Market Research Logo

Global Gas Turbine MRO Market 2017-2021

Global Gas Turbine MRO Market 2017-2021

About Gas Turbine MRO

Gas turbines are mainly used in gas-fired power plants for power generation. Natural gas is used as a source of fuel in gas turbines owing to lesser carbon emissions when compared with coal. Owing to advancements in technology, gas turbines provide better output at higher efficiencies. The efficiency of gas turbines has increased drastically from 15% to nearly 60%. To maintain the efficiency of gas turbines during their lifetime, MRO services are used.

Technavio’s analysts forecast the global gas turbine MRO market to grow at a CAGR of 4.14% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global gas turbine MRO market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.

The market is divided into the following segments based on geography:

  • North America
  • APAC
  • Europe
  • ROW
Technavio's report, Global Gas Turbine MRO Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • Ansaldo Energia
  • GE
  • KHI
  • MHPS
  • Siemens
Other prominent vendors
  • ABB
  • MAN Diesel & Turbo
  • MTU AERO ENGINES
  • Solar Turbines
  • Sulzer
  • Zorya-Mashproekt
Market driver
  • Shutting down of coal-based power plants
  • For a full, detailed list, view our report
Market challenge
  • Declining oil prices
  • For a full, detailed list, view our report
Market trend
  • Market consolidation
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2021 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?


Press Release

Technavio Announces the Publication of its Research Report – Global Gas Turbine MRO Market 2017-2021

Technavio recognizes the following companies as the key players in the global gas turbine MRO market: Ansaldo Energia, GE, KHI, MHPS, and Siemens.

Other Prominent Vendors in the market are: ABB, MAN Diesel & Turbo, MTU AERO ENGINES, Solar Turbines, Sulzer, and Zorya-Mashproekt.

Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Market consolidation. The gas turbines market has witnessed major consolidation activities. Many large players have performed mergers and acquisitions to strengthen their global presences as well as enhance their product portfolio and aftermarket services. In 2014, Siemens acquired Rolls-Royce Energy gas turbine and compressor business. With this acquisition, Siemens expanded its business unit by including aeroderivative gas turbines in its product portfolio.

According to the report, one of the major drivers for this market is Shutting down of coal-based power plants. The shutting down of coal-based power plants due to stringent government regulations will lead to the generation of natural gas-based power, in turn increasing the demand for gas turbines. With the rise in number of gas-based power plants, MRO activities for gas turbines will simultaneously increase. For instance, in 2015 alone, about 94 coal-fired power plants were shut down as per the statistics of EIA. Furthermore, coal-based power plants are expected to be shut down during the forecast period due to the increase in environmental concerns and the need for clean power plants in the US.

Further, the report states that one of the major factors hindering the growth of this market is Declining oil prices. Declining oil prices are expected to affect the oil and gas sector, thereby affecting the gas turbine MRO market. Oil prices have been following a fluctuating trend, which has led to deferment of planned projects and withstanding new investments. Oil prices witnessed a decline from $90-$100 per barrel in 2014 to $60 per barrel at the end of 2014. In 2015, crude oil prices further declined to $40-$50 per barrel during the mid-summer period. Oil and gas companies faced almost a 50% drop in their revenue owing to the decline in oil prices.

Companies Mentioned

Ansaldo Energia, GE, KHI, MHPS, Siemens, ABB, MAN Diesel & Turbo, MTU AERO ENGINES, Solar Turbines, Sulzer, and Zorya-Mashproekt.

  • Executive summary
  • Scope of the report
  • Research Methodology
  • Introduction
    • Market outline
      • Table Global gas turbine MRO market by geography 2016-2021
  • Market landscape
    • Market overview
      • Table Market overview
    • Market size and forecast
      • Table Global gas turbine MRO market 2016-2021 ($ billions)
    • Five forces analysis
      • Table Five forces analysis
  • Segmentation by end-user
    • Market overview
      • Table Global gas turbine MRO market: Segmentation by end-user 2016 and 2021 (%)
    • Global gas turbine MRO market by power segment
      • Table Global gas turbine MRO market by power segment 2016-2021 ($ billions)
    • Global gas turbine MRO market by oil and gas segment
      • Table Global gas turbine MRO market by oil and gas segment 2016-2021 ($ billions)
      • Table Historical trend of average price of crude oil 2010-2016 ($/barrel)
  • Geographical segmentation
    • Market overview
      • Table Global gas turbine MRO market segmentation by geography 2016 and 2021 (%)
    • Gas turbine MRO market in North America
      • Table Gas turbine MRO market in North America 2016-2021 ($ billions)
      • Table Scheduled natural gas power plant capacity additions in US 2017-2018 (GW)
    • Gas turbine MRO market in Europe
      • Table Gas turbine MRO market in Europe 2016-2021 ($ billions)
    • Gas turbine MRO market in APAC
      • Table Gas turbine MRO market in APAC 2016-2021 ($ billions)
      • Table Power mix in India as of March 2017 (%)
      • Table Additions of installed capacities by 2022
  • Key leading countries
    • Table Key leading countries
  • Decision framework
  • Drivers and challenges
    • Market drivers
      • Table Europe carbon emission from all sectors 2009-2014 (million tons of CO equivalent)
    • Market challenges
      • Table Historical trend of average price of crude oil 2010-2016 ($/barrel)
      • Table Global market share of installed capacity of solar power plants 2000-2015
      • Table Nuclear reactors under planning/planned and construction for 10 countries March 2017
  • Market trends
    • Market consolidation
    • Long-term service agreements for major vendors
    • Technological innovations in gas turbines
  • Vendor landscape
    • Competitive scenario
    • Other prominent vendors
  • Key vendor analysis
    • Ansaldo Energia
      • Table Product and services by Ansaldo Energia
    • GE
      • Table Product offerings by GE
      • Table Product offerings in gas turbines
      • Table Services offered by GE
    • KHI
      • Table Product groups and offerings by KHI
      • Table Gas turbine offerings by KHI
    • MHPS
      • Table Product groups and offerings by MHPS
      • Table Product offerings: Gas turbines
      • Table Services for gas turbines offered by MHPS
    • Siemens
      • Table Product offerings by Siemens
      • Table Gas turbines offered by Siemens
  • Appendix
    • List of abbreviations
  • Explore Technavio

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook

Share this report