Edit Content

Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. We have a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. 

Global Gas Turbine Services Market to reach USD 54.93 billion by 2027.

Global Gas Turbine Services Market to reach USD 54.93 billion by 2027.

Product Code: OIRIGS-13879350
Publish Date: 11-07-2021
Page: 200

Global Gas Turbine Services Market is valued approximately at USD 28.55 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 9.8% over the forecast period 2021-2027. The gas turbine services are comprised of using data management techniques, such as asset management and predictive analytics to assess the technological capability of turbines. Gas turbines requires periodic inspection, repair and replacement of parts to ensure optimum efficiency and reliability. Growing trend of multiyear service contracts signed by gas turbine users is pushing the market towards growth. Rising number of gas turbine installation growing the need for inspecting, maintaining and repairing services, growth in upgradation of aging fleet of gas turbine and rising production of shale gas are fueling the growth in the market. For instance, according to Statista, United States’ shale gas production is expected to be 80 billion cubic feet per day by 2040, as compared to 37 billion cubic feet per day in 2015. Also, in November 2019, Opra Turbines signed an order with Spirit Energy to deliver one OP16-3B gas turbine generator to replace existing Dresser Rand KG2-3C gas turbine. Furthermore, shift toward decentralized power distribution and digitization of gas turbines are expected to fuel the demand in market in coming years. However, more reliance on coal-based power generation in emerging economies such as India and China and limited natural gas reserves may hinder the growth during forecast period.

Among Asia Pacific, North America, Europe, Latin America, and Rest of the World, Asia Pacific is dominating the global market due to advancement in technology and growing urbanization in the region. Whereas, North America is expected to grow at the fastest pace during forecast period because of presence of large number of existing and aging gas turbine fleet in United States and Canada.
Major market player included in this report are:

General Electric (GE).
Siemens AG
Mitsubishi Hitachi Power Systems, Ltd.
Kawasaki Heavy Industries, Ltd.
Bharat Heavy Electricals Limited (BHEL)
Ansaldo Energia S.p.A.
Solar Turbines Incorporated
MAN Energy Solutions
Rolls-Royce plc
Centrax Gas Turbines

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Turbine Type:
Heavy Duty
By Turbine Capacity:
200 MW
By Type:
Maintenance & Repair
Spare Parts Supply
By Provider:
By End-use:
Power Generation
Oil & Gas
Other Industrial

By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027.

