Gas Turbine Services Market - Global Industry Size, Share, Trends, Opportunity, and Forecast Segmented By Turbine Type, By Turbine Capacity, By Service Type, By Sales Channel, By End-use, By Region & Competition, 2021-2031F

Description

The Global Gas Turbine Services Market is projected to expand from USD 27.73 Billion in 2025 to USD 41.45 Billion by 2031, reflecting a compound annual growth rate (CAGR) of 6.93%. This market encompasses the maintenance, repair, and overhaul (MRO) of heavy-duty and aeroderivative turbines used across the aviation, oil and gas, and power generation sectors. Growth is largely fueled by the need to maintain grid stability amidst intermittent renewable integration, adhere to rigorous emission regulations, and prolong the service life of aging infrastructure. This reliance on operational continuity is supported by recent industry findings; according to the Energy Institute, global natural gas-fired electricity generation rose by 2.5% in the year preceding 2025, highlighting the continued necessity of gas turbine assets and the corresponding need for ongoing support.

Market Overview
Forecast Period	2027-2031
Market Size 2025	USD 27.73 Billion
Market Size 2031	USD 41.45 Billion
CAGR 2026-2031	6.93%
Fastest Growing Segment	OEM
Largest Market	Asia Pacific

However, the sector faces substantial headwinds due to global decarbonization mandates and the energy transition. The rapid migration toward renewable energy sources introduces long-term investment uncertainty regarding fossil fuel assets, potentially causing operators to delay costly service overhauls or hasten the retirement of older units to meet net-zero sustainability objectives.

Market Driver

Increasing global electricity consumption serves as a primary engine for the Gas Turbine Services Market. As urbanization and industrial activities surge, the escalating demand for dependable power forces existing fleets to run at higher capacities while requiring the installation of new units. This increased utilization leads to shorter maintenance intervals and a greater need for parts replacement to avoid unplanned downtime. The continued dependence on gas-fired power is clear in established markets; according to the U.S. Energy Information Administration, natural gas was projected to account for 40% of U.S. electricity generation in 2025, underscoring its vital role in baseload and peaking capacity. This momentum is further confirmed by procurement data; according to Turbomachinery Magazine, April 2025, in the 'Gas Turbine Market Report', global orders for gas turbines hit nearly 500 units in 2024, representing the highest activity level since 2002.

The modernization of aging gas turbine fleets represents a second crucial driver for market expansion. As many turbines near the end of their original service lives, operators are prioritizing life-extension initiatives over expensive new installations. This shift drives the need for extensive refurbishment, performance upgrades, and digital monitoring solutions to uphold efficiency and meet tighter emission rules. The financial significance of this trend is evident in OEM results; according to GE Vernova, January 2025, in the 'Fourth Quarter and Full Year 2024 Financial Results', the company saw a 10% organic increase in Power services orders, demonstrating sustained utility investment in preserving the integrity of existing infrastructure.

Market Challenge

The rapid transition toward renewable energy and the strict enforcement of decarbonization goals pose a significant obstacle to the gas turbine services sector. As industrial users and utility operators focus on achieving net-zero targets, the long-term future of fossil fuel assets becomes increasingly doubtful. This uncertainty deters capital spending on major overhauls and long-term service agreements, as stakeholders seek to limit expenditure on infrastructure that may be retired early. Consequently, service providers encounter diminished demand for extensive life-extension projects and heavy maintenance cycles.

This movement of capital away from traditional thermal assets is reflected in recent global investment patterns. According to the International Energy Agency, global investment in clean energy technologies hit USD 2 trillion in 2024, doubling the amount invested in fossil fuels. This disparity highlights a structural shift in resource allocation, resulting in reduced funding for the maintenance and modernization of current gas turbine fleets. As financial priorities evolve, the decline in high-value service contracts restricts the overall revenue potential of the market.

