Global Power Plant Services Markets

Fossil-Fired Power Plants Maintenance Provides Counterbalance to Downturn in New-Build Business

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Aging power plants generate high revenues for the power plant servicing market

The power plant services market is growing rapidly as new generating capacities are being added to plants to cope with the rising demand for electricity. The US is the biggest market in this segment and is expected to retain this position until 2030 due to the presence of numerous old and maintenance-intensive power plants in the country. In the meantime, the markets of China, India and the Association of Southeast Asian Nations (ASEAN) are expanding rapidly, fuelled by escalating energy needs. This demand has spurred a massive expansion drive in the Asia-Pacific power sector, especially in China, which is investing heavily in gas-fired power plants. As these power plants require frequent maintenance, there will be substantial opportunities in the power plant services market in the coming years. Furthermore, with the growth of independent power producers (IPPS), the Chinese power industry has become extremely competitive which will, in turn, drive the power plant services market.

Increased gas-fired power generation to boost the power plant services market in Europe

Though, currently not a significant contributor to the power plant services market because of the on-going financial downturn, Europe is anticipated to bridge the gap with the main regional markets by 2017. Central and Eastern European countries are making large-scale investments in gas-fired power plants, which will greatly contribute to the market share of the services sector. Meanwhile, the global market has benefitted from the lull in nuclear power production in the wake of the Fukushima nuclear disaster. Japan, in particular, has started utilizing coal and gas plants in recent years as a result of the complete stoppage of nuclear power production following the incident. With more countries setting up gas power plants, the global gas turbines market is expected to do well after 2020 and this will enhance the revenue prospects of the services market.

Although the shift back to conventional power plants has stoked the demand for power plant services, the dissimilarities in market scope in different regions could hinder the market expansion efforts of global participants. For instance, power plant operators in the US outsource a large portion of their servicing owing to the shortage of skilled labour, while operators in ASEAN prefer in-house maintenance for their lower costs. Therefore, to break into regional markets and broaden their service offerings, global original equipment manufacturers (OEMs) are likely to acquire or merge with local and regional service providers.

