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Extensive Replacement and Refurbishment Activities Sustain Demand for Power Plant Services Finds Frost & Sullivan - The dearth of skilled labour is compelling utilities and independent power producers to use power plant services - Energy.Frost.com
Extensive Replacement and Refurbishment Activities Sustain Demand for Power Plant Services Finds Frost & Sullivan

 

NewswireToday - /newswire/ - London, United Kingdom, 2014/11/11 - The dearth of skilled labour is compelling utilities and independent power producers to use power plant services - Energy.Frost.com.

   
 
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2014 Refurbishments to improve the operational flexibility of fossil-fired power plants are driving the mature European power plant services market. In Western European countries, the lack of efficient and skilled labour is aiding the uptake of these services. In Eastern Europe, however, it is the low cost of services that encourage utilities to outsource a large proportion of their power plant services to specialist independent companies.

New analysis from Frost & Sullivan, European Power Plant Services Market, finds that the market earned revenues of €3.59 billion in 2013 and estimates this to reach €4.14 billion in 2020. The study covers steam turbines, gas turbines, and heat recovery steam generators and boilers services. Power plant services are provided by original equipment manufacturers (OEMs) as well as independent service providers (ISPs) to utilities and independent power producers (IPPs).

“Electricity demand from both mature and emerging European economies as well as the decommissioning of old conventional thermal power plants are driving the power plant services market,” said Frost & Sullivan Energy & Environmental Industry Analyst Pritil Gunjan. “Extensive maintenance and repairs to ageing power plants to optimise utilisation will add to the opportunities for power plant service providers.”

New projects will be a mix of highly efficient coal plants due to the falling prices of coal and modern combined-cycle gas turbines plants. Among conventional thermal plant additions too, gas-fired power plants will hold the dominant share. This will boost the demand for power plants services from OEMs as they are better placed to service technologically complex gas turbines.

“As manufacturers develop novel gas turbines based on advanced technology, more customers will rely on OEMs for power plant equipment services,” confirmed Gunjan. “Power plant service providers will also benefit from major utilities’ readiness to sign long-term service agreements for their newly built power plants.”

Unfortunately, project financing continues to be below the pre-economic crisis levels. Relative decline in industrial and commercial activity has reduced power utilization in these sectors. Further, utilities, financial institutions and private investors are showing keenness to invest in renewable and efficient energy generation technologies rather than thermal and fossil-powered solutions.

“Once the industrial climate recovers, power utilities and IPPs will register longer operational hours and find even more use for power plant services,” noted Gunjan. “Until such time, OEMs and ISPs will focus on renewing contracts, providing spare parts, and identifying fresh opportunities to survive in the concentrated competitive landscape.”

European Power Plant Services Market is part of the Energy & Power (energy.frost.com) Growth Partnership Service program. Frost & Sullivan’s related studies include: Global Solar Power Market, Global Gas and Steam Turbine Markets, Global Hybrid Power Systems Market, and Global Diesel Generator Set Market. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.

About Frost & Sullivan
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European Power Plant Services Market / MA82-14

 
 
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Extensive Replacement and Refurbishment Activities Sustain Demand for Power Plant Services Finds Frost & Sullivan

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Frost & Sullivan | European Power Plant Serv
Publisher Contact: Chiara Carella - Frost.com 
+44(0)20 7343 8314 / +44(0)75 3301 7689 (mobile) chiara.carella[.]frost.com
 
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