Privatisation of electricity markets in Central and Eastern Europe is creating opportunities for the power plant services market, according to a report by analysts Frost & Sullivan. The report identifies the countries in the region and the market segments that are likely to experience most growth.
Poland and Bulgaria will remain the largest and smallest power plant services markets, respectively, over the long term, the report says. Above-average growth is forecast for Baltic countries, Hungary and Turkey, while the Czech Republic and the countries of the former Yugoslavia are expected to be among the slowest growing markets.
Last year’s total revenue for the market was $494.3 million, a figure which the report predicts will rise at an annual rate of 7% until 2010 to reach $796.2 million. Among segments in this market, gas turbine servicing will show the fastest growth. Although its 29.7% share was the lowest in the region in 2003, predictions are that by 2010 it will rise more quickly than other sectors to reach a 32.8% share, making it the second largest sectort, pushing steam turbine servicing into third place.
Whereas boiler servicing in 2003 was the largest segment of the market, its share is shrinking because of recent additions to the gas-based capacity in the region and the tendency for maintenance of gas turbines to be outsourced more than for boilers.
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