Market Trends

A key trend involves retrofitting gas turbines for compatibility with hydrogen and green fuels, allowing operators to decarbonize assets without retiring essential infrastructure. This approach extends beyond simple life extension by modifying combustion systems to manage the thermal demands and higher flame speeds of carbon-free fuels. Advancements in engineering are enabling fleets to switch from natural gas to high-hydrogen blends, meeting net-zero requirements while ensuring reliability. The technical feasibility of this was underscored when, according to Power Engineering, January 2025, in the article 'GE Vernova is closer to commercializing its 100% hydrogen-fueled dry low NOx combustor', the company validated a system capable of running on 100% hydrogen with nitrogen oxide emissions kept below 25 parts per million (ppm).

Simultaneously, the industry is moving decisively toward performance-based long-term service agreements (LTSAs) that value outcome certainty over transactional maintenance. As renewable penetration increases grid complexity, utilities are transferring risk to service providers through contracts guaranteeing specific availability and efficiency levels. This structural evolution toward recurring, high-value service revenue is reflected in financial reports; according to Siemens Energy, May 2025, in the 'Earnings Release Q2 FY 2025', the Gas Services division saw quarterly revenue rise by 18.7% to €3.16 billion, a growth attributed primarily to the strength of its service business.

Key Market Players

Siemens AG
Mitsubishi Power, Ltd.
Kawasaki Heavy Industries, Ltd.
Solar Turbines Inc.
ATLA S.r.l.
Bharat Heavy Electricals Ltd.
EthosEnergy Group
Ansaldo Energia S.p.A.
General Electric Company
Mubadala Investment Company

Report Scope

In this report, the Global Gas Turbine Services Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Gas Turbine Services Market, By Turbine Type

Heavy Duty
Industrial
Aero-derivative

Gas Turbine Services Market, By Turbine Capacity

More than 200 MW
Less than 100 MW
100 to 200 MW

Gas Turbine Services Market, By Service Type

Maintenance & Repair
Overhaul
Spare parts supply

Gas Turbine Services Market, By Sales Channel

OEM
Aftermarket

Gas Turbine Services Market, By End-use

Power Generation
Oil & Gas
Others

Gas Turbine Services Market, By Region

North America
- United States
- Canada
- Mexico
Europe
- France
- United Kingdom
- Italy
- Germany
- Spain
Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
South America
- Brazil
- Argentina
- Colombia
Middle East & Africa
- South Africa
- Saudi Arabia
- UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Gas Turbine Services Market.

Available Customizations:

Global Gas Turbine Services Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

1. Product Overview

1.1. Market Definition
1.2. Scope of the Market
- 1.2.1. Markets Covered
- 1.2.2. Years Considered for Study
- 1.2.3. Key Market Segmentations

2. Research Methodology

2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations

3. Executive Summary

3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends

4. Voice of Customer

5. Global Gas Turbine Services Market Outlook

5.1. Market Size & Forecast
- 5.1.1. By Value
5.2. Market Share & Forecast
- 5.2.1. By Turbine Type (Heavy Duty, Industrial, Aero-derivative)
- 5.2.2. By Turbine Capacity (More than 200 MW, Less than 100 MW, 100 to 200 MW)
- 5.2.3. By Service Type (Maintenance & Repair, Overhaul, Spare parts supply)
- 5.2.4. By Sales Channel (OEM, Aftermarket)
- 5.2.5. By End-use (Power Generation, Oil & Gas, Others)
- 5.2.6. By Region
- 5.2.7. By Company (2025)
5.3. Market Map

