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London, United Kingdom, 2007/07/24 - New research from Frost & Sullivan, Central and Eastern European Steam and Gas Turbines Market, finds that the market earned revenues of $1.52 billion in 2006 and estimates this to reach $5.34 billion in 2013.
High growth potential for the Central and Eastern European steam and gas turbines market. Its revenues will increase three times more over the next few years as a result of the rising demand for electricity and the need to replace obsolete power plant equipment.
New research from Frost & Sullivan (power.frost.com), Central and Eastern European Steam and Gas Turbines Market, finds that the market earned revenues of $1.52 billion in 2006 and estimates this to reach $5.34 billion in 2013.
“The market for steam and gas turbines in Central and Eastern Europe is at a mature stage. However, it is expected to grow dynamically in the immediate future,” states Frost & Sullivan Research Analyst Lukasz Stepien. “The rising demand for electricity, coupled with the pressing need to replace power plant equipment, will drive the regional market and generate investment opportunities.”
Improved efficiency will be the focus of investments in the region. Efforts will be made to achieve power generation at rates competitive to those offered across the European Union. Moreover, to meet the increasing demand for electricity, aging and inefficient equipment will need to be replaced, even as the generation of additional capacity becomes critical.
Historically, the main challenge in the Central and Eastern Europe steam and gas turbines market has been the lack of investment funds. The situation has changed dramatically in recent years. Most countries in the region have become members of the European Union, electricity prices have increased and the investment banking system has showed significant improvement.
“The creation of the European internal electricity market will compel power plants to boost the efficiency of their electricity generation in order to be more competitive,” notes Mr. Stepien. “Since most of the equipment in the region was installed in the 60s and 70s, a majority of the turbines will need to be replaced in the immediate future.”
Establishing a local presence and building long-term relationships with power plants in the region remain key to succeeding in the Central and Eastern European energy sector. Global steam and gas turbines providers need to focus on building a reliable reference list that addresses local end-user requirements.
If you are interested in a virtual brochure, which provides manufacturers, end users and other industry participants with an overview of the latest analysis of the Central and Eastern European Steam and Gas Turbines Market, send an e-mail to Chiara Carella, Corporate Communications, at chiara.carella[.]frost.com. Please include your full name, company name, title, telephone number, email address, city, state and country and we will send you the information through email upon receipt of the information.
Central and Eastern European Steam and Gas Turbines Market is part of the Energy & Power Growth Partnership Services, which also includes research in the following markets: Western European Cogeneration Equipment Market, Central and Eastern European Air Pollution Control Equipment in Power and, European Renewable Energy. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.
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