Abstract
Electric power is one of the foundations of modern civilization. Without it,
life as we now know it would not exist. In fact, electric power is among the
primary drivers of economic growth, prosperity and technology. Power
generation equipment is how electric power is produced. Not surprisingly,
electric power generation equipment is among the world' s largest industries.
Further, the market for it is growing much faster than global GDP and is
undergoing major shifts in terms of technologies, fuels used and geographic
demand.
The report examines power generation technologies, the global market for power
generation equipment and engineering, procurement, construction (EPC)
services, in addition to power generation equipment manufacturers (OEMs) and
EPC services providers. The power generation market, including coal-fired,
gas-fired, nuclear, hydro and renewables, is sized in US dollars, market
shares and growth rates, by region and selected countries, during the
2000-2009 and 2010 to 2020 period. The current and future global fuel and
technology mix by region and selected countries also is given. The outlook by
generation technology is examined during the 2010-2020 period. Also covered
are the likelihood of carbon capture and storage, China' s power equipment
production, Indian and Russian power sector modernization, as well as market
opportunities and risks. The competitive environment is discussed and power
related revenues and market shares by company are provided. In-depth profiles
of 40 leading global suppliers of power generation equipment, as well as EPC
services, are given, along with detailed analyses of their offerings,
operations, markets served, customers, strategies, power related revenues,
finances, partnerships and latest deals.
Methodology and Sources
The information given in this report has been compiled from published sources
and interpreted from fieldwork based on informed opinions. Even so, there may
be some errors in the information obtained. While it is impossible to verify
every single detail with 100% accuracy, it is thought that the general picture
provided is reasonably accurate and comprehensive.
Table of Contents
EXECUTIVE SUMMARY
INTRODUCTION
- Background
- Methodology and Sources
- Statistical Notes
POWER TECHNOLOGY OVERVIEW
- Background
- History
- Methods of Generating Electricity
- Turbines
- Reciprocating Engines
- Photovoltaic Panels
- Other Generation Methods
- Environmental Concerns
POWER GENERATION EQUIPMENT MARKET OVERVIEW
- Global Power Generation Market: 2010-2020
- Coal-Fired
- Gas-Fired
- Nuclear
- Hydro
- Renewables
- US Power Generation Market: 2010-2020
- US Fuel & Technology Mix: 2010-2020
- European Power Generation Market: 2010-2020
- European Fuel & Technology Mix: 2010-2020
- Emerging Asian Power Generation Market: 2010-2020
- Emerging Asian Fuel & Technology Mix: 2010-2020
- Rest of World Power Generation Market: 2010-2020
- Rest of World Fuel & Technology Mix: 2010-2020
- Coal-Fired Outlook
- Coal-Fired Power' s Negative Dilemma
- Carbon Capture and Storage (CCS)
- US DOE CCS Programs
- US Coal-Fired Regulatory Environment
- State Mercury Rules
- Mercury Market Maturing
- EPA Regulations
- Legislative Action
- Cheaper SO2 Solution
- Gas-Fired Outlook
- Nuclear Outlook
- Renewables Outlook: US, European Union, China
- China Power Equipment Market
- Chinese Power Production
- Chinese Power Equipment Production
- Indian Power Sector Modernization
- Thermal
- India' s Technology Bet on Supercritical
- 12th Five Year Plan
- Nuclear Opportunities For The Private Sector In India
- Chinese Vendors-Down But Not Out
- Doubts on Quality of Chinese Equipment
