Gas Turbine Services Market overview
Gas Turbine Services Market share is expected to increase at a high USD 31.57 Billion, CAGR of 4.42% to reach a high market value during the forecast period.
Our Market Overview and Regional Analysis provide an understanding of the industries, companies and products within the market. Our Trends section provides an analysis of how the market is currently performing and looks set to perform in the future. Our Growth Forecast section gives you an idea about how our Market Analysis works, by giving us further details on how we can build our Market Forecast model for a particular domain within this report. Lastly, in our Metrics section we outline important data points relating to each of these sections as well as our current forecasted price range.
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Market opportunities
One of the reasons why there is more demand for gas turbines is that there is much more demand for engines that can produce more electrical and mechanical energy without harming the environment. The technologies that can do this are much more advanced, especially in developed nations. Therefore, companies are investing heavily in generating more electrical energy and in improving those machines that are capable of doing so.
Market segmentation
By type
This segment can be grouped into the following sub-segments:
- Industrial
- Aero-derivative
- Heavy-duty
By service
This segment can be grouped into the following sub-segments:
- Overhaul
- Spare parts supply
- Maintenance
- Repair
By end-user
This segment can be grouped into the following sub-segments:
- Oil and gas
- Power generation
- Others
The power generation sub-segment currently has the largest market share. It’s mainly because more power generation plants use gas turbines.
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Regional analysis
The global gas turbine services market can be grouped into the following regions:
- North America
- The European Union
- South America
- Asia-Pacific
- The Middle East and Africa
Industry news
A Swiss company was recently acquired by Caterpillar. The resulting company will be selling more gas turbine services around the world.
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