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Heavy-Duty Gas Turbine Services Market Size, Share & Industry Analysis By Service (Overhaul, Maintenance, Repair, others), By End-User (Oil & Gas, Power Generation, Aerospace, Marine, Others) And Regional Forecast, 2024-2032

Region : Global | Report ID: FBI106436 | Status : Ongoing

 

KEY MARKET INSIGHTS

Gas turbines have been in utilization for over a long period and are widely integrated across different verticals to suffice the exponentially increasing electricity demand across the globe. Consequenlty, gas turbine services are effectively applied to perform maintenance and repair operations to optimize the operational efficiency of the systems.


In comparison to aero-derivative systems, heavy-duty turbines are designed to operate over a variety of fuels and deliver enhanced output with low defects. However, the presence of complex large-sized machinery requires frequent inspection and repair actions. Therefore, the different types of services provide enable less effort to remove and replace components in the plants.


  • As per the industry giant General Electric (GE), U.S.-based energy equipment delivering conglomerate offers heavy-duty gas turbines with an output ranging from tens of MW to over 570 MW. The systems are fabricated to function in a combined and simple-cycle design for applications in combined heat and power (CHP), fast and emergency power, utility power generation, grid firming, and many more.


The rising energy demand coupled with the expanding industrial infrastructure has resulted in the installation of numerous reliable technologies to cater to the increasing consumption. Gas turbines are a type of internal combustion (IC) engine with different components such as compressor, combustor, downstream turbine, and turbofans aligned to power pumps, aircraft, locomotives, marine vessels, electrical generators, gas compressors, and various others.


  • According to the International Energy Agency (IEA), the total natural gas consumption across the globe equaled about 76.01 million terajoule-gross (TJ-gross) by the end of 2019. The organization also published that the total intake observed a year-on-year increase of around 1.42 million TJ-gross rising from nearly 74.59 million TJ-gross in 2018.


Developed regions such as North America have observed a significant utilization of different fuels to generate electricity annually. Regional nations including the U.S. and Canada are likely to be among the key countries shaping the industry trends for the global heavy-duty gas turbine services market.


  • For instance, the U.S. Energy Information Administration (EIA) stated that the total electricity generation across the country totaled 4.12 trillion kilowatt-hours (kWh) in 2020. The government-backed agency further reported that natural gas fuel used across steam and gas turbines dominated the generation source constituting around 40% of the overall production.


IMPACT OF COVID-19 ON THE BENCH POWER SUPPLY MARKET


The global heavy-duty gas turbine services market is likely to observe substantial turmoil with the emergence of the spread of novel coronavirus or SARS‐CoV‐2. The halts in the industrial operations caused by the stern government policies such as state or national lockdowns and social distancing norms, constrained investments in new end-user projects, disruptions in global supply chains, limited cross-border trades, declining energy demand, and many other factors hamper the industry outlook.


  • In June 2021, the BP Statistical Review of World Energy 2021 reported that the total natural gas production across the globe declined from about 3.98 trillion cubic meters (tcm) in 2019 to slightly over 3.85 tcm owing to the supply-demand gap of hydrocarbons.


However, the continuous efforts by key organizations and healthcare research authorities to effectively introduce large-scale vaccination programs to minimize risk to populations and resume continuous operations is anticipated to somehow counter the disruptions.

KEY INSIGHTS


The report will cover the following key insights:


  • Recent Advancements in Heavy-Duty Gas Turbine Services

  • Key Industry Trends

  • Regulatory Landscape for Heavy-Duty Gas Turbine Services

  • Key Industry Developments (Mergers, Acquisitions, and Partnerships)

  • Porter’s Five Forces Analysis

  • Impact of COVID-19 on the Market


ANALYSIS BY END-USER


The global heavy-duty gas turbine services market can be segregated into oil & gas, power generation, aerospace, marine, and others. The oil & gas segment is projected to hold a substantial portion of the industry owing to the need for high output continuous power sources across onshore & offshore hydrocarbon assets to upkeep continuous operations during the forecast period.

REGIONAL ANALYSIS


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The North America region is projected to be among the leading territories over the forecast timeframe. The presence of various scale heavy-duty gas turbine manufacturers and servicing companies coupled with the expanding consumption of natural gas fuel. Furthermore, countries across the Asia Pacific region are likely to observe a significant growth rate owing to the rapid rate of industrial modernization, the prevalence of large-scale manufacturing facilities, and rising energy demand, among other major factors.

KEY PLAYERS COVERED


The report will include profiles of key players such as GE, Gas Turbine Services (GTS), Sulzer, Mechanical Dynamics & Analysis LLC (MD&A), EthosEnergy, Mitsubishi Power Americas, MJB International, MAN Energy Solutions, FieldCore, MTU Aero Engines, Stork, a Fluor company, Turbine Services Limited, and Mechanical Field Support bv, among many others.

SEGMENTATION
















By Service


By End-User


By Geography



  • Overhaul

  • Maintenance

  • Repair

  • others




  • Oil & Gas

  • Power Generation

  • Aerospace

  • Marine

  • Others




  • North America (U.S. and Canada)

  • Europe (U.K., Germany, France, Italy, Spain, Russia, and Rest of Europe)

  • Asia Pacific (China, India, Japan, Australia, Southeast Asia, and Rest of Asia Pacific)

  • Latin America (Brazil, Mexico, and Rest of Latin America)

  • Middle East & Africa (GCC, South Africa, and Rest of Middle East & Africa)



KEY INDUSTRY DEVELOPMENTS



  • In September 2021, GE announced to complete the modernization of the Elpedison’s Thessaloniki power plant located in Greece. The company also cleared that the major overhaul operations were concluded by FieldCore along with the digital solutions by GE to enhance the asset’s overall output by over 20 MW.

  • In November 2020, Siemens Energy announced to introduce key upgrades such as new controllers under its extended service agreement with the Dubai Electricity and Water Authority (DEWA) for a power plant. The next-generation controller solutions are designed to utilize advanced breakthroughs including machine learning and artificial intelligence (AI) to provide an enhanced scenario-based assessment of the asset’s performance.


  • Ongoing
  • 2023
  • 2019-2022

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