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The future of the gas turbine maintenance, repair, and overhaul (MRO) market, looks good with opportunities in the maintenance service type.  The gas turbine MRO market in the power industry is expected to reach an estimated $17.8 billion by 2024 and is forecast to grow at a CAGR of 3.4% from 2019 to 2024. The major drivers for market growth are the aging fleet of gas turbines and stringent government regulations on emission control.

 
A total of 77 figures / charts and 58 tables are provided in this 130 -page report to help in your business decisions. Sample figures with some insights are shown below. To learn the scope of, benefits, companies researched and other details of this gas turbine MRO market in the power industry report, download the report brochure.
 
The study includes the gas turbine MRO market for the power industry size and forecast of the gas turbine MRO market in the power industry through 2024, segmented by end use industry, type of service, type of service provider, turbine capacity, and region as follows:

Gas Turbine MRO Market Trends

Gas Turbine MRO Market Forecast

Gas Turbine MRO Market Share
 
Gas Turbine MRO Market in the Power Industry by End Use Industry [Value ($ Billion) from 2013 to 2024]: 
  • Electrical Power Utility
  • Oil and Gas
  • Others
Gas Turbine MRO Market in the Power Industry by Type of Service [Value ($ Billion) from 2013 to 2024]: 
  • Maintenance
  • Repair
  • Overhaul
Gas Turbine MRO Market in the Power Industry by Type of Service Provider [Value ($ Billion) from 2013 to 2024]: 
  • Original Equipment Manufacturers
  • Independent Service Providers
  • In-House
Gas Turbine MRO Market in the Power Industry by Turbine Size [Value ($ Billion) from 2013 to 2024]: 
  • 1 – 60 MW
  • 61 – 180 MW
  • More than 180 MW
Gas Turbine MRO Market in the Power Industry by Region [Value ($ Billion) from 2013 to 2024]: 
  • North America
  • Europe
  • Asia Pacific
  • The Rest of the World
Some of the gas turbine MRO market for the power industry profiled in this report include are General Electrical, Siemens, Mitsubishi Heavy Industries, Wood Group, and Sulzer.
 
Lucintel forecasts that maintenance will remain the largest segment and witness the highest growth in the forecast period supported by the increasing fleet age of gas turbines in the power industry. 
 
By end use industries, electric power utility is expected to be the largest segment and witness the highest growth during the forecast period. Increasing demand for electricity is the major driving growth for this segment over the forecast period. 
 
North America is expected to remain the largest market and witness the highest growth over the forecast period due to MRO services required for a large number of existing and aging gas turbines shipped to this region in prior years.

Some of the features of this report:
  • Market size estimates: Gas turbine MRO market in the power industry size estimation in terms of value ($B) shipment.
  • Trend and forecast analysis: Market trend (2013-2018) and forecast (2019-2024) by segments and region.
  • Segmentation analysis: Gas turbine MRO market in the power industry size by various applications such as end use industry, type of service, type of service provider, and turbine capacity in terms of value and volume shipment.
  • Regional analysis: Gas turbine MRO market in the power industry market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
  • Growth opportunities: Analysis on growth opportunities in different applications and regions of gas turbine MRO market in the power industry.
  • Strategic analysis: This includes M&A, new product development, and competitive landscape of gas turbine MRO market in the power industry.
  • Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
This report answers the following 11 key questions:
 
Q.1. How big are the opportunities for the gas turbine MRO market in the power industry by end use industries, type of service (maintenance, repair, and overhaul), service provider (original equipment manufacturers, independent service providers, in-house), turbine size (more than 180 MW, 61 – 180 MW, and 1 – 60 MW) and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why? 
Q.3. Which region will grow at a faster pace and why? 
Q.4. What are the key factors affecting market dynamics? What are the drivers and challenges of the gas turbine MRO market in the power industry? 
Q.5. What are the business risks and threats to the gas turbine MRO market in the power industry?
Q.6. What are emerging trends in this gas turbine MRO market in the power industry and the reasons behind them? 
Q.7. What are some changing demands of customers in the gas turbine MRO market in the power industry?
Q.8. What are the new developments in the gas turbine MRO market in the power industry and which companies are leading these developments? 
Q.9. Who are the major players in this gas turbine MRO market in the power industry? What strategic initiatives are being taken by key companies for business growth? 
Q 10. What M&A activity has occurred in the last five years and what has its impact been on the gas turbine MRO market in the power industry?

