Asia-Pacific Gas Turbine MRO Market in Power Sector Market Size

APAC Gas Turbine MRO Market Analysis

The Asia-Pacific gas turbine MRO market in power sector is expected to register a CAGR of over 3% during the forecast period of 2020-2025. Factors, such as the aging fleet of gas turbines, need to maintain operational efficiency, and stringent emissions norms from power plants, are expected to be major drivers for the market. The rising demand for cleaner energy from gas turbines over, concerns of the environmental impact of energy generation from coal-fired plants, is expected to boost the Asia-Pacific gas turbine MRO market. However, increasing shift toward renewable energies, such as solar and wind, for power generation and increased durability of modern gas turbines have somewhat hampered the growth of the market.

• The maintenance sector is expected to dominate the market during the forecast period, owing to various factors, such as the growth of the aviation industry in the region, increase in power generation from gas-based plants due to rising concerns over greenhouse gas emissions, maintaining the efficiency of turbines, and stringent emissions norms on power plants.
• The increasing demand for electrical energy to sustain global development requires consistent heavy investments in power supply generation. This has helped the growth of the market for gas turbines MRO significantly in recent, andit is expected to do so during the forecast period.
• China is expected to dominate the market growth, owing to the factors like economic growth, growth of the aviation industry, increase in the number of gas-based power generation plants, and the aging gas-based power plants.