Increase in Power Generation Sector to Support Global Gas Turbine Service Market

Published On : 02 Jan 2018

Recently, QYResearchReports.com has announced the addition of a new market report on the global market for gas turbine services. The report, titled “Global Gas Turbine Service Market Size, Status and Forecast 2022,” examines the previous and the current performance of this market, focusing specifically on the factors that are influencing the markets for gas turbine services in the European Union (EU), South East Asia, the U.S., India, China, AND Japan over the forthcoming years.

According to the research study, the increasing installation of gas turbines, augmenting the need for close monitoring, regular inspection, and maintenance, is the key factor that is boosting the global market for gas turbine services. With the rising application of gas turbines to cycle power plants, the future of this market looks especially bright, as the power generation industry is witnessing a tremendous surge at present and is expected to continue on the same track over the next few years, reports the market study.

In this 104-page report, the global market for gas turbine services has been assessed on the basis of the product, application, and its regional reach. Based on the product, the market has been classified into aero-derivative services and heavy-duty services. Among the two, the demand for heavy-duty services is comparatively higher than aero-derivative services and the trend is anticipated to continue over the next few years. Based on the application, the market has been classified into the power generation sector, the oil and gas sector, and several other industries. The power generation sector has been reporting a higher usage of gas turbine services and is expected to remain doing so over the forthcoming years, states the research report.

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In terms of the region, the global market for gas turbine services has been categorized into the European Union (EU), the U.S., the South East Asia, Japan, China, and India. With the Advancements in technologies and the increasing urbanization, the South East Asia, China, India, and Japan are projected to lead the global market over the next few years. Apart from these, the U.S. market for gas turbine services is also predicted to register a healthy rise in the years to come, thanks to the presence of a large pool of existing gas turbines fleet, notes the market study.

The report also presents a thorough evaluation of the competitive landscape prevalent in the worldwide market for gas turbine services. As per the study, at the forefront of this market are General Electric, Mitsubishi Hitachi Power Systems, Siemens, Wood Group, Solar Turbines, MTU Aero Engines, MAN Diesel & Turbo, Proenergy Services, Kawasaki Heavy Industries, Ansaldo Energia, Sulzer, and MJB International. These players are expected to focus on expanding their regional boundaries in order to sustain in their competitive environment. They are also concentrating on technological advancements in their offerings to strengthen their presence in this market, states the report.

 

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