The global gas turbine services market size reached a value of over USD 30.89 Billion in 2024. The market is further estimated to grow at a CAGR of 4.40% in the forecast period of 2025-2034.
The market players are making efforts to offer improved services, including overhaul and repair and scheduled and unscheduled maintenance services, among others, to meet the aero-derivative gas turbine customer expectations, which is likely to favour the market over the forecast period.
The Asia Pacific to Account for a Substantial Market Share of the Total Gas Turbine Services Market Value
The increased availability of natural gas in the Asia Pacific region, particularly in countries like China, is leading to an increase in the installation capacity of gas turbines, thereby contributing to the market development. The increasing population, the rapid urbanisation, and the introduction of government initiatives towards decarbonising the economies in the region are anticipated to positively influence the market for gas turbine services.
In addition, the increasing shortage of fossils like coal and the growing environmental concerns are bolstering the installation of gas turbines, hence driving the demand for gas turbine maintenance and repair services.
The rising inclination towards OEM for gas turbine services as a result of multiple advantages like high-quality products, warranties, and better services is fuelling the market development. Various governments are setting up gas turbines owing to the growing awareness regarding their benefits such as low gestation period and less land and water requirement, which is providing impetus to the market growth. Advancements in gas turbine technologies and the strong presence of market players are expected to augment the market over the forecast period.
Rising Demand for Aero-derivative Gas Turbine Services to Propel the Market Growth
Based on type, the market for aero-derivative gas turbine services is observing a heathy growth. The rising installation of aero-derivative gas turbines, owing to their multiple advantages such as lightweight, higher fuel efficiency, and lower emissions, is bolstering the gas turbine services market growth. Moreover, the growing need to meet industry-specific requirements in aero-derivative gas turbine applications is enhancing the demand for reliable gas turbine services with enhanced performance levels.The market players are making efforts to offer improved services, including overhaul and repair and scheduled and unscheduled maintenance services, among others, to meet the aero-derivative gas turbine customer expectations, which is likely to favour the market over the forecast period.
The Asia Pacific to Account for a Substantial Market Share of the Total Gas Turbine Services Market Value
The increased availability of natural gas in the Asia Pacific region, particularly in countries like China, is leading to an increase in the installation capacity of gas turbines, thereby contributing to the market development. The increasing population, the rapid urbanisation, and the introduction of government initiatives towards decarbonising the economies in the region are anticipated to positively influence the market for gas turbine services.
Market Segmentation
Gas turbines, also known as combustion turbines, convert natural gas or other liquid fuels to mechanical energy. This energy drives a generator that produces the electrical energy, which is then transferred along power lines to homes and other businesses. Gas turbine services provide onshore and offshore maintenance, overhaul, and repair services for the turbines.The gas turbine services market by type is divided into:
- Aero-Derivative
- Heavy-Duty
Based on service, the market is segmented into:
- Repair
- Maintenance
- Overhaul
On the basis of end user, the market is classified into:
- Power Generation
- Oil and Gas
- Others
Based on service provider, the market is bifurcated into:
- OEM
- Aftermarket
Growing Demand for Electricity to Drive the Market Growth of Gas Turbine Services
The rising demand for electricity from several sectors is surging the need to set up gas turbines that are efficient, durable, and cost-effective. This is also increasing the demand for gas turbine service solutions to boost the flexibility and reliability of gas turbines while reducing the cost of production and environmental footprint. This is favouring the gas turbine services market growth.In addition, the increasing shortage of fossils like coal and the growing environmental concerns are bolstering the installation of gas turbines, hence driving the demand for gas turbine maintenance and repair services.
The rising inclination towards OEM for gas turbine services as a result of multiple advantages like high-quality products, warranties, and better services is fuelling the market development. Various governments are setting up gas turbines owing to the growing awareness regarding their benefits such as low gestation period and less land and water requirement, which is providing impetus to the market growth. Advancements in gas turbine technologies and the strong presence of market players are expected to augment the market over the forecast period.
Key Players in the Global Market for Gas Turbine Services
The report gives a detailed analysis of the following key players in the global gas turbine services market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:- General Electric Company
- Siemens AG
- EthosEnergy Group
- Sulzer Ltd.
- Ansaldo Energia S.p.A.
- Others
Table of Contents
1 Executive Summary
2 Market Overview and Stakeholder Insights
3 Economic Summary
4 Country Risk Profiles
5 Global Gas Turbine Services Market Analysis
6 Regional Analysis
7 Market Dynamics
8 Competitive Landscape
Companies Mentioned
- General Electric Company
- Siemens AG
- EthosEnergy Group
- Sulzer Ltd.
- Ansaldo Energia S.p.A.
