Gas and steam potential found in Eastern Europe
A
Frost and Sullivan product story
Edited by the Engineeringtalk editorial team
Jul 26, 2007
The Central and Eastern European steam and gas turbines market is expected to triple in the next few years.
New research shows growth potential for the Central and Eastern European steam and gas turbines market.
Its revenues will triple 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 and Sullivan, Central and Eastern European Steam and Gas Turbines Market, finds that the market earned revenues of US $1.52 billion in 2006 and estimates this to reach US $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 and 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 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.
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