The market for gas turbine maintenance, repair and overhaul (MRO) services has picked up considerably, with Middle East revenues expected to reach $350m in 2013, according to a report by Frost & Sullivan.
The research firm has revealed the positive outlook for the market in the wake of government and private entities in the region investing in oil and gas facilities.
“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,” said Frost & Sullivan senior research analyst Lakshman Rao Sutrave.
The report also revealed that major services providers which cater for the requirements of various end users have set up bases in the Middle East in order to cater for this increased demand. The surge in demand is also set to result in challenges for service providers to find skilled manpower in the Middle East market.
