The global combustion turbine services market is expected to grow from USD 16.94 billion in 2019 to USD 23.16 billion by 2027, at a CAGR of 3.98% during the forecast period from 2020-2027.
A combustion turbine is a combustion engine that coverts the natural gas or other liquid fuels to mechanical energy. The turbine components are subjected to extremely high temperatures and high pressure. This energy then drives the generator to produce electrical power. Regular maintenance is necessary to ensure the effective and efficient performance of the gas turbine.
Increasing demand to enhance the overall productivity of plants for the long term is one of the prominent factors driving market growth. The increasing installation of gas turbine services to fulfil the demand of energy, also fuelling the demand for combustion turbine services. Furthermore, the rise in the need for aftermarket services for combustion turbines is anticipated to drive the market in the upcoming years. However, these services are quite expensive, and thus, plant owners avoid doing services on a regular basis, which could limit the market growth in the upcoming years.
This study delivers a comprehensive analysis of type, application, and region. The type segment includes maintenance, repair, and overhaul. Maintenance segment accounted for a major market share of 43.35% in 2019. Regular maintenance of combustion turbine increases the productivity of facility and system efficiency. Regular maintenance reduces the overall cost and avoids the unscheduled repair, downtime, and forces outrage. Thus, many facilities are demanding for the proper maintenance of the combustion turbine, which is boosting the growth of this segment. The application segment is classified into oil turbine services, gas energy turbine services, and others. Gas, energy turbine services, is projected to grow at the highest CAGR of 4.95% over the forecast period. With the increase in the demand for power generation, the installation of gas turbines is witnessing rapid growth. In addition to this, there is also the rising trend of up-gradation of existing gas turbines to boost power generation. Thus, rising in the installation of gas turbines across the globe, the demand for services is likely to increase in the upcoming years.
The combustion turbine services market has been divided into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America led the global gas turbine services market and held the largest market share of 31.25% in the year 2019. Rising power generation from natural gases in North America is the factor driving the growth of the market. As per the study by U.S. Energy Information Administration, in the year 2019, around 63% of total electricity generation was from fossil fuels— natural gas, coal, petroleum, and other gases. Combustion turbines are necessary for the conversion of these natural gases into energy. Thus, increasing the installation of combustion turbines in the region, driving the growth of the market.
Some of the prominent companies in the combustion turbine services market are Sulzer Ltd., Siemens Ltd., General Electric, Mitsubishi Hitachi Power Systems, MAN Diesel & Turbo, Kawasaki, Mechanical Dynamics and Analysis, EthosEnergy, and MJM International among others. Major players are continuously focusing on strategic partnerships, new developments, acquisitions, and venture capital investments to obtain high growth to gain a significant share in the market. In July 2019, Sulzer Ltd. announced that it completed the acquisition of Alba Power, a Scottish aero-derivative gas turbine services company, to diversify its gas turbine service business into distributed power and offshore as well as marine applications.
This study forecasts revenue growth at global, regional, and country levels from 2013 to 2027. Fior Markets has segmented the on the basis of below-mentioned segments:
Chapter 1 Introduction 12
1.1 Research Methodology 12
1.2 FMR desk research 13
1.2.1 FMR data synthesis 14
1.2.2 Data validation and market feedback 14
1.2.3 FMR data sources 15
Chapter 2 Global Combustion Turbine Services Market Overview 17
2.1 Product Overview and Scope of Combustion Turbine Services 17
2.2 Commercial Types of Combustion Turbine Services 20
2.2.1 Maintenance 21
2.2.2 Repair 23
2.2.3 Overhaul 24
2.3 Downstream Application of Combustion Turbine Services 25
2.3.1 Oil Turbine Services 26
2.3.2 Commercial Use Gas Energy Turbine Services 28
