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Natural Gas Infrastructure Development Drives Growth in the Latin American Power Plant Services Market - Unlike many nations, Latin America's abundant natural gas and coal reserves offer the region options to satisfy the increasing energy demands
Natural Gas Infrastructure Development Drives Growth in the Latin American Power Plant Services Market

 

NewswireToday - /newswire/ - Buenos Aires, Argentina, 2008/07/16 - Unlike many nations, Latin America's abundant natural gas and coal reserves offer the region options to satisfy the increasing energy demands.

   
 
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In recent years, the benefits of this fuel availability have percolated to the steam and gas turbine services market as countries diversify their energy matrixes to meet growing consumer demand. Large power plants are more economical, and a wide deployment of hydro and thermoelectric plants is expected in the next few years.

New analysis from Frost & Sullivan (energy.frost.com), Latin American Natural Gas Power Plant Services Market, finds that market earned revenues of over $ 3.2 billion in 2007 and estimates this to reach $5.37 billion in 2012.

If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants with an overview of the Latin American power plant services market, then send an email to José María Jantus, Corporate Communications, at jose.jantus[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country. Upon receipt of the above information, an overview will be sent to you by email.

"Currently, the greatest investments, in terms of energy supply, is directed at thermal plants, inducing a change in the energy matrix of various countries in the region," says Tamara Dvoskin, Industry Manager at Frost & Sullivan. "Where hydroelectric generation was previously predominant, there is a strong trend to balance the energy matrices."

As thermal generation moves to the forefront, interest is surging in steam turbines as well as combined cycle power plants that employ both gas and steam turbines to enhance efficiency. The abundance of coal and biomass in the region, and the daunting prices of oil and natural gas also help push the uptake of steam turbines.

The insufficient capability to service turbines efficiently in-house and high profit margins of service providers, mainly original equipment manufacturers (OEMs), will also fuel the Latin American gas turbine services segment. The ongoing initiatives to boost the natural gas sector and the expansion of the region's ambitious pipeline projects will boost growth.

"The natural gas infrastructure projects in Latin America that offer lucrative investment opportunities are the development of both Bolivian and Peruvian gas, and the future South American pipeline," notes Dvoskin. "As the gas transport infrastructure develops, thermoelectric generation in new areas increases and consequently, power generation accelerates the growth of the natural gas sector."

High levels of competition between OEMs and independent service providers (ISPs) in the servicing sector will require end users to make an informed choice between high quality offered by the former and temporary reduction of costs provided by the latter. The low technological characteristics of steam turbines require little specialization, while gas turbines have highly sophisticated servicing activity that smaller participants cannot meet.

"Currently, long term service agreements (LTSA) are extremely popular," notes Dvoskin. "Newly commissioned power plants are now including LTSA and offering 20 to 25-year contracts, while ISPs are offering cheaper prices and shorter delivery times for the maintenance, repair and overhaul (MRO) services they provide."

Ultimately, service providers' willingness to take risks will determine their success. For instance, providing attractive, cost-effective service packages that go beyond simple spare parts supply, to offer additional features such as heat rate, insurance on availability, and output, will make the contract assume the dimensions of a low-risk investment for the plant owner, attracting more takers.

Overall, the region's need to satisfy its energy demand is a top priority. Updating existing power plants to new technologies and meeting efficiency demands will further propel the Latin American power plant services market's growth, as the trend will be toward more sophisticated and cleaner technologies.

Latin American Power Plant Services Market is part of the Energy and Power Growth Partnership Service program, which also includes research in the following markets: Latin America Renewable Energy Market, Latin America Steam and Gas Turbines Market, and Latin America Biofuels Market. All research services 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.

Frost & Sullivan, the Growth Partnership Company, partners with clients to accelerate their growth. The company's TEAM Research, Growth Consulting and Growth Team Membership™ empower clients to create a growth-focused culture that generates, evaluates and implements effective growth strategies. Frost & Sullivan employs over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 30 offices on six continents.

Latin American Power Plant Services Market - N24E

 
 
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Natural Gas Infrastructure Development Drives Growth in the Latin American Power Plant Services Market

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