Product Code: CMI5172
The global gas turbine MRO market was valued at US$ 12.25 Bn in 2022 and is expected to exhibit a CAGR of 6.6% over the forecast period (2023-2030) to reach US$ 20.51 Bn by 2030.
Report Coverage |
Report Details |
Base Year: |
2022 |
Market Size in 2023: |
US$ 12.25 Bn |
Historical Data for: |
2018 to 2021 |
Forecast Period: |
2023 - 2030 |
Forecast Period 2023 to 2030 CAGR: |
6.60% |
2030 Value Projection: |
US$ 20.51 Bn |
Figure 1. Global Gas Turbine MRO Market Value Share (%), By Provider Type, 2022
Global gas turbine MRO services are critical to the success of power generation businesses, as these services increase operational efficiency. The global gas turbine MRO (maintenance, repair, and overhaul) market refers to the industry that provides services to maintain, repair, and overhaul gas turbines used in various applications such as power generation, oil and gas, aviation, and marine. The market includes both OEM (original equipment manufacturer) and third-party service providers. Gas turbines are widely used in power plants, oil and gas facilities, and other industrial applications to generate electricity and provide mechanical power. As these turbines operate continuously, they require regular maintenance and repair to ensure optimal performance and prevent downtime.
Market Dynamics:
The need for maintenance services for gas turbine MRO in the power sector, the increasing shutdown of the coal fleet, and shifting to a net-zero electricity mix are fueling growth of the global gas turbine MRO market in the power sector. However, growth in the renewable energy sector is expected to act as a restraining factor for market growth. The growth of the market is driven by factors such as the increasing demand for electricity, the aging gas turbine fleet, and the need for efficient and reliable operations. The demand for gas turbines has been declining due to the increasing adoption of renewable energy sources such as wind and solar power. This could lead to a decrease in the demand for gas turbine MRO services. Gas turbine MRO services can be expensive, especially for older turbines that require more frequent maintenance. This could limit the adoption of these services by some companies.
Key features of the study:
- This report provides an in-depth analysis of the global gas turbine MRO market in the power sector, and provides market size (US$ Billion) and compound annual growth rate (CAGR%) for the forecast period (2023-2030), considering 2022 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global gas turbine MRO market in the power Sector based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include General Electric Company, Mitsubishi Heavy Industries Ltd, RWG (Repair & Overhauls) Limited, Metalock Engineering Group, Goltens Worldwide Management Corporation, Siemens Energy AG, Sulzer Ltd, Doosan Heavy Industries and Construction, Solar Turbines Incorporated, and Ethos Energy LLC
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global gas turbine MRO market in the power sector report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global gas turbine MRO market in the power sector
Detailed Segmentation:
- By Service Type:
- Maintenance
- Repair
- Overhaul
- By Provider Type:
- OEM
- Independent Service Providers
- In-house
- By Region:
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
- Company Profiles
- General Electric Company
- Mitsubishi Heavy Industries Ltd
- RWG (Repair & Overhauls) Limited
- Metalock Engineering Group
- Goltens Worldwide Management Corporation
- Siemens Energy AG
- Sulzer Ltd
- Doosan Heavy Industries and Construction
- Solar Turbines Incorporated
- Ethos Energy LLC
Table of Contents
1. Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
2. Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snapshot, By Service Type
- Market Snapshot, By Provider Type
- Market Snapshot, By Region
- Coherent Opportunity Map (COM)
3. Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Need for maintenance service of gas turbine MRO in power sector
- Gas turbines' aging infrastructure is driving market expansion
- Market Restraints
- Market Opportunities
- Impact Analysis
- Key Highlights
- Regulatory Scenario
- Product Launches/Approvals
- PEST Analysis
- PORTER's Analysis
- Merger and Acquisition Scenario
4. Global Gas Turbine MRO Market- Impact of Coronavirus (COVID-19) Pandemic
- COVID-19 Epidemiology
- Supply Side and Demand Side Analysis
- Economic Impact
5. Global Gas Turbine MRO Market, By Service Type, 2018-2030, (US$ Bn)
- Introduction
- Market Share Analysis, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, 2023-2030
- Segment Trends
- Maintenance
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2023-2030,(US$ Bn)
- Repair
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2023-2030,(US$ Bn)
- Overhaul
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2023-2030,(US$ Bn)
6. Global Gas Turbine MRO Market, By Provider Type, 2018-2030, (US$ Bn)
- Introduction
- Market Share Analysis, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, 2023-2030
- Segment Trends
- OEM
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2023-2030,(US$ Billion)
- Independent Service Providers
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2023-2030,(US$ Billion)
- In-house
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2023-2030,(US$ Billion)
7. Global Gas Turbine MRO Market, By Region, 2018-2030, (US$ Bn)
- Introduction
- Market Share Analysis, By Country, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, For Country 2023-2030
- Country Trends
- North America
- Market Size and Forecast, and Y-o-Y Growth, By Service Type, 2023-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Provider Type, 2023-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2023-2030,(US$ Bn)
- U.S
- Canada
- Europe
- Market Size and Forecast, and Y-o-Y Growth, By Service Type, 2023-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Provider Type, 2023-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2023-2030,(US$ Bn)
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- Market Size and Forecast, and Y-o-Y Growth, By Service Type, 2023-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Provider Type, 2023-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2023-2030,(US$ Bn)
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast, and Y-o-Y Growth, By Service Type, 2023-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Provider Type, 2023-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2023-2030,(US$ Bn)
- Brazil
- Argentina
- Mexico
- Middle East
- Market Size and Forecast, and Y-o-Y Growth, By Service Type, 2023-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Provider Type2023-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2023-2030,(US$ Bn)
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- Market Size and Forecast, and Y-o-Y Growth, By Service Type, 2023-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Provider Type , 2023-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2023-2030,(US$ Bn)
- South Africa
- North Africa
- Central Africa
8. Competitive Landscape
- General Electric Company
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Mitsubishi Heavy Industries Ltd
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
- RWG (Repair & Overhauls) Limited
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
- Metalock Engineering Group
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
- Goltens Worldwide Management Corporation
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
- Siemens Energy AG
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
- Sulzer Ltd
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
- Doosan Heavy Industries and Construction
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
- Solar Turbines Incorporated
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
- Ethos Energy LLC
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
- Analyst Views
9. Section
- Research Methodology
- About us