Turbine Repair and Maintenance Industry Procurement Intelligence, Pricing & Cost Structure Intelligence to 2027
Procurement Outlook Demand for power generation from renewable means of energy is ever increasing. One of the primary means of renewable energy generation is from wind and water turbines, apart from solar energy . Hence, the need for turbines to be operational during peak load periods is necessary. One of the methods to ensure efficient performance is through regular maintenance. Components that require maintenance periodically are turbines, compressors, exhaust chimney, gearbox, generator, and combustor. Turbine repair services are a sub-category under MRO (maintenance, repair, and operations) market but it occupies a meager 12%-14% share in the overall MRO category . Demand Outlook The global turbine repair and maintenance market was estimated at USD 81.8 billion in 2020 and the market is projected to grow at a CAGR of 15.9%. While most of the markets suffered impacts (positive or negative) due to the outbreak of the COVID pandemic, the turbine repair services marke...