(EMAILWIRE.COM, November 08, 2019 )
Market Outlook:-
The gas turbine is a combustion turbine that can convert natural gas and other liquid fuels to mechanical energy or electrical energy. The gas turbine heats a mixture of air and fuel at high temperatures, making the turbine blades to spin. The spinning turbine drives a generator that turns the mechanical energy into electricity.
The gas turbine is used in industries for power generation and mechanical drive applications, the turbines are also used in oil and gas for compressors to inject gas into the wells to force oil up via another bore, or to compress the gas for transportation. And also used in marine for power generation and as an auxiliary power source in aircraft.
Market Dynamics:-
Growing number of gas turbine installations, as gas turbines have less operating cost as compare to other low-carbon emission alternatives like nuclear and renewable energy, this has driven the market for gas turbine MRO market.
Preventive-maintenance and predictive-maintenance help in reducing the cost of maintenance for a gas turbine, this is the primary reason that boosting gas turbine MRO market globally.
Gas turbines manufacturers are creating highly durable turbines that require less number/ frequency of service which would be a significant restraint for global MRO market. The high maintenance cost for gas turbines is the significant restraint for gas turbine MRO market.
Market Segmentation:-
By service type
Gas turbine systems have two life cycle periods they are within the first six months of operation and after ten years of operations. During quarterly inspection of the gas turbine, the maintenance technician collects turbine system performance data on variables such as vibration, pressures, temperatures, and outputs. The original equipment manufacturer (OEM) then analyzes the data and issues a serviceability report.
The maintenance needed for the compressor is that done once in every 32,000 hours (about four years), as part of a total shop overhaul and rebuilding of the entire turbine.
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Geographical Trends:-
Based on geography the market is segmented into North America, South America, Europe, Asia Pacific and Rest of the world.
The US market is experiencing growth for the establishment of small-scale turbines, with an increased focus on efficiency. By 2038, the natural gas-fired generation facilities are expected to grow by 348,000 MW of gas-fired capacity to the US grid.
Asia Pacific region has shown considerable growth in gas turbine MRO market in recent years. According to the International Energy Agency (IEA), the developing areas of Asia accounted for two-thirds of the global energy growth in 2017.
Competitive Landscape:-
Some major players in the market includes General Electric Co., Fluor Corporation, Siemens AG, Mitsubishi Heavy Industries, Ltd, Bechtel Corporation, Wood Group GTS among many others.
In October 2017, GE Power has received a contract of USD 141 million from Saudi Electricity Company (SEC) to provide maintenance, parts, and repairs services for eight GE 7F.05 gas turbines installed at Riyadh Power Plant 12 (PP12).
In August 2017, Siemens has expanded an existing service agreement with KAR Group in Iraq to provide comprehensive operations and maintenance (O&M) for two newly added SSC5-2000E power plant units at the Khormala plant in the Kurdistan region.
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