Gas Turbine Services Market by Type (Heavy Duty, and Aero-Derivative), Service (Maintenance, Repair, and Overhaul), End-User (Power Generation, Oil & Gas), Service Provider (OEM, and NON-OEM), and Region - Global Forecast to 2021

“Gas turbine services market is projected to grow at a CAGR of 4.1% from 2016 to 2021”
The gas turbine services market is projected to reach USD 18.45 billion by 2021, growing at a CAGR of 4.1% from 2016 to 2021. Gas turbine services are done for both heavy-duty and aero-derivative type of gas turbines. Rise in gas turbine installation for combined cycle plants, along with the upgradation of current gas turbine fleet drives the market for gas turbines services for power generation segment. Increasing focus on renewable energy for power generation restricts the market growth for gas turbines services.
“Power generation segment is expected to dominate the gas turbine services industry during the forecast period”
On the basis of end-user segment, the market for power generation segment is expected to dominate the gas turbine services market. Majority of the demand comes from the North American region, especially from the U.S. where upgradation of aging fleet of gas turbines is required. Also, the demand for gas turbine services will be increasing in Far East region of Asia-Pacific with large number of gas turbine installation in 2015. Thus, power generation segment dominated the gas turbine services market and is expected to dominate during the forecast period. The gas turbine services market is dominated by the power generation industry. However, the turbine services for metal processing and chemicals is expected to project fastest CAGR during the forecast period. The growth is attributed to the increased installation of aero-derivative gas turbines in industries such as metal processing and chemicals.
“North America: The largest market for gas turbine services, whereas Middle East & Africa growing at the highest rate”
North America is currently the largest market for gas turbine services, closely followed by the Asia-Pacific. The gas turbine services market in North America is primarily driven by the demand of gas turbine services from the U.S. The current emission norms imposed by EPA on gas turbines and aging fleet upgrades are potential drivers for gas turbine services.
The U.S. is the potential market for gas turbine services contributing about two-third of North American gas turbine services market during the forecast period. The Middle East & Africa is expected to grow at a fastest CAGR owing to the rise in gas turbine installations for combined cycle power plants in countries such as Saudi Arabia, and UAE.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information as well as to assess future market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier 1- 35%, Tier 2- 45%, Tier 3- 20%
By Designation: C-Level- 35%, D-Level- 25%, Others- 40%
By Region: Middle East- 35%, North America- 30%, Asia-Pacific- 20%, Europe- 10%, Rest of the World- 5%
Note: The tier of the companies has been defined on the basis of their total revenue, as of 2015: Tier 1 = >USD 20 billion, Tier 2 = From USD 10 billion to USD 20 billion, and Tier 3 = The leading players in the gas turbine services market include General Electric Company (U.S.), Siemens AG (Germany), EthosEnergy (U.K), Sulzer AG (Switzerland) and Ansaldo Energia, SpA (Italy).

Research Coverage:
The gas turbine services market has been segmented on the basis of type, service, end-user, service provider. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of major market drivers, restraints, opportunities, challenges, and technological overview. It also covers various important aspects of the market. The global gas turbine services market is analyzed with respect to five regions, namely, North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa.

Why buy this report?
1. The report identifies and addresses key markets for gas turbine services market, which is useful for service providers to review the growth in demand for the product.
2. The report helps solution providers to understand the pulse of the market and provides insights on drivers, restraints, and challenges.
3. The report will help key players to better understand the competition’s strategies and will help in making strategic decisions.