2.4 Development History of Combustion Turbine Services 29
2.5 Market Status and Trend of Combustion Turbine Services 2013-2027 32
2.6 Regional Combustion Turbine Services Market Status and Trend 2013-2027 34
2.6.1 North America Market Status and Trend 2013-2027 34
2.6.2 Europe Market Status and Trend 2013-2027 36
2.6.3 Asia Pacific Market Status and Trend 2013-2027 38
2.6.4 South America Market Status and Trend 2013-2027 40
2.6.5 Middle East & Africa Market Status and Trend 2013-2027 41
Chapter 3 Global Market Status by Regions 42
3.1 Market Development of Combustion Turbine Services 2013-2018 42
3.2 Production Market of Combustion Turbine Services by Regions 43
3.2.1 Sales (Number of Combustion Turbine Service) of Combustion Turbine Services by Regions 43
3.2.2 Regions Sales Value of Combustion Turbine Services by Regions 48
Chapter 4 Global Combustion Turbine Services Production by Regions 53
4.1 Sales (Number of Combustion Turbine Service) of Combustion Turbine Services by Types 53
4.2 Sales Value of Combustion Turbine Services by Types 58
4.3 Market Forecast of Combustion Turbine Services by Types 63
Chapter 5 Global Market Status by Downstream Industry 68
5.1 Sales (Number of Combustion Turbine Service) of Combustion Turbine Services by Downstream Industry 68
5.2 Market Forecast of Combustion Turbine Services by Downstream Industry 73
Chapter 6 Market Driving Factor Analysis of Combustion Turbine Services 75
6.1 Global Economy Situation and Trend Overview 75
6.2 Combustion Turbine Services Downstream Industry Situation and Trend Overview 77
Chapter 7 Combustion Turbine Services Market Competition Status by Major Manufacturers 78
7.1 Sales (Number of Combustion Turbine Service) of Combustion Turbine Services by Major Manufacturers 78
7.2 Sales Value of Combustion Turbine Services by Major Manufacturers 82
Chapter 8 Combustion Turbine Services Major Manufacturers 86
8.1 General Electric 86
8.1.1 COMBUSTION TURBINE SERVICES Type and Applications 89
8.1.2 General Electric Combustion Turbine Services Sales, Price, Revenue, Gross Margin and Market Share (2013-2017) 90
8.2 Sulzer Ltd. 91
8.2.1 COMBUSTION TURBINE SERVICES Type and Applications 94
8.2.2 Sulzer Ltd. Combustion Turbine Services Sales, Price, Revenue, Gross Margin and Market Share (2013-2017) 95
8.3 Siemens Ltd. 96
8.3.1 COMBUSTION TURBINE SERVICES Type and Applications 99
8.3.2 Siemens Combustion Turbine Services Sales, Price, Revenue, Gross Margin and Market Share (2013-2017) 101
8.4 Mitsubishi Hitachi Power Systems 102
8.4.1 COMBUSTION TURBINE SERVICES Type and Applications 104
8.4.2 Mitsubishi Hitachi Power Systems Combustion Turbine Services Sales, Price, Revenue, Gross Margin and Market Share (2013-2017) 106
8.5 MAN Diesel & Turbo 107
8.5.1 COMBUSTION TURBINE SERVICES Type and Applications 110
8.5.2 MAN Combustion Turbine Services Sales, Price, Revenue, Gross Margin and Market Share (2013-2017) 111
8.6 Kawasaki 112
8.6.1 Combustion Turbine Services Type and Applications 115
8.6.2 Kawasaki Combustion Turbine Services Combustion Turbine Services Sales, Price, Revenue, Gross Margin and Market Share (2013-2017) 117
8.7 Mechanical Dynamics and Analysis 118
8.7.1 Combustion Turbine Services Type and Applications 121
8.8 EthosEnergy 123
8.8.1 Combustion Turbine Services Type and Applications 125
8.9 MJM International 127
8.9.1 Type and Applications 129
8.9.2 MJB International Combustion Turbine Services Sales, Price, Revenue, Gross Margin and Market Share (2013-2017) 130
8.10 Ansaldo Energia 131
8.10.1 Combustion Turbine Services Type and Applications 133
8.10.2 Ansaldo Energia S.p.A. Combustion Turbine Services Sales, Price, Revenue, Gross Margin and Market Share (2013-2017) 134
Chapter 9 Upstream and Downstream Market Analysis of Combustion Turbine Services 135
9.1.1 Industry Chain of Combustion Turbine Services 135
9.1.2 Labor Cost Analysis 136
184.108.40.206 USA Labor Cost Analysis 137
Chapter 10 Marketing Status Analysis of Combustion Turbine Services 141
10.1 Marketing Channel 141
10.1.1 Direct Marketing 143
10.1.2 Indirect Marketing 144
10.2 Market Positioning 146
10.2.1 Marketing Channel Future Trend 146
10.2.2 Pricing Strategy 147
10.2.3 Brand Strategy 150
10.3 Market Effect Factor 152
10.3.1 Economic/Political Environmental Change 152
10.3.2 Global Economy Analysis 153
Chapter 11 Factors Influencing 154
11.1 Macro-Economic Factors 154
Chapter 12 Research Findings and Conclusion 159
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