Table of Contents
 
 
1. Executive Summary
 
2. Market Background and Classifications
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
 
3. Market Trends and Forecast Analysis from 2013 to 2024
3.1: Macroeconomic Trends and Forecast
3.2: Global Gas Turbine MRO Market Trends and Forecast
3.3: Global Gas Turbine MRO Market by Type of Service
3.3.1: Maintenance
3.3.2: Repair
3.3.3: Overhaul
3.4: Global Gas Turbine MRO Market by Type of Service Provider
3.4.1: OEMs
3.4.2: ISPs
3.4.3: In-House
3.5: Global Gas Turbine MRO Market by Turbine Size
3.5.1: More than 180 MW
3.5.2: 61-180 MW
3.5.3: 1-60 MW
3.6: Global Gas Turbine MRO Market by End Use Industry
3.6.1: Electric Power Utility
3.6.2: Oil & Gas
3.6.3: Others
 
4. Market Trends and Forecast Analysis by Region
4.1: Global Gas Turbine MRO Market by Region
4.2: North American Gas Turbine MRO Market
4.2.1: North American Gas Turbine MRO Market by Type Service Type
4.3: European Gas Turbine MRO Market
4.3.1: European Gas Turbine MRO Market by Service Type
4.4: APAC Gas Turbine MRO Market
4.4.1: APAC Gas Turbine MRO Market by Service Type
4.5: ROW Gas Turbine MRO Market
4.5.1: ROW Gas Turbine MRO Market by Service Type
 
5. Competitor Analysis
5.1: Market Share Analysis
5.2: Operational Integration
5.3: Geographical Reach
5.4: Porter’s Five Forces Analysis
 
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunities Analysis
6.1.1: Growth Opportunities for Global Gas Turbine MRO Market
6.1.2: Growth Opportunities for Global GasTurbine MRO Market by Region
6.1.3: Growth Opportunities for Global Gas Turbine MRO Market by Type of Service Provider
6.1.4: Growth Opportunities for Global Gas Turbine MRO Market by Turbine Size
6.1.5: Growth Opportunities for Global Gas Turbine MRO Market by End Use Industry
6.2: Emerging Trends in the Global Gas Turbine MRO Market
6.3: Strategic Analysis
6.3.1: Capacity Expansion in Gas Turbine MRO Market
6.3.2: Mergers, Acquisitions and Joint Ventures in Gas Turbine MRO Market
6.3.3: Certification and Licensing
 
7. Company Profiles of Leading Players
7.1: General Electric
7.2: Siemens
7.3: Mitsubishi Heavy Industries
7.4: Sulzer
7.5: Wood Group
 
 
 
List of Figures
 
Chapter 2. Market Background and Classifications
Figure 2.1: Gas Turbine Power Plant (Source: siemens.com)
Figure 2.2: GE Heavy-Duty Gas Turbines (Source: oilandgas.com)
Figure 2.3: Components of a Gas Turbine (Source: van-der-walt.blogspot.in)
Figure 2.4: Compressor of a Gas Turbine (Source: www.jsme-fed.org)
Figure 2.5: Combustor of a Gas Turbine (Source: www.onera.fr)
Figure 2.6: Turbines of a Gas Turbine (Source: www.amcprecision.com)
Figure 2.7: Shaft of a Gas Turbine (Source: science.howstuffworks.com)
Figure 2.8: Types of Gas Turbines in the Power Industry (Source: Lucintel)
Figure 2.9: An Open Cycle Unit Diagram (Source: www1.eere.energy.gov)
Figure 2.10: A Proposed Natural Gas Combined Cycle Power Plant in New York
Figure 2.11: A Combined Cycle Unit Diagram (Source: www.consumersenergy.com)
Figure 2.12: Systematic Process of Electricity Generation and Distribution
Figure 2.13: Gas Turbine MRO Structure (Source: Lucintel)
Figure 2.14: Gas Turbine at MTU Maintenance Berlin-Brandenburg / Germany
Figure 2.15: Supply Chain of the Global Gas Turbine MRO Market
Figure 2.16: Major Drivers and Challenges for the Global Gas Turbine MRO Market
 