Table of Contents

1. Executive Summary
Key Findings
Market Engineering Measurements
CEO’s Perspective
Three Big Predictions
2. Global Market Overview
Definitions
Specific Exclusions
Segmentation
Global Prospects
3. Forecasts and Trends—Power Plant Services Market
Market Engineering Measurements
Revenue Forecast
Percent Revenue Forecast by Region
Revenue Forecast by Region
Market Growth Correlation with Electricity Consumption
Percent Revenue Forecast by Equipment
Revenue Forecast by Equipment
Percent Revenue Forecast by Region for Steam Turbine Services
CAGR for Steam Turbine Services by Region
Revenue Forecast by Region for Steam Turbine Services
Percent Revenue Forecast by Region for Gas Turbine Services
CAGR for Gas Turbine Services by Region
Revenue Forecast by Region for Gas Turbine Services
Percent Revenue Forecast by Region for Boiler and HRSG Services
CAGR for Boiler and HRSG Services by Region
Revenue Forecast by Region for Boiler and HRSG Services
Revenue Forecast by Plant Type
Percent Revenue Forecast by End-user Type
Gas Turbine Services Technology Curve
Competitive Structure
Key Competitors by Region
4. Western Europe Analysis—External Challenges: Drivers and Restraints
Market Drivers
Ageing European power plant fleet
Greater focus on energy efficiency and cost reduction
Increasing trend towards LTSAs for new build power plants
Lack of in-house capabilities
Market Restraints
Ongoing economic weakness limits fired hours
Increasing focus on renewable energy
Limited investment in new fossil-fired plants
Reluctance to outsource operations
Forecasts and Trends
Market Engineering Measurements
Revenue Forecast
Percent Revenue Forecast by Equipment
Revenue Forecast by Equipment
Revenue Forecast by Plant Type
Percent Revenue Forecast by End-user Type
5. Central & Eastern Europe Analysis—External Challenges: Drivers and Restraints
Market Drivers
Ageing power plant fleet
Growing penetration of gas-fired generation
Increasing electricity demand
Greater liberalisation and privatisation of electricity industry
Market Restraints
Economic weakness reduces fired hours
Expansion of nuclear and hydro generating plants
Expansion of nuclear and hydro generating plants
Strong tradition of in-house servicing
Forecasts and Trends
6. Russia Analysis—External Challenges: Drivers and Restraints
Market Drivers
Ageing Russian power plant fleet due to historical underinvestment
Liberalisation of the Russian electricity market
Growing importance of energy efficiency
Growth in outsourcing of power plant maintenance and services
Market Restraints
Economic downturn driven by lower oil prices and Western sanctions
Reluctance to outsource power plant services
Promotion of non-fossil sources such as nuclear
Administrative barriers affect investor confidence
Forecasts and Trends
7. Middle East Analysis—External Challenges: Drivers and Restraints
Market Drivers
Continued strong growth in electricity demand
Continued strong growth in electricity demand
Continued investments in oil and gas industries despite lower oil prices
Power industry privatisation
Market Restraints
Lower oil and gas prices affect government income and reduce economic growth
Ongoing political upheaval
Bureaucracy affects pace of power reform and investment programmes
Development of non-fossil power generation sources
Forecasts and Trends
8. Africa Analysis—External Challenges: Drivers and Restraints
Market Drivers
Rapidly rising electricity demand
Shortage of power generation capacity prompts investments in new capacity
Vast natural gas reserves
Greater private participation in the power sector
Market Restraints
Lower oil prices affect investments in the oil and gas industry
Weak infrastructure
Political unrest and weak governments
Bureaucracy and corruption
Forecasts and trends
9. North America Analysis—External Challenges: Drivers and Restraints
Market Drivers
Ageing North American power plant fleet
Rapid growth in gas plants
Lack of in-house expertise
IPP and industrial preference for outsourcing
Market Restraints
Growth in renewable energy plants curtails expansion of fossil-based power services
Weak electricity demand growth
Resource constraints such as skilled labour and ageing workforce
Forecasts and Trends
10. Latin America Analysis—External Challenges: Drivers and Restraints
Market Drivers
Rising electricity demand
Expansion of gas-fired power
Increasing private sector participation
Oil and gas sector recovery
Market Restraints
Strong expansion of renewable energy
Low oil prices
Bureaucracy and corruption
Slow progress of liberalisation
Forecasts and Trends
11. China Analysis—External Challenges: Drivers and Restraints
12. India Analysis—External Challenges: Drivers and Restraints
13. Association of Southeast Asian Nations (ASEAN) Analysis—External Challenges: Drivers and Restraints
14. Australia & New Zealand (ANZ) Analysis—External Challenges: Drivers and Restraints
15. Japan Analysis—External Challenges: Drivers and Restraints
16. The Last Word
Three Big Predictions
Legal Disclaimer
17. Appendix
Market Engineering Methodology