- Chinese Vendors At Disadvantage In India
- Russian Power Sector Modernization
- Role of Nuclear Power to Increase in Russia
- Opportunities
- Risks
- Competitive Environment
- Leading Providers Power Equipment Revenues and Market Shares
- Available vs. Captive Market
- Winners
- Electric Utilities and Capital Expenditures
TABLES
- Global Power Generation Market:
Coal-Fired/Gas-Fired/Nuclear/Hydro/Renewables ($ Billions/Market Shares/Cagr):
2000-2004, 2005-2009, 2010-2014, 2015-2019
- Global Power Generation Market: Coal-Fired ($ Billions/Market
Shares/Cagr): 2000-2004, 2005-2009, 2010-2014, 2015-2019
- Global Power Generation Market: Gas-Fired ($ Billions/Market Shares/Cagr):
2000-2004, 2005-2009, 2010-2014, 2015-2019
- Global Power Generation Market: Nuclear ($ Billions/Market Shares/Cagr):
2000-2004, 2005-2009, 2010-2014, 2015-2019
- Global Power Generation Market: Hydro ($ Billions/Market Shares/Cagr):
2000-2004, 2005-2009, 2010-2014, 2015-2019
- Global Power Generation Market: Renewables ($ Billions/Market
Shares/Cagr): 2000-2004, 2005-2009, 2010-2014, 2015-2019
- US Power Generation Market: Coal-Fired/Gas-Fired/Nuclear/Hydro/Renewables
($ Billions/Market Shares/Cagr): 2000-2004, 2005-2009, 2010-2014, 2015-2019
- European Power Generation Market:
Coal-Fired/Gas-Fired/Nuclear/Hydro/Renewables ($ Billions/Market Shares/Cagr):
2000-2004, 2005-2009, 2010-2014, 2015-2019
- Emerging Asia Power Generation Market:
Coal-Fired/Gas-Fired/Nuclear/Hydro/Renewables ($ Billions/Market Shares/Cagr):
2000-2004, 2005-2009, 2010-2014, 2015-2019
- Rest of World Power Generation Market:
Coal-Fired/Gas-Fired/Nuclear/Hydro/Renewables ($ Billions/Market Shares/Cagr):
2000-2004, 2005-2009, 2010-2014, 2015-2019
- Global Fuel & Technology Mix-Coal/Gas/Nuclear/Hydro Renewables (%):
2000-2004, 2005-2009, 2010-2014, 2015-2019
- Fuel & Technology Mix By Country & Region (US, Western Europe, Eastern
Europe, China, India, Japan, etc.)- Coal/Gas/Nuclear/Hydro Renewables (%):
2000-2004, 2005-2009, 2010-2014, 2015-2019
- Worldwide Steam Turbine Orders by Producer (units, MW): 2008
- Worldwide Gas Turbine Orders by Producer (units, MW): 2008
- Global Nuclear Plants Commissioned (units, MW): 1970-2008
- Planned Nuclear Capacity by Country-operable, under construction, planned,
proposed (number, MW): 2009
- Developed Economies 2020 GHG Reduction Commitments by Country: 2010
- Chinese Power Generation by Fuel Mix (thermal, hydro, nuclear, wind,
other): 2009
- Chinese Power Equipment Production (MW, Y-Y growth): 2007-2009 by Month
- Chinese Power Equipment Production vs. Installed Capacity: Production, New
Capacity, Surplus/Deficit (MW): 1998-2009
- Expected Nuclear Power Projects In India (MW): 2010
- Russian Power Generation Equipment Demand-Installed, Additions (GW):
2010-2015
- Largest Global OEM and EPC Companies Power Related Revenues and Market
Shares ($ Millions): 2007, 2008, 2009
- apital Expenditures of Largest Global Electric Utilities: 2004-2009 (by
Year, Cagr)
COMPANY PROFILES
ABB Ltd.
Company overview, power overview, power products, power systems, power
products and power systems revenues/profits/margins: 2005-2011, pricing
trends, cost savings, financial overview-sales/growth, gross profit/margin,
net income/margin, eps/growth, market cap, segment sales, geographic revenue:
2008-2010, latest deals.
ABENGOA S.A.
Company overview, power overview, Abeinsa, engineering revenue/operating
profit/operating margin-traditional/transmission lines: 2008-2011, financial
overview-sales/growth, gross profit/margin, net income/margin, eps/growth,
market cap, segment sales, geographic revenue: 2008-2010.