Target Audience of the Global Gas Turbine Services Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2027 (USD Billion)
1.2.1. Gas Turbine Services Market, by Region, 2019-2027 (USD Billion)
1.2.2. Gas Turbine Services Market, by Turbine Type, 2019-2027 (USD Billion)
1.2.3. Gas Turbine Services Market, by Turbine Capacity, 2019-2027 (USD Billion)
1.2.4. Gas Turbine Services Market, by Type, 2019-2027 (USD Billion)
1.2.5. Gas Turbine Services Market, by Provider, 2019-2027 (USD Billion)
1.2.6. Gas Turbine Services Market, by End-use, 2019-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Gas Turbine Services Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Gas Turbine Services Market Dynamics
3.1. Gas Turbine Services Market Impact Analysis (2019-2027)
3.1.1. Market Drivers Rising shale gas production Growing upgradation of aging fleet of gas turbine
3.1.2. Market Restraint More reliance on coal-based power generation in emerging economies Limited natural gas reserve
3.1.3. Market Opportunities Decentralization of power distribution Digitization of gas turbines
Chapter 4. Global Gas Turbine Services Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2018-2027)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Gas Turbine Services Market, by Turbine Type
5.1. Market Snapshot
5.2. Global Gas Turbine Services Market by Turbine Type, Performance – Potential Analysis
5.3. Global Gas Turbine Services Market Estimates & Forecasts by Turbine Type 2018-2027 (USD Billion)
5.4. Gas Turbine Services Market , Sub Segment Analysis
5.4.1. Heavy Duty
5.4.2. Industrial
5.4.3. Aeroderivative
Chapter 6. Global Gas Turbine Services Market, by Turbine Capacity
a. Market Snapshot
6.1. Global Gas Turbine Services Market by Turbine Capacity, Performance – Potential Analysis
6.2. Global Gas Turbine Services Market Estimates & Forecasts by Turbine Capacity 2018-2027 (USD Billion)
6.3. Gas Turbine Services Market, Sub Segment Analysis
6.3.1. 200 MW
Chapter 7. Global Gas Turbine Services Market, by Type
b. Market Snapshot
7.1. Global Gas Turbine Services Market by Type, Performance – Potential Analysis
7.2. Global Gas Turbine Services Market Estimates & Forecasts by Type 2018-2027 (USD Billion)
7.3. Gas Turbine Services Market, Sub Segment Analysis
7.3.1. Maintenance & Repair
7.3.2. Overhaul
7.3.3. Spare Parts Supply
Chapter 8. Global Gas Turbine Services Market, by Provider
c. Market Snapshot
8.1. Global Gas Turbine Services Market by Provider, Performance – Potential Analysis
8.2. Global Gas Turbine Services Market Estimates & Forecasts by Provider 2018-2027 (USD Billion)
8.3. Gas Turbine Services Market, Sub Segment Analysis
8.3.1. OEM
8.3.2. Non-OEM
Chapter 9. Global Gas Turbine Services Market, by End-use
d. Market Snapshot
9.1. Global Gas Turbine Services Market by End-use, Performance – Potential Analysis
9.2. Global Gas Turbine Services Market Estimates & Forecasts by End-use 2018-2027 (USD Billion)
9.3. Gas Turbine Services Market , Sub Segment Analysis
9.3.1. Power Generation
9.3.2. Oil & Gas
9.3.3. Other Industrial
Chapter 10. Global Gas Turbine Services Market, Regional Analysis
10.1. Gas Turbine Services Market, Regional Market Snapshot
10.2. North America Gas Turbine Services Market
10.2.1. U.S. Gas Turbine Services Market Turbine Type breakdown estimates & forecasts, 2018-2027 Turbine Capacity breakdown estimates & forecasts, 2018-2027 Type breakdown estimates & forecasts, 2018-2027 Provider breakdown estimates & forecasts, 2018-2027 End-use breakdown estimates & forecasts, 2018-2027
10.2.2. Canada Gas Turbine Services Market
10.3. Europe Gas Turbine Services Market Snapshot
10.3.1. U.K. Gas Turbine Services Market
10.3.2. Germany Gas Turbine Services Market
10.3.3. France Gas Turbine Services Market
10.3.4. Spain Gas Turbine Services Market
10.3.5. Italy Gas Turbine Services Market
10.3.6. Rest of Europe Gas Turbine Services Market
10.4. Asia-Pacific Gas Turbine Services Market Snapshot
10.4.1. China Gas Turbine Services Market
10.4.2. India Gas Turbine Services Market
10.4.3. Japan Gas Turbine Services Market
10.4.4. Australia Gas Turbine Services Market
10.4.5. South Korea Gas Turbine Services Market
10.4.6. Rest of Asia Pacific Gas Turbine Services Market
10.5. Latin America Gas Turbine Services Market Snapshot
10.5.1. Brazil Gas Turbine Services Market
10.5.2. Mexico Gas Turbine Services Market
10.6. Rest of The World Gas Turbine Services Market
Chapter 11. Competitive Intelligence
11.1. Top Market Strategies
11.2. Company Profiles
11.2.1. General Electric (GE) Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
11.2.2. Siemens AG
11.2.3. Mitsubishi Hitachi Power Systems, Ltd.
11.2.4. Kawasaki Heavy Industries, Ltd.
11.2.5. Bharat Heavy Electricals Limited (BHEL)
11.2.6. Ansaldo Energia S.p.A.
11.2.7. Solar Turbines Incorporated
11.2.8. MAN Energy Solutions
11.2.9. Rolls-Royce plc
11.2.10. Centrax Gas Turbines

Chapter 12. Research Process
12.1. Research Process
12.1.1. Data Mining
12.1.2. Analysis
12.1.3. Market Estimation
12.1.4. Validation
12.1.5. Publishing
12.2. Research Attributes
12.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

Need Assistance

Contact Person -
Krishant Mennon
Call us @
+ 91 99931 15879
Email: sales@bizwitresearch.com


Why Choose Us?

Quality over Quantity

Backed by 60+ paid data sources our reports deliver crisp insights with no compromise quality.

Analyst Support

24x7 Chat Support plus
free analyst hours with every purchase

Flawless Methodology

Our 360-degree approach of market study, our research methods leave stones unturned.

Enquiry Now