Gas Turbine Services Market Updates

Skyquest Technology's expert advisors continuously track and analyze the latest developments and updates related to gas turbine services market. Our team of analysts stay abreast of all the recent news stories shaping the industry including new product launches by major companies, strategic partnerships, M&As, Patent filings and industry and regulatory developments.

Gas Turbine Services Market News

in Gas Turbine Services Market
  • Chevron Corporation and GE Vernova came together, in 2025, to design natural gas-fired power plants aimed at powering data centers. To address the growing energy requirements of AI-based data centers without overloading the current electrical grid, this initiative is expected to utilize vast natural gas reserves. This alliance is expected to enhance the energy efficiency and dependability of data-intensive operations through a direct supply of power.
  • GE Vernova and ACWA Power subsidiary NOMAC signed a major 21-year servicing contract in June 2024 for the provision of gas turbines for Saudi power plants. The turbines can be run with as much as 50% hydrogen and feature integrated carbon capture technology to lower emissions, enabling Saudi Arabia to achieve its energy transition objectives.
  • Utilization of heavy-duty compressors in the Permian Basin fueled the Natural Gas Services Group's strong profit growth in 2024. To respond to increasing demand, especially in centralized gas lift operations, the company is committed to optimizing the fleet using predictive models, asset utilization, and increasing personnel.
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Global Gas Turbine Services Market size was valued at USD 37.68 Billion in 2023 and is poised to grow from USD 40.92 Billion in 2024 to USD 79.23 Billion by 2032, growing at a CAGR of 8.61% in the forecast period (2025-2032).

Large companies that utilize different strategies to secure their place in the market dominate the global gas turbine services market. To improve efficiency and minimize downtime, companies are making investments in automation and digitalization technologies, including condition monitoring and predictive maintenance. It is possible for service providers to provide bundled solutions and expand their market share through collaboration and cooperation with original equipment manufacturers (OEMs). 'Chevron Corporation', 'GE Vernova', 'EthosEnergy', 'General Electric', 'Kawasaki Heavy Industries', 'MAN Energy Solutions', 'Mitsubishi Heavy Industries', 'MJB International', 'MTU Aero Engines', 'Opra Turbines', 'PROENERGY', 'Siemens', 'Solar Turbines'

Mass industrial activities and power grids need reliable and substantial power generation, hence the high demand for gas turbines. This is particularly the case considering that they have capacities over 200 MW. The turbines are particularly suited for combination with renewable sources of energy such as solar and wind power because combined cycle power plants are efficient and can respond rapidly to changes in power needs.

Predictive Maintenance Coupled with Digitization: Gas turbine maintenance is being transformed by the use of digital technologies such as cloud computing, analytics based on artificial intelligence, and Internet of Things sensors. Predictive maintenance prevents surprise breakdowns by enabling real-time monitoring, early defect detection, and optimization of performance. In decreasing maintenance expenditures, prolonging turbine lifespan, and shortening operational downtime, these technological advances enable gas turbine services to be more reliable and efficient for companies that depend on continuous power generation.

Why Is Asia-Pacific Becoming a Key Player in Gas Turbine Services?

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Global Gas Turbine Services Market
Gas Turbine Services Market

Report ID: SQMIG10B2123

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