ACS-Actividades de Construccion y Servicios SA
Company overview, power overview, power revenue: 2008-2012, financial
overview-sales/growth, gross profit/margin, net income/margin, eps/growth,
market cap: 2008-2010.
AECOM TECHNOLOGY CORPORATION
Company overview, power overview, power revenue by service-2009, geographic
revenue-2010, financial overview-sales/growth, gross profit/margin, net
income/margin, eps/growth, market cap: 2009-2011, latest deals.
ALSTOM SA
Company overview, power overview, power revenue/operating income/margins by
segment: 2009-2015, Areva T&D deal, Alstom' s revenue with Areva unit: 2011,
power revenue by segment with/without Areva unit: 2011, financial
overview-sales/growth, gross profit/margin, net income/margin, eps/growth,
market cap: 2009-2011.
AMEC P.L.C.
Company overview, power overview, power revenue: 2008-2012, revenue by
segment/geography: 2008, financial overview-sales/growth, gross profit/margin,
net income/margin, eps/growth, market cap: 2009-2011, latest deals.
Balfour Beatty plc
BALFOUR BEATTY PLC
Company overview, power overview, Parsons Brinckerhoff deal, revenue by
segment/geography: 2008, financial overview-sales/growth, gross profit/margin,
net income/margin, eps/growth, market cap: 2008-2010, latest deals.
BHARAT HEAVY ELECTRICALS LIMITED
Company overview, power overview, product offerings: thermal/hydro/nuclear,
Indian power generation and transmission requirements, plans for overseas
markets, plans for nuclear power business, other new markets, competitive
issues, competition from domestic players, supercritical orders, Chinese
vendors, quality of Chinese equipment, Chinese vendors in India, financial
overview-sales/growth, gross profit/margin, net income/margin, eps/growth,
market cap: 2009-2011, latest deals.
BILFINGER BERGER AG
Company overview, power overview, power revenues/operating income/operating
margin: 2008-2012, financial overview-sales/growth, gross profit/margin, net
income/margin, eps/growth, market cap: 2009-2011, revenue by
segment/geography: 2009, latest deals.
BOUYGUES SA
Company overview, power overview, financial overview-sales/growth, gross
profit/margin, net income/margin, eps/growth, market cap: 2009-2011, revenue
by segment/geography: 2009.
CHIYODA CORPORATION
Company overview, power overview, financial overview-sales/growth, gross
profit/margin, net income/margin, eps/growth, market cap: 2009-2011, revenue
by segment/geography: 2009, latest deals.
CNIM-CONSTRUCTIONS INDUSTRIELLES DE LA MEDITERRANEE
Company overview, power overview, financial overview-sales/growth, gross
profit/margin, net income/margin, eps/growth, market cap: 2009-2011, revenue
by segment/geography: 2009, latest deals.
CTCI CORPORATION
Company overview, power overview, financial overview-sales/growth, gross
profit/margin, net income/margin, eps/growth, market cap: 2009-2011, revenue
by segment/geography: 2009, latest deals.
DONGFANG ELECTRIC CORPORATION LIMITED
" Company overview, power overview, hydro/thermal/nuclear/wind/other
offerings, EPR reactor costs, Areva JV, 2.5/3G Technology, CPR1000, nuclear
backlog, financial overview-sales/growth, gross profit/margin, net
income/margin, eps/growth, market cap: 2008-2010, revenue by
segment/geography: 2008, latest deals.
DOOSAN HEAVY INDUSTRIES & CONSTRUCTION COMPANY
Company overview, power overview, thermal/nuclear activities, new orders,
acquisitions, revenue/operating income/margins by segment: 2009-2012, revenue
by type of power plant: 2008-2011, financial overview-sales/growth, gross
profit/margin, net income/margin, eps/growth, market cap: 2008, latest deals.
EIFFAGE
Company overview, power overview, financial overview-sales/growth, gross
profit/margin, net income/margin, eps/growth, market cap: 2008, revenue by
segment/geography: 2008, latest deals.
