Gas Turbine Services Market Report 2026

The gas turbine services market size has grown rapidly in recent years. It will grow from $31.89 billion in 2025 to $35.1 billion in 2026 at a compound annual growth rate (CAGR) of 10.1%. The growth in the historic period can be attributed to expansion of gas based power generation, growth of oil and gas production activities, historical reliance on scheduled maintenance, increasing installed base of gas turbines, demand for reliable power generation.

The gas turbine services market size is expected to see strong growth in the next few years. It will grow to $50.89 billion in 2030 at a compound annual growth rate (CAGR) of 9.7%. The growth in the forecast period can be attributed to rising electricity demand, integration of gas turbines with renewable energy, adoption of condition based maintenance, aging turbine fleets, demand for higher operational efficiency. Major trends in the forecast period include growing demand for predictive maintenance services, increasing adoption of digital turbine monitoring, rising focus on life extension and upgrade services, expansion of non OEM service providers, growing demand for rapid emergency repair services.

Rising natural gas consumption in electricity generation is expected to drive the growth of the gas turbine services market in the coming years. Electricity generation involves producing electrical power using various energy sources and technologies, including fossil fuels, renewables, and nuclear power. The increasing use of natural gas for power generation is driven by its cost competitiveness, lower carbon emissions compared to coal, and its ability to support grid reliability. The gas turbine services market supports electricity generation by ensuring the efficient operation, maintenance, repair, and performance optimization of gas turbines used in natural gas power plants. For example, in April 2024, the U.S. Energy Information Administration reported that the electric power sector recorded the largest growth in natural gas consumption among U.S. economic sectors in 2023, increasing by 7% (2.2 billion cubic feet per day) from 33.2 Bcf/d in 2022 to a record high of 35.4 Bcf/d. Consequently, rising natural gas consumption in electricity generation is fueling the growth of the gas turbine services market.

Major companies in the market are launching new products, such as digital twin offerings, to maintain and strengthen their market position. A digital twin offering comprises a comprehensive set of services, technologies, and solutions that enable the creation, management, and utilization of digital twins - a virtual representation or model of a physical object, system, or process. For example, in January 2023, Power Systems Mfg. LLC, a US-based clean energy solutions provider, launched a customer-facing digital twin offering called Data Insights. This new PSM solution helps both PSM and its customers navigate vast amounts of plant data and analysis to quickly identify which gas turbines require attention and diagnose underlying issues. The system leverages nD technology, generating scores for thermal performance, reliability risk, and emissions health by aggregating numerous normalized key performance indicators (KPIs). This allows PSM and its clients to pinpoint underperforming engines in their fleets, understand their health category, and track performance across specific KPIs.

In June 2023, Siemens Energy AG, a Germany-based company, acquired Siemens Gamesa Renewable Energy, S.A. for $4.4 billion. This acquisition allows Siemens Energy to enhance its portfolio by integrating Siemens Gamesa's expertise in gas turbine services. Siemens Gamesa Renewable Energy, S.A. is also a Germany-based company specializing in gas turbine services.

Major companies operating in the gas turbine services market are Siemens AG, General Electric Company, Mitsubishi Heavy Industries Ltd., Ansaldo Energia SpA, MAN Energy Solutions SE, Kawasaki Heavy Industries Ltd., Caterpillar Inc., MTU Aero Engines AG, EthosEnergy Group Limited, ProEnergy Services LLC, Sulzer Ltd., Rolls-Royce PLC, Solar Turbines Incorporated, Centrax Gas Turbines Limited, OPRA Turbines BV, Welland Power Limited, Turbine Technology Services Corporation, Mechanical Dynamics & Analysis LLC, APR Energy Limited, PW Power Systems LLC, Stellar Energy Americas Inc., Alba Power Limited, National Electric Coil, Turbine Services Limited, Stork BV, TurbinePRO, Mechanical Field Support BV.

North America was the largest region in the gas turbine services market share in 2025. The regions covered in the gas turbine services market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the gas turbine services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The gas turbine services market includes revenues earned by entities by providing overhaul and spare parts supply services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

This product will be delivered within 1-3 business days.