GAS TURBINE MRO MARKET ANALYSIS

Regional Analysis

• North America: U.S. and Canada
• Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
• Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
• Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
• Middle East: GCC Countries, Israel, and Rest of Middle East
• Africa: South Africa, North Africa, and Central Africa

Global Gas Turbine MRO Market: Regional Analysis

• Based on region, the global Gas Turbine MRO Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to dominate the global gas turbine MRO market, and this is attributed to the increasing investments in new large gas-fired power plants, combined with cycle power generation, owing to the upsurge in electricity demand in the region. Additionally, North America remains the largest market for funding and commercializing advanced and innovative technologies and already attracts many technology firms engaged in the energy market.
• At the same time, Europe is expected to experience the fastest growth over the forecast period, and this is attributed to the large shift from coal-fired power generation to natural gas-fired power generation. Countries, such as Denmark, Austria, France, the U.K., and five other countries have announced laws to replace coal in their energy mix. For instance, in  July 2020, Ansaldo  Energia   is an Italian power engineering company was  awarded an EPC (Engineering, Procurement, and Construction) and LTSA (Long Term Service Agreement) contracts for the design, supply, installation, and servicing of an open-cycle power plant with an installed power of 300 MW in Marbach, Baden-Württemberg (Germany). The plant will be operational by October 2022.