23 Jul, 2026
According to Straits Research, the global gas turbine MRO market in the power sector valued at $15.56 billion in 2025, is projected to grow from $16.1 billion in 2026 to $21.14 billion by 2034 at a CAGR of 3.46% during the forecast period 2026–2034.
In the power industry, a gas turbine converts the kinetic energy of gas into mechanical energy, which is then converted into electrical energy. The gas turbine is the backbone of the power generation industry. Although the fundamental operation of a gas turbine is relatively simple, its components must withstand high temperatures and operate with extremely precise tolerances. The turbine components are manufactured with highly specialized materials and techniques and must be meticulously maintained to preserve their efficiency and dependability. Multiple rotating turbine components necessitate continuous maintenance services.
Recently, countries have transitioned from coal to natural gas as their primary energy source, increasing the demand for natural gas to produce cleaner energy. Numerous nations, including the United States, China, and the United Kingdom, switched from coal to natural gas to reduce emissions.
Natural gas's enormous availability and environmental benefits have increased its demand in the power generation sector. The conversion of coal-based power facilities to natural gas-based power generation is increasing, resulting in the use of gas turbines for power generation. This indicates that natural gas is anticipated to play a pivotal role. As a result, experiencing a substantial increase in demand would lead to an increase in power generation, thereby increasing the demand for MRO services for gas turbines.
The substantial increase in global energy demand over the past few years has led to a rise in gas turbine power facilities investment, which is crucial for the market's overall expansion. Companies and administrators of power plants perform routine maintenance services such as periodic inspections, replacement of parts, diagnosis, and renovations to enhance operational performance and ensure the facility's long-term and stable operation.
Diverse power utilities and independent power producers enter long-term contracts for plant-related services. This is expected to stimulate market expansion. In June 2021, Mitsubishi Power, a division of the Mitsubishi Heavy Industries (MHI) Group, inked a 16-year long-term service agreement (LTSA) for the MRO services of 6 M701F gas turbines at the El Atf Power Station, Sidi Krir Power Station, and Cairo North GTCC facilities in Egypt. This will likely generate profitable market opportunities soon.
Asia-Pacific emerged as the largest regional market for gas turbine MRO market in the power sector in 2024, holding a 23.01% share, and is expected to expand substantially in the global power sector during the forecast period.The rapid expansion of the Asia-Pacific region is fueling the demand for electricity throughout the region. Consequently, the number of new gas turbine installations has increased exponentially in recent years. From 2018 to 2019, the electricity generation from natural gas increased by approximately 20 TWh. In 2021, Japan was one of the largest natural gas importers; 20% of the nation's electricity was generated by natural gas. Japan also operates numerous gas-fired power plants, routinely maintained to reduce the likelihood of blackouts.
North America is one of the largest gas turbine MRO services markets, with the United States, Canada, and Mexico contributing most of the demand. Growing investments in new large gas-fired combined cycle power generation due to the region's rising electricity demand is one of the essential factors driving this market. In addition, North America remains the largest market for funding and commercializing innovative technologies and has already attracted many energy-focused technology companies.
In Europe, the most significant transition in the electricity system over the past few years has been from coal-fired to natural gas-fired generation. Austria, Denmark, France, the United Kingdom, and five other countries in the region have announced or passed legislation to replace coal in their energy mix. However, the Balkans, Turkey, and the majority of Eastern European nations continue to invest in coal-fired power facilities. These developments fuel the demand for gas turbine MRO services in power plants.
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