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Western European Power Plant Services Markets
Frost & Sullivan, Dec 2009, Pages: 115
The Western European power plant services market has witnessed a resurgence in recent years, with increased investments in the power generation industry.
This Frost & Sullivan research service titled Western European Power Plant Services Markets provides a strategic assessment of the conventional thermal power plant servicing markets across the three functional segments of gas turbines, steam turbines and boilers at a top level in Europe along with a detailed analysis of a few selected western European countries.
Market Overview
Ageing Power Plants and Inadequate In-house Capabilities Drive The Power Plant Services Market in Western Europe
Recent investments in the western European power generation industry have revived the region’s power plant services market. After going through the teething troubles in the early stages of liberalisation, the industry has stabilised to some extent presently. Although the global economic slowdown has affected the power generation industry as well as the services market indirectly, the impact is likely to last only for a short term in Europe. “Besides Europe’s ageing fleet of power plants, the growth in the installed capacity of combined cycle gas turbine (CCGT) (gas fired plants) augurs well for the services market because gas turbine contracts tend to be of higher value,” says the analyst of this research. “Although the boiler and steam turbine markets are considered relatively mature, the gas turbine market is in a growth phase, with developments in the new installed capacity driving the market.”
The dynamics of the gas turbine market are different from the steam turbine and boiler market. Boiler and steam turbine servicing have relatively lower contract values due to the lower degree of technological innovation and sophistication and the presence of more competitors, whereas the gas turbine servicing contracts tend to be of higher value with fewer competitors.
Some of the key restraints in the short term for the western European power plant services market include greater focus on renewable energy sources such as wind, potential resurgence of nuclear power, capacity constraints and unwillingness of some utilities to outsource complete operation and maintenance (O&M) contracts and the adverse effect of economic slowdown. “The shortage of experienced and skilled manpower for the servicing business in Western Europe is turning into a major impediment for providing services to customers,” notes the analyst. “The market also faces the challenge of public opposition to fossil fuel plants, especially coal fired plants.”
Despite these problems, there are several opportunities present, geographically, across the various functional segments of gas turbines, steam turbines and boilers. The market growth is mainly driven by lack of adequate in-house capability, rising trend of services for new build plants, growth in new installed capacity and customers’ focus on improving efficiency and cost. “The ageing fleet of power plants in Western Europe, especially coal fired plants, play an important part in creating the demand for more power plant service requirements,” says the analyst. “
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
By Region:
- Austria
- Belgium
- Denmark
- Finland
- France
- Germany
- Greece
- Iceland
- Ireland
- Italy
- Luxembourg
- The Netherlands
- Norway
- Portugal
- Spain
- Sweden
- Switzerland
- The United Kingdom
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