6. North America Gas Turbine Services Market Outlook

6.1. Market Size & Forecast
- 6.1.1. By Value
6.2. Market Share & Forecast
- 6.2.1. By Turbine Type
- 6.2.2. By Turbine Capacity
- 6.2.3. By Service Type
- 6.2.4. By Sales Channel
- 6.2.5. By End-use
- 6.2.6. By Country
6.3. North America: Country Analysis
- 6.3.1. United States Gas Turbine Services Market Outlook
  - 6.3.1.1. Market Size & Forecast
    - 6.3.1.1.1. By Value
  - 6.3.1.2. Market Share & Forecast
    - 6.3.1.2.1. By Turbine Type
    - 6.3.1.2.2. By Turbine Capacity
    - 6.3.1.2.3. By Service Type
    - 6.3.1.2.4. By Sales Channel
    - 6.3.1.2.5. By End-use
- 6.3.2. Canada Gas Turbine Services Market Outlook
  - 6.3.2.1. Market Size & Forecast
    - 6.3.2.1.1. By Value
  - 6.3.2.2. Market Share & Forecast
    - 6.3.2.2.1. By Turbine Type
    - 6.3.2.2.2. By Turbine Capacity
    - 6.3.2.2.3. By Service Type
    - 6.3.2.2.4. By Sales Channel
    - 6.3.2.2.5. By End-use
- 6.3.3. Mexico Gas Turbine Services Market Outlook
  - 6.3.3.1. Market Size & Forecast
    - 6.3.3.1.1. By Value
  - 6.3.3.2. Market Share & Forecast
    - 6.3.3.2.1. By Turbine Type
    - 6.3.3.2.2. By Turbine Capacity
    - 6.3.3.2.3. By Service Type
    - 6.3.3.2.4. By Sales Channel
    - 6.3.3.2.5. By End-use

7. Europe Gas Turbine Services Market Outlook

7.1. Market Size & Forecast
- 7.1.1. By Value
7.2. Market Share & Forecast
- 7.2.1. By Turbine Type
- 7.2.2. By Turbine Capacity
- 7.2.3. By Service Type
- 7.2.4. By Sales Channel
- 7.2.5. By End-use
- 7.2.6. By Country
7.3. Europe: Country Analysis
- 7.3.1. Germany Gas Turbine Services Market Outlook
  - 7.3.1.1. Market Size & Forecast
    - 7.3.1.1.1. By Value
  - 7.3.1.2. Market Share & Forecast
    - 7.3.1.2.1. By Turbine Type
    - 7.3.1.2.2. By Turbine Capacity
    - 7.3.1.2.3. By Service Type
    - 7.3.1.2.4. By Sales Channel
    - 7.3.1.2.5. By End-use
- 7.3.2. France Gas Turbine Services Market Outlook
  - 7.3.2.1. Market Size & Forecast
    - 7.3.2.1.1. By Value
  - 7.3.2.2. Market Share & Forecast
    - 7.3.2.2.1. By Turbine Type
    - 7.3.2.2.2. By Turbine Capacity
    - 7.3.2.2.3. By Service Type
    - 7.3.2.2.4. By Sales Channel
    - 7.3.2.2.5. By End-use
- 7.3.3. United Kingdom Gas Turbine Services Market Outlook
  - 7.3.3.1. Market Size & Forecast
    - 7.3.3.1.1. By Value
  - 7.3.3.2. Market Share & Forecast
    - 7.3.3.2.1. By Turbine Type
    - 7.3.3.2.2. By Turbine Capacity
    - 7.3.3.2.3. By Service Type
    - 7.3.3.2.4. By Sales Channel
    - 7.3.3.2.5. By End-use
- 7.3.4. Italy Gas Turbine Services Market Outlook
  - 7.3.4.1. Market Size & Forecast
    - 7.3.4.1.1. By Value
  - 7.3.4.2. Market Share & Forecast
    - 7.3.4.2.1. By Turbine Type
    - 7.3.4.2.2. By Turbine Capacity
    - 7.3.4.2.3. By Service Type
    - 7.3.4.2.4. By Sales Channel
    - 7.3.4.2.5. By End-use
- 7.3.5. Spain Gas Turbine Services Market Outlook
  - 7.3.5.1. Market Size & Forecast
    - 7.3.5.1.1. By Value
  - 7.3.5.2. Market Share & Forecast
    - 7.3.5.2.1. By Turbine Type
    - 7.3.5.2.2. By Turbine Capacity
    - 7.3.5.2.3. By Service Type
    - 7.3.5.2.4. By Sales Channel
    - 7.3.5.2.5. By End-use

