Please Wait.....
Report
Europe Gas Turbine Mro Market In The Power Sector - Growth, Trends, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 100 Pages I Mordor Intelligence
The European Gas Turbine MRO Market in the power sector is expected to register a CAGR of over 2% during the forecast period.
COVID-19 moderately impacted the market in 2020. Presently, the market has now reached pre-pandemic levels.
Key Highlights
Over the long term, aging installations of gas turbines, the need to maintain operational efficiency, and stringent emissions norms from power plants are expected to be major drivers for the market.
However, increasing shifts toward renewable energies, such as solar and wind, for power generation have somewhat hampered the market's growth.
The increasing demand for electrical energy to sustain global development requires consistent heavy investments in power supply generation. With investment and upcoming power projects, the market is expected to witness growth opportunities during the forthcoming years.
The United Kingdom is expected to dominate the market. An increase in the number of gas-based power generation plants, and aging gas-based power plants, are expected to drive the market in the forecast period.
Europe Gas Turbine MRO Market Trends
Maintenance Sector to Grow Significantly
The increase in natural gas production has shifted the global focus on developing gas-fired power plants. The greenhouse gases emitted from gas-fired power plants are comparatively lower than that emitted from coal-fired power plants. Moreover, the demand for peak power is increasing globally, which can be most effectively met by gas-based power generation.
The increase in the number of gas-based power generation plants leads to growth in the gas turbine MRO market; while a gas turbine might need an engine repair or replacement in 4-5 years, the maintenance starts soon after installation.
The most recent wave of additions, gas-based power plants, peaked in 2002, with most added between 1998 and 2008. Thus, the equipment installed in approximately all the gas-fired power plants across the globe is expected to require significant MRO services during the forecast period.
Furthermore, the electricity demand is expected to increase in the future, fueled by the electrification of automobiles. Several countries have adopted targets of phasing out the sale of passenger cars running on fossils. Among the first to set targets are Costa Rica and Norway, with 2021 and 2025 defined as targets, respectively.
Hence, factors like the increased number of gas turbines, rise in electric vehicles infrastructure, and increased concerns over greenhouse gas emissions from coal-based power plants are expected to increase demand for maintenance in the power sector, which, in turn, is expected to drive the gas turbine maintenance market during the forecast period.
United Kingdom Likely to Dominate the Market
The United Kingdom is expected to dominate the market in the forecast period due to an increase in energy demand, and natural gas usage in the region.
There has been a major increase in the use of gas for power generation in the region, aiming at reducing greenhouse gas emissions. In 2021 the electricity sector's grid supply for the United Kingdom came from 37% fossil-fueled power (almost all from natural gas), 43% percent from renewable and hydropower, and 20% from nuclear, coal, and others.? As of 2021, total power generation from natural gas in the United Kingdom was over 124.2 TWh.
With the rising pollution concerns across the world due to industrialization, the shift towards clean energy generation from gas turbines has gained considerable momentum.
The Energy and Climate Intelligence Unit calculates that GBP 3.4 billion worth of capacity market subsidies has been promised to power station operators. Many of them are gas-fired operators. This development is likely to result in more capacity expansion and create a demand for gas turbine MRO services in the future.
Hence with existing power projects and upcoming investment in the power sector, the United Kingdom market is expected to increase demand for MRO activities for continous supply of power throughout the forecast period.T
Europe Gas Turbine MRO Market Competitor Analysis
The European Gas Turbine MRO Market in the power sector is moderately consolidated, with major players holding a large market share. Some of the major companies (not in particular order) are General Electric, Siemens AG, Mitsubishi Heavy Industries Ltd, and John Wood Group PLC.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, till 2027
4.3 Recent Trends and Developments
4.4 Market Dynamics
4.4.1 Drivers
4.4.2 Restraints
4.5 Supply Chain Analysis
4.6 Porter's Five Forces Analysis
4.6.1 Bargaining Power of Suppliers
4.6.2 Bargaining Power of Consumers
4.6.3 Threat of New Entrants
4.6.4 Threat of Substitutes Products and Services
4.6.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Service Type
5.1.1 Maintenance
5.1.2 Repair
5.1.3 Overhaul
5.2 Provider Type
5.2.1 OEMs
5.2.2 Independent Service Providers
5.2.3 In-house
5.3 Geography
5.3.1 United Kingdom
5.3.2 Germany
5.3.3 Spain
5.3.4 Rest of Europe
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 General Electric Company
6.3.2 Mitsubishi Heavy Industries Ltd
6.3.3 Bechtel Corporation
6.3.4 Flour Corporation
6.3.5 John Wood Group PLC
6.3.6 Siemens AG
6.3.7 Sulzer AG
6.3.8 Babcock & Wilcox Enterprises Inc.
6.3.9 Weg SA
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security