North America Thermal Power Maintenance Market - Market Size, Key Trends, Challenges, and Competitive Analysis The report gives us clear understanding of the North America thermal power maintenance services market. It provides deep understanding of key drivers impacting the market, key restraints in the market and key challenges for the services market. It gives forecast to 2020 by major countries in the region and key segments under the maintenance services market. It provides analysis of key players in the maintenance services market by market share range in each segment Aging Power Plants and Growing Electricity Demand in the Region are Driving the Growth of Thermal Power Maintenance Services Market It is estimated that 42% of the aging installed base in the world is concentrated in North America and most of them have already crossed their 30 years of design life. The old and aging power plants in the region are the single largest driving force for the maintenance services market. The aging power plants in the region have low efficiency levels and plant owners are increasingly investing in maintenance services to increase the efficiency levels of their plants. The large number of power plants reaching retirement age will continue to drive the market for servicing as utilities strive to replace components to maintain the current levels of installed capacity. The service providers are increasingly entering into contracts with plant owners to improve the output of the power plants. This factor is going to drive the growth of the maintenance market in the North American region in the near future. For further details, please click or add the below link to your browser: http://www.globaldata.com/reportstore/Report.aspx?ID=North-America-ThermalPower-Maintenance-Market--Market-Size-Key-Trends-and-Challenges-and-CompetitiveAnalysis&ReportType=Industry_Report&coreindustry=ALL&Title=Power_~_Utilities Apart from the aging power plants in the region the growing demand for electricity is also a driving force for the maintenance services market in North America. Electricity generation is expected to increase at an average rate of 2.4% through 2030. . Electricity generation in the US is expected to increase at an average annual rate of 1%.Similarly; Canada is expected to see an increase in electricity generation at 1.4% per year. The growing demand for electricity in the region will drive the market for maintenance services in the long-term. The North America Maintenance Services Market is Expected to Show a Stable Growth throughout the Forecast Period, with Gas Turbines having a Major Share The North American maintenance services market generated revenue of $8,432m in 2009, a 2.36% growth from the 2008 revenue of $8,238m. The gas turbines segment contributed a major share of 44% to the total thermal power maintenance market with revenues from this segment amounting to $3,710m in 2009. The steam turbine segment
contributed a share of 20% in 2009 with a revenue contribution of $1,686m.The boiler segment contributed the remaining share of 36% with a total revenue contribution of $3035m in 2009.The maintenance services market is largely driven by electricity demand in the region and the aging power infrastructure leading to increased demand for maintenance services. During the forecast period 2010-2020 the market is expected to grow at a CAGR of 4.36% to total revenue of $13,089m by 2020. The gas turbine segment is expected to show an increased contribution of 52% with total revenue of $6,904m in 2020 Perception that Original Equipment Manufacturer’s (OEM) Handle Maintenance Better and Growing Competition between OEM’s and ISP are the Key Challenges Faced by the Industry There is a general perception among the utilities that outsource power services that OEM’s better handle the maintenance task. This is mainly because OEM’s represent experience, technology dominion and brand that stands for reliability. End users are hesitant to turn to ISP’s considering them to be unable to better handle a technology that they haven’t manufactured. This perception that OEM’s are better service providers than the other local services providers has led to an increased share of OEM’s in the services business. Independent service providers have to struggle hard in order to convince end users of their service abilities. For further details, please click or add the below link to your browser: http://www.globaldata.com/reportstore/Report.aspx?ID=North-America-ThermalPower-Maintenance-Market--Market-Size-Key-Trends-and-Challenges-and-CompetitiveAnalysis&ReportType=Industry_Report&coreindustry=ALL&Title=Power_~_Utilities Along with this the increasing competition between OEM’s and ISP’s leading to price wars are a major challenge to the industry. Increased demand, when other sectors in the economy are lagging, has led to increased competition between market players. OEM’s and ISP’s are constantly trying to outshine each other. Such intense competition between the market players has led to intense price wars between the two. In the maintenance services market OEM’s have the benefit of long-term service agreements (LTSA) and the advantage of establishing them during the equipment supply stage. This is leading to a price war between the well-established OEM’s and ISP’s, where ISP’s are pitching in for maintenance contracts on the basis of lower prices. Utilities are increasingly looking at ISP’s who can provide services at lower prices than OEM’s The US and Canada Thermal Power Maintenance Services Market is Expected to Show a Strong Growth in the Future. With the US Leading the Way The North American thermal power maintenance services market is largely segmented into two countries, the US and Canada. The US contributes the major share to the thermal power maintenance market in the region. The thermal power maintenance services market in the US generated revenue of $7,704m in the year 2009. The large base of thermal power plants in the country along with the growing electricity demand
is driving the market for maintenance services in the US. During the forecast period 2010-2020 the market for thermal power maintenance services in the US is expected to grow at a CAGR of 4.5% reaching revenue of $12,140m in 2020. The growth in the thermal power maintenance services market in the US is largely driven by the growing electricity demand in the country and the large fleet of aging power plants. Canada thermal power maintenance services market generated revenue of $728m in 2009.During the forecast period 2010-2020 the maintenance market in Canada is expected to grow at a CAGR of 2.64% to reach revenue of $949m in 2020 GE, Alstom and Babcock are the Key Players in the Gas, Steam and Boiler Services Market Respectively in the Region GE is the major player in the gas turbine services market in the region. The gas services market is a highly concentrated market with key players having a major share of the services business. Alstom is a major player in the steam turbine services market. In terms of services portfolio Alstom emerges as a leader with a widest range of services under O&M services providing full fledged services for all parts of a power plant. Alstom has close to 200 steam turbine technologies in its services portfolio. Babcock is a major player in the boiler services market in the region. In terms of their presence in North America Babcock with 35% of the total boiler generated capacity, 15 centers in the US and 3 in Canada. For further details, please click or add the below link to your browser: http://www.globaldata.com/reportstore/Report.aspx?ID=North-America-ThermalPower-Maintenance-Market--Market-Size-Key-Trends-and-Challenges-and-CompetitiveAnalysis&ReportType=Industry_Report&coreindustry=ALL&Title=Power_~_Utilities Visit our report store: http://www.globaldata.com/reportstore Contact Information: Rajesh Gunnam rgunnam@globaldata.com +914066166782