PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1628010
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1628010
Gas Turbine Service Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2025 to 2034
The Global Gas Turbine Service Market reached USD 21.6 billion in 2024 and is projected to grow at a robust CAGR of 8.8% from 2025 to 2034. The increasing enforcement of stringent regulations to promote clean power generation, coupled with the implementation of advanced pollution control systems, is driving the market's growth. Innovations in gas turbine design aimed at enhancing efficiency, alongside advancements in maintenance and overhauling technologies, are further strengthening the industry outlook. Moreover, the abundant availability of natural gas is playing a key role in supporting market expansion.
The repair segment within the gas turbine service market is expected to generate USD 20 billion by 2034. Efforts to optimize operational efficiency and reduce heat rate requirements are significantly influencing this segment. The integration of advanced technological components and the capacity to manage higher mechanical loads are propelling growth. Additionally, activities such as troubleshooting, damage analysis, and comprehensive condition assessments of turbines and their components are pivotal in driving demand for repair services.
The heavy-duty gas turbine service market is poised to grow at a CAGR of 8.5% during 2025-2034. The push to integrate clean energy resources into modern electrical grids is critical for ensuring the efficient utilization of diverse energy sources. As the share of renewable energy in electricity generation continues to rise, the need for reliable and efficient power generation systems becomes increasingly important. Regulatory enhancements and technological advancements aimed at catering to a growing consumer base are expected to further stimulate the adoption of heavy-duty gas turbines.
| Market Scope | |
|---|---|
| Start Year | 2024 |
| Forecast Year | 2025-2034 |
| Start Value | $21.6 Billion |
| Forecast Value | $49.9 Billion |
| CAGR | 8.8% |
U.S. gas turbine service market is projected to generate USD 4 billion by 2034, driven by increasing emphasis on optimizing the performance of equipment used in combustion processes and managing hot gases produced by gas turbines. Ensuring the safe and efficient operation of combustion liners through regular testing is further bolstering the market's growth. Moreover, the ongoing transition to gas turbines as a cleaner and more efficient alternative to coal-fired generators is a significant factor fueling industry expansion.
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Market scope & definitions
- 1.2 Market estimates & forecast parameters
- 1.3 Forecast calculation
- 1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
- 1.4.2.1 Paid
- 1.4.2.2 Public
Chapter 2 Executive Summary
- 2.1 Industry synopsis, 2021 - 2034
Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.2 Regulatory landscape
- 3.3 Industry impact forces
- 3.3.1 Growth drivers
- 3.3.2 Industry pitfalls & challenges
- 3.4 Growth potential analysis
- 3.5 Porter's analysis
- 3.5.1 Bargaining power of suppliers
- 3.5.2 Bargaining power of buyers
- 3.5.3 Threat of new entrants
- 3.5.4 Threat of substitutes
- 3.6 PESTEL analysis
Chapter 4 Competitive Landscape, 2024
- 4.1 Introduction
- 4.2 Strategic outlook
- 4.3 Innovation & sustainability landscape
Chapter 5 Market Size and Forecast, By Product, 2021 - 2034 (USD Million)
- 5.1 Key trends
- 5.1.1 Heavy duty
- 5.1.2 Aero-derivative
Chapter 6 Market Size and Forecast, By Service, 2021 - 2034 (USD Million)
- 6.1 Key trends
- 6.2 Maintenance
- 6.3 Repair
- 6.4 Overhaul
- 6.5 Others
Chapter 7 Market Size and Forecast, By Application, 2021 - 2034 (USD Million)
- 7.1 Key trends
- 7.2 Power plants
- 7.3 Oil & gas
- 7.4 Process plants
- 7.5 Aviation
- 7.6 Marine
- 7.7 Others
Chapter 8 Market Size and Forecast, By Service Provider, 2021 - 2034 (USD Million)
- 8.1 Key trends
- 8.2 OEM
- 8.3 Non-OEM
Chapter 9 Market Size and Forecast, By Region, 2021 - 2034 (USD Million)
- 9.1 Key trends
- 9.2 North America
- 9.2.1 U.S.
- 9.2.2 Canada
- 9.2.3 Mexico
- 9.3 Europe
- 9.3.1 UK
- 9.3.2 France
- 9.3.3 Germany
- 9.3.4 Russia
- 9.3.5 Italy
- 9.3.6 Netherlands
- 9.3.7 Denmark
- 9.3.8 Romania
- 9.3.9 Poland
- 9.3.10 Sweden
- 9.4 Asia Pacific
- 9.4.1 China
- 9.4.2 Australia
- 9.4.3 India
- 9.4.4 Japan
- 9.4.5 South Korea
- 9.4.6 Indonesia
- 9.4.7 Malaysia
- 9.5 Middle East & Africa
- 9.5.1 Saudi Arabia
- 9.5.2 UAE
- 9.5.3 Qatar
- 9.5.4 Kuwait
- 9.5.5 Oman
- 9.5.6 Egypt
- 9.5.7 Turkey
- 9.5.8 Iraq
- 9.5.9 South Africa
- 9.5.10 Algeria
- 9.6 Latin America
- 9.6.1 Brazil
- 9.6.2 Argentina
- 9.6.3 Chile
Chapter 10 Company Profiles
- 10.1 Ansaldo Energia
- 10.2 Baker Hughes
- 10.3 Centrax Gas Turbines
- 10.4 EthosEnergy
- 10.5 General Electric
- 10.6 Kawasaki Heavy Industries
- 10.7 MAN Energy Solutions
- 10.8 Mitsubishi Heavy Industries
- 10.9 MJB International
- 10.10 MTU Aero Engines
- 10.11 Opra Turbines
- 10.12 PROENERGY
- 10.13 Siemens
- 10.14 Solar Turbines
- 10.15 Sulzer
- 10.16 UEC-Saturn
- 10.17 VERICOR
- 10.18 Zorya-Mashproekt