Chapter 3. Market Trends and Forecast Analysis from 2013 to 2024
Figure 3.1: Global Natural Gas Price (USD/mmbtu) Trends (2013-2018)
Figure 3.2: Trends of the Global GDP Growth Rate
Figure 3.3: Trends of the Regional GDP Growth Rate
Figure 3.4: Global Natural Gas Price Forecast (2019-2024)
Figure 3.5: Forecast for the Global GDP Growth Rate
Figure 3.6: Forecast for the Regional GDP Growth Rate
Figure 3.7: Trends and forecast for the Global Gas Turbine MRO Market (2013-2024)
Figure 3.8: Trends of the Global Gas Turbine MRO Market ($B) by Type of Service (2013–2018)
Figure 3.9: Forecast for the Global Gas Turbine MRO Market ($B) by Type of Service (2019-2024)
Figure 3.10: Trends of the Global Gas Turbine MRO Maintenance Market ($B) by Region (2013-2018)
Figure 3.11: Forecast for the Global Gas Turbine MRO Maintenance Market ($B) by Region (2019-2024)
Figure 3.12: Trends of the Global Gas Turbine MRO Repair Market ($B) by Region (2013-2018)
Figure 3.13: Forecast for the Global Gas Turbine MRO Repair Market ($B) by Region (2019-2024)
Figure 3.14: Trends of the Global Gas Turbine MRO Overhaul Market ($B) by Region (2013-2018)
Figure 3.15: Forecast for the Global Gas Turbine MRO Overhaul Market ($B) by Region (2019-2024)
Figure 3.16: Trends of the Global Gas Turbine MRO Market ($B) by Type of Service Provider (2013-2018)
Figure 3.17: Forecast for the Global Gas Turbine Market ($B) by Type of Service Provider (2019-2024)
Figure 3.18: Trends and Forecast for the Global Gas Turbine MRO OEM Market (2013-2024)
Figure 3.19: Trends and Forecast for the Global Gas Turbine MRO ISP Market (2013-2024)
Figure 3.20: Trends and Forecast for the Global Gas Turbine MRO In-House Market (2013-2024)
Figure 3.21: Trends of the Global Gas Turbine MRO Market ($B) by Turbine Size (2013-2018)
Figure 3.22: Forecast for the Global Gas Turbine Market ($B) by Turbine Size  (2019-2024)
Figure 3.23: Trends and Forecast for the Global Gas Turbine MRO Market for More Than 180 MW Turbine Size (2013-2024)
Figure 3.24: Trends and Forecast for the Global Gas Turbine MRO Market for 61-180 MW Turbine Size (2013-2024)
Figure 3.25: Trends and Forecast for the Global Gas Turbine MRO Market for 1-60 MW Turbine Size (2013-2024)
Figure 3.26: Trends of the Global Gas Turbine MRO Market ($B) by End Use Industry (2013-2018)
Figure 3.27: Forecast for the Global Gas Turbine Market ($B) by End Use Industry (2019-2024)
Figure 3.28: Trends and Forecast for the Global Gas Turbine MRO Market for Electric Power Utility (2013-2024)
Figure 3.29: Trends and Forecast for the Global Gas Turbine MRO Market for Oil & Gas    (2013-2024)
Figure 3.30: Trends and Forecast for the Global Gas Turbine MRO Market for Others (2013-2024)
 
