Gas turbines play a vital role in electricity generation and are designed to operate continuously for prolonged periods without any scheduled outages. However, they require periodic maintenance, repair, and overhaul (MRO) interventions to sustain optimal performance levels. Advancements in materials and improved designs have enabled greater longevity of gas turbines used in power plants. Original equipment manufacturers (OEMs) now certify gas turbines for operation periods exceeding 50,000 hours before requiring heavy maintenance. This has led plant owners and operators to extend overhaul cycles and maximize asset utilization. However, deferring necessary MRO activities could compromise operational safety and efficiency in the long-run.
The global Gas Turbine MRO Market in the Power Sector is estimated to be valued at US$ 15.06 Mn in 2024 and is expected to exhibit a CAGR of 6.1% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increased duration of operation cycles before overhaul has emerged as a key trend in the gas turbine MRO market for power sector. Plant owners seek to optimize costs by reducing downtime and extending runs between maintenance outages. This has prompted MRO service providers to devise advanced condition monitoring and predictive maintenance solutions. Technologies such as thermal imaging, vibration monitoring, oils and particulate analysis help operators identify potential issues early on. This allows scheduled mitigation during planned outage windows, avoiding unexpected faults and unplanned downtime. Such proactive servicing aligns with the goal of maximizing asset lifespan without compromising safety.
Segment Analysis
The global Gas Turbine MRO Market In The Power Sector is dominated by the overhaul and repair services segment. This segment accounts for over 60% of the market share as gas turbines require regular maintenance, repair, and overhaul services to ensure optimal performance. The overhaul and repair services help identify potential issues, replace defective components, and restore turbine performance as per the original specifications.
Key Takeaways
The Global Gas Turbine MRO Market Demand In The Power Sector is expected to witness high over the forecast period owing to the increasing need for repair, maintenance, and overhaul of aging gas turbines used in power plants. The global Gas Turbine MRO Market in the Power Sector is estimated to be valued at US$ 15.06 Mn in 2024 and is expected to exhibit a CAGR of 6.1% over the forecast period 2024 to 2031.
Regional analysis: North America accounts for the largest share of the gas turbine MRO market in the power sector currently. This is primarily due to the presence of aging gas turbine fleet in the region. Several gas turbines installed decades ago are due for repair, maintenance, and overhaul services.
Key players: Key players operating in the gas turbine MRO market in the power sector are Nobel Biocare Services AG, DIO Corporation, Ivoclar Vivadent AG, GC Dental, Modern Dental Group Limited, COLTENE Group, SHOFU Dental GmbH, VITA Zahnfabrik, Holmes Dental Co., Lasak, Institut Straumann AG, Derby Dental, and Anthogyr SAS.
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