Power Plant Services Market in the APAC Region 2015-2019
About Power Plant Service
Many countries in the APAC region are highly dependent on thermal power plants for their base electricity demand due to the abundance of coal reserve in this region. Thermal power plant is popular in this region with high availability of coal. Service and maintenance for thermal power plants is highly capital intensive as it requires highly skilled workforce, technical know-how, and related support infrastructure. Various types of service include MRO, O&M, and testing. Testing can be categorized into the following: periodic inspection and testing, regular maintenance, preventive maintenance, repair and replacement of plant components, and certification and quality testing.
TechNavio's analysts forecast the Power Plant Service market in the APAC region to grow at a CAGR of 10 percent over the period 2014-2019.
Covered in this Report
The report covers the present scenario and the growth prospects of the Power Plant Service market in the APAC region for the period 2015-2019. The Power Plant Service market in the APAC region is segmented based on the following criteria: service providers and type of service.
TechNavio's report, the Power Plant Service Market in APAC Region 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report includes a discussion of the key vendors operating in this market.
TechNavio Announces the Publication of its Research Report – Power Plant Services Market in the APAC Region 2015-2019
TechNavio recognizes the following companies as the key players in the Power Plant Services Market in the APAC Region: Alstom SA, GE Co., Mitsubishi Heavy Industries Inc., Siemens AG and TNB Remaco
Other Prominent Vendors in the market are: Gujarat Industries Power, PPSVCS, S.R. Turbo Energy, Toshiba, Transfield Services, Vasavi Power Service and WorleyParsons.
Commenting on the report, an analyst from TechNavio’s team said: “Increased investment by original equipment manufacturers is a key trend being witnessed in this market. OEMs sign contracts with power plants that operate for a period of two to five years. This helps the OEMs retain their market share for a specific period of time.”
According to the report, aging power plant infrastructure in the region is one of the major drivers of this market. Currently, many thermal power plants in the APAC region require these services to maintain consistent efficiency levels. This increased requirement for servicing among thermal power plants is expected to propel market growth during the forecast period of 2014-2019.
Further, the report states that low rates of replacement of power plant equipment are considerably hindering market growth. Most of the equipment used in power plants has a long shelf-life, which reduces replacement needs significantly. This hurts the margins of service providers significantly.
Alstom, GE , Mitsubishi Heavy Industries , Siemens, TNB Remaco, Gujarat Industries Power, PPSVCS, S.R. Turbo Energy, Transfield Services , Toshiba , Vasavi Power Service, WorleyParsons