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Global Gas Turbine MRO Market 2017-2021

  • Published: Sep 2017
  • Pages: 81
  • SKU: IRTNTR13370
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Technavio’s market research analysts have predicted that the gas turbine MRO market will grow by USD 3.24 billion by 2021. This industry research report identifies Ansaldo Energia, GE, KHI, MHPS, and Siemens as the key vendors in the global gas turbine MRO market. A comprehensive analysis of this market is also presented by end-user (power, oil and gas, and others) and geography (APAC, Europe, North America, and ROW).

 

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Overview of the global gas turbine MRO market

Research analysis on the global gas turbine MRO market identifies that the introduction of stringent regulations by the governments will be one of the major factors that will have a positive impact on the growth of the market. Technavio's market research analysts predict that this market will generate a revenue of close to USD 18 billion by 2021. In 2015, the environmental power agency (EPA) introduced the Clean Power Plan that focused on lowering the carbon emissions from power plants by almost 30% by 2030. Similarly, the EU also follows stringent emission norms to reduce carbon emissions. These stringent regulations will induce power plants to utilize natural gas and other means of sources for power generation to reduce pollutants and emission levels. This in turn, will have a positive impact on the growth of the gas turbine MRO market.

Stringent carbon emission regulations that focus on high performance and lesser power generating costs are being introduced. This, coupled with the fluctuating fuel prices is driving the need for highly efficient gas turbines and key manufacturers are making huge investments towards the development of high-efficiency gas turbines. One of the major manufacturers GE has already introduced the 9HA/7HA-series CCGT. Similarly Siemens has also introduced SGT5-8000H. These turbines offer 60% efficiency levels in a combined-cycle configuration. Such technological innovations in gas turbines will be one of the major trends that will drive the growth of this market in the coming years.

Competitive landscape and key vendors  

The gas turbine MRO market consists of many manufacturers accounting for large market shares. To enhance the efficiency and output of gas turbines, manufacturers offer MRO services to maintain the life and productivity of equipment. One of the major vendors Ansaldo Energia is engaged in the development of turnkey power projects. The company offers services to a wide range of power plants including thermoelectric, thermal, and combined-cycle power plants and offers products such as steam turbines, gas turbines, generators, and micro turbines.

The leading vendors in the market are -

  • Ansaldo Energia
  • GE
  • KHI
  • MHPS
  • Siemens

The other prominent vendors in the market are ABB, MAN Diesel & Turbo, MTU AERO ENGINES, Solar Turbines, Sulzer, and Zorya-Mashproekt.

 

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Segmentation by end-user and analysis of the gas turbine MRO market

During 2016, the power industry was the major end-user segment to gas turbine MRO market. The rising demand for demand for new gas-fired powered plants due to the lesser price of natural gas and the capacity additions in power plants, will contribute to the growth of this industry segment in the coming years.

Geographical segmentation and analysis of the gas turbine MRO market

  • APAC
  • Europe
  • North America
  • ROW

This market study estimates that in terms of geographic regions, North America will be the major revenue contributor to the gas turbine MRO market throughout the forecast period. The increase in investments for the expansion or upgradation of power plants and the stringent regulations on carbon emissions, will be the major factors fueling the growth of the gas turbine MRO market in this region.

Key questions answered in the report include

  • What will the market size and the growth rate be in 2021?
  • What are the key factors driving the global gas turbine MRO market?
  • What are the key market trends impacting the growth of the global gas turbine MRO market?
  • What are the challenges to market growth?
  • Who are the key vendors in the global gas turbine MRO market?
  • What are the market opportunities and threats faced by the vendors in the global gas turbine MRO market?
  • Trending factors influencing the market shares of the APAC, Europe, North America, and ROW.
  • What are the key outcomes of the five forces analysis of the global gas turbine MRO market?

 

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Gas turbine MRO (maintenance, repair, and overhaul) services are performed to maintain the efficiency of gas turbines in their lifetime. This upcoming industry research report on the global gas turbine MRO market offers visions into the key trends and emerging drivers influencing the growth of the heavy industry. Our market research reports for the heavy industry follow a reliable data gathering methodology and offer an analysis of fast growing market segments like engineering tools.

Global Gas Turbine MRO Market SizeBy considering the market forecast and size, rising demand for various engineering tools, the market research professionals at Technavio offer an all-inclusive picture of the global gas turbine MRO market for the estimated period of 2017 to 2021. Moreover, our research practices also help clients develop operative growth strategies and keep pace with the constantly changing market landscape. This market study also offers a complete analysis of various engineering tools services based on the interpretation of the evidence gathered from specific resources such as channel partners and market stakeholders. This upcoming market research report on the global gas turbine MRO market also covers vendors like General Electric, Siemens, Mitsubishi Heavy Industries, Alstom, Sulzer, Man Diesel and Turbo, Honeywell, ABB, Wood Group, and Lockheed Martin.

This upcoming industry report on the global gas turbine MRO market also considers the growth of the related engineering tools markets such as the cryogenic tanks, which is expected to grow at a CAGR of above 7% during the forecasted period. According to our market analysts, the aging gas turbines and stringent regulations on carbon emissions may influence the demand for gas turbine MRO across the globe. Furthermore, to offer clients the scope to identify potential market prospects and expand in niche markets, this report on the global gas turbine MRO market also covers geographies like the APAC, EMEA, and Americas.

The upcoming industry research report for global gas turbine MRO market also categorizes the key drivers, major trends, as well as the constraints currently faced by the engineering tools sector. It also presents insights into the quickly changing competitive scenario to give clients a realistic picture of the future course of the heavy industry market space. Technavio also provides deep-dive market assessments into the sectors such as tools and components and unit operations.

Technavio also offers clients the option to customize every report to suit their specific requirements and offers attractive discounts on all upcoming reports and future purchases.

PART 01: Executive summary

PART 02: Scope of the report

PART 03: Research Methodology

PART 04: Introduction

  • Market outline

PART 05: Market landscape

  • Market overview
  • Market size and forecast
  • Five forces analysis

PART 06: Segmentation by end-user

  • Market overview
  • Global gas turbine MRO market by power segment
  • Global gas turbine MRO market by oil and gas segment

PART 07: Geographical segmentation

  • Market overview
  • Gas turbine MRO market in North America
  • Gas turbine MRO market in Europe
  • Gas turbine MRO market in APAC

PART 08: Key leading countries

  • Key leading countries

PART 09: Decision framework

PART 10: Drivers and challenges

  • Market drivers
  • Market challenges

PART 11: Market trends

  • Market consolidation
  • Long-term service agreements for major vendors
  • Technological innovations in gas turbines

PART 12: Vendor landscape

  • Competitive scenario
  • Other prominent vendors

PART 13: Key vendor analysis

  • Ansaldo Energia
  • GE
  • KHI
  • MHPS
  • Siemens

PART 14: Appendix

  • List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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