Global Market for Maintenance, Repair, and Overhaul Services for Power Plants to Exceed $32.3 Billion by 2015, According to New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on Power Plant Services markets. The world market for maintenance, repair, and overhaul (MRO) services for power plants is projected to exceed $32.3 billion by the year 2015. This is primarily driven by rising demand for energy and the condition of power producing equipment. Additionally, electricity regulations are also contributing to the market growth.

Power Plant Services: A Global Strategic Business Report

Power plant services are the services offered by suppliers for power plants in the post-commissioning environment. Power plant services enable the plant operators to manage operational risks including the engineering, planning and supply chain tasks. The services facilitate the operators to focus more on their key business objectives.

Globally, power plant operators are increasingly willing to employ service providers to implement the maintenance and other jobs at their plants. Power plant services market is largely influenced by the rising demand for energy as well as the current condition of power producing equipment. Dilapidated and ageing power facilities are offering considerable opportunities for power replacement and re-powering services aimed at improving the overall efficiency of the facilities and also to meet stringent emission norms. Further, a large number of power generating plants are being operated beyond their scheduled operations in order to meet the rising demand for electricity. This is indirectly widening the business for third party service providers as well as original equipment manufacturers (OEMs). Demanding routine maintenance and service jobs, especially for gas turbines, steam turbines, and boilers, coupled with stringent environmental rules and regulations are also spurring demand for outsourced services.

Asia-Pacific dominates the world power plant services market, as stated by the new market research report on power plant services market. The region also represents the fastest growing market for power plant MRO services in the world. Buoyed by the robust growth in demand for electricity and the rapid capacity expansions in power sector, the power plant services market in Asia-Pacific continues to soar high. The Untied States and Europe represent the other principal markets for power plant MRO services. Gas turbines segment represents the largest as well as fastest growing sector in the worldwide power plants MRO services market.

Growth in the power plant services market is driven by several factors. However, certain impediments hamper the momentum and growth of the market to a noticeable extent. Shortage of skilled workforce, increased bargaining power of major utilities, inefficiency of the existing system, and absence of private investors are some of the major factors that inhibit the market growth.

Key players profiled in the report include Alstom, Foster Wheeler AG, GE Energy, John Wood Group Plc., Wood Group GTS, Mitsubishi Heavy Industries Ltd., NAES Corporation, Siemens AG, Sulzer Corporation, TGM Turbinas, and The Babcock & Wilcox Company, among others.

The report titled “Power Plant Services: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, competitive scenario, product overview and recent industry activity. The study analyzes market data and analytics in terms of revenues for Maintenance, Repair, and Overhaul (MRO) Services for Power Plants for regions including The United States, Canada, Europe, Asia-Pacific and Rest of World by following Sectors – Gas Turbines, Steam Turbines, and Boilers.

For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Power_Plant_Services_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1100 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.

Global Industry Analysts, Inc.
Telephone 408-528-9966
Fax 408-528-9977
Web Site http://www.StrategyR.com/

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