8. Asia Pacific Gas Turbine Services Market Outlook

8.1. Market Size & Forecast
- 8.1.1. By Value
8.2. Market Share & Forecast
- 8.2.1. By Turbine Type
- 8.2.2. By Turbine Capacity
- 8.2.3. By Service Type
- 8.2.4. By Sales Channel
- 8.2.5. By End-use
- 8.2.6. By Country
8.3. Asia Pacific: Country Analysis
- 8.3.1. China Gas Turbine Services Market Outlook
  - 8.3.1.1. Market Size & Forecast
    - 8.3.1.1.1. By Value
  - 8.3.1.2. Market Share & Forecast
    - 8.3.1.2.1. By Turbine Type
    - 8.3.1.2.2. By Turbine Capacity
    - 8.3.1.2.3. By Service Type
    - 8.3.1.2.4. By Sales Channel
    - 8.3.1.2.5. By End-use
- 8.3.2. India Gas Turbine Services Market Outlook
  - 8.3.2.1. Market Size & Forecast
    - 8.3.2.1.1. By Value
  - 8.3.2.2. Market Share & Forecast
    - 8.3.2.2.1. By Turbine Type
    - 8.3.2.2.2. By Turbine Capacity
    - 8.3.2.2.3. By Service Type
    - 8.3.2.2.4. By Sales Channel
    - 8.3.2.2.5. By End-use
- 8.3.3. Japan Gas Turbine Services Market Outlook
  - 8.3.3.1. Market Size & Forecast
    - 8.3.3.1.1. By Value
  - 8.3.3.2. Market Share & Forecast
    - 8.3.3.2.1. By Turbine Type
    - 8.3.3.2.2. By Turbine Capacity
    - 8.3.3.2.3. By Service Type
    - 8.3.3.2.4. By Sales Channel
    - 8.3.3.2.5. By End-use
- 8.3.4. South Korea Gas Turbine Services Market Outlook
  - 8.3.4.1. Market Size & Forecast
    - 8.3.4.1.1. By Value
  - 8.3.4.2. Market Share & Forecast
    - 8.3.4.2.1. By Turbine Type
    - 8.3.4.2.2. By Turbine Capacity
    - 8.3.4.2.3. By Service Type
    - 8.3.4.2.4. By Sales Channel
    - 8.3.4.2.5. By End-use
- 8.3.5. Australia Gas Turbine Services Market Outlook
  - 8.3.5.1. Market Size & Forecast
    - 8.3.5.1.1. By Value
  - 8.3.5.2. Market Share & Forecast
    - 8.3.5.2.1. By Turbine Type
    - 8.3.5.2.2. By Turbine Capacity
    - 8.3.5.2.3. By Service Type
    - 8.3.5.2.4. By Sales Channel
    - 8.3.5.2.5. By End-use