Infographic



List of Figures & Charts

1. Power Plant Services Market: Market Engineering Measurements, Global, 2014
2. Power Plant Services Market: Revenue Forecast by Region, Global, 2011–2021
3. Power Plant Services Market: Revenue Forecast by Equipment, Global, 2011–2021
4. Power Plant Services Market: Revenue Forecast by Region for Steam Turbine Services, Global, 2011–2021
5. Power Plant Services Market: Revenue Forecast by Region for Gas Turbine Services, Global, 2011–2021
6. Power Plant Services Market: Revenue Forecast by Region for Boiler and HRSG Services, Global, 2011–2021
7. Power Plant Services Market: Key Market Drivers, Western Europe, 2015–2021
8. Power Plant Services Market: Key Market Restraints, Western Europe, 2015–2021
9. Power Plant Services Market: Market Engineering Measurements, Western Europe, 2014
10. Power Plant Services Market: Revenue Forecast by Equipment, Western Europe, 2011–2021
11. Power Plant Services Market: Key Market Drivers, Central & Eastern Europe, 2015–2021
12. Power Plant Services Market: Key Market Restraints, Central & Eastern Europe, 2015–2021
13. Power Plant Services Market: Market Engineering Measurements, Central & Eastern Europe, 2014
14. Power Plant Services Market: Revenue Forecast by Equipment, Central & Eastern Europe, 2011–2021
15. Power Plant Services Market: Key Market Drivers, Russia, 2015–2021
16. Power Plant Services Market: Key Market Restraints, Russia, 2015–2021
17. Power Plant Services Market: Market Engineering Measurements, Russia, 2014
18. Power Plant Services Market: Revenue Forecast by Equipment, Russia, 2011–2021
19. Power Plant Services Market: Key Market Drivers, Middle East, 2015–2021
20. Power Plant Services Market: Key Market Restraints, Middle East, 2015–2021
21. Power Plant Services Market: Market Engineering Measurements, Middle East, 2014
22. Power Plant Services Market: Revenue Forecast by Equipment, Middle East, 2011–2021
23. Power Plant Services Market: Key Market Drivers, Africa, 2015–2021
24. Power Plant Services Market: Key Market Restraints, Africa, 2015–2021
25. Power Plant Services Market: Market Engineering Measurements, Africa, 2014
26. Power Plant Services Market: Revenue Forecast by Equipment, Africa, 2011–2021
27. Power Plant Services Market: Key Market Drivers, North America, 2015–2021
28. Power Plant Services Market: Key Market Restraints, North America, 2015–2021
29. Power Plant Services Market: Market Engineering Measurements, North America, 2014
30. Power Plant Services Market: Revenue Forecast by Equipment, North America, 2011–2021
31. Power Plant Services Market: Key Market Drivers, Latin America, 2015–2021
32. Power Plant Services Market: Key Market Restraints, Latin America, 2015–2021
33. Power Plant Services Market: Market Engineering Measurements, Latin America, 2014
34. Power Plant Services Market: Revenue Forecast by Equipment, Latin America, 2011–2021
35. Power Plant Services Market: Key Market Drivers, China, 2015–2021
36. Power Plant Services Market: Key Market Restraints, China, 2015–2021
37. Power Plant Services Market: Market Engineering Measurements, China, 2014
38. Power Plant Services Market: Revenue Forecast by Equipment, China, 2011–2021
39. Power Plant Services Market: Key Market Drivers, India, 2015–2021
40. Power Plant Services Market: Key Market Restraints, India, 2015–2021
41. Power Plant Services Market: Market Engineering Measurements, India, 2014
42. Power Plant Services Market: Revenue Forecast by Equipment, India, 2011–2021
43. Power Plant Services Market: Key Market Drivers, ASEAN, 2015–2021
44. Power Plant Services Market: Key Market Restraints, ASEAN, 2015–2021
45. Power Plant Services Market: Market Engineering Measurements, ASEAN, 2014
46. Power Plant Services Market: Revenue Forecast by Equipment, ASEAN, 2011–2021
47. Power Plant Services Market: Key Market Drivers, ANZ, 2015–2021
48. Power Plant Services Market: Key Market Restraints, ANZ, 2015–2021
49. Power Plant Services Market: Market Engineering Measurements, ANZ, 2014
50. Power Plant Services Market: Revenue Forecast by Equipment, ANZ, 2011–2021
51. Power Plant Services Market: Key Market Drivers, Japan, 2015–2021
52. Power Plant Services Market: Key Market Restraints, Japan, 2015–2021
53. Power Plant Services Market: Market Engineering Measurements, Japan, 2014
54. Power Plant Services Market: Revenue Forecast by Equipment, Japan, 2011–2021


