Growth potential for steam and gas turbines in Central and Eastern Europe
High growth potential for the Central and Eastern European steam and gas turbines market. Its revenues will increase three times more over the next few years as a result of the rising demand for electricity and the need to replace obsolete power plant equipment.
Research from Frost & Sullivan, Central and Eastern European Steam and Gas Turbines Market, finds that the market earned revenues of US$1.52billion in 2006 and estimates this to reach US$5.34billion 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 & 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.
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