The Gas Turbine Services Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the Gas Turbine Services Market?
The Gas Turbine Services market has experienced substantial growth in its market size. The market size was $29.25 billion in 2024, and it is projected to increase to $32.09 billion in 2025, progressing at a compound annual growth rate (CAGR) of 9.7%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Gas Turbine Services Industry?
By 2029, the Gas Turbine Services market is projected to reach a size of $47.06 billion, growing at a compound annual growth rate (CAGR) of 10.0%.
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What are the Key Growth Drivers Fueling the Gas Turbine Services Market?
The key drivers in the gas turbine services market are:
• Infrastructure development in the energy sector
• Implementation of preventive maintenance strategies
• Increase in air travel leading to higher demand for gas turbines in aircraft
• Emphasis on cost efficiency and predictive maintenance in the industry
Global Market Segmentation: Identifying Major Gas Turbine Services Industry Segments
The gas turbine services market covered in this report is segmented –
1) By Type: Heavy Duty, Industrial, Aeroderivative
2) By Service: Maintenance and Repair, Overhaul, Spare parts supply
3) By Service Provider: OEM, Non-OEM
4) By End-User: Power Generation, Oil And Gas, Other End-Users
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What are the Emerging Trends Shaping the Future of the Gas Turbine Services Market?
The key trends in the gas turbine services market are:
• Regulatory compliance rules are heavily shaping the gas turbine services market.
• Offering comprehensive services is an emerging trend in the industry.
• The development of hybrid power solutions is significantly impacting the future.
• The demand for aftermarket spare parts is experiencing prominent growth.
Who Are the Top Competitors & Leading Players in the Gas Turbine Services Market?
Major companies in the gas turbine services market are:
• Siemens AG
• General Electric Company
• Mitsubishi Heavy Industries Ltd.
• Ansaldo Energia SpA
• MAN Energy Solutions SE
• Kawasaki Heavy Industries Ltd.
• Caterpillar Inc.
• MTU Aero Engines AG
• EthosEnergy Group Limited
• ProEnergy Services LLC
• Sulzer Ltd.
• Rolls-Royce PLC
• Solar Turbines Incorporated
• Centrax Gas Turbines Limited
• OPRA Turbines BV
• Welland Power Limited
• Turbine Technology Services Corporation
• Mechanical Dynamics & Analysis LLC
• APR Energy Limited
• PW Power Systems LLC
• Stellar Energy Americas Inc.
• Alba Power Limited
• National Electric Coil
• Turbine Services Limited
• Stork BV
• TurbinePROs
• Mechanical Field Support BV
Regional Dominance: Which Area Leads the Global Template Market?
North America was the largest region in the gas turbine services market share in 2024
