DUBLIN--(BUSINESS WIRE)--The "Gas Turbine MRO Market in the Power Industry Report: Trends, Forecast and Competitive Analysis" report has been added to ResearchAndMarkets.com's offering.
The global gas turbine MRO market in the power industry is expected to reach an estimated $17.3 billion by 2023 and is forecast to grow at a CAGR of 3.6% from 2018 to 2023.
The future of the gas turbine maintenance, repair, and overhaul (MRO) market, looks good with opportunities in the maintenance service type. The major drivers for market growth are the aging fleet of gas turbines and stringent government regulations on emission control.
The study includes the global gas turbine MRO market for the power industry size and forecast of the global gas turbine MRO market in the power industry through 2023, segmented by end use industry, type of service, type of service provider, turbine capacity, and region.
Some of the global gas turbine MRO market for the power industry profiled in this report include are General Electrical, Siemens, Mitsubishi Heavy Industries, Wood Group, and Sulzer.
The researcher forecasts that maintenance will remain the largest segment and witness the highest growth in the forecast period supported by the increasing fleet age of gas turbines in the power industry.
By end use industries, electric power utility is expected to be the largest segment and witness the highest growth during the forecast period. Increasing demand for electricity is the major driving growth for this segment over the forecast period.
North America is expected to remain the largest market and witness the highest growth over the forecast period due to MRO services required for a large number of existing and aging gas turbines shipped to this region in prior years.
- General Electric
- Mitsubishi Heavy Industries
- Wood Group
For more information about this report visit https://www.researchandmarkets.com/research/wbrzxw/global_gas?w=4