Press release from Business Wire India
Source: Frost & Sullivan
Monday, April 19, 2010 12:58 PM IST (07:28 AM GMT)
Editors: General: Consumer interest; Business: Accounting & management consultancy services, Business services, Energy companies, Financial Analyst
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Gas Turbine Services Market Picks up Steam with a Spate of Turbine Installations, Finds Frost & Sullivan
Dubai, United Arab Emirates, Monday, April 19, 2010 -- (Business Wire India) -- With both the Government and private entities investing significantly in oil and gas facilities, process industries, and power generation in the Middle East, the market for gas turbine maintenance, repair, and overhaul (MRO) services has opened up considerably. As a corollary, there has been substantial demand for their MRO services in the Gulf Cooperation Council (GCC).
New analysis from Frost & Sullivan (http://www.energy.frost.com), Middle East (GCC) Gas Turbine Maintenance Repair and Overhaul (MRO) Services Market, finds that the market earned revenues of $250.0 million in 2008 and estimates this to reach $350.0 million in 2013.
If you are interested in more information on this study, please send an e-mail to Tanu Chopra/ Nimisha Iyer, Corporate Communications, at tanu.chopra@frost.com / niyer@frost.com with your full name, company name, title, telephone number, company e-mail address, company website, city, state and country.
Major service providers catering to the requirements of various end users, including oil and gas facilities, petrochemicals, process industries, and power plants, have set up shop in the Middle East to make the most of these substantial opportunities. They can expect a spurt in business growth and consolidation, with the greater participation of private companies in industrial activities and their preference for outsourcing of maintenance activities.
"Upcoming Greenfield and Brownfield projects in oil and gas exploration and production, as well as investment in downstream sectors are expected to increase the installed base of light industrial gas turbines, which, in turn, will generate need for turbine services," says Frost & Sullivan Senior Research Analyst Lakshman Rao Sutrave.
On the flip side, service providers have to find adequate human resources to make the most of this surge in demand. However, skilled manpower is in short supply in the region and hence, they are forced to recruit people from other regions, especially South Asia, Southeast Asia, and Europe. They are also trying to bridge the deficit by imparting training to the locals to enhance their skills and make them employable.
Moreover, the establishment of central workshops in many giant public sector organizations reduces their dependence on external service providers. Further, the oil and gas industry is particularly partial to original equipment manufacturer (OEM) services, which impedes the entry of third-party service providers in this important end-user segment.
"To counter this challenge, third-party service providers are building up capabilities to address demanding service requirements of potential clients," notes Sutrave.
Middle East (GCC) Gas Turbine Maintenance Repair and Overhaul (MRO) Services Market is part of the Energy & Power Growth Partnership Services program, which also includes research in the following markets: Middle East (GCC) Steam Turbine Maintenance Repair and Overhaul (MRO) Services Market and Middle East Diesel Genset Market. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
About Frost & Sullivan
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Middle East (GCC) Gas Turbine Maintenance Repair and Overhaul (MRO) Services Market
P3C1
CONTACT DETAILS
Tanu Chopra Corporate Communications - Middle East, Frost & Sullivan, +91 (22) 40013437, tanu.chopra@frost.com
Ravinder kaur Corporate Communications - South Asia, Frost & Sullivan, +91 (44) 42044760, ravinder.kaur@frost.com
Nimisha Iyer Corporate Communications - South Asia and Middle East, Frost & Sullivan, +91 9820050519, niyer@frost.com
KEYWORDS
CONSUMER, CONSULTANCY SERVICES, BUSINESS SERVICES, ENERGY, Financial Analyst
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