Gas turbine services include maintenance, repair, overhaul, and supply of spare parts. The gas turbine requires periodic inspection, repair, and replacement of parts in order to achieve optimum efficiency and reliability. The gas turbine services involve the use of data management techniques, such as asset management and predictive analytics to observe the technological capability of turbines. They help reduce the outages and maintenance costs while maintaining maximum availability and reliability. Gas turbine services are used to monitor the operations and check the performance of gas turbines through annual maintenance and repair.
Gas turbines are used in power generation, oil & gas, and marine industries. The objective of gas turbine services is to use the lifetime potential of the turbines under the various environmental conditions. Further, it boosts the efficiency and reduces the cost of gas turbine operations at regular intervals of inspection. Remote monitoring services play an important role, which include data acquisition and diagnosis of the gas turbine. Hence, remote monitoring allows the operator to gain real-time information of gas turbine from any web-based computer, across the world.
The global gas turbine services market is expected to witness high growth during the forecast period, owing to the factors, such as the upgrade of aging fleet of gas turbines, shift towards de-centralized power distribution, growing shale production, and the rising need for emission control. The digitization of gas turbines is also expected to drive the gas turbine services market. The increasing demand for data analytics is a major opportunity in the global gas turbine services market. However, the increasing use of renewable energy sources for power generation, might hinder the growth of the market.
For the purpose of study, the global gas turbine services market has been segmented based on type, service type, end-use, and region. On the basis of type, the market has been segmented into, heavy duty gas turbine, industrial gas turbine, and aeroderivative gas turbine. The heavy duty gas turbine segment is expected to grow at the fastest rate during the forecast period.
On the basis of service type, the market has been segmented into, maintenance & repair, overhaul, and spare parts supply. The maintenance & repair segment is expected to grow at the fastest rate during the forecast period. On the basis of end-use, the market has been segmented into, power generation, oil & gas, and other industries (marine industry, chemicals, and food processing). In 2017, the power generation segment held the largest market share of the global gas turbine services market. On the basis of region, the market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and South America.