9. Middle East & Africa Gas Turbine Services Market Outlook

9.1. Market Size & Forecast
- 9.1.1. By Value
9.2. Market Share & Forecast
- 9.2.1. By Turbine Type
- 9.2.2. By Turbine Capacity
- 9.2.3. By Service Type
- 9.2.4. By Sales Channel
- 9.2.5. By End-use
- 9.2.6. By Country
9.3. Middle East & Africa: Country Analysis
- 9.3.1. Saudi Arabia Gas Turbine Services Market Outlook
  - 9.3.1.1. Market Size & Forecast
    - 9.3.1.1.1. By Value
  - 9.3.1.2. Market Share & Forecast
    - 9.3.1.2.1. By Turbine Type
    - 9.3.1.2.2. By Turbine Capacity
    - 9.3.1.2.3. By Service Type
    - 9.3.1.2.4. By Sales Channel
    - 9.3.1.2.5. By End-use
- 9.3.2. UAE Gas Turbine Services Market Outlook
  - 9.3.2.1. Market Size & Forecast
    - 9.3.2.1.1. By Value
  - 9.3.2.2. Market Share & Forecast
    - 9.3.2.2.1. By Turbine Type
    - 9.3.2.2.2. By Turbine Capacity
    - 9.3.2.2.3. By Service Type
    - 9.3.2.2.4. By Sales Channel
    - 9.3.2.2.5. By End-use
- 9.3.3. South Africa Gas Turbine Services Market Outlook
  - 9.3.3.1. Market Size & Forecast
    - 9.3.3.1.1. By Value
  - 9.3.3.2. Market Share & Forecast
    - 9.3.3.2.1. By Turbine Type
    - 9.3.3.2.2. By Turbine Capacity
    - 9.3.3.2.3. By Service Type
    - 9.3.3.2.4. By Sales Channel
    - 9.3.3.2.5. By End-use

10. South America Gas Turbine Services Market Outlook

10.1. Market Size & Forecast
- 10.1.1. By Value
10.2. Market Share & Forecast
- 10.2.1. By Turbine Type
- 10.2.2. By Turbine Capacity
- 10.2.3. By Service Type
- 10.2.4. By Sales Channel
- 10.2.5. By End-use
- 10.2.6. By Country
10.3. South America: Country Analysis
- 10.3.1. Brazil Gas Turbine Services Market Outlook
  - 10.3.1.1. Market Size & Forecast
    - 10.3.1.1.1. By Value
  - 10.3.1.2. Market Share & Forecast
    - 10.3.1.2.1. By Turbine Type
    - 10.3.1.2.2. By Turbine Capacity
    - 10.3.1.2.3. By Service Type
    - 10.3.1.2.4. By Sales Channel
    - 10.3.1.2.5. By End-use
- 10.3.2. Colombia Gas Turbine Services Market Outlook
  - 10.3.2.1. Market Size & Forecast
    - 10.3.2.1.1. By Value
  - 10.3.2.2. Market Share & Forecast
    - 10.3.2.2.1. By Turbine Type
    - 10.3.2.2.2. By Turbine Capacity
    - 10.3.2.2.3. By Service Type
    - 10.3.2.2.4. By Sales Channel
    - 10.3.2.2.5. By End-use
- 10.3.3. Argentina Gas Turbine Services Market Outlook
  - 10.3.3.1. Market Size & Forecast
    - 10.3.3.1.1. By Value
  - 10.3.3.2. Market Share & Forecast
    - 10.3.3.2.1. By Turbine Type
    - 10.3.3.2.2. By Turbine Capacity
    - 10.3.3.2.3. By Service Type
    - 10.3.3.2.4. By Sales Channel
    - 10.3.3.2.5. By End-use

11. Market Dynamics

11.1. Drivers
11.2. Challenges

12. Market Trends & Developments

12.1. Merger & Acquisition (If Any)
12.2. Product Launches (If Any)
12.3. Recent Developments

13. Global Gas Turbine Services Market: SWOT Analysis

14. Porter's Five Forces Analysis

14.1. Competition in the Industry
14.2. Potential of New Entrants
14.3. Power of Suppliers
14.4. Power of Customers
14.5. Threat of Substitute Products

15. Competitive Landscape

15.1. Siemens AG
- 15.1.1. Business Overview
- 15.1.2. Products & Services
- 15.1.3. Recent Developments
- 15.1.4. Key Personnel
- 15.1.5. SWOT Analysis
15.2. Mitsubishi Power, Ltd.
15.3. Kawasaki Heavy Industries, Ltd.
15.4. Solar Turbines Inc.
15.5. ATLA S.r.l.
15.6. Bharat Heavy Electricals Ltd.
15.7. EthosEnergy Group
15.8. Ansaldo Energia S.p.A.
15.9. General Electric Company
15.10. Mubadala Investment Company