Chapter 4. Market Trends and Forecast Analysis by Region
Figure 4.1: Trends of the Global Gas Turbine MRO Market ($B) by Region (2013-2018)
Figure 4.2: Forecast for the Global Gas Turbine MRO Market ($B) by Region (2019-2024)
Figure 4.3: Trends and Forecast of the North American Gas Turbine MRO Market (2013-2024)
Figure 4.4: Trends of the North American Gas Turbine MRO Market ($B) by Type of Service (2013-2018)
Figure 4.5: Forecast for the North American Gas Turbine MRO Market ($B) by Type of Service (2019-2024)
Figure 4.6: Trends and Forecast for the Europe Gas Turbine MRO Market (2013-2024)
Figure 4.7: Trends of the European Gas Turbine MRO Market ($B) by Type of Service (2013-2018)
Figure 4.8: Forecast for the European Gas Turbine MRO Market ($B) by Type of Service (2019-2024)
Figure 4.9: Trends and Forecast of the APAC Gas Turbine MRO Market (2013-2024)
Figure 4.10: Trends of the APAC Gas Turbine MRO Market ($B) by Service Type (2013-2018)
Figure 4.11: Forecast for the APAC Gas Turbine MRO Market ($B) by Service Type (2019-2024)
Figure 4.12: Trends and Forecast for the ROW Gas Turbine MRO Market (2013-2024)
Figure 4.13: Trends of the ROW Gas Turbine MRO Market ($B) by Type of Service (2013-2018)
Figure 4.14: Forecast for the ROW Gas Turbine MRO Market ($B) by Type of Service (2019-2024)
 
Chapter 5. Competitor Analysis
Figure 5.1: Market Share Analysis of Top Players of the Gas Turbine MRO Market in 2018
Figure 5.2: Market Share of Top Five Suppliers in the Global Gas Turbine MRO Market in 2018 (Source: Lucintel)
Figure 5.3:  Geographical Footprint of Competitors in the Global Gas Turbine MRO Market (Source: Lucintel)
Figure 5.4:  Porter’s Five Forces Model for the Global Gas Turbine MRO Market (Source: Lucintel)
 
Chapter 6. Growth Opportunities and Strategic Analysis
Figure 6.1: Growth Opportunities in the Global Gas Turbine MRO Market by Service Type
Figure 6.2: Growth Opportunities in the Global Gas Turbine MRO Market by Region
Figure 6.3: Growth Opportunities in the Global Gas Turbine MRO Market by Service Provide
Figure 6.4: Growth Opportunities in the Global Global Gas Turbine MRO Market by Turbine Size (2019 - 2024)
Figure 6.5: Growth Opportunities in the Global Gas Turbine MRO Market by End Use Industry (2019-2024)
Figure 6.6: Emerging Trends in the Global Gas Turbine MRO Market
Figure 6.7: Strategic Initiatives by Major Competitors in the Global Gas Turbine MRO Market
Figure 6.8: Capacity Building by Major Players during Last Five Years
 
Chapter 7. Company Profiles of Leading Players
Figure 7.1: Major Plant Location of General Electric
Figure 7.2: Major Plant Location of Siemens
Figure 7.3: Major Plant Location of MHI
Figure 7.4: Major Plant Location of Sulzer
Figure 7.5: Major Plant Location of Wood Group
 
 
List of Tables
 
Chapter 1. Executive Summary
Table 1.1: Global Gas Turbine MRO Market Parameters and Attributes
 
Chapter 2. Market Background and Classifications
Table 2.1: Development in Gas Turbines
Table 2.2: Major In-House Maintenance Activities and Their Frequencies
 