FLUOR CORPORATION
Company overview, power overview, power services, power outlook, power
revenue/operating margin: 2005-2011, financial overview-sales/growth, gross
profit/margin, net income/margin, eps/growth, market cap: 2008-2010, revenue
by segment/geography: 2008, latest deals.
FOSTER WHEELER AG
Company overview, power overview, global E&C group, global power group, global
E&C group services, global power group products, revenue/operating earnings by
group: 2007-2009, financial overview-sales/growth, gross profit/margin, net
income/margin, eps/growth, market cap: 2008-2010, revenue by
segment/geography: 2008, latest deals.
GENERAL ELECTRIC COMPANY
Company overview, power overview, GE Energy, power generation products,
nuclear generation, ENSA agreement, wind, increasing competition, aftermarket
services, leveraging on established business, expansion opportunities, recent
agreements, order backlog, GE Energy revenue and operating profits: 2007-2013,
financial overview-sales/growth, gross profit/margin, net income/margin,
eps/growth, market cap: 2008-2010, revenue by segment/geography: 2009.
HARBIN POWER EQUIPMENT COMPANY LIMITED
Company overview, power overview, product offerings, projects, contracts,
technology innovation and absorption, hydro opportunities, nuclear, Chinese
nuclear opportunities, competitors, output forecast by product group:
2008-2015, revenue forecast by segment: 2008-2011, financial
overview-sales/growth, gross profit/margin, net income/margin, eps/growth,
market cap: 2008-2010, revenue by segment/geography: 2008.
HYUNDAI ENGINEERING & CONSTRUCTION COMPANY LIMITED
Company overview, power overview, financial overview-sales/growth, gross
profit/margin, net income/margin, eps/growth, market cap: 2008-2011, revenue
by segment: 2008-2012.
JACOBS ENGINEERING GROUP INC.
Company overview, power overview, business model, service portfolio,
multidomestic strategy, financial overview-sales/growth, gross profit/margin,
net income/margin, eps/growth, market cap: 2009-2011, revenue by
segment/market/geography: 2009.
LARSEN & TOUBRO LIMITED
Company overview, power overview, Engineering & Construction Projects
Division, Engineering Construction & Contracts Division, Heavy Engineering
Division, L&T Power Ltd, E&C Projects, Construction, changes in strategy, new
heavy forgings facility, nuclear JVs, move to asset ownership, order backlog,
recent power projects, JV with Mitsubishi Heavy Industries, Indian thermal
opportunities, one-stop shop for power plants, India' s technology bet on
supercritical, L&T vs, BHEL in supercritical technology, L&T vs other
competitors, revenues by end-market: 2010, financial overview-sales/growth,
gross profit/margin, net income/margin, eps/growth, market cap: 2009-2011,
revenue by segment: 2009.
MARUBENI CORPORATION
Company overview, power overview, financial overview-sales/growth, gross
profit/margin, net income/margin, eps/growth, market cap: 2009-2011, revenue
by geography: 2008.
MCDERMOTT INTERNATIONAL INC.
Company overview, power overview, spin-off of B&W, power generation
revenue/operating income/margins: 2007-2010, financial overview-sales/growth,
gross profit/margin, net income/margin, eps/growth, market cap: 2009-2011,
revenue by segment/geography: 2008, latest deals.
MITSUBISHI ELECTRIC CORPORATION
Company overview, power overview, power revenues/profits/margins: 2007-2012,
financial overview-sales/growth, gross profit/margin, net income/margin,
eps/growth, market cap: 2009-2011, revenue by segment/geography: 2009.
MITSUBISHI HEAVY INDUSTRIES LIMITED
Company overview, power overview, wind, nuclear, Areva JV, CO2 Recovery,
strategies, power revenues: 2009, financial overview-sales/growth, gross
profit/margin, net income/margin, eps/growth, market cap: 2009-2011, revenue
by segment/geography: 2009, latest deals.
