Europe Gas Turbine MRO Market in the Power Sector Market Size (2024 - 2029)

Europe Gas Turbine MRO Market Analysis

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.

• 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 Industry Segmentation

In the power industry, a gas turbine is used to transform the kinetic energy of gas into mechanical energy, which is then converted into electrical power. The turbine's components are made with highly specialized parts and manufacturing techniques and must be carefully maintained to maintain efficiency and dependability. The turbine requires ongoing maintenance because it contains numerous rotating parts. Turbine blades are vulnerable to micro pitting, abrasive wear, foreign object debris damage, surface corrosion, and fretting corrosion because they are constantly exposed to steam or gas. Gas turbine Maintenance, Repair, and Overhauls (MRO) are necessary for the efficient operation of the turbines and the power plants at frequent intervals.

The Europe Gas Turbine MRO Market in the power sector is segmented by service type, provider type, and geography. By service type, the market is segmented into maintenance, repair, and overhaul. By provider type, the market is segmented by OEMs, independent service providers, and in-house. The report also covers the market size and forecasts for the gas turbine MRO market in the power sector across major countries. For each segment, the market sizing and forecasts have been done based on revenue (USD Billion).