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Gas Turbine MRO Market in the Power Sector Market 2018 Industry Price Trend, Size Estimation, Industry Outlook, Business Growth, Report Latest Research, Business Analysis and Forecast 2023 Analysis Research | 360 Market Updates

Gas Turbine MRO Market in the Power Sector

Gas Turbine MRO Market in the Power Sector Market (2018 – 2023) report provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability. The Gas Turbine MRO Market in the Power Sector market report lists the leading competitors and provides the insights strategic industry Analysis of the key factors influencing the market.

Gas Turbine MRO Market in the Power Sector Market report is anticipated to register a CAGR of XX% over a five years forecast period (2018 – 2023).”

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List of Major Key players operating in the Global Gas Turbine MRO Market in the Power Sector Market are –

  • General Electric Co.
  • Bechtel Corporation
  • Flour Corporation
  • Amec Foster Wheeler PLC
  • Mitsubishi Heavy Industries
  • Ltd.
  • Siemens AG
  • Sulzer Corporation
  • Wood Group GTS
  • TGM Turbinas (now WEG SA)
  • Babcock & Wilcox Enterprises Inc

To maintain operational efficiency and meet stringent emission norms from the power plants, the trend of applying continuous maintenance, repair, and overhaul (MRO) services is rising. The global gas turbine MRO market in the power sector is expected to witness a moderate growth during 2018-2023 (the forecast period), in the midst of aging power infrastructure, and growing conversion of coal and nuclear-based power plant to gas-based power plant. On the contrary, the growing renewable mix in the global electricity generation is expected to act as a restraint for the MRO market. North America is expected to account for the largest market share during the forecast period. Moreover, Asia-Pacific is emerging as the fastest growing market.

Aging Power Facilities Fueling the Demand

The existing fleet of the electric power generation capacity has a wide age range. Most of the coal and nuclear-based power plants were built during 1970 and 1990, with peak addition in 1980. The gas-fired power plants have been known to be a bridge between coal and oil age and the renewable-based future. In the most recent wave of additions, the gas-fired power plants witnessed a peak in 2002, with the majority of them added between 1998 and 2008. Thus, the equipment installed in approximately all the gas-fired power plants, across the globe, are expected to require significant MRO services during the forecast period. Moreover, in the next ten years, USD 256.77 billion of investment is anticipated for the commissioning of 17,680 gas turbines (excluding micro turbines). Additionally, because of the advantages offered by gas-fired power plants, such as low carbon emission and high efficiency, many of the coal power plants are being replaced or retrofitted by gas-fired plants, which, in turn, is expected to increase the demand for gas turbine MRO services during the forecast period.

Asia-Pacific to Register the Highest Market Growth

According to the International Energy Agency (IEA), developing countries in Asia accounted for two-thirds of the global energy growth in 2017. Buoyed by the robust increase in demand for energy and the rapid capacity expansions in the power sector, the power plant service activities in Asia-Pacific continues to soar high. Asia-Pacific is witnessing a significant transition from nuclear and coal-based power generation to gas-fired power generation, which is expected to present a tremendous market opportunity for the growth of the gas turbine MRO services market in Asia-Pacific. However, North America is expected to hold the largest market share during the forecast period, with Europe emerging as another significant market for MRO services in the power industry.

Natural Gas Set to Fuel the Future of Power Generation in the United States

The US market is experiencing an upsurge in the establishment of small-scale turbines, with an increased focus on flexibility and efficiency. By 2038, the natural gas-fired generation facilities are expected to fuel 348,000 MW of gas-fired capacity to the US grid. The natural gas-fired combined cycle gas turbine (CCGT) power plants are expected to account for over 50% of the power generated in the United States. According to EIA, power plants fueled with natural gas are likely to account for 70% of all new generation capacity after 2020. With the increasing adoption rate of gas-based power generation in the United States, the demand for MRO services in the power sector is expected to increase during the forecast period, significantly.

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Scope of the Report:

The report analyses Gas Turbine MRO Market in the Power Sector market, which includes –

  • Analysis of the growth of Gas Turbine MRO Market in the Power Sector market in global and regional level including Asia-Pacific, Americas, and EMEA.
  • The report provides Gas Turbine MRO Market in the Power Sector market analysis for key countries including the US, Canada, Chile, China, India, Japan, the UK, Germany, France, and Italy.
  • The report offers country level Gas Turbine MRO Market in the Power Sector market volume and value by end-user segment for the period 2012-2023.
  • Qualitative analysis of key market drivers and restraints, and analysis of their impacts on Gas Turbine MRO Market in the Power Sector market are discussed.
  • The report provides competitive landscape at country level for the year 2018. It also covers key policies and initiatives, key deals, and key upcoming projects.

Highlighted points of Gas Turbine MRO Market in the Power Sector Market Report:

  • Varying dynamics of the Gas Turbine MRO Market in the Power Sector industry.
  • Prospective changes in sales volumes and worldwide share growth in upcoming years (2018-2023).
  • Gas Turbine MRO Market in the Power Sector market report recognizes the key drivers of growth and challenges of the key industry players.
  • Competitors profiles along with product description, overview, and business data.
  • A complete analysis of market risks, opportunities, limitations, and growth of the market.
  • Market driving and restraining factors.
  • Delivers information on the historical and current market size and the future potential of the market.
  • Gas Turbine MRO Market in the Power Sector market report provides a comprehensive analysis of the market with respect to market dynamics, competitive analysis, and upcoming trends of the market.

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Reasons to Purchase Gas Turbine MRO Market in the Power Sector Market Report:

  • The report analyses how stringent emission control norms will drive the global Gas Turbine MRO Market in the Power Sector market.
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
  • Study on the product type that is expected to dominate the market.
  • Study on the regions that are expected to witness the fastest growth during the forecast period.
  • Identify the latest developments, market shares and strategies employed by the major Gas Turbine MRO Market in the Power Sector market players.
  • 3 months’ analyst support along with the Market Estimate sheet (in excel).

In this study, the years considered to estimate the market size of Gas Turbine MRO Market in the Power Sector:

History Year: 2013-2017
Base Year: 2017
Estimated Year: 2018
Forecast Year 2018 to 2023

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