1. Power Plant Services Market: Market Engineering Measurements, Global, 2014
2. Power Plant Services Market: Market Segmentation, Global, 2014
3. Power Plant Services Market: Revenue Forecast, Global, 2011–2021
4. Power Plant Services Market: Percent Revenue Forecast by Region, Global, 2014 and 2021
5. Power Plant Services Market: Correlation Between Electricity Demand and Power Plant Services, Global, 2014–2021
6. Power Plant Services Market: Percent Revenue Forecast by Equipment, Global, 2011–2021
7. Power Plant Services Market: Percent Revenue Forecast by Region for Steam Turbine Services, Global, 2014 and 2021
8. Power Plant Services Market: CAGR for Steam Turbine Services by Region, Global, 2014–2021
9. Power Plant Services Market: Percent Revenue Forecast by Region for Gas Turbine Services, Global, 2014 and 2021
10. Power Plant Services Market: CAGR for Gas Turbine Services by Region, Global, 2014–2021
11. Power Plant Services Market: Percent Revenue Forecast by Region for Boiler and HRSG Services, Global, 2014 and 2021
12. Power Plant Services Market: CAGR for Boiler and HRSG Services by Region, Global, 2014–2021
13. Power Plant Services Market: Revenue Forecast by Plant Type, Global, 2014 and 2021
14. Power Plant Services Market: Percent Revenue Forecast by Plant Type, Global, 2014 and 2021
15. Power Plant Services Market: Percent Revenue Forecast by End-user Type, Global, 2014 and 2021
16. Power Plant Services Market: Potential for Non-OEM Service Providers Along Gas Turbine Technology Curve, Global, 2014
17. Power Plant Services Market: Competitive Structure, Global, 2014
18. Power Plant Services Market: Revenue Forecast, Western Europe, 2011–2021
19. Power Plant Services Market: Percent Revenue Forecast by Equipment, Western Europe, 2011–2021
20. Power Plant Services Market: Revenue Forecast by Plant Type, Western Europe, 2014–2021
21. Power Plant Services Market: Percent Revenue Forecast by Plant Type, Western Europe, 2014–2021
22. Power Plant Services Market: Percent Revenue Forecast by End-user Type, Western Europe, 2014 and 2021
23. Power Plant Services Market: Revenue Forecast, Central & Eastern Europe, 2011–2021
24. Power Plant Services Market: Percent Revenue Forecast by Equipment, Central & Eastern Europe, 2011–2021
25. Power Plant Services Market: Revenue Forecast by Plant Type, Central & Eastern Europe, 2014–2021
26. Power Plant Services Market: Percent Revenue Forecast by Plant Type, Central & Eastern Europe, 2014–2021
27. Power Plant Services Market: Percent Revenue Forecast by End-user Type, Central & Eastern Europe, 2014 and 2021
28. Power Plant Services Market: Revenue Forecast, Russia, 2011–2021
29. Power Plant Services Market: Percent Revenue Forecast by Equipment, Russia, 2011–2021
30. Power Plant Services Market: Revenue Forecast by Plant Type, Russia, 2014–2021
31. Power Plant Services Market: Percent Revenue Forecast by Plant Type, Russia, 2014–2021
32. Power Plant Services Market: Percent Revenue Forecast by End-user Type, Russia, 2014 and 2021
33. Power Plant Services Market: Revenue Forecast, Middle East, 2011–2021
34. Power Plant Services Market: Percent Revenue Forecast by Equipment, Middle East, 2011–2021
35. Power Plant Services Market: Revenue Forecast by Plant Type, Middle East, 2014–2021
36. Power Plant Services Market: Percent Revenue Forecast by Plant Type, Middle East, 2014–2021
37. Power Plant Services Market: Percent Revenue Forecast by End-user Type, Middle East, 2014 and 2021
