Market Overview:
The global gas turbine MRO market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for power and rising investments in oil and gas infrastructure across the globe. In terms of type, the maintenance segment is expected to hold a major share of the global gas turbine MRO market during the forecast period. This can be attributed to the increasing need for regular maintenance and repairs of gas turbines in order to ensure their optimum performance. In terms of application, power generation is expected to be one of the key segments driving growth in this market duringthe forecast period.
Product Definition:
The term Gas Turbine MRO refers to the maintenance, repair and overhaul of gas turbines. The importance of Gas Turbine MRO lies in the fact that it helps ensure that gas turbines are running efficiently and effectively, thus helping to improve overall plant performance.
Maintenance:
Maintenance, it's usage.
The global maintenance, it's usage and growth factor in the gas turbine MRO market size was valued at USD 4.0 billion in 2016. It is expected to expand at a CAGR of XX% over the forecast period.
Repair and Overhaul:
The global market for repair and overhaul (MRO) is expected to witness significant growth over the forecast period. Repair & Overhaul is an MRO activity which includes maintenance, inspection, parts replacement and other related activities carried out on manufacturing units. It also covers activities such as repairing of machines after breakdown or during down time etc. The major function of this industry is to keep the production lines running at optimum level by providing a proper maintenance facility so that production can continue without any hindrance.
Application Insights:
The power application segment led the global gas turbine MRO market in 2017 and is projected to expand at a CAGR of XX% over the forecast period. The growth can be attributed to increasing demand for gas turbines in power generation applications, such as onshore and offshore wind farms, municipal solid waste incineration plants, etc. In addition, growing concerns regarding reliability of supply with respect to on-site maintenance capabilities are expected to drive the product demand over the next eight years.
Increasing investments in renewable energy sources coupled with government initiatives aimed at reducing carbon emissions have driven manufacturers across countries such as China and Germany towards installing massive solar photovoltaic installations across roofs tops of commercial buildings which has resulted in increased requirement for electricity generation capacity leading up to 2030s from 2018 onward.
Regional Analysis:
Asia Pacific accounted for the largest revenue share in 2017 and is expected to continue its dominance over the forecast period. The region is home to several emerging economies, such as China, India, and Japan. Increasing industrialization coupled with growing demand from end-use industries such as power generation and oil & gas has resulted in high growth of the market for gas turbine MRO in Asia Pacific.
The Middle East & Africa (MEA) region is anticipated to grow at a significant rate over the forecast period owing to increasing government investments aimed at boosting domestic production capabilities of various energy sources including natural gas and petroleum products along with other chemicals required by industry participants. In addition, rising number of major maintenance activities are carried out on an offshore installation platform will drive regional market growth over the next eight years.
North America was estimated at USD X million in 2017 owing to presence of a large number of manufacturers that cater maintenance services for existing turbines across U.S., Canada, Mexico etc.
Growth Factors:
- Increasing demand for gas turbines from the power generation sector
- Proliferation of gas-fired power plants across the globe
- Growing popularity of combined cycle power plants
- Rising investments in renewable energy sources
- Technological advancements in gas turbine MRO
Scope Of The Report
Report Attributes
Report Details
Report Title
Gas Turbine MRO Market Research Report
By Type
Maintenance, Repair and Overhaul
By Application
Power, Oil and Gas, Other
By Companies
GE, KHI, Ansaldo Energia, MHPS, Siemens, ABB, MAN Diesel & Turbo, MTU Aero Engines, Solar Turbines, Sulzer, Zorya-Mashproekt
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
210
Number of Tables & Figures
147
Customization Available
Yes, the report can be customized as per your need.
Global Gas Turbine MRO Market Report Segments:
The global Gas Turbine MRO market is segmented on the basis of:
Types
Maintenance, Repair and Overhaul
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Power, Oil and Gas, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- GE
- KHI
- Ansaldo Energia
- MHPS
- Siemens
- ABB
- MAN Diesel & Turbo
- MTU Aero Engines
- Solar Turbines
- Sulzer
- Zorya-Mashproekt
Highlights of The Gas Turbine MRO Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Maintenance
- Repair and Overhaul
- By Application:
- Power
- Oil and Gas
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Gas Turbine MRO Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Gas turbine MRO is a type of maintenance, repair, and overhaul (MRO) service that specializes in the repair and overhaul of gas turbines. Gas turbine MRO services typically include the inspection, diagnosis, and repair of gas turbines; as well as the installation or replacement of components.
Some of the major players in the gas turbine mro market are GE, KHI, Ansaldo Energia, MHPS, Siemens, ABB, MAN Diesel & Turbo, MTU Aero Engines, Solar Turbines, Sulzer, Zorya-Mashproekt.
The gas turbine mro market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Gas Turbine MRO Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Gas Turbine MRO Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Gas Turbine MRO Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Gas Turbine MRO Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Gas Turbine MRO Market Size & Forecast, 2020-2028
4.5.1 Gas Turbine MRO Market Size and Y-o-Y Growth
4.5.2 Gas Turbine MRO Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Maintenance
5.2.2 Repair and Overhaul
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Power
6.2.2 Oil and Gas
6.2.3 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Gas Turbine MRO Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Gas Turbine MRO Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Maintenance
9.6.2 Repair and Overhaul
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Power
9.10.2 Oil and Gas
9.10.3 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Maintenance
10.6.2 Repair and Overhaul
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Power
10.10.2 Oil and Gas
10.10.3 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Maintenance
11.6.2 Repair and Overhaul
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Power
11.10.2 Oil and Gas
11.10.3 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Maintenance
12.6.2 Repair and Overhaul
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Power
12.10.2 Oil and Gas
12.10.3 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Maintenance
13.6.2 Repair and Overhaul
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Power
13.10.2 Oil and Gas
13.10.3 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Gas Turbine MRO Market: Competitive Dashboard
14.2 Global Gas Turbine MRO Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 GE
14.3.2 KHI
14.3.3 Ansaldo Energia
14.3.4 MHPS
14.3.5 Siemens
14.3.6 ABB
14.3.7 MAN Diesel & Turbo
14.3.8 MTU Aero Engines
14.3.9 Solar Turbines
14.3.10 Sulzer
14.3.11 Zorya-Mashproekt
