric Company, Mitsubishi Heavy Industries Ltd., Ansaldo Energia S.p.A., MAN Energy Solutions SE
Gas Turbine Services Market Growth
As per the gas turbine services market report by The Business Research Company, an increase in natural gas consumption in electricity generation is expected to propel the growth of the gas turbine services market going forward. Electricity generation refers to the creation of energy utilizing several technologies. Natural gas is used to create energy in natural gas power plants. A gas turbine is used in all-natural gas facilities. Natural gas and air are injected into the turbine; they burn and expand to generate power by rotating a generator and a magnet.
The global gas turbine services market size is expected to grow from $24.65 billion in 2022 to $27.24 billion in 2023 at a compound annual growth rate (CAGR) of 10.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The gas turbine services market size is expected to reach $39.01 billion in 2027 at a CAGR of 9.4%.
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Major competitors in the Gas Turbine Services market include Siemens AG, General Electric Company, Mitsubishi Heavy Industries Ltd., Ansaldo Energia S.p.A., MAN Energy Solutions SE, Kawasaki Heavy Industries Ltd., Caterpillar Inc., MTU Aero Engines AG, EthosEnergy, ProEnergy Services LLC, MJB International LLC, Sulzer Ltd., Rolls-Royce plc, Solar Turbines Incorporated, Centrax Gas Turbines, and OPRA Turbines.
The Gas Turbine Services market is segmented -
By Type: Heavy Duty, Industrial, Aeroderivative
By Service: Maintenance and Repair, Overhaul, and Spare Parts Supply
By Service Provider: OEM, Non-OEM
By End-User: Power Generation, Oil and Gas, Other End-Users
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Gas Turbine Services market.
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A gas turbine is a type of combustion engine that turns the chemical energy of fuel into mechanical or kinetic energy. Gas turbine services aid in the maintenance and repair of turbine equipment and its parts. The gas turbine services are used in power generation, oil and gas production, heavy industrial applications, and aircraft propulsion.
The Table Of Content For The Gas Turbine Services Market Include:
1. Executive Summary
2. Gas Turbine Servicess Market Characteristics
3. Gas Turbine Servicess Market Trends And Strategies
4. Gas Turbine Servicess Market - Macro Economic Scenario
5. Gas Turbine Servicess Market Size And Growth
……
26. Africa Gas Turbine Servicess Market
27. Gas Turbine Servicess Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Gas Turbine Servicess Market
29. Gas Turbine Servicess Market Future Outlook and Potential Analysis
30. Appendix
The "Global Gas Turbine Services Market Report 2023" from The Business Research Company is a comprehensive report that covers every facet of a market covering over 60 geographies and over 2500 market segments. The regional and country breakdowns section analyzes the market in each geography and the market size by region and country. Furthermore, it assesses the market's historical and projected growth and identifies significant trends and strategies that companies can leverage for business expansion.
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