Chapter 3. Market Trends and Forecast Analysis from 2013 to 2024
Table 3.1: Market Trends of the Global Gas Turbine MRO Market (2013-2018)
Table 3.2: Market Forecast for the Global Gas Turbine MRO Market (2019-2024)
Table 3.3: Market Size and CAGR of Various Type of Service in the Global Gas Turbine MRO Market by Value (2013-2018)
Table 3.4: Market Size and CAGR of Various Type of Service in the Global Gas Turbine MRO Market by Value (2019-2024)
Table 3.5: Trends of the Global Gas Turbine MRO Maintenance Market ($B) by Region (2013-2018)
Table 3.6: Forecast for the Global Gas Turbine MRO Maintenance Market ($B) by Region (2019-2024)
Table 3.7: Trends of the Global Gas Turbine MRO Repair Market ($B) by Region (2013-2018)
Table 3.8: Forecast for the Global Gas Turbine MRO Repair Market ($B) by Region (2019-2024)
Table 3.9: Trends of the Global Gas Turbine MRO Overhaul Market ($B) by Region (2013-2018)
Table 3.10: Forecast for the Global Gas Turbine MRO Overhaul Market ($B) by Region (2019-2024)
Table 3.11: Market Size and CAGR of Various Type of Service Provider in the Global Gas Turbine MRO Market by Value (2013-2018)
Table 3.12: Market Size and CAGR of Various Service Provider in the Global Gas Turbine MRO Market by Value (2019-2024)
Table 3.13: Trends of the Global Gas Turbine MRO OEM Market (2013-2018)
Table 3.14: Forecast for the Global Gas Turbine MRO OEM Market (2019-2024)
Table 3.15: Trends of the Global Gas Turbine MRO ISP Market (2013-2018)
Table 3.16: Forecast for the Global Gas Turbine MRO ISP Market (2019-2024)
Table 3.17: Trends of the Global Gas Turbine MRO In-House Market (2013-2018)
Table 3.18: Forecast for the Global Gas Turbine MRO In-House Market (2019-2024)
Table 3.19: Market Size and CAGR of Various Turbine Size in the Global Gas Turbine MRO Market by Value (2013-2018)
Table 3.20: Market Size and CAGR of Various Turbine Size in the Global Gas Turbine MRO Market by Value (2019-2024)
Table 3.21: Trends of the More Than 180 MW Turbine Size in the Global Gas Turbine MRO Market (2013-2018)
Table 3.22: Forecast for the More Than 180 MW Turbine Size in the Global Gas Turbine MRO Market (2019-2024)
Table 3.23: Market Trends of the 61-180 MW Turbine Size in the Global Gas Turbine MRO Market (2013-2018)
Table 3.24: Market Forecast for the 61-180 MW Turbine Size in the Global Gas Turbine MRO Market (2019-2024)
Table 3.25: Market Trends of the 1-60 MW Turbine Size in the Global Gas Turbine MRO Market (2013-2018)
Table 3.26: Market Forecast for the 1-60 MW Turbine Size in the Global Gas Turbine MRO Market (2019-2024)
Table 3.27: Market Size and CAGR of Various End Use Industry in the Global Gas Turbine MRO Market by Value (2013-2018)
Table 3.28: Market Size and CAGR of Various End use Industry in the Global Gas Turbine MRO Market by Value (2019-2024)
Table 3.29: Market Trends of the Global Gas Turbine MRO Market in Electric Power Utility Industry (2013-2018)
Table 3.30: Market Forecast for the Global Gas Turbine MRO Market in Electric Power Utility Industry (2019-2024)
Table 3.31: Market Trends of the Global Gas Turbine MRO Market in Oil and Gas Industry (2013-2018)
Table 3.32: Market Forecast for the Global Gas Turbine MRO Market in Oil & Gas Industry (2019-2024)
Table 3.33: Market Trends of the Global Gas Turbine MRO Market in Other Industry (2013-2018)
Table 3.34: Market Forecast for the Global Gas Turbine MRO Market for Others Industry (2019-2024)
 
Chapter 4. Market Trends and Forecast Analysis by Region
Table 4.1: Market Size and CAGR of Various Regions of the Global Gas Turbine MRO Market by Value (2013-2018)
Table 4.2: Market Size and CAGR of Various Regions of the Global Gas Turbine MRO Market by Value (2019-2024)
Table 4.3: Trends of the North American Gas Turbine MRO Market (2013-2018)
Table  4.4: Forecast for the North American Gas Turbine MRO Market (2019-2024)
Table 4.5: Trends of the North American in the Gas Turbine MRO Market by Type of Service (2013-2018)
Table 4.6: Forecast for the North American in the Gas Turbine MRO Market by Type of Service (2019-2024)
Table 4.7: Trends of the European Gas Turbine MRO Market (2013-2028)
Table  4.8: Forecast for the European Gas Turbine MRO Market (2019-2024)
Table 4.9: Trends of European in the Gas Turbine MRO Market by Type of Service (2013-2018)
Table 4.10: Market Forecast for European in the Gas Turbine MRO Market by Service Type (2019-2024)
Table 4.11: Market Trends of the APAC Gas Turbine MRO Market (2013-2018)
Table 4.12: Market Forecast of the APAC Gas Turbine MRO Market (2019-2024)
Table 4.13: Market Trends of APAC in the Gas Turbine MRO Market by Service Type (2013-2018)
Table 4.14: Market Forecast for APAC in the Gas Turbine MRO Market by Service Type (2019-2024)
Table 4.15: Trends of the ROW Gas Turbine MRO Market (2013-2018)
Table  4.16: Forecast for the ROW Gas Turbine MRO Market (2019-2024)
Table 4.17: Trends of the ROW in the Gas Turbine MRO Market by Type of service (2013-2018)
Table 4.18: Forecast for the ROW in the Gas Turbine MRO Market by Type Service (2019-2024)
 
