The Global Gas Turbine MRO market in the Power sector is estimated to increase from $XX billion in 2016 to $XX billion in 2021 with a CAGR of XX percent.
The Gas Turbine MRO market in the power sector is underpinned by the aging power facilities which offer considerable opportunities for power replacement and re-powering services aimed at improving the overall efficiency of the facilities. Moreover, a large number of power generating plants are being operated beyond their lifespan in order to meet the rising demand for electricity which is indirectly widening the business for third-party service providers as well as the OEMs. On the Flipside, the market has been affected by increased labor and transportation costs, and the rising cost of spare parts in some regions.
In the global gas turbine MRO market for Power sector, North America has the highest cumulative installations of gas turbine among all other regions. It is the leading region in the market, capturing approximately one-third of the global share. Major MRO providers include Alstom, Bechtel, Fluor, Foster Wheeler AG, GE Energy, Wood Group GTS, Mitsubishi Heavy Industries, NAES Corporation, Siemens AG, Sulzer Corporation, TGM Turbinas, and The Babcock & Wilcox Company.
This report comprehensively analyzes the Gas Turbine MRO market in the Power sector by segmenting it based on geography and service type. Key drivers and restraints that are effecting the growth of this market are discussed in detail. The study also elucidates on competitive landscape and key market players.