Gas Turbine Services Market overview

Gas Turbine Services Market share is expected to increase at a high USD 31.57 Billion, CAGR of 4.42% to reach a high market value during the forecast period.

Our Market Overview and Regional Analysis provide an understanding of the industries, companies and products within the market. Our Trends section provides an analysis of how the market is currently performing and looks set to perform in the future. Our Growth Forecast section gives you an idea about how our Market Analysis works, by giving us further details on how we can build our Market Forecast model for a particular domain within this report. Lastly, in our Metrics section we outline important data points relating to each of these sections as well as our current forecasted price range.

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Market opportunities

One of the reasons why there is more demand for gas turbines is that there is much more demand for engines that can produce more electrical and mechanical energy without harming the environment. The technologies that can do this are much more advanced, especially in developed nations. Therefore, companies are investing heavily in generating more electrical energy and in improving those machines that are capable of doing so.

Market segmentation

By type

This segment can be grouped into the following sub-segments:

IndustrialAero-derivativeHeavy-duty

By service

This segment can be grouped into the following sub-segments:

OverhaulSpare parts supplyMaintenanceRepair

By end-user

This segment can be grouped into the following sub-segments:

Oil and gasPower generationOthers

The power generation sub-segment currently has the largest market share. It’s mainly because more power generation plants use gas turbines.

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Regional analysis

The global gas turbine services market can be grouped into the following regions:

North AmericaThe European UnionSouth AmericaAsia-PacificThe Middle East and Africa

Industry news

A Swiss company was recently acquired by Caterpillar. The resulting company will be selling more gas turbine services around the world.