Global Gas Turbine MRO Market Size, Share, and Trends Analysis Report, By Type (Maintenance, Repair, and Overhaul), and By Application (Power, Oil & Gas, and Others), Forecast (2022-2028)

The global gas turbine MRO market is anticipated to grow at a significant CAGR of 3.4% during the forecast period (2022-2028). The global gas turbine MRO market is growing due to the increasing natural gas consumption in the power industry. The rising prevalence of shifting from coal to gas-based power generation and the rise in the gas-fired power plant infrastructure are also boosting the growth of the market. The rising demand for ensuring the power equipment works in good condition as well as companies and power plant operators need to perform regular maintenance services to work efficiently is driving the growth of the gas turbine MRO market. Additionally, the supportive government initiatives for the development of infrastructure as a service-based solution are anticipated to propel the growth of the global gas turbine MRO market during the forecast period.

The Asia-Pacific region holds the major share in the global gas turbine MRO market. This is due to the presence of the largest consumers of natural gas for power generation in this region. The supportive government initiative to shift from coal to gas to reduce carbon emissions in countries, like China and India is expected to propel the growth of the Asia-Pacific gas turbine MRO market.

The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new launches, to stay competitive in the market. For instance-

• In February 2021, Rolls-Royce plc and Hindustan Aeronautics Ltd. announced their partnership to expand the supply chain for both civil and defense aerospace and an authorized maintenance center at HAL for the Adour Mk871 engines for international military customers.
• In October 2019, General Electric announced the launch of the latest evolution of its HA gas turbine, the 7HA.03, which will power Florida Power & Light company’s (FPL) Dania Beach Clean Energy Center near Fort Lauderdale, Florida.
• In May 2018, Turbine Services & Solutions and Siemens announced an expanded supplier agreement contract to expand the capacity for Siemens’ SGT-A65 engines.

Market Coverage

• The market number available for – 2022-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
  • By Type
  • By Application
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
• Competitive Landscape- Chevron Corp., Shell, Schlumberger ltd., China Petrochemical Corp., and Exxon Mobil Corp., among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
  • Deviation from the pre-COVID-19 forecast
  • Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Gas Turbine MRO Market Report by Segment

By Type

• Maintenance
• Repair
• Overhaul

By Application

• Power
• Oil & Gas
• Other

Global Gas Turbine MRO Market Report by Region

North America

• United States
• Canada

Europe

• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe

Asia-Pacific

• China
• India
• Japan
• Rest of Asia-Pacific

Rest of the World

• Latin America
• Middle East & Africa