Thumbnail

Europe Gas Turbine MRO Market - Growth trends and forecast (2020 - 2025)

Looking to buy the report?

The European gas turbine MRO market has been estimated at USD XX billion in 2015 and is projected to reach USD XX billion by 2020, at a CAGR of XX% during the outlook period 2015-2020.

Gas turbines are one of the most widely used power generating technologies. Today, gas turbines find application in power generation, aircraft and marine propulsion systems, oil & gas industry, among others. Gas turbines are a type of internal combustion (IC) engine, in which an air-fuel mixture produces hot gases that spin a turbine to produce power. Gas turbines can utilize a variety of fuels, including natural gas, fuel oils and synthetic fuels. Combustion occurs continuously in gas turbines, as opposed to reciprocating IC engines, where combustion occurs intermittently

Europe is the second largest market for gas turbine MRO market. A good demand from the aviation and power generation industries accounts for the European market. Europe’s growing interest in cleaner and safer energy generation and a growing voice against nuclear power has resulted in plans to shut down nuclear power plants in major economies here. This move will promote gas fired power plants in the region, thereby benefiting the gas turbine MRO market.

Factors like aging fleet of gas turbines, stringent government regulations on emission control, reduction of life cycle costs and the need to improve reliability, durability, and profitability along with an increase in operational performance are driving the gas turbine MRO (Maintenance, Repair and Overhaul) market. On the other hand, factors such as lack of retention of skilled labor, the companies preferring an in-house maintenance teams could act as a roadblock for the growth of the market.

The market has been geographically segmented into countries such as Germany, UK, Italy Sweden, Norway, Denmark and Others. Germany is expected to grow at a highest rate closely followed by UK, Italy and Sweden in that order.

The market has also been segmented by the service type viz. Maintenance, Repair and Overhaul and the market size and forecast for each of the service types has been analyzed. The application of the gas turbines in military aircrafts, civil aviation, power generation and mechanical drives has also been discussed. The major players operating in the segment are General Electric, Siemens Ag, Sulzer, Zorya – Mashproekt, Mtu Aero Engines Ag, Man Diesel and Turbo, Solar Turbines, Rolls-Royce Holdings Plc., Pratt & Whitney, Lockheed Martin, Honeywell, Mitsubishi Heavy Industries Ltd, ABB, Emerson. 

Looking to buy the report?

Need a report that reflects how COVID-19 has impacted this market and its growth?

Our clients include:

prev-arrow
next-arrow

Looking to Customize Report?

Please Enter Email ID

Please Enter Message