TABLE OF CONTENTS

1 INTRODUCTION 14
1.1 OBJECTIVES OF THE STUDY 14
1.2 MARKET DEFINITION 14
1.3 MARKETS COVERED 15
1.3.1 COUNTRIES COVERED 15
1.4 YEARS CONSIDERED FOR THE STUDY 16
1.5 CURRENCY 16
1.6 LIMITATIONS 16
1.7 STAKEHOLDERS 17
2 RESEARCH METHODOLOGY 18
2.1 RESEARCH DATA 18
2.1.1 SECONDARY DATA 19
2.1.1.1 Key data from secondary sources 19
2.1.2 PRIMARY DATA 20
2.1.2.1 Key data from primary sources 20
2.1.2.2 Key industry insights 21
2.1.2.3 Breakdown of primaries 21
2.2 MARKET SIZE ESTIMATION 22
2.2.1 BOTTOM-UP APPROACH 22
2.2.2 TOP-DOWN APPROACH 23
2.3 DATA TRIANGULATION 24
2.4 RESEARCH ASSUMPTIONS 25
2.4.1 ASSUMPTIONS 25
3 EXECUTIVE SUMMARY 26
3.1 INTRODUCTION 26
3.2 CURRENT SCENARIO 26
3.3 FUTURE TRENDS 28
3.4 CONCLUSION 30
4 PREMIUM INSIGHTS 31
4.1 ATTRACTIVE MARKET OPPORTUNITIES FOR GAS TURBINE SERVICES 31
4.2 NORTH AMERICA: POTENTIAL MARKET TO INVEST DURING THE FORECAST PERIOD 32
4.3 POWER GENERATION & MAINTENANCE SEGMENT DOMINATED THE GAS TURBINE SERVICES MARKET IN 2015 33
4.4 GAS TURBINE SERVICES MARKET, BY SERVICE, 2016–2021 34
4.5 NORTH AMERICA TO DOMINATE GAS TURBINE SERVICES FOR POWER GENERATION SEGMENT 35
4.6 GAS TURBINE SERVICES MARKET, BY TYPE 36
5 MARKET OVERVIEW 37
5.1 INTRODUCTION 38
5.2 GAS TURBINE SERVICES MARKET: MARKET SEGMENTATION 39
5.2.1 BY TYPE 39
5.2.2 BY SERVICE PROVIDER 40
5.2.3 BY SERVICE 40
5.2.4 BY END-USER 40
5.2.5 BY REGION 41
5.3 MARKET DYNAMICS 41
5.3.1 DRIVERS 42
5.3.1.1 Stringent emission norms for gas turbine 42
5.3.1.2 Shale gas production boom 43
5.3.1.3 Upgradation of aging fleet of gas turbines 44
5.3.2 RESTRAINTS 44
5.3.2.1 Increasing focus on renewable energy 44
5.3.2.2 Rising cost of spare parts, labor costs, & transportation costs 44
5.3.2.3 In-house maintenance hinders outsourcing service opportunities 45
5.3.3 OPPORTUNITIES 45
5.3.3.1 Increase in number of combined cycle power plants 45
5.3.3.2 Rise in demand for condition monitoring services & data analytics 46
5.3.4 CHALLENGES 46
5.3.4.1 Availability of skilled workforce 46
5.4 TECHNICAL OVERVIEW 46
6 GAS TURBINE SERVICES MARKET, BY TYPE 48
6.1 INTRODUCTION 49
6.2 HEAVY DUTY TYPE 50
6.3 AERODERIVATIVE TYPE 51
7 GAS TURBINE SERVICES MARKET, BY SERVICE 53
7.1 INTRODUCTION 54
7.2 MAINTENANCE 55
7.3 REPAIR 56
7.4 OVERHAUL 57
8 GAS TURBINE SERVICES MARKET, BY END-USER 59
8.1 INTRODUCTION 60
8.2 POWER GENERATION 61
8.3 OIL & GAS 62
8.4 OTHER INDUSTRIAL 63
9 GAS TURBINE SERVICES MARKET, BY SERVICE PROVIDER 64
9.1 INTRODUCTION 65
