Description

The Western European power plant services market is expected to experience solid growth as the market shifts from steam-fired power plants to gas-fired power plants in order to reduce carbon emissions and to achieve a more adaptive and flexible generating system. Revenue growth will be supported by more LTSAs sold to the new fleet of gas-fired power plants, as well as greater outsourcing by utilities struggling with a lack of qualified inhouse expertise. OEMs are increasingly forced to compete at par with Independent Service Providers (ISPs) offering more competitive and flexible contracts as customers have acquired higher bargaining power.