MRO market for gas turbines to reach $14 billion within 5 years
Las Colinas, TX - The global market for gas turbine maintenance, repair, and overhaul (MRO) in the power industry is expected to reach US$14.48 billion in 2018, with moderate growth over the next five years.
Las Colinas, TX – The global market for gas turbine maintenance, repair, and overhaul (MRO) in the power industry is expected to reach US$14.48 billion in 2018, with moderate growth over the next five years.
Lucintel, a global management consulting and market research firm, has conducted a competitive analysis on the market for gas turbine MRO services in the power industry and presents its findings in a study named Growth Opportunities in Global Gas Turbine MRO in Power Industry 2013-2018: Trend, Forecast, and Opportunity Analysis.
Lucintel describes how the industry faces challenge to recruit and retain the skilled labourers as gas turbine MRO work requires skill. The price of labour is also increasing, which is a major concern.
MRO activities on gas turbines generate emissions, which pollutes the environment. This adversely affects the growth of the gas turbine MRO market. Plant operations and the MRO activities to keep them running, produce noise and air pollution, which can have harmful effects on the health, safety and productivity of staff.
Older turbines in need of maintenance and repairs
In its study, Lucintel describes how gas turbines installed during 1980-2000 are the major drivers for the increasing maintenance segment, as older turbines require more maintenance and repairs compared to newer ones.
Rapid technological developments such as horizontal drilling and hydraulic fracturing have helped in the exploitation of large shale gas reserves and have reduced natural gas prices. Lucintel analyzes that the MRO service providers should be able to recognize where potentially valuable opportunities exist in the global gas turbine industry.
Marketing strategies tailored to take advantage of these conditions result in improved revenue and profitability. Based on an analysis of industry fundamentals and the competitive environment, the overall gas turbine industry is profitable and is expected to remain so in the future.
This study is intended to provide a competitive benchmarking of the growth opportunities in the gas turbine MRO market. The study provides up-to-date information on the market share, profit margins, capabilities, and strategies of the leaders. The report can helps current suppliers realistically assess their strengths and weaknesses vis-a-vis leading competitors.
The study, published May 1, 2013, costs US$3,900. For details, visit http://www.lucintel.com