38. Power Plant Services Market: Revenue Forecast, Africa, 2011–2021
39. Power Plant Services Market: Percent Revenue Forecast by Equipment, Africa, 2011–2021
40. Power Plant Services Market: Revenue Forecast by Plant Type, Africa, 2014–2021
41. Power Plant Services Market: Percent Revenue Forecast by Plant Type, Africa, 2014–2021
42. Power Plant Services Market: Percent Revenue Forecast by End-User Type, Africa, 2014 and 2021
43. Power Plant Services Market: Revenue Forecast, North America, 2011–2021
44. Power Plant Services Market: Percent Revenue Forecast by Equipment, North America, 2011–2021
45. Power Plant Services Market: Revenue Forecast by Plant Type, North America, 2014–2021
46. Power Plant Services Market: Percent Revenue Forecast by Plant Type, North America, 2014–2021
47. Power Plant Services Market: Percent Revenue Forecast by End-user Type, North America, 2014 and 2021
48. Power Plant Services Market: Revenue Forecast, Latin America, 2011–2021
49. Power Plant Services Market: Percent Revenue Forecast by Equipment, Latin America, 2011–2021
50. Power Plant Services Market: Revenue Forecast by Plant Type, Latin America, 2014–2021
51. Power Plant Services Market: Percent Revenue Forecast by Plant Type, Latin America, 2014–2021
52. Power Plant Services Market: Percent Revenue Forecast by End-User Type, Latin America, 2014 and 2021
53. Power Plant Services Market: Revenue Forecast, China, 2011–2021 Power Plant Services Market: Percent Revenue Forecast by Equipment, China, 2011–2021
54. Power Plant Services Market: Revenue Forecast by Plant Type, China, 2014–2021
55. Power Plant Services Market: Percent Revenue Forecast by Plant Type, China, 2014–2021
56. Power Plant Services Market: Percent Revenue Forecast by End-User Type, China, 2014 and 2021
57. Power Plant Services Market: Revenue Forecast, India, 2011–2021 Power Plant Services Market: Percent Revenue Forecast by Equipment, India, 2011–2021
58. Power Plant Services Market: Revenue Forecast by Plant Type, India, 2014–2021
59. Power Plant Services Market: Percent Revenue Forecast by Plant Type, India, 2014–2021
60. Power Plant Services Market: Percent Revenue Forecast by End-user Type, India, 2014 and 2021
61. Power Plant Services Market: Revenue Forecast, ASEAN, 2011–2021
62. Power Plant Services Market: Percent Revenue Forecast by Equipment, ASEAN, 2011–2021
63. Power Plant Services Market: Revenue Forecast by Plant Type, ASEAN, 2014–2021
64. Power Plant Services Market: Percent Revenue Forecast by Plant Type, ASEAN, 2014–2021
65. Power Plant Services Market: Percent Revenue Forecast by End-user Type, ASEAN, 2014 and 2021
66. Power Plant Services Market: Revenue Forecast, ANZ, 2011–2021
67. Power Plant Services Market: Percent Revenue Forecast by Equipment, ANZ, 2011–2021
68. Power Plant Services Market: Revenue Forecast by Plant Type, ANZ, 2014–2021
69. Power Plant Services Market: Percent Revenue Forecast by Plant Type, ANZ, 2014–2021
70. Power Plant Services Market: Percent Revenue Forecast by End-User Type, ANZ, 2014 and 2021
71. Power Plant Services Market: Revenue Forecast, Japan, 2011–2021
72. Power Plant Services Market: Percent Revenue Forecast by Equipment, Japan, 2011–2021
73. Power Plant Services Market: Revenue Forecast by Plant Type, Japan, 2014–2021
74. Power Plant Services Market: Percent Revenue Forecast by Plant Type, Japan, 2014–2021
75. Power Plant Services Market: Percent Revenue Forecast by End-user Type, Japan, 2014 and 2021



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