Power Plant Maintenance

  • Power plant is a facility where electricity is generated from the primary source
  • Maintenance of power plant is highly essential, as they play a key role in the overall operation of a plant. Timely maintenance increases life and efficiency of the power plant.
  • Rise in demand for power plants and growth in investments in various power plants have boosted the demand for maintenance of power plants. The hydropower sector has doubled in size from 625 GW in 1995 to more than 1,300 GW in 2019.
  • Maintenance of power plants can be predictive, preventive, or planned. Predictive maintenance reduces the maintenance cost as compared to that incurred in preventive maintenance, as it prevents excess wear & tear of the operating equipment. Planned maintenance is a routine or time-based maintenance that consists of lubrications, oil change, bearing checkup, and other such parameters.

Key Drivers of Global Power Plant Maintenance Market

  • Demand for power plant maintenance is expected to increase in the near future owing to rise in globalization and urbanization. Demand for electricity is rising owing to an increase in population.
  • Increase in investment in generation of hydroelectric power, renewable energy, and geothermal power plants is anticipated to boost the global power plant maintenance market in the near future.

COVID-19 Impact on Global Power Plant Maintenance Market

  • Rapid spread of the COVID-19 pandemic has impacted the global power generation market. The pandemic halted several power projects owing to disruption in supply of equipment, raw material, and labor. Maintenance schedules of various hydropower plants have been highly disturbed.

Key Development

  • On May 9, 2020, Enel Spa rolled out the world’s first wide-ranging predictive maintenance model for its hydroelectric power plants. The company initiated the PresAGHO project (Predictive System and Analytics for Global Hydro Operation), featuring an elaborate predictive maintenance model to tackle potential faults in hydroelectric power plants.

Asia Pacific to Hold Major Share of Global Power Plant Maintenance Market

  • Based on region, the global power plant maintenance market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • Asia Pacific dominated the global power plant maintenance market in 2019. The market in the region is expected to be highly attractive during the forecast period, as the region has highest installed base of power plants. China, Japan, India, and South Korea possess high number of installed bases in the region.
  • North America is anticipated to account for notable share of the global power plant maintenance market during the forecast period. The U.S. has around 8690 installed power plants.
  • The market in Europe is estimated to expand at a healthy pace during the forecast period owing to an increase in investments for the generation of hydroelectric power. Key countries in the region are Italy, Germany, Spain, France, and Austria. Rise in number of installation of power plants in Europe is anticipated to boost the power plant maintenance market in the region.
  • Middle East & Africa is likely to account for relatively minor share of the market in the near future, as the power generation market is in the development phase in the region
  • Latin America is anticipated to hold moderate share of the global market during the forecast period. Investment in the power generation market is estimated to rise in the near future. Brazil installed 4919 MW of hydropower in 2019.

Key Players Operating in Market

Major players operating in the global power plant maintenance market are:

  • Thermax Limited
  • Energo Engineering Projects Limited.
  • JERA Co., Inc.
  • NTPC Ltd.
  • MYTILINEOS SA.
  • GENERAL ELECTRIC
  • DESEIN Private Limited
  • LAXYO
  • STEAG ENERGY SERVICES
  • Siemens Energy

Global Power Plant Maintenance Market: Research Scope

Global Power Plant Maintenance Market, by Maintenance Type

  • Preventive Maintenance
  • Breakdown Maintenance
  • Shutdown Maintenance
  • Electrical Maintenance
  • Control and Instrumentation
  • Turbine and ESP Overhauling
  • Others

Global Power Plant Maintenance Market, by Power Plant Type

  • Nuclear
  • Hydroelectric
  • Coal Fired
  • Geothermal
  • Combined Heat & Power (CHP)
  • Others

Global Power Plant Maintenance Market, by Capacity

  • Up to 100 MW
  • 101 – 1000 MW
  • 1001 – 3000 MW
  • 3000 – 6000 MW
  • Above 6000 MW

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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