Chapter 5. Competitor Analysis
Table 5.1: Rankings of Gas Turbine MRO Suppliers Based on Revenue
Table 5.2: Operational Integration of Gas Turbine MRO Service Providers
 
Chapter 6. Growth Opportunities and Strategic Analysis
Table 6.1: Certification and Licenses Acquired by Major Competitors in the Global Gas Turbine MRO Market
 
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Full Report: Gas Turbine MRO Market: Trends, Opportunities and Competitive Analysis Full Report $ 4,850
77 figures/charts and 58 tables are provided in this 130 - page report
Chapter - 1: Executive Summary 6 $ 435
1. Executive Summary
Chapter - 2: Market Background and Classifications 17 $ 218
2. Market Background and Classifications
2.1 Introduction, Background, and Classifications
2.2 Supply Chain
2.3 Industry Drivers and Challenges
Chapter - 3: Market Trends and Forecast Analysis 34 $ 1,740
3. Market Trends and Forecast Analysis from 2012 to 2023
3.1 Macroeconomic Trends and Forecast
3.2 Global Gas Turbine MRO Market Trends and Forecast
3.3 Global Gas Turbine MRO Market by Type of Service
3.3.1 Maintenance
3.3.2 Repair
3.3.3 Overhaul
3.4 Global Gas Turbine MRO Market by Type of Service Provider
3.4.1 OEMs
3.4.2 ISPs
3.4.3 In-House
3.5 Global Gas Turbine MRO Market by Turbine Size
3.5.1 More than 180 MW
3.5.2 61-180 MW
3.5.3 1-60 MW
3.6 Global Gas Turbine MRO Market by End Use Industry
3.6.1 Electric Power Utility
3.6.2 Oil & Gas
3.6.3 Others
Chapter - 4: Regional Analysis 15 $ 2,248
4. Market Trends and Forecast Analysis by Region
4.1 Global Gas Turbine MRO Market by Region
4.2 North American Gas Turbine MRO Market
4.2.1 North American Gas Turbine MRO Market by Type Service Type
4.3 European Gas Turbine MRO Market
4.3.1 European Gas Turbine MRO Market by Service Type
4.4 APAC Gas Turbine MRO Market
4.4.1 APAC Gas Turbine MRO Market by Service Type
4.5 ROW Gas Turbine MRO Market
4.5.1 ROW Gas Turbine MRO Market by Service Type
Chapter - 5: Competitor Analysis 10 $ 725
5. Competitor Analysis
5.1 Market Share Analysis
5.2 Operational Integration
5.3 Geographical Reach
5.4 Porter’s Five Forces Analysis
Chapter - 6: Growth Opportunities and Strategic Analysis 19 $ 870
6. Growth Opportunities and Strategic Analysis
6.1 Growth Opportunities Analysis
6.1.1 Growth Opportunities for Global Gas Turbine MRO Market
6.1.2 Growth Opportunities for Global GasTurbine MRO Market by Region
6.1.3 Growth Opportunities for Global Gas Turbine MRO Market by Type of Service Provider
6.1.4 Growth Opportunities for Global Gas Turbine MRO Market by Turbine Size
6.1.5 Growth Opportunities for Global Gas Turbine MRO Market by End Use Industry
6.2 Emerging Trends in Global Gas Turbine MRO Market
6.3 Strategic Analysis
6.3.1 Capacity Expansion in Gas Turbine MRO Market
6.3.2 Mergers, Acquisitions and Joint Ventures in Gas Turbine MRO Market
6.3.3 Certification and Licensing
Chapter - 7: Company Profiles of Leading Players 16 $ 508
7. Company Profiles of Leading Players
7.1 General Electric
7.2 Siemens
7.3 Mitsubishi Heavy Industries
7.4 Sulzer
7.5 Wood Group
Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
  • In-depth interviews of the major players in this market
  • Detailed secondary research from competitors’ financial statements and published data 
  • Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
  • A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
 
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.