NEW YORK, April 3, 2018 /PRNewswire/ -- Trends, opportunities and forecast in gas turbine MRO market in the power industry to 2023 by end use industries, type of service (maintenance, repair, and overhaul), service provider (original equipment manufacturers, independent service providers, in-house), turbine size (more than 180 MW, 61 – 180 MW, and 1 – 60 MW) and region (North America, Europe, Asia Pacific, and the Rest of the World)

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The future of the gas turbine maintenance, repair, and overhaul (MRO) market, looks good with opportunities in the maintenance service type. 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 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 as follows:
Gas Turbine Market Trends
Gas Turbine Market Forecast Growth Opportunities in the Global Gas Turbine MRO Market by Region

Gas Turbine MRO Market in the Power Industry by End Use Industry [Value ($ Billion) from 2012 to 2023]:
Electrical Power Utility Oil and Gas Others

Gas Turbine MRO Market in the Power Industry by Type of Service [Value ($ Billion) from 2012 to 2023]:
Maintenance Repair Overhaul

Gas Turbine MRO Market in the Power Industry by Type of Service Provider [Value ($ Billion) from 2012 to 2023]:
Original Equipment Manufacturers Independent Service Providers In-House

Gas Turbine MRO Market in the Power Industry by Turbine Size [Value ($ Billion) from 2012 to 2023]:
1 – 60 MW 61 – 180 MW More than 180 MW

Gas Turbine MRO Market in the Power Industry by Region [Value ($ Billion) from 2012 to 2023]:
North America Europe Asia Pacific The Rest of the World
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.

Lucintel 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.

Some of the features of "Gas Turbine MRO Market in the Power Industry Report: Trends, Forecast and Competitive Analysis" include:
Market size estimates: Global gas turbine MRO market in the power industry size estimation in terms of value B shipment.
Trend and forecast analysis: Market trend (2012-2017) and forecast (2018-2023) by segments and region.
Segmentation analysis: Global gas turbine MRO market in the power industry size by various applications such as end use industry, type of service, type of service provider, and turbine capacity in terms of value and volume shipment.
Regional analysis: Global gas turbine MRO market in the power industry market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
Growth opportunities: Analysis on growth opportunities in different applications and regions of gas turbine MRO market in the power industry.
Strategic analysis: This includes M&A, new product development, and competitive landscape of gas turbine MRO market in the power industry. Analysis of competitive intensity of the industry based on Porter's Five Forces model.

This report answers following 10 key questions:
Q.1. How big are the opportunities for the global gas turbine MRO market in the power industry by end use industries, type of service (maintenance, repair, and overhaul), service provider (original equipment manufacturers, independent service providers, in-house), turbine size (more than 180 MW, 61 – 180 MW, and 1 – 60 MW) and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the drivers and challenges of the gas turbine MRO market in the power industry?
Q.5. What are the business risks and threats to the gas turbine MRO market in the power industry?
Q.6. What are emerging trends in this gas turbine MRO market in the power industry and the reasons behind them?
Q.7. What are some changing demands of customers in the gas turbine MRO market in the power industry?
Q.8. What are the new developments in the gas turbine MRO market in the power industry and which companies are leading these developments?
Q.9. Who are the major players in this gas turbine MRO market in the power industry? What strategic initiatives are being taken by key companies for business growth?
Q 10. What M&A activity has occurred in the last five years and what has its impact been on the gas turbine MRO market in the power industry?

Read the full report: https://www.reportlinker.com/p05370216

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