Global Power Survey annual procurement budget to hit US$127.4 million in 2013

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'Global Power Survey 2013-2014 - Market Trends, Buyer Spend and Procurement Strategies in the Global Power Industry' added to Reportbuyer.com

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According to the new research 'Global Power Survey 2013-2014' India, Brazil, the Middle East, and China are the important emerging markets to offer growth in 2013. Overall, for 2013, the average size of the annual procurement budget for global power industry buyer respondents is projected at US$127.4 million, against US$177.3 million in 2012 and US$168 million in 2011.

The 160 page report states that analysis of revenue growth expectations by senior level respondents reveals that 50% are 'more optimistic' about their company's revenue growth in 2013. A significant percentage of fossil fuel power generator respondents highlighted capital expenditure towards 'sustainable or green initiatives', 'employee training', and 'facility expansion' would increase in 2013.

The top three priorities for global power industry buyer respondents in 2013 are 'improving operational efficiency', 'expand in current market', and 'focus on sustainability'.

A total of 31% of respondents from fossil fuel generator companies, 68% of respondents from alternative power generator companies, and 51% of respondents from power industry supplier companies anticipate an increase of their current workforce in 2013.

Survey results show that respondents from the global power industry identified Singapore, Taiwan, Hong Kong, the US, and Australia to offer the highest growth potential among developed countries in 2013-2014.

View the report: 'Global Power Survey 2013-2014 - Market Trends, Buyer Spend and Procurement Strategies in the Global Power Industry'

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