Gas Turbine and Turbine Services Market: Forecasted 4% CAGR by 2028, Examining Size, Share, and Demand

MarkNtel Advisors has recently published "Gas Turbine and Turbine Services Market Analysis Share, Growth, Demand, Forecast  2028," a comprehensive research report that provides in-depth analysis of various factors driving the industry's growth across different geographic regions. This report offers reliable insights into the historical, current, and projected trends, in the Gas Turbine and Turbine Services Market, presented through detailed explanations, tables, and figures. It equips stakeholders with valuable knowledge of the industry dynamics, enabling them to strategize effectively before making investment decisions.

The report indicates that the Gas Turbine and Turbine Services Market is anticipated to experience a CAGR of approximately 4% during the period of 2023-2028. Our analysis encompasses a thorough examination of various environmental factors, economic and social issues, technological advancements, and other relevant aspects that are crucial for stakeholders during decision-making processes. In order to provide a reliable, accurate, and comprehensive understanding of the industry, our analysts have conducted extensive research utilizing tools such as SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis and Porter's Five Forces Analysis.

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Market Dynamics

Key Driver: Escalating Energy Requirements Worldwide

With rapid urbanization & industrialization, coupled with increasing infrastructural developments & smart home construction activities worldwide, the electricity demand is increasing enormously. To cater to these requirements, both public & private sectors are either installing new power plants or expanding the capacity of their existing ones, i.e., leading to increasing installation of gas turbines in these power plants as they are less harmful. These trends project lucrative prospects for the Global Gas Turbine and Turbine Services Market during 2023-28.

Recent Developments

• In October 2019, GE Power improved the operational efficiency & performance of ADNOC Refining’s Ruwais General Utilities Plant by implementing its MXL2 upgrade solution on two GE 13E2 gas turbines. It resulted in increasing the total output of turbines by up to 23 megawatts using the same amount of fuel. It has also helped improve the availability of each turbine by an additional 6 days per annum by prolonging the duration of gas turbine maintenance intervals, thereby lowering operational costs.
• The same year, in September, Siemens attained a turnkey contract from specialty chemical group Evonik Industries to construct a combined cycle power plant at the Marl Chemical Park in North Rhine-Westphalia, Germany. This power plant will include two units with 90MW capacity each, generate electricity, and process steam for the chemical park.

Segmenting Success: Unveiling Opportunities in the Gas Turbine and Turbine Services Market 2023-2028

The Gas Turbine and Turbine Services Market, characterized by its fragmented nature and numerous subdivisions, is thoroughly examined in the report. We provide detailed insights on each segment and geographical location, empowering stakeholders and industry leaders to comprehend the market dynamics and devise new strategies and investments. Furthermore, by gaining a deeper understanding of the ebb and flow within each segment, investors can make well-informed decisions and expand their production and revenue streams in the coming years. The report focuses on key market dynamics, including recent developments, trends, demand and supply chain analysis, purchase patterns, and product/service pricing, among others, within the following segments:

Based on Type

- Gas Turbine Sales

-- Heavy Duty Turbine

-- Aeroderivative Turbine

-- Industrial Turbine

- Gas Turbine Services

-- Overhaul

-- Maintenance and Repair

Based on Service Provider

- OEM

- Non-OEM

Based on Application

- Power Generation

- Oil & Gas

- Other Industrial Application

Based on Capacity

- 30 MW and Below

- 31 MW to 100 MW

- 101 MW to 200 MW

- Above 200 MW

Geographically, the Gas Turbine and Turbine Services Market expands across the following:

- North America

- Europe

- Asia Pacific

- Middle East & Africa

- South America

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Unveiling the Competitive Landscape: Insights into Key Players in the Gas Turbine and Turbine Services Market 2023-2028

The report provides a comprehensive competitive analysis, highlighting a key aspect of the industry—the existing players. Each player is extensively profiled, covering vital aspects such as business overview, demand and supply chain, key strategies, latest news, product launches, pricing catalog, recent developments, revenue generation, stakes and investments, and trends. These insights aim to assist stakeholders in diversifying and strategizing their investments and participation in the Gas Turbine and Turbine Services Market, ultimately seeking substantial revenue generation over the forecasted years.

- General Electric

- Siemens AG

- Mitsubishi Hitachi Power Systems, Ltd.

- Kawasaki Heavy Industries, Ltd.

- Ansaldo Energia S.P.A.

- BHEL

- Westinghouse

- Sulzer AG

- MH Power

- EthosEnergy

- MJB International

- MTU Aero Engines AG

- Turbine Services and Solutions LLC

- Solar Turbines Inc.

- Centrax Gas Turbines

- Others

About MarkNtel Advisors

MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals. Using such information, our clients can identify attractive investment opportunities & strategize their moves to yield higher ROI (Return of Interest) through an early mover advantage with top-management approaches.

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