OJSC POWER MACHINES
Company overview, power overview, energy generation equipment and services,
subsidiaries, production, main markets, other markets, key strategies,
partnerships, new product offerings, Russian turbine and generator demand,
Russian power sector modernization, role of nuclear power in Russia, Russian
contracts and market share, financial overview-sales/growth, gross
profit/margin, net income/margin, eps/growth, market cap: 2009-2011, revenue
by segment/geography: 2008.
POYRY OYJ
Company overview, power overview, power revenue: 2008-2009, financial
overview-sales/growth, gross profit/margin, net income/margin, eps/growth,
market cap: 2009-2011, latest deals.
PRIMORIS SERVICES CORPORATION
Company overview, power overview, construction services, engineering services,
customers, financial overview-sales/growth, gross profit/margin, net
income/margin, eps/growth, market cap: 2008-2010, revenue by
segment/geography: 2008, latest deals.
SHANGHAI ELECTRIC GROUP COMPANY LTD.
Company overview, power overview, nuclear, Chinese nuclear market, AP1000,
nuclear backlog, nuclear investments, financial overview-sales/growth, gross
profit/margin, net income/margin, eps/growth, market cap: 2008-2010, revenue
by segment/geography: 2008, latest deals.
SHAW GROUP INC
Company overview, power overview, fossil & nuclear, nuclear, Southern Co' s
Vogtle Plant, air quality control, T&D, renewables, other, financial
overview-sales/growth, gross profit/margin, net income/margin, eps/growth,
market cap: 2008-2010, revenue by segment: 2008-2012, latest deals.
SIEMENS AG
Company overview, power overview, wind, solar/hydro/biomass, fossil, service,
T&D, fossil power/renewable energy/power transmission/power distribution:
revenue/operating profits/margins: 2008-2014, financial overview-sales/growth,
gross profit/margin, net income/margin, eps/growth, market cap: 2009-2011,
revenue by segment: 2008-2012.
SNC-LAVALIN GROUP INC.
Company overview, power overview, AECL, implications for SNC, carbon capture
and sequestration, power revenue/operating income: 2005-2009, financial
overview-sales/growth, gross profit/margin, net income/margin, eps/growth,
market cap: 2008-2010, revenue by segment/geography: 2008, latest deals.
TAISEI CORPORATION
Company overview, power overview, power revenue: 2008-2009, financial
overview-sales/growth, gross profit/margin, net income/margin, eps/growth,
market cap: 2009-2011, revenue by segment/geography: 2009.
THERMAX LIMITED
Company overview, power overview, agreement with B&W, alliance with SPX, power
revenues: 2009, financial overview-sales/growth, gross profit/margin, net
income/margin, eps/growth, market cap: 2009-2011, revenue by
segment/geography: 2009, latest deals.
TOSHIBA PLANT SYSTEMS & SERVICES CORPORATION
Company overview, power overview, nuclear, power systems/nuclear revenue:
2008-2012, financial overview-sales/growth, gross profit/margin, net
income/margin, eps/growth, market cap: 2009-2011, revenue by
segment/geography: 2009.
URS CORPORATION
Company overview, power overview, nuclear, power revenue by division:
2008-2015, financial overview-sales/growth, gross profit/margin, net
income/margin, eps/growth, market cap: 2009-2011, revenue by segment: 2009.
Latest deals.
VINCI
Company overview, power overview, power revenues: 2008, financial
overview-sales/growth, gross profit/margin, net income/margin, eps/growth,
market cap: 2009-2011, revenue by segment/geography: 2009.
WORLEYPARSONS LIMITED
Company overview, power overview, coal, nuclear, turbines, T&D, operations and
maintenance, air quality, power revenue/operating income/margins: 2008-2012,
financial overview-sales/growth, gross profit/margin, net income/margin,
eps/growth, market cap: 2009-2011, revenue by segment/geography: 2009, latest
deals.