9.2 OEM SERVICE PROVIDERS 65
9.3 NON-OEM SERVICE PROVIDERS 66
10 GAS TURBINE SERVICES MARKET, BY REGION 67
10.1 INTRODUCTION 68
10.2 ASIA-PACIFIC 69
10.2.1 BY TYPE 71
10.2.2 BY SERVICE PROVIDER 71
10.2.3 BY END-USER 72
10.2.4 BY SERVICE 72
10.2.5 BY COUNTRY 73
10.2.5.1 China 73
10.2.5.2 India 74
10.2.5.3 Japan 74
10.2.5.4 South Korea 75
10.2.5.5 Rest of Asia-Pacific 76
10.3 EUROPE 76
10.3.1 BY TYPE 78
10.3.2 BY SERVICE PROVIDER 78
10.3.3 BY END USER 78
10.3.4 BY SERVICE 79
10.3.5 BY COUNTRY 79
10.3.5.1 Russia 80
10.3.5.2 U.K. 80
10.3.5.3 Italy 81
10.3.5.4 Germany 81
10.3.5.5 Rest of Europe 82
10.4 NORTH AMERICA 83
10.4.1 BY TYPE 85
10.4.2 BY SERVICE PROVIDER 85
10.4.3 BY END-USER 86
10.4.4 BY SERVICE 86
10.4.5 BY COUNTRY 87
10.4.5.1 U.S. 87
10.4.5.2 Canada 88
10.5 MIDDLE EAST & AFRICA 88
10.5.1 BY TYPE 89
10.5.2 BY SERVICE PROVIDER 89
10.5.3 BY END USER 90
10.5.4 BY SERVICE 90
10.5.5 BY COUNTRY 91
10.5.5.1 Saudi Arabia 91
10.5.5.2 UAE 92
10.5.5.3 Iran 92
10.5.5.4 Egypt 93
10.5.5.5 Rest of Middle East & Africa 94
10.6 LATIN AMERICA 94
10.6.1 BY TYPE 94
10.6.2 BY SERVICE PROVIDER 95
10.6.3 BY END-USER 95
10.6.4 BY SERVICE 96
10.6.5 BY COUNTRY 96
10.6.5.1 Mexico 97
10.6.5.2 Argentina 97
10.6.5.3 Brazil 98
10.6.5.4 Rest of Latin America 99
11 COMPETITIVE LANDSCAPE 100
11.1 OVERVIEW 101
11.2 COMPETITIVE SITUATION & TRENDS 102
11.3 CONTRACTS & AGREEMENTS 104
11.4 MERGERS & ACQUISITIONS 105
11.5 EXPANSIONS 105
11.6 OTHER DEVELOPMENTS 106
12 COMPANY PROFILES 107
(Overview, Products & Services, Strategies & Insights, Developments and MnM View)*
12.1 INTRODUCTION 107
12.2 ETHOSENERGY 108
12.3 GENERAL ELECTRIC COMPANY 112
12.4 SIEMENS AG 117
12.5 SULZER AG 122
12.6 ANSALDO ENERGIA SPA 126
12.7 HPI LLC 129
12.8 KAWASAKI HEAVY INDUSTRIES LTD. 130
12.9 MAN DIESEL & TURBO SE 132
12.10 MJB INTERNATIONAL 134
12.11 MECHANICAL DYNAMICS & ANALYSIS 136
12.12 MITSUBISHI HITACHI POWER SYSTEMS 138
12.13 MTU AERO ENGINES AG 140
12.14 PROENERGY SERVICES LLC 143
12.15 SOLAR TURBINES, INCORPORATED 145
12.16 TURBINE SERVICES AND SOLUTIONS LLC 147
*Details on Overview, Products & Services, Strategies & Insights, Developments and MnM View might not be captured in case of unlisted companies.
13 APPENDIX 149
13.1 INSIGHTS FROM INDUSTRY EXPERTS 149
13.2 DISCUSSION GUIDE 150
13.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 153
13.4 INTRODUCING RT: REAL-TIME MARKET INTELLIGENCE 155
13.5 AVAILABLE CUSTOMIZATIONS 156
13.6 RELATED REPORTS 156
13.7 AUTHOR DETAILS 157